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Transaction Cost Analysis Jobs (NOW HIRING)

Invesco

Quant Researcher, Trading

New York, NY · On-site

$120K - $160K/yr

The role combines quantitative research, market and trading data analysis, transaction cost analysis, and tool development to support more effective trading strategies and investment outcomes. This ...

MFS

Trading Solutions Analyst

Boston, MA · On-site

This role also involves acting as a key liaison with internal client-facing teams, explaining trading processes, transaction cost analysis (TCA), and best execution practices. Additionally, the role ...

Invesco

Quant Researcher, Trading

New York, NY · Hybrid

$120K - $160K/yr

The role combines quantitative research, market and trading data analysis, transaction cost analysis, and tool development to support more effective trading strategies and investment outcomes. This ...

Invesco

Quant Researcher, Trading

Atlanta, GA · Hybrid

$120K - $160K/yr

The role combines quantitative research, market and trading data analysis, transaction cost analysis, and tool development to support more effective trading strategies and investment outcomes. This ...

Invesco

Quant Researcher, Trading

Manhattan, NY · Hybrid

$120K - $160K/yr

The role combines quantitative research, market and trading data analysis, transaction cost analysis, and tool development to support more effective trading strategies and investment outcomes. This ...

CERES Group

Trading Analyst

Boston, MA · On-site

Perform transaction cost analysis and generate reports for the members of the trading and investment teams, and participate in best execution meetings. * Cultivate and maintain relationships with ...

Neuberger Berman

Senior Trader

New York, NY · Hybrid

$175K - $215K/yr

Conduct and review Transaction Cost Analysis (TCA) to monitor and continuously improve execution quality * Identify and escalate risk issues appropriately to the Head of Trading Technology & Process ...

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All JobsTransaction Cost Analysis Jobs

Transaction Cost Analysis information

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$17.5K

$77K

$131K

How much do transaction cost analysis jobs pay per year?

As of Jun 5, 2026, the average yearly pay for transaction cost analysis in the United States is $76,977.00, according to ZipRecruiter salary data. Most workers in this role earn between $48,000.00 and $96,000.00 per year, depending on experience, location, and employer.

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

To thrive as a Transaction Cost Analyst, you need strong quantitative analysis skills, a solid understanding of financial markets, and a relevant degree such as finance, economics, or mathematics. Familiarity with advanced Excel functions, Bloomberg, and specialized TCA platforms, as well as knowledge of relevant regulatory frameworks, is typically required. Attention to detail, critical thinking, and effective communication are essential soft skills for interpreting data and presenting findings to stakeholders. These skills ensure accurate cost assessments, support informed trading decisions, and help firms optimize execution strategies in competitive markets.

What are some common challenges faced in a Transaction Cost Analysis (TCA) role, and how can these be addressed?

Professionals in Transaction Cost Analysis often encounter challenges such as handling large volumes of complex trade data, ensuring data accuracy, and adapting to evolving regulatory requirements. Overcoming these challenges involves staying updated with industry best practices, utilizing advanced analytics tools, and collaborating closely with trading desks, compliance teams, and IT departments. Strong communication skills and attention to detail are essential for identifying cost drivers and optimizing trading strategies. Proactively seeking feedback and continuous learning can also help address these challenges effectively.

What is Transaction Cost Analysis?

Transaction Cost Analysis (TCA) is a process used by financial professionals to evaluate the costs associated with trading securities, such as stocks or bonds. It helps firms understand the explicit and implicit costs incurred during trading, including commissions, fees, market impact, and slippage. By analyzing these costs, firms aim to improve trading strategies, enhance execution quality, and reduce unnecessary expenses. TCA is essential for ensuring best execution and regulatory compliance in financial markets.

What is the difference between Transaction Cost Analysis vs Trade Analyst?

AspectTransaction Cost AnalysisTrade Analyst
CredentialsTypically requires finance or economics degrees, certifications like CFASimilar credentials, often with finance or trading backgrounds
Work EnvironmentFinancial institutions, trading firms, asset managersTrading desks, investment firms, asset management companies
Primary FocusMeasuring and reducing trading costs, optimizing executionAnalyzing trade data, supporting trading strategies

Transaction Cost Analysis and Trade Analyst roles overlap in finance, focusing on trade efficiency and cost reduction. While Transaction Cost Analysts specialize in evaluating trading expenses, Trade Analysts often support trade execution and strategy. Both roles require strong analytical skills and finance credentials, working within similar environments to improve trading performance.

More about Transaction Cost Analysis jobs
What cities are hiring for Transaction Cost Analysis jobs? Cities with the most Transaction Cost Analysis job openings:
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Transaction Cost Analysis jobs near you
Infographic showing various Transaction Cost Analysis job openings in the United States as of May 2026, with employment types broken down into 83% Full Time, and 17% Part Time. Highlights an 88% Physical, 3% Hybrid, and 9% Remote job distribution, with an average salary of $76,977 per year, or $37 per hour.
Trading Research/Transaction Cost Analyst

Trading Research/Transaction Cost Analyst

Northern Trust

Chicago, IL

$116K - $197K/yr

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Posted 25 days ago

Northern Trust rating

8.0

Company rating: 8.0 out of 10

Based on 23 frontline employees who took The Breakroom Quiz

Job description

About Northern Trust:

Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889.

Northern Trust is proud to provide innovative financial services and guidance to the world's most successful individuals, families, and institutions by remaining true to our enduring principles of service, expertise, and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world's most sophisticated clients using leading technology and exceptional service.

Duties and Responsibilities:

  • Perform transaction cost analysis across multiple asset classes (primarily Equity, Fixed Income, Derivatives, and FX).
  • Analyze and optimize routing, venue, platform decisions and dealer selection in coordination with the trading teams
  • Evaluate dealer panels and dealer participation
  • Maintain and evolve the dealer benchmarking process.
  • Plays key role in supporting day-to-day business reporting, working closely with risk, compliance, and client reporting teams.
  • Works to evolve our trading research and analytics platform.

Competencies and Skills:

  • Knowledge of investment instruments, general industry practices, market structures, execution and measurement techniques, trust trading guidelines, regulatory environment and specific securities laws and regulations to ensure the most sophisticated level of trade execution for clients.
  • Knowledge of the context in which trading activity occurs (i.e., favorable and unfavorable effects of various transactions on asset prices, etc.), acquired through work experience, to execute trades with minimal market impact. Ability to recognize circumstances calling for difficult execution methodologies.
  • Skills for frequent external and internal presentation of data.
  • Highly organized, detailed oriented and able to work in a fast-paced and changing environment.
  • Ability to work closely with operational, risk and client-oriented departments.
  • Demonstrated problem solving and ability to create structured approaches to unstructured problems.
  • Demonstrated proficiency in managing multiple tasks/projects with efficiency and speed.
  • Agility to learn and quickly become comfortable with new technologies and processes.

Experience:
5+ years' experience within the trading process focused on cost analysis.

  • Undergraduate degree from an accredited university. Participation in Chartered Financial Analyst (CFA) program or MBA program preferred.
  • Highly experienced with database structures, data modeling, ETL processes and large data sets (experience with SQL, Microsoft Azure, Snowflake & Microsoft Excel preferred).
  • Experience with data visualization software (including Power BI or Tableau).
  • Experience with trading order management systems (OMSs), back-end trading architecture, and calling data using APIs.

Salary Range:

$116,100 - 197,300 USD

Salary range is a good faith estimate of base pay. Northern Trust provides a comprehensive benefits package including retirement benefits (401k and pension), health and welfare benefits (medical, dental, vision, spending accounts and disability), paid time off, parental and caregiver leave, life & accident insurance, and other voluntary and well-being benefits. Northern Trust also provides a discretionary bonus program that may include an equity component.

Working with Us:

As a Northern Trust partner, greater achievements await. You will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas.

Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve!Join a workplace with a greater purpose.

We'd love to learn more about how your interests and experience could be a fit with one of the world's most admired and sustainable companies! Build your career with us andapply today.#MadeForGreater

Reasonable accommodation

Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at MyHRHelp@ntrs.com.


We hope you're excited about the role and the opportunity to work with us. We value an inclusive workplace and understand flexibility means different things to different people.

Apply today and talk to us about your flexible working requirements and together we can achieve greater.

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