Sorry if this link is old, just wanted to share http://www.bionicturtle.com/learn/article/cfa_versus_frm_part_1_job_markets/ Here’s a blurb about MBA vs CFA as well: In many cases, the CFA has more perceived value that an average Finance MBA (unless the Finance MBA is earned from a globally prestigious school). I sort of view the CFA as the today’s Finance MBA. The Finance MBA, in my opinion, has suffered gradual commoditization over the years and is sort of stuck in the middle between two dynamic markets. One, true mathematicians with PhDs or Master’s in Financial Engineering are wanted for the Quant jobs. Two, the supply for generalists now includes many streams of qualified, non-MBA candidates (e.g., economists, experienced workers; and my pick for tomorrow’s hot job, anthropologist). And firms are more eager to directly recruit exceptionally talented undergraduates, some of whom amass credentials like the CFA seemingly before they’ve worked much. Nowadays, an average Finance MBA plays a merely supporting role in a candidate’s overall presentation. But the CFA still has glossy sex appeal. On the hiring side, the CFA enjoys a prestige that was, years ago, attached to the Finance MBA. Pretty much everybody knows what the CFA is, and they respect what it signifies about your education.
Let’s face it, neither designation is going to get you any @ss. In the case of the FRM, it might even serve as a deterrent if you get labeled as a nerdy quant geek with a smelly crotch.
Funny (true) post and totally agree with JTLM. Since I started to study for the CFA, I get less @ss and I also live in NYC. But I am not doing to get girls, that would be a terrible pick up line/conversation. If you have FRM you might also have a bad breath (spicy food maybe).
So far: People with FRMS have: smelly crotch bad breath They also have dandruff
Has anyone gotten a job thru the FRM? I’m not wising off. I’m just curious.
I have a friend who has CFA and FRM. He told me it was his FRM that got him his current job, he trades energy derivatives
+1 hey good read storko.
Agree. FRM is valued in energy sector. Everyone in my group has one. I will be giving this year. storko Wrote: ------------------------------------------------------- > I have a friend who has CFA and FRM. > He told me it was his FRM that got him his current > job, he trades energy derivatives
razedge Wrote: ------------------------------------------------------- > Agree. FRM is valued in energy sector. > May I ask why?
FRM is still one exam this year. One of the guys on my team has CFA FRM CAIA. He reckons he needed 5 days to pass the FRM last year. He had already completed the other 2.
Muddahudda Wrote: ------------------------------------------------------- > FRM is still one exam this year. One of the guys > on my team has CFA FRM CAIA. He reckons he needed > 5 days to pass the FRM last year. He had already > completed the other 2. I believe he told you joke.
Why? It is VaR and option strategies. Most of it plug and play no? I got confirming evidence that it is fairly straightforward from 2 other peeps who did it. They said it wasnt too difficult.
I am going through the material right now, schweser, and doesnt not seem very difficult at all. I do already have CFA and CAIA, so a lot of overlap.
ozzie123 Wrote: ------------------------------------------------------- > razedge Wrote: > -------------------------------------------------- > ----- > > Agree. FRM is valued in energy sector. > > > > May I ask why? FRM has a chunk of material related to " at risk" measures and “stress testing” which are imp for energy derivatives, even the “credit risk” part plays an important role. I come across a bunch of energy derivatives traded regularly and modelling them can be intimidating at times. From what I have seen, I think FRM can easily guarantee a raise in this industry.
^ thanks for the answer razedge.
You can goto the GARP Career Center Section and look at the jobs that consider FRM as a credential. Most are on the heavier quant side. Heres a link: http://careers.garp.com/search/browse/
Muddahudda Wrote: ------------------------------------------------------- > Why? It is VaR and option strategies. Most of it > plug and play no? I got confirming evidence that > it is fairly straightforward from 2 other peeps > who did it. They said it wasnt too difficult. There is some overlap but not to that extent. You still have to learn a lot about operational risk, banking regulations, calculating default probabilities for bonds, pricing swaps with given counter-party risk, and many others … I would say about 1-2 month if you just finished your CFA. Regarding the energy discussion, GARP just created a new designation for energy professionals, I believe it is called ERM ( Energy Risk Manager).
Muddahudda Wrote: ------------------------------------------------------- > Why? It is VaR and option strategies. Most of it > plug and play no? I got confirming evidence that > it is fairly straightforward from 2 other peeps > who did it. They said it wasnt too difficult. I am also CAIA, FRM and CFA level 2. Prepartion for FRM requires much more than 5 days, really it is like 60%-75% of CFA level 2 or 2xCFA level 1.
I took a quick look at website and I’m a little confused. Is the entire exam given in one day, or are there 2 levels? Regarding the experience: The requirements stated that the work needed to be something related to risk management, portfolio management or trading. However, under the list of representative tiles, it financial analyst is included for AM shops. Would a pure investment analyst position qualify for the frm?
nov 09 is the last time when FRM is one level exam. It is one day 2.5 hours + 2.5 hours.