What Is a Quantitative Developer?
Quantitative developers are software developers that work solely in financial, market, and investment firms. Developers couple strong computer programming skills with a deep knowledge of financial and market analysis to plan, design, implement, and maintain software application solutions for traders and quantitative analysts. They work with financial and market analysts to develop market and trading forecast models, conduct investor risk assessments, and develop optimal trading applications to maximize investor return on investment (ROI). Quantitative developers are responsible for the complete software development life cycle (SDLC) of these applications. They identify what resources are required for the application, research market trends, develop applications, and bring together/reconcile live trading versus actual trading outcomes. Developers work in a computationally intensive role and work with a number of programming languages including but not limited to Python, Java, C#, C++, R, and SQL.
Quantitative developers work as collaborators with quantitative analysts - known as quants in the financial trade - and organization stakeholders as well as with investors to achieve maximum ROI. Developers serve in a mentoring role by creating structured learning modules, training others in an application's functions, writing reports, creating and editing documentation for models and applications, presenting at live gatherings, and creating podcasts and blogs for various media platforms.
|Educational Requirements||Bachelor's degree and relevant work experience|
|Job Skills||Expertise in a number of programming languages and operating systems, strong written and oral communication, strong mathematical ability, expertise in software programming and development, excellent knowledge of financial markets|
|Median Salary (2019)*||$97,443|
|Job Outlook (2016-2026)**||24% (all software developers)|
Sources: *Payscale.com **U.S. Bureau of Labor Statistics
Quantitative developers need a bachelor's degree. Many employers require a bachelor's degree in one of the following disciplines: computer science, mathematics, physics, or related technical fields. Most employers require additional prior practical work experience in computer programming and software application development.
Quantitative developers work with real-life market investors and quantitative analysts and must possess expertise in a number of programming languages because they are directly involved in developing applications to forecast market trends and provide investors with the needed information to make successful trades. Strong mathematical ability is essential for developers because they must be able to confidently analyze and interpret market trends to implement forecast models and develop applications based upon these data. Quantitative developers must have keen oral and written communication skills because they develop training modules for stakeholders and traders, communicate and collaborate with quantitative analysts, and prepare and give presentations as required.
Career Outlook and Salary
The U.S. Bureau of Labor Statistics (BLS) reports a projected 24% job growth rate between 2016 and 2026 for software developers. The BLS reports that this figure represents a much faster-than-average rate compared to all other occupations. In May 2019, Payscale.com reported that the annual median salary for quantitative developers was $97,443.
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