Quantitative Analyst Salary: Where It Sits on the Australian Salary Index

What is a quantitative analyst salary?

A quantitative analyst – often called a "quant" – uses mathematical and statistical models to solve financial and business problems. In Australia, this role typically sits within the Finance and Insurance Services or Professional, Scientific and Technical Services industries. Because the Australian Bureau of Statistics does not publish a separate category for quantitative analysts, the closest official occupation group is Actuaries, Mathematicians and Statisticians (ANZSCO 2241).

To understand where a quantitative analyst salary sits on the Australian salary index, we start with the national line. The Salary Index sets 100 as full-time adult ordinary-time earnings. According to the Australian Bureau of Statistics Average Weekly Earnings report for May 2026, that figure is $2,083.70 per week, or $108,352 a year. Men average $2,181 per week (index 104.7) and women $1,934.50 (index 92.8).

Where a quantitative analyst salary sits on the index

Jobs and Skills Australia reports that actuaries, mathematicians and statisticians earn a median full-time weekly income of $2,213 (based on May 2023 data). That annualises to about $115,076. Dividing by the national line of $108,352 and multiplying by 100 gives a salary index of approximately 106. In plain terms, a typical quantitative analyst earns about 6% above the national benchmark.

This index figure is a guide, not a guarantee. The actual pay for a quantitative analyst depends on the industry, the employer, and the individual's experience. For comparison, the national minimum wage from 1 July 2026 is $26.44 per hour, or $1,004.90 per week (index 48.2). Even an entry-level professional under a modern award – such as the Professional Employees Award – would start well above that, with a minimum hourly rate around $25.74 for the lowest classification.

Industry benchmarks

Quantitative analysts are most common in two industries tracked by the ABS. The Finance and Insurance Services industry has average weekly total cash earnings of $2,181.20 for full-time employees (May 2025), which annualises to $113,422 and gives an index of 104.7. The Professional, Scientific and Technical Services industry averages $2,072.40 per week ($107,765 annual, index 99.5). Both are close to the national line, but the proxy occupation data suggests quants tend to earn above these averages.

State variations

Where you work matters. The states page shows that the Australian Capital Territory has the highest state index at 109.9 (annualised $119,090), followed by Western Australia at 106.9 ($115,825). New South Wales sits at 101.2 ($109,658) and Victoria at 98 ($106,137). A quantitative analyst in Sydney or Melbourne might earn a premium due to the concentration of financial firms, but the cost of living also differs.

How awards and agreements affect pay

Most quantitative analysts are not covered by a modern award. The ABS reports that 38.5% of all employees have their pay set by individual arrangement, and 34.6% by collective agreement. Only 22.7% are on award-only rates. For professionals, individual contracts are common. However, some roles may fall under the Professional Employees Award if the employer uses it. That award sets minimum rates for various classification levels, but a quant with specialised skills would typically negotiate above those minima.

Superannuation is additional. From 1 July 2026, the super guarantee is 12% of ordinary time earnings, up to a maximum contribution base of $270,830. So on a $115,000 salary, an employer would contribute about $13,800 a year into super.

Tax and take-home pay

Using the 2026–27 resident tax rates (excluding Medicare), a gross annual salary of $115,076 would fall into the 30% marginal tax bracket (income between $45,001 and $135,000). After the tax-free threshold of $18,200, the estimated tax is about $25,000, plus the 2% Medicare levy ($2,301). That leaves a take-home of roughly $87,775, or $1,688 per week. These figures ignore HELP repayments, salary sacrifice, and the Medicare levy surcharge, which can change the outcome.

How the salary index helps you compare

The Salary Index lets you compare any pay figure against the national line. For example, if you earn $130,000 as a quantitative analyst, your index is 120 – meaning 20% above the national benchmark. If you earn $90,000, your index is 83 – below the line. This is useful whether you are negotiating a job offer, reviewing a pay rise, or just curious where your income sits.

Remember that the index uses gross ordinary-time earnings, not total package. Bonuses, commissions, and overtime are not included. Also, the index is a benchmark for full-time adults; part-time or junior rates would be different.

Final thoughts

A quantitative analyst salary in Australia is generally above the national average, with an estimated index around 106 based on the closest official occupation data. Actual pay varies by industry, state, and experience. For the most current figures, check pay guides and industry reports. The salary index gives you a simple way to see where any pay figure sits against the national line – 100 is the benchmark, and anything above means you are earning more than the typical full-time adult.

If you are comparing a specific job offer, use the index to see how it stacks up against the national minimum wage (index 48.2), the professional services industry average (index 99.5), or the finance industry average (index 104.7). That context helps you make an informed decision.