Quantitative Risk Analyst Career Guide
We're excited to share that we've launched our new report series, "Planning Your Career with Jaya Talent", starting with Quantitative Risk Analyst roles.



Crypto & Finance
As a Quantitative Risk Analyst (QRA), you have exciting career opportunities both in leading crypto companies and well-established traditional financial institutions.
In the cryptocurrency sector, firms like Coinbase and Binance are at the forefront. The global cryptocurrency market is projected to grow from $1.49 trillion in 2023 to $3.22 trillion by 2028, with a CAGR of 16.64%. This growth presents increasing opportunities for QRAs to manage risks associated with emerging digital assets and technologies.
In traditional finance, institutions such as Goldman Sachs and JP Morgan Chase provide stability and extensive resources. The global financial services market, which includes traditional finance sectors such as banking, investment services, insurance, and asset management, is valued at approximately $24.5 trillion (2023). Expected to grow to around $30.7 trillion, with a compound annual growth rate (CAGR) of 4.9% from 2023 to 2028. This growth provides QRAs with opportunities to work on risk management across various financial sectors, including investment banking and asset management.



How much do QRAs make in the traditional market?
There are 10 cities where the typical salary for a Quantitative Risk Analyst job is above the national average.
Topping the list is San Francisco, CA, with San Jose, CA, and Oakland, CA close behind in the second and third positions. Oakland, CA beats the national average by $24,769 (18.5%), and San Francisco, CA furthers that trend with another $34,203 (25.5%) above the $133,877 average.


Potential career paths for a QRA
Entry-Level:
1. Quantitative Risk Analyst: Junior roles involve assisting senior QRAs with data analysis, model development, and backtesting. This is a great way to gain practical experience and learn the ropes.
2. Risk Modeling Analyst: Focuses on building and maintaining risk models for specific risk types
3. Data Analyst: Leverages data analysis skills to clean, prepare, and analyze data for risk assessments and model development.
Mid-Level:
1. Quantitative Risk Analyst: Conducts independent risk assessments, manages risk models, and communicates findings to stakeholders.
2. Quantitative Modeler: Specializes in developing and calibrating complex risk models using advanced statistical techniques and programming languages.
3. Stress Testing Analyst: Designs and executes stress testing scenarios to assess the organization's resilience under various risk conditions.
Senior-Level
1. Quantitative Risk Manager: Leads a team of QRAs, oversees risk management processes, and advises senior management on risk mitigation strategies.
2. Head of Quantitative Risk Management: Directs the entire risk management department, ensuring compliance with regulations and developing the overall risk management framework.


