Financial health of an organization is critical for its survival. Top executives and board of directors require accurate information to make to the right decisions. Quantitative analysts gather and analyze financial data and help the top executives understand the actual situation. It is a highly specialized field of work that requires the professionals to have extensive knowledge in the structure and function of the financial systems.
Most employers seek individuals with at least graduate degrees in Quantitative Analysis or Finance for entry level positions as well. You can, however, grow with experience in this high paying and stable position. An MBA in Quantitative Analysis is great for students with undergraduate degrees in Finance or a related field.
Your role as a quantitative analyst will vary, depending on your qualifications, and the type and size of the employer. Common responsibilities may include:
- Gathering financial information from various sources and analyzing it
- Using mathematics to determine the pricing of the products
- Analyzing the markets and recommending new product ideas to the development team
- Simplifying the statistical data to understand current trends
- Determining the sales and success of a product or a service, and predicting its longevity
Quantitative analysts may work independently with small businesses, or be part of large financial and business strategy teams of multinational corporations.
How to Get an MBA in Quantitative Analysis?
A Masters of Business Administration in Quantitative Analysis is a great program for finance and accounting professionals seeking new avenues of work within the organization. Many colleges and universities offer the graduate level program. You should, however, consider several factors before signing up for it, including the scope of the program; accreditation of the program; credentials of the faculty members; total cost of the program; duration of the program; and the enrollment and graduation criteria.
Schools offer both online and traditional, campus-based MBA programs in Quantitative Analysis. Each program has its own advantages and disadvantages. The online programs are great for professionals who wish to pursue higher education without disturbing their work schedule. The flexible programs can be completed from anywhere and at anytime. The traditional, full-time programs are ideal for young students who have the time and resources for greater commitment. They can help you build good professional network with peers and faculty members. Recent surveys have, however, indicated that 85 percent of employers do not differentiate between the two formats. You choice, therefore, depends on your personal preferences.
The enrollment criteria for an MBA in Quantitative Analysis will depend on the university. Common prerequisites include:
- A Bachelor’s degree in Quantitative Analysis, Finance or a related field
- GMAT scores
- Letters of recommendation from former employers of faculty members
- A statement of intent indicating your interest and passion for the program
- Work experience.
You should contact the university’s Admissions Office to get specific information. The enrollment criteria are flexible and easy for some schools. Top ranking colleges, on the other hand, receive thousands of applications each year. They have strict admission requirements, and are highly competitive. Their degrees have a greater value as well.
Most students require two to three years to complete an MBA in Quantitative Analysis. Common topics within the coursework may include:
- Management through spreadsheets
- Applied statistics for managers
- Financial econometrics
- Computer simulation and modeling
- Market and business research
- Managerial accounting
- Information technology
- Marketing strategies
- Financial management
- Multinational corporate environment
- Decision making
- Operational management
Many universities require students to complete a capstone project for graduation. The projects are aimed at providing real-world experience to the students.
Popular Careers and Future Outlook
Professionals with MBA degrees in Quantitative Analysis are in great demand, irrespective of the economic scenario. In fact, businesses invest more in financial planning during the economic downturn to make the right decisions for the future. With a graduate level degree, you can find rewarding careers as:
- Quantitative analyst
- Business strategist
- Financial planner
You may work in many different fields of work including government agencies, large multinationals and private corporations. Your graduate degree will also give the eligibility to pursue a doctorate degree in Quantitative Analysis or Finance. After your Ph.D., you may also work as a faculty member and teach undergraduate and graduate students pursuing academic degrees in the field. You may take up a leadership position at a financial institution as well.
Your median average salary would be around $73,670. This will increase with the right experience and technical qualifications. The Bureau of Labor Statistics predicts a 20 percent growth in the sector between 2008 and 2018.