It seems like the common “joke” after the CFA among candidates… now that CFA is over, we are bored, so maybe FRM or CAIA next? I personally think it’s redundant to have all 3 - people might even think you are too nerdy and collecting designations is all you can do… Also, it doesn’t seem like FRM for example is as rigorous. They require a 2 year work experience minimum apart from passing the exam, but I know of people who don’t have the 2 years work experience requirement but still get approved for the designation - so seems like FRM isn’t as strict?
How can they get approved without the experience though? Luckily I’ve done it last year, simply because it was gonna be changed to 2 levels, and I don’t want to sit for 2 levels in the future if I choose to take it sometime later, so better get it over with.
No more falling into these 3 letter abbreviations traps. Everything is a scam. Fcuk em’ all
FRM is for risk management. Goes much deeper into monte carlo, enterprise risk management, basel capital requirements etc. includes case studies too. I am glad that I did this. it’s not easy, so don’t underestimate it. the passing rate is about the same as the CFA. by the way… greg filbeck is the schweser FRM instructor, just can’t get enough of “annnnnnd welcome back!”
LaGrandeFinale Wrote: ------------------------------------------------------- > No more falling into these 3 letter abbreviations > traps. Everything is a scam. Fcuk em’ all +1
lindalibinbin Wrote: ------------------------------------------------------- > How can they get approved without the experience > though? > > Luckily I’ve done it last year, simply because it > was gonna be changed to 2 levels, and I don’t want > to sit for 2 levels in the future if I choose to > take it sometime later, so better get it over > with. I am not sure. I guess they assume that everyone who submits their resumes know that they have enough experience? Or else people won’t even submit their resumes?
PS it’s not just about having an FRM, just like there’s more to the CFA than just passing all three levels. It’s about being a member of the society. I just went to a very good GARP presentation a few weeks ago, and will be attending one next week.
I passed FRM full after taking level 2, and I must say it is pretty worthless, atleast for now. I’ve gone into a job interview with the risk department of Morgan Stanley and the hiring manager goes, what is the FRM? Some sort of course? If that’s any indication, it is worthless for the most part. If I were bored I would work on something like bolstering my Excel skills to expert level (which I am doing this summer) or work on MBA essays and applications/ GMAT. -Speaking of which anyone have an opinion on retaking the GMAT even after you score 690? cuz I am thinking about it, think I can do better, but all about the cost benefit, would 720/30 be that much different from 690.
LaGrandeFinale Wrote: ------------------------------------------------------- > No more falling into these 3 letter abbreviations > traps. Everything is a scam. Fcuk em’ all CAIA
hazyskunk, i also interviewed with MS and had a different experience. well to each his own. For me it’s another opportunity to connect and network. in fact, the Chief Risk Officer of Morgan Stanley is presenting at the next GARP (sponsor of FRM) meeting June 17 on Careers in Risk Management, so that person you interviewed with must have been clueless.
I’ve registered for the FRM twice, bought all the Schweser stuff twice, and have sat for it zero times. Sweet waste of ~100 hours and a few grand.
the next 3 letters I will get is MBA, if even. Other than that, no mas.
FRM and CAIA are made up certs. Nobody knows and cares about them. CFA, CPA and CFP are more than enough for me as far as the finance is concerned. I just don’t think there is anything more in finance that is so valuable career wise once you get CFA nailed. If I were to ever pursue anymore cert/degree, and I don’t think I ever will (no more falling for three-letter words :), it will be for non-financial related subjects like mgmt, mrkt, law etc.
FRM is only useful if you’re working or want to work in Risk Management. I took it before CFA and have been in risk management since. Personally, I believe its the quickest and easiest way to enter into a financial services career. I switched from IT without having an MBA. CFA is a good add on for me to pursue an investment risk related career. I found FRM to be harder than CFA in terms of understanding the course curriculum (but that was before I stumbled upon Analyst Forum).
The woman that is the chairman of CFA Chicago has CFA, CPA, and CAIA …and she’s not that bad looking I must admit.
CP, how much study is involved in the FRM compared to the CFA? You took the FRM when you could sit it as one module I presume? Can you sit the FRM once or twice yearly? Sorry for the bombardment of questions 
CPierce Wrote: ------------------------------------------------------- > The woman that is the chairman of CFA Chicago has > CFA, CPA, and CAIA > > …and she’s not that bad looking I must admit. you are right. good call
dec1892 Wrote: ------------------------------------------------------- > CP, how much study is involved in the FRM compared > to the CFA? You took the FRM when you could sit it > as one module I presume? > > Can you sit the FRM once or twice yearly? > > Sorry for the bombardment of questions FRM i hear is a piece of cake in comparison.
No way would I call it a piece of cake, overall since you can take it in one go, yes, but the test itself is as hard if not harder than any single level of the CFA.
hazyskunk Wrote: ------------------------------------------------------- > No way would I call it a piece of cake, overall > since you can take it in one go, yes, but the test > itself is as hard if not harder than any single > level of the CFA. ya okay i doubt that. i heard the FRM exam is equivalent to the Level I quant section. but then again thats just what i heard. i hear alot of things…