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Cfa vs frm

brandon (B.Com) (24 Points)

16 March 2015  

Maybe CFA, maybe FRM or both? This is one of the most freqently asked questions when students make up their mind to advance their careers in Finance. Making the right choice is important because each of the examination takes lot of hard work, money and ofcourse lot of time. The choice, however, is sometimes difficult for those who are not aware of its key differences.I was fortunate to pass both the CFA and FRM exams and was lucky to go through the course details, benefits and nuances of both the examinations. In the past, I have mentored hundreds of students for CFA and FRM examination and through this blog, i thought of preparing a quick guide on CFA vs FRM that will help students make an informed choice.


 1 Replies

Arpit Shah (Accountant) (21408 Points)
Replied 16 March 2015

CFA vs FRM

 

If you had to choose between the two – CFA or FRM, which one will you take?

Maybe CFA, maybe FRM or both? This is one of the most freqently asked questions when students make up their mind to advance their careers in Finance. Making the right choice is important because each of the examination takes lot of hard work, money and ofcourse lot of time. The choice, however, is sometimes difficult for those who are not aware of its key differences.

I was fortunate to pass both the CFA and FRM exams and was lucky to go through the course details, benefits and nuances of both the examinations. In the past, I have mentored hundreds of students for CFA and FRM examination and through this blog, i thought of preparing a quick guide on CFA vs FRM that will help students make an informed choice.

To show you the key differences between CFA and FRM, i have created an infographics that will help you make an informed choice. 

Reading Time: 90 seconds

CFA vs FRM

Pro Tip : CFA vs FRM

    • Broad vs Focussed - The key difference is that CFA curriculum covers broad range of topics in Finance. However, FRM is a specialized exam for gaining expertise in Risk Management.
    • Job Opportunities – CFA is especially useful for those who want to make a career in Investment Banking, Portfolio Management or Financial Research. FRM opens up careers in Risk Management in Banks, Treasury Department or Risk Assesments.
    • Passing Rates - Do not worry too much about the passing rates. Both the exams CFA and FRM have a reasonable range of passing rates (30-50%).
    • Competition - CFA exam has no direct competition from other providers. If you want to really make a career in Invesmtent Banking or Portfolio Management, then the choice of CFA is a no brainer. FRM examination has a direct competition from PRM (Professional Risk Manager). If you want to make a career in Risk management, then you are spoilt for choices as you may want to choose between the two exams – FRM or PRM. My take is that FRM is rather popular examination between the two and for a newbie, it makes sense to appear for FRM exam first.
    • Examination Tips - CFA is slightly easier for students who have an accounting background. CFA curriculum relies heavily on Accounting Fundamentals. FRM examination on the other hand is slightly easier for those who have a quantative background as majority of foundation level topics are maths based.
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