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Quant Jobs in Chicago, IL (NOW HIRING)

IMC

Quantitative Developer - Derivatives

Chicago, IL · On-site

$175K - $250K/yr

... Quant Developer or Strategist. Your Core Responsibilities * Design and implement high-performance numerical algorithms for pricing and risk * Build and improve models that reflect real market ...

Point72

Cubist Quantitative Researcher

Chicago, IL · On-site

ROLE Entry-Level Quantitative Researchers are responsible for conducting rigorous quantitative research with a focus on predictive models. You will be trained in all aspects of systematic trading ...

Corgi Insurance

Quantitative Associate

Chicago, IL · On-site

$200K - $350K/yr

Build and maintain quantitative models to support pricing, underwriting, forecasting, and business decision-making. * Support the Head of Underwriting in: * The management of the Corgi insurance ...

Old Mission

Quantitative Researcher (ETFs)

Chicago, IL

$170K - $300K/yr

... the quant team and be expected to have an entrepreneurial mindset. Responsibilities * Investigate existing equities, commodities, and FX pricing models and propose improvements. * Calibrate new ...

The Sound

Director - Quantitative Research

Chicago, IL · On-site

As our Quant Director, you wont just oversee researchyou will own the commercial impact of our insights. We need a critical thinker to uncover the "problem behind the problem" and ensure our work ...

The Sound

Director - Quantitative Research

Chicago, IL · On-site

$140K - $160K/yr

As our Quant Director, you won't just oversee research--you will own the commercial impact of our insights. We need a critical thinker to uncover the "problem behind the problem" and ensure our work ...

The Sound

Director - Quantitative Research

Chicago, IL · On-site

$140K - $160K/yr

As our Quant Director, you won't just oversee research-you will own the commercial impact of our insights. We need a critical thinker to uncover the "problem behind the problem" and ensure our work ...

The Sound

Director - Quantitative Research

Chicago, IL · On-site

$140K - $160K/yr

As our Quant Director, you won't just oversee research-you will own the commercial impact of our insights. We need a critical thinker to uncover the "problem behind the problem" and ensure our work ...

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All JobsQuant JobsQuant Jobs in Chicago, IL

Quant information

See Chicago, IL salary details

$101K

$174.8K

$267.3K

How much do quant jobs pay per year?

As of Aug 10, 2026, the average yearly pay for quant in Chicago, IL is $174,845.00, according to ZipRecruiter salary data. Most workers in this role earn between $138,600.00 and $205,000.00 per year, depending on experience, location, and employer.

What does a quant do?

Quant refers to a quantitative analyst whose responsibilities are to research and analyze market trends in finance. As a quant, you research and decipher statistics and design financial models to help banks, insurance companies, and other finance-focused organizations assess and prevent their risk, make sound investments, and better understand pricing structures to increase profit. Your duties also include creating codes for programs that follow financial trends and patterns, recording data and analyses, and consulting with business leaders in an organization to offer suggestions to combat potential financial risks. Large financial institutions and firms with trading processes typically hire quants.

What is a quant?

Quants, short for quantitative analysts, are professionals who use mathematical models, statistics, and computational techniques to analyze financial data and develop trading strategies. They are typically employed by investment banks, hedge funds, asset management firms, and financial technology companies. Quants play a crucial role in pricing securities, managing risk, and optimizing portfolios. Their expertise is essential for making data-driven decisions in complex financial markets.

What are some common challenges faced by quants when collaborating with software developers and traders?

Quants often encounter challenges in bridging the gap between theoretical models and practical implementation. Effective communication is essential, as translating complex quantitative concepts into actionable trading strategies requires close collaboration with both software developers and traders. Misunderstandings can occur due to differences in technical language or priorities, so fostering a collaborative environment and being open to feedback is crucial. Regular meetings and clear documentation can help ensure that models are accurately implemented and aligned with trading objectives.

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

To thrive as a Quant, you need strong quantitative and analytical skills, typically supported by advanced degrees in mathematics, statistics, physics, or related fields. Proficiency with programming languages like Python or C++, financial modeling, and familiarity with tools such as MATLAB or R are essential, along with knowledge of financial markets. Exceptional problem-solving, attention to detail, and effective communication help Quants stand out in collaborative and high-stakes environments. These skills enable Quants to develop robust models and strategies that drive critical decision-making and risk management in finance.

What is the difference between Quant vs Data Analyst?

AspectQuantData Analyst
Required CredentialsDegree in Math, Finance, or Computer Science; often requires advanced degreesBachelor's in Statistics, Economics, or related field; sometimes requires certifications
Work EnvironmentFinancial firms, hedge funds, investment banksCorporations, consulting firms, market research
Employer & Industry UsagePrimarily in finance and tradingAcross various industries including finance, marketing, healthcare
Common Search & Comparison IntentUnderstanding quantitative roles in financeExploring data analysis careers

While both Quant and Data Analyst roles involve working with data, Quants focus on developing complex models for trading and risk management in finance, often requiring advanced degrees and specialized skills. Data Analysts typically interpret data to inform business decisions across industries, with a broader scope and different tools. The roles overlap in data handling but differ significantly in application and industry focus.

Do quants get paid well?

Quantitative analysts, or quants, typically earn high salaries due to their specialized skills in mathematics, programming, and finance. Compensation often includes base pay, bonuses, and profit-sharing, reflecting the demand for their expertise in trading, risk management, and financial modeling.
More about Quant jobs
What are the most commonly searched types of Quant jobs in Chicago, IL? The most popular types of Quant jobs in Chicago, IL are:
What are popular job titles related to Quant jobs in Chicago, IL? For Quant jobs in Chicago, IL, the most frequently searched job titles are:
What job categories do people searching Quant jobs in Chicago, IL look for? The top searched job categories for Quant jobs in Chicago, IL are:
Quant jobs near you
Infographic showing various Quant job openings in Chicago, IL as of August 2026, with employment types broken down into 100% Full Time. Highlights an 50% In-person, and 50% Remote job distribution, with an average salary of $174,845 per year, or $84.1 per hour.

Quantitative Developer - Derivatives

IMC

Chicago, IL • On-site

$175K - $250K/yr

Full-time

PTO

Re-posted 24 days ago

Job description

We're looking for a Quantitative Developer - Derivatives to join our Chicago office.
At IMC, the Pricing and Risk (PAR) team owns the firm's core quantitative library for live derivatives pricing and risk. This library sits directly in the critical path of our HFT market making systems and serves as the real-time source of truth for valuation across all strategies. It is both foundational and constantly evolving, with extremely high expectations for performance and correctness.
The platform runs at scale across thousands of servers and is developed collaboratively across desks and regions. The team works closely with global counterparts to ensure consistency in how derivatives are modeled and priced across the firm.
Our primary focus is options and volatility modeling, alongside support for a broader set of asset classes including fixed income, ETFs, and FX.
This role sits at the intersection of quantitative modeling and high-performance engineering, similar to roles often titled Quant Developer or Strategist.
Your Core Responsibilities
  • Design and implement high-performance numerical algorithms for pricing and risk
  • Build and improve models that reflect real market behavior, balancing accuracy, stability, and latency
  • Own core components of the firm's pricing library, from models to calculation graphs to central infrastructure
  • Work closely with quants and engineers to ensure models are robust, explainable, and production-ready
  • Contribute across the full lifecycle: research, implementation, validation, and performance optimization
  • Write clean, maintainable production code in C++ and Java

Your Skills and Experience
  • 5+ years of experience in a trading or financial environment working on pricing or risk systems
  • Strong understanding of derivatives pricing, especially options and volatility
  • Solid background in mathematics, physics, computer science, or a related quantitative field
  • Extensive C++ and/or Java skills, with experience building production systems
  • Experience working closely with quants, traders, or similarly technical stakeholders
  • Ability to translate quantitative models into reliable, scalable systems
  • Experience with PDE methods or other advanced numerical techniques is a strong plus
  • Familiarity with numerical analysis (stability, convergence, error propagation) is a plus

The Base Salary range for the role is included below. Base salary is only one component of total compensation; all full-time, permanent positions are eligible for a discretionary bonus and benefits, including paid leave and insurance. Please visit Benefits - US | IMC Trading for more comprehensive information.
Salary Range
$175,000-$250,000 USD
About Us
IMC is a global trading firm powered by a cutting-edge research environment and a world-class technology backbone. Since 1989, we've been a stabilizing force in financial markets, providing essential liquidity upon which market participants depend. Across our offices in the US, Europe, Asia Pacific, and India, our talented quant researchers, engineers, traders, and business operations professionals are united by our uniquely collaborative, high-performance culture, and our commitment to giving back. From entering dynamic new markets to embracing disruptive technologies, and from developing an innovative research environment to diversifying our trading strategies, we dare to continuously innovate and collaborate to succeed.

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