Quantitative Analyst Jobs in Chicago, IL
About Quantitative Analyst Jobs in Chicago
Looking for a Quantitative Analyst job in Chicago? You're in the right place. This guide covers everything you need to know about working as a Quantitative Analyst in Chicago, IL.
We'll show you what you can expect to earn. We'll also share which companies are hiring. Plus, you'll learn about the cost of living and how to get started in your job search.
Chicago has a strong job market for Quantitative Analysts. Many employers are actively looking for talent. Read on to learn how to land your next role.
Quantitative Analyst Salary in Chicago
Quantitative Analyst salaries in Chicago are in line with national averages, offering competitive compensation for the region.
Purchasing power in Chicago is comparable to the national average, with salaries appropriately scaled to local costs.
Required Skills
Quantitative Analyst Job Market in Chicago
Chicago, IL is one of America's premier job markets for Quantitative Analyst professionals. With a population of 2.7 million, the Chicago-Naperville-Elgin metro area offers diverse opportunities across multiple industries. While Finance leads the local economy, there's growing demand for Quantitative Analyst roles across various sectors. The market for Quantitative Analyst positions remains stable, with opportunities in both established companies and growing organizations.
Top Companies Hiring Quantitative Analysts in Chicago
Major employers hiring Quantitative Analysts in Chicago include City of Chicago, CTA, ComEd, United Airlines. Many companies offer competitive benefits including comprehensive healthcare, and professional development opportunities.
Cost of Living for Quantitative Analysts in Chicago
Living in Chicago as a Quantitative Analyst means navigating a cost of living that's slightly above the national average. Average rent for a 1-bedroom apartment is approximately $2,100/month. At median Quantitative Analyst salary, housing is quite affordable at 17% of gross income, leaving room for savings and lifestyle spending. Suburban apartments average $1,400/month, offering significant savings with slightly longer commutes.
Commuting as a Quantitative Analyst in Chicago
Chicago CTA "L" train system with 8 lines, extensive bus network. The average commute time is 35 minutes. The "L" runs 24/7 on some lines - great for varied work schedules. Living near an L station is key - commutes can double otherwise.
Best neighborhoods for Quantitative Analysts in Chicago: Downtown (Central business district with tech companies); Tech Park/Campus (Suburban office park developments). Downtown is particularly popular among Quantitative Analyst professionals due to proximity to major employers and urban amenities.
Tax Considerations in Illinois
Illinois has moderate state income taxes. When evaluating offers, consider total compensation including benefits, not just base salary. Local cost of living typically has more impact on your finances than state tax differences.
Career Outlook for Quantitative Analysts
The job outlook for Quantitative Analysts in Chicago is stable. While not experiencing rapid growth, the field maintains steady demand with consistent opportunities for qualified professionals. As a Tier 1 market, Chicago typically has more openings but also more competition from experienced professionals. In-demand skills include Quantitative Modeling, Python/R, Statistics, Financial Markets.
Relocating to Chicago
Winters can be harsh. Budget for winter clothing, and many employers understand weather-related delays during snow events.
Frequently Asked Questions
What is the average Quantitative Analyst salary in Chicago, IL?
The average Quantitative Analyst salary in Chicago, IL is $149,800 per year. Entry-level Quantitative Analysts typically start around $90,950, while experienced professionals can earn $221,490 or more. The national average for Quantitative Analyst roles is $140,000.
How many Quantitative Analyst jobs are available in Chicago?
Chicago has a robust job market with hundreds of openings for Quantitative Analyst professionals. Major employers hiring Quantitative Analysts include City of Chicago, CTA, ComEd, United Airlines. The Finance and Technology sectors drive much of the demand in this market.
Is Chicago a good city for Quantitative Analysts?
Chicago is an excellent choice for Quantitative Analysts. As a major metro area, it offers abundant opportunities and competitive salaries. The cost of living is reasonable compared to major coastal cities. The city's finance industry creates strong demand for data & analytics professionals.
What skills are most in-demand for Quantitative Analysts in Chicago?
Top skills for Quantitative Analysts in Chicago include Quantitative Modeling, Python/R, Statistics, Financial Markets, Machine Learning. Employers value both technical expertise and soft skills like communication and teamwork.
What is the cost of living for Quantitative Analysts in Chicago?
Chicago's cost of living is near the national average (107% of baseline). Average rent for a 1-bedroom apartment is approximately $2,100/month. Purchasing power in Chicago is comparable to the national average, with salaries appropriately scaled to local costs.
How is the commute for Quantitative Analysts in Chicago?
Chicago CTA "L" train system with 8 lines, extensive bus network. The average commute is 35 minutes. The "L" runs 24/7 on some lines - great for varied work schedules.
More Data & Analytics Jobs in Chicago
Career Resources
Popular Jobs in Chicago
Quantitative Analyst in Other Cities
Get Hired Faster
Create an AI-optimized resume tailored for Quantitative Analyst jobs in Chicago.
Get Started Free