What is the difference between a quant analyst and a quant researcher?

Analyst roles lean applied - using established methods well, on concrete problems, and communicating the result. Research roles lean toward developing methods, with correspondingly deeper theory in the interview.

How much derivatives knowledge is expected?

A working intuition for payoffs, the Greeks and no-arbitrage arguments is usually expected. Full pricing theory is rarely required for early rounds, but understanding why a hedge works is.

Quant Analyst Interview Questions

Quant analyst interviews cover applied probability and statistics, derivatives and pricing intuition, and the ability to explain a quantitative result clearly to people who will act on it.

Expect applied probability and statistics rather than heavy theory: distributions, expectation and variance, hypothesis testing and regression, applied to concrete situations. Derivatives and pricing intuition feature strongly - payoffs, the Greeks, put-call parity and no-arbitrage reasoning.

Communication carries real weight in these rounds. A result you cannot explain to a trader or a risk manager is not a useful result, so practise narrating your reasoning and stating your assumptions as you go.

173 questions tagged to Quant Analyst · 112 free to practise now.

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Topics:Statistics Probability Random Variables Combinatorics Finance & Derivatives Brainteasers

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Frequently asked questions

What is the difference between a quant analyst and a quant researcher?: Analyst roles lean applied - using established methods well, on concrete problems, and communicating the result. Research roles lean toward developing methods, with correspondingly deeper theory in the interview.
How much derivatives knowledge is expected?: A working intuition for payoffs, the Greeks and no-arbitrage arguments is usually expected. Full pricing theory is rarely required for early rounds, but understanding why a hedge works is.