Quantitative analysts are staying comparatively safe in the current cut-throat world of Aussie banking. And there are also opportunities in the corporate sector.
Quants offer pure, unemotional mathematical analysis, which is much needed in these turbulent times.
“They are not for the chopping board. They’re not dreading the phone call. Good quants are very good at what they do,” says Andrew Blades, general manager at recruiter Bradman Recruitment.
As well as their ability to assess stock markets, quants’ support and implementation skills are needed because of integration projects in the local banking sector, says Melissa Tal a consultant at recruiter Michael Page.
And even if some banks are not hiring, neither are they firing. After all, quants analyse the market, whichever way it’s moving.
Corporates that need heavy-duty market models – especially telecoms, media, IT and commodity companies -. hire quants. Blades reckons good quants can “easily migrate to an ASX 20 company”.
Employers from climate change organisations to derivatives trading firms and insurers also need highly skilled mathematicians.
Tal agrees that it’s often easy for quants to get non-banking jobs. “It is not unusual to see them contemporaneously applying for different jobs in different sectors. They are the very top academic achievers, are rare and highly valued,” she adds
Base pay is fairly universal but non-banking jobs lack the same level of bonuses, says Corey Babich, a recruiter at Robert Walters. Hedge funds might outdo everyone on the total-compensation front if there’s an equity component in the package.
Is life really this good for quants? Let us know your thoughts below.