Don't quit if you're a quant

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.

ìThey are not for the chopping board. Theyíre not dreading the phone call. Good quants are very good at what they do,î Andrew Blades, general manager at recruiter Bradman Recruitment., tells eFinancialCareers.

As well as their ability to assess stock markets, quantsí 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 itís moving.

Corporates that need heavy-duty market models – especially telecoms, media, IT and commodity companies –. hire quants. Blades reckons good quants can ìeasily migrate to an ASX 20 companyî.

Employers from climate change organisations to derivatives trading firms and insurers also need highly skilled mathematicians.

Tal agrees that itís often easy for quants to get non-banking jobs. ìIt 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,î 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 thereís an equity component in the package.