What is Financial Risk Management (FRM)? Course Details, Fees, Duration, and Scope
As the field of finance evolves at a fast pace, so do careers in finance. One such profession that’s gaining popularity among the others is Financial Risk Management. After the pandemic, it became essential for several companies to risk-proof their financial management. To do that it is necessary to have an in-house expert who can analyze all the financial statements of the company and understand the impending risk factors that can be eliminated. FRM is a niche profession to be in and brings exciting challenges for those who possess an interest in this field. Every MNC, fast-growing startup and HNI is now sensing the need to hire a Financial Risk Manager.
If you are interested in taking up this course, then here’s everything you need to know about this course.
FRM Course Details
| Differentiators | FRM |
| Organizing Body | GARP: Global Association of Risk Professionals |
| Course Duration | 1 to 2 years |
| Difficulty Level (passing percentage) | 45% for Part I and 63% for Part II |
| Eligibility Criteria | An undergraduate in the final year of their degree can also apply for the FRM course. However, you need to clear your part 1 to appear for the part two examinations. Within the 5 years of your learning journey, you must also have 2 years of relevant work experience. |
| Career Scope | Job profiles you can explore
Risk Analyst Risk Manager Credit Risk Analyst Market Risk Analyst Regulatory Risk Analyst |
| Top Hiring Firms | PwC
ICBC JP Morgan Chase Consulting Firms Hedge Funds |
FRM Course Fees
Now that you know the basic details about this course, it is time to who about the courses available and the fees payable to the organizing body. Additionally, Financial Risk Management is a niche course that may not easy to clear if you’re planning on self-studying then you might also want to get a fair idea on the coaching fees. Shared below is everything you need to know about about the FRM fee structure.
FRM Fees for New Candidates
Enrollment Fee: USD 400
Exam Fee: USD 800
Total: USD 1200
FRM fees for Returning Candidates
Exam Fee: USD 800
Payment procedure as mentioned on the official GARP website.
Candidates can pay for their exam registration via the following options:
Credit card online: GARP accepts MasterCard, Visa, or Amex
Check: Must be a US bank check or a foreign check with a US intermediate bank wire
Wire: Wire instructions can be found on the bottom of your invoice
For any manual payments by check or wire there is a USD 50 processing fee that will be added to your invoice. Be sure to include your GARP ID, a copy of your invoice, and your signature for approval.
FRM Average Coaching Fee
The average coaching fee for FRM online and offline classes are as followsÂ
Online Coaching: Starting from INR 9000
Classroom Coaching: Starting from INR 30,000
FRM Career Scope
Financial Risk Management is a global certification that’s accepted in the US, UK, Singapore and China, and other Asian countries. But since this course is fairly niche, your scope will be to analysis and management. Here are some of the job profiles you can explore on completion of this course.
- Risk Analyst
- Risk Manager
- Credit Risk Analyst
- Market Risk Analyst
- Regulatory Risk Analyst
FRM Salary in India
After completing your FRM course here are some of the job role you can go for and expected salaries
We hope that with this article on Financial Risk Management, you’ve got everything you needed to know about the FRM qualification. While FRM is a well-paying field, it has its limitation. If you wish to enter the field of finance with a broader scope CFA (Chartered Financial Analyst) is the right course for you. To become a qualified CFA you can start your journey right after graduation.
The Chartered Financial Analyst is a globally recognized qualification in the field of finance and investment. If you have recently completed your graduation or are appearing for your final semester, you may be eligible to become a CFA. Interested? We highly recommend checking out our Chartered Financial Analyst (CFA) course.
FAQ
Who is eligible for the FRM course?
An undergraduate in the final year of their degree can also apply for the FRM course. However, you need to clear your part 1 to appear for the part two examinations. Within the 5 years of your learning journey, you must also have 2 years of relevant work experience.
What is the salary of FRM?
The salary of an FRM starts from 3 lpa in India and exceed to around 20 lpa depending on the experience and skillset that one gains on the job.
What is the course duration of FRM?
The Financial Risk Management Course can be completed in 1 to 2 years.
What does an FRM do?
Financial Risk Management course equips you with risk management techniques. FRM is a rather specific course that enables you to analyze the pricing risks and infuse them in all financial decisions made by your firm.
