Quantitative Analyst vs Investment Banker: Which Pays More?
Side-by-side salary comparison by city, experience level, and career growth outlook. Data reflects current market rates.
Quantitative Analyst
Build mathematical models for pricing, risk management, and algorithmic trading.
Investment Banker
Advise corporations on capital raising, M&A, and strategic financial transactions.
Quantitative Analyst earns more on average — the national median is $2,910/year (3%) higher than a Investment Banker. However, salaries vary significantly by city, employer, and experience level — see the city-by-city breakdown below.
Quantitative Analyst vs Investment Banker — Salary by City
National median figures in USD across top cities.
| City | Quantitative Analyst | Investment Banker | Difference |
|---|---|---|---|
| San Francisco, CA | $155,771 | $149,852 | Quantitative +$5,919 |
| New York, NY | $130,092 | $121,600 | Quantitative +$8,492 |
| Seattle, WA | $151,610 | $144,771 | Quantitative +$6,839 |
| Austin, TX | $116,913 | $111,968 | Quantitative +$4,945 |
| Chicago, IL | $113,324 | $110,184 | Quantitative +$3,140 |
| Boston, MA | $140,826 | $137,220 | Quantitative +$3,606 |
| London, UK | £80,687 | £80,088 | Quantitative +$599 |
| Toronto, Canada | CA$142,880 | CA$138,977 | Quantitative +$3,903 |
Frequently Asked Questions
Does a Quantitative Analyst or Investment Banker earn more?+
A Quantitative Analyst earns more on average. The national median salary for a Quantitative Analyst is $105,650/year, compared to $102,740/year for a Investment Banker — a difference of $2,910 (3%).
Which has better career growth — Quantitative Analyst or Investment Banker?+
Quantitative Analyst roles are growing at 18% YoY while Investment Banker demand is growing at 8% YoY. Quantitative Analyst has stronger near-term demand growth.
Can you switch from Quantitative Analyst to Investment Banker?+
Yes. Many professionals transition between these roles, especially since both are in the same category. Shared skills include: analytical thinking, communication, and industry knowledge.
Which is harder to automate — Quantitative Analyst or Investment Banker?+
Investment Banker has a lower AI automation risk (28% vs 35%). Based on Oxford Martin School and McKinsey 2023 analysis.