An MBA is one of the most prestigious management degrees. Someone who holds a Master in Business Administration is guaranteed to be able to manage all the different processes of a business. However, as the world of business is becoming increasingly complex, demand for those with even more specialized skills is also on the rise. One such specialized skill is quantitative analysis. This is essentially the process of analyzing events and situations, focusing particularly on financial markets, using highly complex statistical and mathematical models.
What We Do
Someone with an MBA in Quantitative Analysis performs a large range of duties, including developing marketing strategies, managing accounting and finances and being a corporate leader. They are able to fully understanding the functions of the organization they work for and interpret the data that is available on that organization and industry in order to suggest changes. Some also have a focus on human behavior or business economics. These degree holders understand management science, use spreadsheets and statistics and make computer models and simulations. They focus on nonlinear, linear goal programming and integer techniques and research operations. Additionally, they understand the various statistical techniques and tools to help businesses succeed.
The exact roles that quantitative analysts perform vary depending on their specific qualifications and experience, as well as on their employer. However, they will usually gather financial information from a range of sources and analyze this. They will also employ mathematical formulas in order to determine how a product should be priced. They monitor the market and use their analysis to recommend new product ideas. They also ensure statistical data is simplified so that everyone across the organization can understand the various trends. Finally, they will focus on the sales of a certain product or service and determine whether or not it is successful, also using this data to determine what its longevity is likely to be.
Why It’s Hot
There are many reasons to consider an MBA in Quantitative Analysis as a career move. Indeed, its popularity is growing very rapidly as quantitative analysts take on roles of ever increasing importance. According to Payscale.com, salaries for these professionals ranges from $67,084 to $97,762. However, some of the top earners can enjoy six figure salaries as well. It is also believed that demand will grow rapidly as the world of business becomes increasingly complex.
In almost all cases, someone with this degree will work in an office. They will often be required to hold presentations to boards of directors and senior management or top executive teams. Some travel may be required, particularly to study market trends or best practice examples. However, almost all work will be done behind a computer sitting at a desk.
How to Do It
In order to obtain an MBA in Quantitative Analysis, you will first need to complete a four year bachelor’s degree. Various majors could be of interest, including finance, business, statistics, sociology or even psychology. Admission to MBA programs is highly competitive and you will almost always have to do well on the GMAT exam. It is also for this reason that you should consider applying to multiple schools, thereby increasing your chances of being accepted to one of them.
MBA in Quantitative Analysis Online
More and more professionals are choosing to study online. One of the great benefits of this is that you have the opportunity to continue to work while you study, effectively applying your new skills and knowledge as you study. Additionally, it is an opportunity to consider becoming an international student, which is particularly interesting for those studying towards an MBA, in which globalization is almost always an integral part of the curriculum. Some of the online options you may want to consider include:
- *Online MBA in Quantitative Analysis – Southern New Hampshire University – Learn to turn hard data into smart business practices with our practical and analytical coursework. You can understand the importance of analyzing and communicating data in any area of business. This program can be completed entirely online. No GMAT required for this Online MBA program.
- Online MBA with Business Analytics Concentration – Drexel University – Graduates are able to analyze and access business processes and data, thereby helping to improve the commercial decision making process. Students focus on evidence based practice and have a great understanding of performance. They use quantitative and statistical analysis of data and use this to develop predictive and explanatory models.
- Online Executive MBA in Managerial Economics and Quantitative Analysis – Athabasca University – This Canadian university offers students the ability to become experts in analyzing any type of business situation. The focus is specifically on microeconomics analysis.
- MBA in Quantitative Finance – Zagreb School of Economics and Management – This Croatian school offers one of the world’s most acclaimed and recognized MBA in Quantitative Finance programs. The program takes two semesters to complete and includes all the core courses of the MBA, while including elective courses to receive a quantitative analysis specializations.
- Professional MBA – Lasell College – This MBA is delivered 100% online and can be completed in 16 months. While it focuses on various elements of professional life, one of the most significant elements within this is based on quantitative skills.
- Online MBA: Data Analytics – Alliant International University – This degree prepares graduates to gain insights using a wide variety of data. Additionally, they learn to assess methods of data collection, improve the quality of data so it can be used in the future and more.
- MBA in Business Intelligence and Analytics – Nova Southeastern University H. Wayne Huizenga College of Business & Entrepreneurship – This program creates graduates who are able to truly analyze, understand and interpret data of all sizes within the organization they work for and translate this into actionable plans.
- Business Administration: Specialization in Business Analytics M.B.A., Certificate – University of Nebraska Lincoln – This program is ranked 21st in the nation for best online MBA programs, which says a great deal about its quality. Additionally, the school prides itself on its affordability.
- Business Analytics Specialization in MBA – University of Nebraska Online Worldwide – This program builds on the standard MBA and adds a focus in econometrics, business analytics, data mining applications and strategic database marketing. UNOW is ranked in the top 10 of America’s best online MBA degree programs for 2017.
- MBA Program with Business Analytics Concentration – UNC Charlotte – Belk College of Business – UNC Charlotte offers a concentration in business analytics that includes three core courses and one elective course on top of the regular MBA requirements.
- Online Professional MBA Degree with Business Analytics Concentration – The University of Tennessee at Chattanooga – This program focuses on four specific elements with business analytics, being databases and data warehouses, advanced queries and business reports, data mining and analytics and advanced data analytics.
Pros & Cons
Entering an MBA in Quantitative Analysis program is a decision not to be taken lightly. It takes a substantial investment both in terms of time and money. Hence, you must understand the pros and cons of this degree and how it will affect your career.
- The degree is incredibly prestigious and you will gain instant professional respect.
- Salary is well above average.
- Demand is rising.
- You will have the opportunity to make a true difference to the organization you work.
- The responsibilities resting on your shoulders are heavy and if you make a mistake, it could be costly for your organization.
- The chance of burnout is high.
- Southern New Hampshire University – SNHU offers a range of different scholarships. Most of these are merit-based, although links to external funding sources are also made available.
- University of Virginia – The University of Virginia has an on campus MBA in Quantitative Analysis MBA program, and they also offer a range of scholarships for their students.
- Lasell College – This colleges offers a number of scholarship opportunities for its students.
- Alliant International University – Alliant offers a range of scholarships to its students, as well as various financial aid options.
- Nova Southeastern University – NSU offers new scholarships, institutional scholarships, external scholarships and international scholarships to its students.
- Operations research analyst: using statistical and mathematical methods of analysis in order to determine issues and problems in the operations of a business, such as sales or production. You will use various databases and other sources to gather information on the problem and to find solutions. Interviewing employees is a big part of this job.
- Management analyst: focusing on identifying new methods of improving the efficiency of the business you work for. You will interview employees and gather data, not unlike an operations research analyst, in order to identify problems and their causes and come up with creative solutions to resolve them. You will also be expect to anticipate problems and stop them from happening in the first place.
- Market research analyst: gathering and analyzing pieces of data about competitors and consumers alike, so that you can predict sales trends and adapt a marketing strategy for it. You will be looking into the prices charged by competitors for similar products and services, as well as researching their marketing methods. The information you gather can be used to determine whether demand will continue or start to exist and at what price. Consumer behavior research is a very hot topic in the world of business today, and this is perhaps one of the most in demand areas of work for someone with an MBA in Quantitative Analysis.
- Journal of Financial and Quantitative Analysis
- Journal of Quantitative Analysis in Sports
- Quantitative Analysis of Culture Using Millions of Digitized Books
- Print: Applying Quantitative Analysis to Classic Lit
- Wilmott Magazine
Six websites with helpful resources for those working in field relevant to an MBA in Quantitative Analysis
- Association to Advance Collegiate Schools of Business
- Society of Quantitative Analysts
- American Society for Quantitative Analysis
- BMC Public Health
- Automatic quantitative analysis of t-tubule organization in cardiac myocytes using ImageJ