ZipRecruiter

Log In

1

Financial Engineering Jobs in Chicago, IL (NOW HIRING)

Mayer Brown Llp

Engineer: Financial Services

Chicago, IL · On-site

$95K/yr

Financial Services is responsible for the support and development of the Finance and Accounting ... Training or certifications in data engineering, cloud data platforms, data science, or analytics (e ...

Mayer Brown

Engineer: Financial Services

Chicago, IL · On-site

Financial Services is responsible for the support and development of the Finance and Accounting ... Training or certifications in data engineering, cloud data platforms, data science, or analytics (e ...

Mayer Brown

Engineer: Financial Services

Chicago, IL

Financial Services is responsible for the support and development of the Finance and Accounting ... Training or certifications in data engineering, cloud data platforms, data science, or analytics (e ...

Next Step Systems

C++ Software Developer

Chicago, IL · On-site

$50.50 - $68/hr

Responsibilities: - Work under general direction from senior management. - Collaborate closely with financial engineering and trading colleagues to understand functional objectives and requirements ...

Next Step Systems

Tactics Associate

Northbrook, IL · On-site

... PhD in financial engineering, applied math, statistics, econometrics, or related field (preferred). Benefits include medical insurance, retirement plan, PTO, etc. Salary: 80K+ DOE. Keywords:

Next Step Systems

Quantitative Analyst

Northbrook, IL · On-site

... PhD in financial engineering, applied math, statistics, econometrics, or related field (preferred). Benefits include medical insurance, retirement plan, PTO, etc. Salary: 80K+ DOE. Keywords:

Multivision Inc-IL

One Stream Developer

Chicago, IL · On-site

Sr. Programmer Analyst in the Finance Technology organization to develop and maintain a OneStream application, supporting the firm-wide Financial Planning and Analysis (FP&A). FP&A serves as the ...

CME Group

Staff Agentic Software Engineer

Chicago, IL · On-site

$125K/yr

This role is pivotal in driving both the technical evolution of our financial platforms and the transformation of our engineering workflows. You will lead the team in transitioning from traditional ...

next page

Showing results 1-20

All JobsFinancial Engineering JobsFinancial Engineering Jobs in Chicago, IL

Financial Engineering information

See Chicago, IL salary details

$78.3K

$114.2K

$140.1K

How much do financial engineering jobs pay per year?

As of Jul 27, 2026, the average yearly pay for financial engineering in Chicago, IL is $114,152.00, according to ZipRecruiter salary data. Most workers in this role earn between $103,000.00 and $128,300.00 per year, depending on experience, location, and employer.

What is the difference between Financial Engineering vs Quantitative Analyst?

AspectFinancial EngineeringQuantitative Analyst
Required CredentialsDegree in Financial Engineering, Mathematics, or related fields; often certifications like CQFDegree in Finance, Mathematics, or Statistics; certifications like CFA or CQF are common
Work EnvironmentFinancial institutions, hedge funds, investment banks; focus on product development and risk managementTrading desks, asset management firms; focus on data analysis and model development
Employer & Industry UsageUsed in risk management, derivatives pricing, and structured productsUsed in trading strategies, portfolio management, and risk assessment

Financial Engineering and Quantitative Analysts often share similar educational backgrounds and work in related financial sectors. While Financial Engineers focus on creating financial products and managing risks through complex models, Quantitative Analysts primarily analyze data to inform trading and investment decisions. Both roles require strong quantitative skills and often overlap in financial institutions.

What is financial engineering?

Financial engineering is the application of mathematical techniques, computer science, and statistical methods to solve problems and create innovative solutions in finance. Professionals in this field develop new financial products, manage risk, and optimize investment strategies using quantitative models. Financial engineers often work in banks, investment firms, hedge funds, or financial technology companies, helping organizations manage complex financial systems and products. The discipline combines finance, mathematics, statistics, and programming to address challenges in areas like derivatives pricing, risk management, and portfolio optimization.

What engineering jobs pay $500,000?

In financial engineering, senior roles such as Quantitative Research Directors, Chief Risk Officers, and senior quantitative analysts can earn $500,000 or more annually, especially with bonuses and profit sharing. These positions typically require advanced degrees, strong programming skills, and extensive experience in financial modeling and risk management.

What are the key skills and qualifications needed to thrive as a Financial Engineer, and why are they important?

To thrive as a Financial Engineer, you need a strong background in quantitative analysis, mathematics, programming, and finance, typically supported by a relevant degree such as financial engineering, mathematics, or computer science. Expertise in programming languages like Python, R, or C++, as well as familiarity with financial modeling software and risk management systems, is essential. Strong problem-solving, analytical thinking, and communication skills set top performers apart in this role. These skills are crucial for designing innovative financial products, managing complex risks, and translating quantitative insights into actionable business strategies.

What engineers make $300,000 a year?

In the field of financial engineering, professionals such as quantitative analysts, derivatives traders, and risk managers can earn $300,000 or more annually, especially with experience, advanced degrees, and proficiency in programming languages like Python or C++. These roles often require strong mathematical skills, knowledge of financial markets, and sometimes certifications like CFA or FRM.

What are some common challenges faced by financial engineers when implementing quantitative models in real-world financial institutions?

Financial engineers often encounter challenges such as aligning complex quantitative models with existing IT infrastructure and ensuring the models comply with regulatory requirements. Additionally, translating theoretical models into practical, scalable solutions that can handle large volumes of real-time data requires close collaboration with software developers and risk managers. Effective communication with non-technical stakeholders is also crucial, as financial engineers must explain model assumptions and results to decision-makers from diverse backgrounds.

What engineers make $200,000 a year?

In the field of financial engineering, professionals such as quantitative analysts and risk managers often earn $200,000 or more annually, especially with experience, advanced degrees, and proficiency in programming languages like Python or C++. Senior roles in investment banks, hedge funds, and financial technology firms typically offer compensation at or above this level, often including bonuses and incentives.

What is the work of a financial engineer?

A financial engineer develops mathematical models and uses quantitative techniques to analyze and manage financial risks, design trading strategies, and create financial products. They often work with programming tools like Python or C++ and require strong skills in mathematics, finance, and computer science. Their work supports decision-making in investment banks, hedge funds, and financial institutions.
What are the most commonly searched types of Financial Engineering jobs in Chicago, IL? The most popular types of Financial Engineering jobs in Chicago, IL are:
What are popular job titles related to Financial Engineering jobs in Chicago, IL? For Financial Engineering jobs in Chicago, IL, the most frequently searched job titles are:
What job categories do people searching Financial Engineering jobs in Chicago, IL look for? The top searched job categories for Financial Engineering jobs in Chicago, IL are:
Financial Engineering jobs near you
Infographic showing various Financial Engineering job openings in Chicago, IL as of July 2026, with employment types broken down into 91% Full Time, 6% Part Time, and 3% Contract. Highlights an 88% Physical, 4% Hybrid, and 8% Remote job distribution, with an average salary of $114,152 per year, or $54.9 per hour.
Quantitative Research Operations Analyst

Quantitative Research Operations Analyst

Mesirow Financial

Chicago, IL • On-site

$90K - $180K/yr

Full-time

Posted 5 days ago

Job description

The Opportunity

Mesirow is an independent, employee-owned financial services firm founded in 1937. Headquartered in Chicago, with offices around the world, we serve clients through a personal, custom approach to reaching financial goals and acting as a force for social good. With capabilities spanning Private Capital & Currency, Capital Markets & Investment Banking, and Advisory Services, we invest in what matters: our clients, our communities and our culture. We are proud of our employee-owned culture, built on collaboration and shared success, empowering our professionals to develop meaningful relationships, pursue growth opportunities and make a lasting impact for our clients and communities. Mesirow has been named one of the Best Places to Work in Chicago by Crain’s Chicago Business multiple times and is one of Barron’s Top 100 RIA firms.

The Mesirow Fiduciary Solutions division provides fiduciary partnership, investment management, asset allocation, and guaranteed retirement income product allocation services to institutional clients in the financial services industry, primarily in the defined contribution space.  Recent growth in investment management and retirement income opportunities has created a need for additional research capacity.

The role of the Quantitative Research Operations Analyst is to work with the Chief Investment Officer/Director of Quantitative Research to provide multi-purpose research support for the group’s investment management priorities. The role will initially be operationally focused, with the opportunity to grow into a full quantitative research analyst position responsible for new quantitative financial process development and client engagements. Areas of focus include strategic asset allocation and capital market assumptions; understanding, operating, and improving existing quantitative financial processes; and assisting in the development of new quantitative financial processes. This is a quantitative research operations role that involves substantial programming expertise and requires exceptional attention to detail.

Responsibilities:

  • Learn and further document existing quantitative financial processes, including strategic asset allocation, capital market assumptions, performance attribution, target date glide path development, and a simulation-based optimization framework for portfolio construction with guaranteed retirement income products.
  • Spearhead the operation of these processes to update ongoing internal and client deliverables and further enhance and improve these processes as business needs dictate.
  • Assist in the development of new quantitative financial processes to support strategic asset allocation, capital market assumption, performance attribution, and glide path construction initiatives, using statistical analysis, risk management techniques and simulation methods.
  • Meet with investment professionals within the Mesirow Fiduciary Solutions division to interpret analysis results and recommend changes in investment policy in response to the results.
  • Apply complex financial theory to help provide solutions to real-world problems.

Requirements:

  • An advanced degree in finance, economics, mathematics, statistics, financial engineering, or a related field is preferred, but B.S. holders with the required professional experience will be considered.
  • CFA charter holder or progress toward the CFA preferred.
  • 1-3 years of professional experience in quantitative financial research or a related field (asset allocation, capital market assumptions development, quantitative analysis, financial engineering, investment research) within the financial services industry is required.
  • Compensation is variable and commensurate with professional experience and education level.
  • Demonstrated exceptional attention to detail is paramount.
  • Significant programming experience, preferably in R, and advanced proficiency in Microsoft Excel are required. MATLAB experience is a plus.
  • Knowledge and experience in strategic asset allocation, capital market assumption development, optimization methods, statistical/econometric analysis and modeling and Monte Carlo simulation are desirable. Knowledge of annuity products is a plus.
  • Ability to convert academic research concepts into practical solutions for use by other members of the team.
  • Ability to communicate complex financial concepts effectively to internal clients and previous internal client-facing experience desired. 
  • Ability to work independently and interact with all levels within the organization. 
  • Superior skills in organization, time management, prioritization, research and self-motivation.
  • Desire to grow and thrive in a highly entrepreneurial environment.

In accordance with the Illinois Pay Transparency Law, the anticipated hiring base salary for the role will be between $90,000 and $180,000 per year. However, base pay if hired will be determined on an individualized basis and is only part of the total compensation package, which, also provides the opportunity for a bonus and the Mesirow benefit program.

EOE

Apply