In ferrite/austenite dissimilar metal welds, carbon can diffuse from the ferritic low-alloy steel to the austenitic weld metal during heat treatment and thermal aging due to the large carbon and chromium content differences between the two alloys. This carbon influx leads to the precipitation of carbides in the high-alloy weld metal, near the fusion boundary, which can affect the properties of the joint. This precipitation was investigated using multiple characterization techniques: electron probe microanalysis, small angle X-ray scattering and atom probe tomography. The studied joint consisted of low-alloy steel and stainless steel base metals that were arc welded using a nickel-based filler metal. Given the heterogeneous microstructure of such joints, a microstructure navigation strategy was implemented to ensure all characterizations were carried out in the same regions of interest and the associated data could later be correlated. The precipitates were found to be mostly M₂₃C₆. The precipitation was quantified using two different methods that gave comparable results, whose differences highlight the capabilities and limitations of each technique. Precipitate fractions are higher following thermal aging but remain far from equilibrium in all cases, indicating that precipitation kinetics should be accounted for to model the microstructural evolution of such dissimilar metal welds more accurately.