I have seen lot of jobs descriptiob requiring FRM … but I have not came across one asking for PRM … here is the catch … On the PRM website members work in almost same banks and Institutions where FRM members are working… I think I will give it a little more time
PRM comes across as a lot less risky. Can retake and take the test at any time.
found a good post of PRM VS FRM … worth a read http://www. tomcfa. com/cfa/test-discussion/general-talk/2006-11-10/21246. html take the spaces out when inserting address into to browser
another good article on FRM VS PRM http://www.fenews.com/fen34/one_time_articles/garp_and_prmia/garp_prmia.html
Some of these articles are really old. Like the one from the previous post…2003…
yup these are old but provide a good background information about GARP … After reading these … and doing news search (archive and current) on google … I have taken my final decision to pursue PRM … as it will be worth a lot more in the future … and I got a say in the decision making in PRMIA decision making as PRM is owned by its sustaining members… GARP had a stained history of being irresponsible to its members… and how I can be sure they will not do it again … as someone said on AF that its just the schweser fuss about FRM … and also it is in business for a longer time … what kind of reputation a professional body can get by changing its status for non-profit to profit and then non-profit… as it has been kicked in the balls by people volunteering … if they are not sure about their identity what good they can think about the members…
madanalyst Wrote: ------------------------------------------------------- > yup these are old but provide a good background > information about GARP … After reading these … > and doing news search (archive and current) on > google … I have taken my final decision to > pursue PRM … as it will be worth a lot more in > the future … and I got a say in the decision > making in PRMIA decision making as PRM is owned by > its sustaining members… GARP had a stained > history of being irresponsible to its members… > and how I can be sure they will not do it again > … as someone said on AF that its just the > schweser fuss about FRM … and also it is in > business for a longer time … what kind of > reputation a professional body can get by changing > its status for non-profit to profit and then > non-profit… as it has been kicked in the balls > by people volunteering … > > if they are not sure about their identity what > good they can think about the members… Good point madanalyst. But are you planning to take all four exams. If I am correct, you took Level 1 this June right? Would you wait to complete your CFA and get exemptions for the two exams?
About a year ago I did a headcount of FRM vs. PRM members 2007. FRM has ~68,000 members compared to ~46,000 for the PRM. (2007)
oldmonk … we are in the same boat of putting a certification next to my name on visiting card… for now I am thinking about exam 1 and 2 as soon as possible (3 to 4 months) and next 2 exams probably in dec… but I do not want to wait for 2 more years to get my charter and then claim exemption… and also I am not sure that I will able to complete cfa in fastest time possible … right now for me … benefits of appearing in all 4 exams and get PRM designation > claiming exemptions after charter … what about you?
sternwolf Wrote: ------------------------------------------------------- > About a year ago I did a headcount of FRM vs. PRM > members 2007. > > FRM has ~68,000 members compared to ~46,000 for > the PRM. (2007) as of now members FRM ~76,000 and PRM ~51,000 member growth rate have been almost the same for FRM and PRM – but PRM has really done a good job in attracting candidates and giving a tough competition to FRM in risk management certification… also I think FRM is a CFA copycat … same content on the website as CFA… same features… same exam style … 2 sessions … and what not … open the CFA and GARP websites side by side and you will realize the similarities…
madanalyst Wrote: ------------------------------------------------------- > oldmonk … we are in the same boat of putting a > certification next to my name on visiting card… > for now I am thinking about exam 1 and 2 as soon > as possible (3 to 4 months) and next 2 exams > probably in dec… but I do not want to wait for 2 > more years to get my charter and then claim > exemption… and also I am not sure that I will > able to complete cfa in fastest time possible … > right now for me … benefits of appearing in all > 4 exams and get PRM designation > claiming > exemptions after charter … what about you? Madanalyst - I am leaning towards FRM. I have flipped thru both the handbooks (a guy at work has them) and FRM material covers a far more breadth of topics. PRM material is more specific to quantitative techniques in risk management. I feel that the PRM material can be learned quickly if one working in a quant style/capital markets role whereas FRM material seems to expose you to a lot more stuff and then leaves you to get more into the areas that interest you. Also a lot of guys favoring PRM on the boards etc. are from actuarial backgrounds as well and are in quant roles so PRM is definitely better for them. FRM membership seems a lot more diverse. I think FRM is certainly better when one is at early stages in the career, wants to add value to the business card and might be switching roles as he/she progresses. Plus if PRM remains free membership I can always take two exams after my CFA and get that under the belt at very little cost.
rohufish Wrote: ------------------------------------------------------- > i’ve studied both curriculums - just chose not to > take the FRM exam because i got what i wanted out > of PRM - no need for a 2nd cert. > > PRM curriculum is much better. the PRM handbook is > amazingly well written (if you give it respect and > read it 2-3 times until you understand > everything). they embed links for spreasheets you > can use, i felt i could build my own risk mgmt > system after completing the course. can’t say same > for FRM - left me feeling like an employee of some > sort who would need a boss to use the skills. PRM > felt like training for entrepreneurship. > unconventional way of looking at it, but really, > thats how practical it was. > > study both, like i did, and flip a coin about > which test to take. Is the handbook (the whole set i guess) enough to study for the exams?? Would I need anything else other than these 5 books for all the 4 exams?? Thanks
^^ anybody who knows may answer. Thanks
I chose FRM, finally. Reason is that it is more recognized than PRM. Instead of explaining to everybody what is PRM, FRM is a better option. But it is far more risky as well, I think. Moreover, I am just feeling that people look more inclined to PRM on this forum. Is the flexibilty of prm schedule the most important reason for it? perhaps, because most of us are doing job+cfa+(frm/prm). for me i feel… value> flexibility
bump. prm seems to make more sense to the cfa charterholder as it goes into depth and is a form of specialization whereas the frm seems to be another mile-wide inch deep designation like the cfa. i declare prm the winner from the above discussion. the prm would be interesting to get just for the material, seeing as we get to skip half of the exams anyway.
The jobs I have seen almost always say PRM or FRM. Looks like the industry asigns equal value to both.
Here’s another argument against the PRM: Any exam that you can take as many times as you like until you pass is not worth discussing. There should be a flip side to failing a test and not just the peanuts they charge.