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Average Bank Quantitative Analyst Salary in India for 2026

A bank quantitative analyst in India earns about 403,100 INR a year. That's 5% roughly in line with the national average of 384,200 INR.

Pay ranges widely from country to country and from role to role. The lowest reported salaries in India sit around 190,500 INR a year, while the very top stretches to 639,100 INR. Everything on this page is in Indian rupee (INR, symbol ₹), which lets you compare numbers like-for-like without worrying about exchange rates.

The numbers here are pulled together from official government wage data, large independent salary surveys, and aggregated worker-reported pay. Most reported salaries include the benefits that are common in India, such as housing or transport allowances, which is worth keeping in mind if you're comparing against a country where those are usually paid on top.

How much does a bank quantitative analyst make in India?

Average salary
403,100 INR
33,591 INR per month
Lowest reported
190,500 INR
15,875 INR per month
Highest reported
639,100 INR
53,258 INR per month

A typical bank quantitative analyst working in India brings home around 33,591 INR a month before tax. Entry-level pay starts near 190,500 INR, and the top of the ladder reaches roughly 639,100 INR for the most experienced and specialised people in the role.

The wide gap between low end and top end reflects how much pay can vary inside the same job title. A junior bank quantitative analyst working at a small local employer earns very different money from a senior at a multinational. Skills, employer, city and years in the seat all push the number around.

How bank quantitative analyst pay ranges in India

A good way to think about salary in India is to look at the distribution rather than the headline average. Half of all bank quantitative analysts in India earn less than 426,700 INR a year, and the other half earn more. That middle number is the median, and it is usually more useful than the average for answering "is my pay normal here".

Looking at the quartiles fills in the picture. A quarter of earners take home less than 277,400 INR (the 25th percentile), and a quarter clear 563,300 INR (the 75th percentile). The middle 50% of bank quantitative analysts sit somewhere inside that band, which is where the typical reader of this page probably lives.

The very lowest reported salaries sit around 190,500 INR. The highest stretch to 639,100 INR, though only a small fraction of earners ever reach that level. If you are deciding whether your own offer or current pay is reasonable, work out which of those four bands you would fall into and use that as your reference point.

190,500
Low
426,700
Median
639,100
High
277,400
25th
563,300
75th
The middle 50% sit between the 25th and 75th percentile Tails are the lowest and highest reported All figures in INR

Bank quantitative analyst pay by experience in India

Years of experience is the single biggest lever on pay for a bank quantitative analyst in India, ahead of education and almost any other single factor. The longer you have been in the role, the more your employer can trust you to handle complexity, mentor others and act independently, all of which command higher pay. The chart below shows how the typical bank quantitative analyst salary changes as you move through the career ladder.

  • 0-2 Years
    217,900 INR
  • 2-5 Years
    +38% from previous
    301,300 INR
  • 5-10 Years
    +43% from previous
    431,100 INR
  • 10-15 Years
    +22% from previous
    524,400 INR
  • 15-20 Years
    +6% from previous
    553,800 INR
  • 20+ Years
    +9% from previous
    602,700 INR

The single largest jump on the ladder is from 2 - 5 Years to 5 - 10 Years, where pay rises by about 43%. That is the point at which a bank quantitative analyst typically goes from "competent in the role" to "the person other people in the team learn from", and the market pays well for that step.

Bank quantitative analyst pay by education in India

Education sits alongside experience as one of the biggest factors driving bank quantitative analyst pay in India. Higher qualifications consistently pull higher salaries, but the size of the gap tends to be smallest at junior levels and widens as people move up. Two people in the same role with the same years of experience but different degrees can end up earning very different money once they reach mid-career.

Below is the average bank quantitative analyst salary in India broken down by the highest level of education a worker has completed.

  • Bachelor's Degree
    301,300 INR
  • Master's Degree
    +84% from previous
    553,800 INR

Bank quantitative analyst gender pay gap in India

The gender pay gap is a stubborn feature of almost every labour market, and India is no exception. Male bank quantitative analysts in India earn an average of 433,400 INR a year, while female bank quantitative analysts earn around 378,800 INR. That works out to a 14% gap in favour of men, even when comparing people doing the same work.

A pay gap of this size has a real long-term cost. Over a typical thirty-year career it can add up to several years of pay, and it compounds through pensions, retirement contributions and bonus-linked stock. Some of the gap is explained by women being more likely to work part-time, take career breaks, or be steered toward lower-paying specialisations. Some of it is straightforward unequal pay for the same job, which is harder to defend.

Bank Quantitative Analyst gender pay gap

13%

Men earn this much more than women on average in India.

Men 433,400 INR
Women 378,800 INR

Pay raises for a bank quantitative analyst in India

Most countries hand out at least some kind of pay raise every year, typically when an employee's contract is reviewed or as a cost-of-living adjustment to keep wages roughly in step with inflation. The rhythm and size of those raises varies hugely between industries.

A typical worker doing this role in India sees a raise of about 13% every 15 months, which works out to roughly 10% on an annual basis. That figure is the typical underlying rate; in years where inflation runs high you can usually expect a bit more, and in flat-economy years a bit less.

Across all jobs in India, the national average raise is around 9% every 16 months.

By industry

Industries with the highest pay raises in India:

  • Banking
    1%
  • Energy
    2%
  • Information Technology
  • Healthcare
  • Travel
  • Construction
  • Education

By experience level

Experienced workers tend to see larger raises. Retaining a senior is cheaper than replacing them, so employers fight harder for them.

  • Junior Level
    3% - 5%
  • Mid-Career
  • Senior Level
  • Top Management

Bank quantitative analyst bonus rates in India

Bonuses are the other half of total compensation, and they vary a lot between jobs and industries. Some roles are paid almost entirely in base salary; others lean heavily on bonus structures tied to revenue, project completion or company performance. Whether a job pays a bonus, how big it is, and how often it lands all factor into whether the headline salary is actually a good offer.

83%

83% of bank quantitative analysts in India reported a bonus of some kind in the past twelve months. That makes a bank quantitative analyst a high-bonus role overall, which is useful context when you're weighing up a job offer where the base is below market.

Among those who did receive a bonus, the size of the payment varied substantially. Reported bonuses ranged from 5% to 9% of base salary. The remaining 17% of bank quantitative analysts reported no bonus at all over the same period.

Which careers pay bonuses in India

Revenue-facing roles tend to pay the biggest bonuses. Operational and support roles tend toward smaller, more predictable ones.

  • Finance
  • Architecture
  • Sales
  • Business Development
  • Marketing / Advertising
  • Information Technology
  • Healthcare
  • Insurance
  • Customer Service
  • Human Resources
  • Construction
  • Transport
  • Hospitality

Bank quantitative analyst: public vs private sector pay

Public-sector pay in India is about 6% more than private-sector pay for similar work. The private sector typically offers stronger upside and bigger bonuses; the public sector typically offers better benefits and stability.

Public vs private pay gap

5%

Public-sector workers earn this much more than private-sector workers in India on average.

Public sector 392,300 INR
Private sector 371,100 INR

Bank quantitative analyst salary by city and region in India

Bank quantitative analyst pay is not even across India. The chart below shows the highest-paying cities and regions in the dataset, followed by the full location table.

  • Tamil Nadu
  • Uttar Pradesh
  • Bihar
  • Karnataka
  • Gujarat
  • Mumbai
  • Rajasthan
  • Maharashtra
  • Madhya Pradesh
  • Delhi (city)
LocationTypeAverageMedianRange
Tamil NaduRegion489,500 INR450,300 INR263,900-739,500 INR
Uttar PradeshRegion485,200 INR504,300 INR232,400-761,400 INR
BiharRegion485,200 INR524,700 INR221,500-774,200 INR
KarnatakaRegion483,400 INR492,400 INR237,400-751,700 INR
GujaratRegion480,600 INR450,300 INR254,700-732,400 INR
MumbaiCity472,100 INR480,300 INR232,900-735,200 INR
RajasthanRegion466,900 INR447,700 INR240,500-714,300 INR
MaharashtraRegion466,300 INR437,300 INR246,200-706,200 INR
Madhya PradeshRegion464,900 INR448,500 INR240,500-714,600 INR
Delhi (city)City464,900 INR436,200 INR246,500-707,700 INR
BangaloreCity464,400 INR491,000 INR216,800-732,400 INR
West BengalRegion464,400 INR472,000 INR228,500-722,100 INR
KeralaRegion450,300 INR450,300 INR225,300-698,200 INR
ChennaiCity448,500 INR420,100 INR239,000-681,900 INR
AhmadabadCity447,300 INR447,300 INR221,500-692,500 INR
HyderabadCity447,300 INR437,300 INR227,600-687,100 INR
AssamRegion445,100 INR409,000 INR239,000-672,600 INR
PunjabRegion436,200 INR431,100 INR221,500-675,100 INR
Andhra PradeshRegion433,800 INR419,400 INR228,500-667,400 INR
KolkataCity431,300 INR415,900 INR225,300-663,200 INR
JharkhandRegion431,100 INR447,300 INR207,800-675,100 INR
OrissaRegion431,100 INR436,200 INR209,700-670,600 INR
HaryanaRegion430,500 INR396,300 INR232,400-650,700 INR
PuneCity426,700 INR426,700 INR214,000-664,500 INR
BhopalCity424,900 INR451,000 INR197,600-672,600 INR
SuratCity424,300 INR415,900 INR215,100-652,200 INR
JaipurCity417,100 INR428,400 INR204,000-653,200 INR
KanpurCity412,000 INR403,100 INR209,700-632,400 INR
Delhi (region)Region412,000 INR403,100 INR209,700-633,300 INR
ManipurRegion411,400 INR377,200 INR218,900-619,000 INR
TripuraRegion411,400 INR442,300 INR189,300-652,200 INR
UttaranchalRegion411,400 INR433,800 INR191,600-646,600 INR
ChhatisgarhRegion409,000 INR424,900 INR196,800-643,400 INR
LucknowCity407,100 INR388,100 INR209,500-623,200 INR
Jammu & KashmirRegion404,600 INR431,100 INR192,000-641,900 INR
Himachal PradeshRegion404,600 INR436,200 INR187,300-645,800 INR
NagpurCity403,100 INR394,300 INR204,000-620,300 INR
Pimpri-ChinchwadCity396,300 INR431,100 INR183,600-633,100 INR
MeghalayaRegion396,300 INR431,100 INR183,600-633,100 INR
Arunachal PradeshRegion394,500 INR371,100 INR209,700-602,700 INR
VadodaraCity394,500 INR381,800 INR207,800-605,700 INR
IndoreCity394,500 INR426,700 INR183,600-629,800 INR
VisakhapatnamCity394,300 INR419,400 INR185,100-623,200 INR
LudhianaCity388,100 INR414,000 INR183,700-615,700 INR
CoimbatoreCity386,400 INR357,700 INR209,700-585,900 INR
agraCity386,400 INR363,000 INR204,000-589,400 INR
PatnaCity385,300 INR409,000 INR181,600-608,500 INR
PondicherryRegion385,300 INR385,300 INR191,600-597,800 INR
NagalandRegion377,200 INR390,000 INR181,600-592,600 INR
GhaziabadCity371,100 INR386,400 INR180,300-583,000 INR
Dadra & Nagar HaveliRegion367,200 INR376,800 INR180,500-573,500 INR
MizoramRegion367,200 INR388,100 INR172,400-580,600 INR
GoaRegion366,200 INR351,900 INR192,000-559,000 INR
MaduraiCity354,000 INR382,600 INR161,600-563,300 INR
ChandigarhRegion354,000 INR377,200 INR168,100-562,200 INR
SikkimRegion352,000 INR327,300 INR187,500-533,100 INR
Daman & DiuRegion351,900 INR351,900 INR176,800-545,300 INR
Andaman & Nicobar IslandsRegion345,100 INR340,000 INR176,800-533,100 INR
LakshadweepRegion345,100 INR339,100 INR174,000-529,600 INR

Bank Quantitative Analyst in India: FAQs

  • How much does a bank quantitative analyst make per month in India?

    A bank quantitative analyst in India earns about 33,591 INR a month before tax, based on an annual average of 403,100 INR.

  • What's the salary range for a bank quantitative analyst in India?

    Entry-level bank quantitative analysts in India start near 190,500 INR. Top-end pay reaches around 639,100 INR. The middle 50% of earners sit between 277,400 and 563,300 INR.

  • Is the median bank quantitative analyst salary in India higher or lower than the average?

    The median is 426,700 INR, higher than the average of 403,100 INR. Half of bank quantitative analysts in India earn below the median, half earn above it.

  • What's the gender pay gap for bank quantitative analysts in India?

    Men working as a bank quantitative analyst in India earn around 14% more than women on average (433,400 vs 378,800 INR a year).

  • Do bank quantitative analysts in India get bonuses?

    About 83% of bank quantitative analysts in India reported a bonus in the past 12 months. Reported bonuses ranged from 5% to 9% of base salary.

  • Do bank quantitative analysts earn more in the public or private sector in India?

    In India, the public sector pays a bank quantitative analyst about 6% more on average. Public-sector pay tends to be steadier; private-sector pay tends to offer bigger upside.

  • How often do bank quantitative analysts in India get a pay raise?

    A bank quantitative analyst in India sees a raise of around 13% every 15 months, equivalent to roughly 10% a year.