What's the difference between CFA and FRM?

A.CFA application conditions:

1. Bachelor degree or above with equivalent professional level, regardless of major; University years of study and full-time work experience total four years; College students can register for exams as early as 12 months before graduation.

2. If the applicant does not have a bachelor's degree, but has a considerable professional level, he can also be admitted as a candidate. CFA will use work experience to evaluate the applicant's professional level. Generally speaking, four years of work experience is considered as a substitute for a bachelor's degree. These four years of work experience is not necessarily related to investment, as long as it is legal, full-time and professional.

B.FRM application conditions:

College students can also apply without academic qualifications and industry restrictions.

C, CFA and FRM costs

The financial expenses of CFA and FRM are similar.

CFA*** is divided into three levels, and the fastest time for all of them to pass is 1.5 years.

FRM*** is divided into two levels, and the clearance time is similar to CFA.

Although CFA certificate requires 4 years of relevant work experience, while FRM certificate only requires 2 years of relevant experience, isn't it better to have more experience accumulated before and after the exam? ?

The financial circle looks at ability, qualifications and education. If you want to get high salary, you have to pay more!

Second, the examination content

FRM and CFA overlap in some examination contents, such as securities, bonds, derivatives and quantity, but the emphasis is different. FRM pays attention to risk management, while CFA pays more attention to investment.

CFA's examination subjects include: ethics and professional standards, quantitative analysis, economics, financial statement analysis, corporate finance, portfolio management, equity investment analysis, fixed income securities analysis, derivative instrument analysis and application, and other investment analysis. (There is no difference between level 1 and level 2)

FRM exam subjects are: risk management foundation, valuation and risk modeling, financial market and financial products, quantitative analysis, market risk management and measurement, operational and comprehensive risk management, frontier topics of financial market, investment risk management and credit risk management and measurement. There is no difference between grade one and grade two.

Obviously, FRM focuses on risk management, and other aspects are also involved. CFA is several times as knowledgeable as FRM, and pays attention to a comprehensive and systematic understanding of financial knowledge. For an analyst who comes to the financial circle, these are all necessary knowledge.

Third, employment prospects.

People often ask which is more helpful to employment, CFA or FRM?

On the platform of worry-free future, enter "CFA" in job hunting, and 133 pages and 6650 data will appear, as shown below.

Enter FRM, *** 17 page and 803 data, as shown in the following figure.

Compared with the two, although CFA is more popular in employment, it mainly depends on your future career bias. If you invest, CFA is definitely more suitable. If you do risk control, it is certainly FRM.

Because professional things should be done by professional people.

In addition, if CFA is mentioned in the job description of Wall Street, it is usually said: "You will get extra points for participating in CFA projects." In other words, even if you don't finish the exam, it's a plus item, which shows how much CFA participants attach importance to it.

Besides adding flowers to your resume, CFA and FRM have different ways to help the job itself.

In these years, we will interview some CFA/FRM students or CFA/FRM holders to learn about their study and work, and to know to what extent what they have learned can be applied to practice.

The results show that many interviewees believe that the knowledge they have learned in CFA/FRM is extensive, and many of them are related to practical work and helpful to work. Even if it can't be applied to work, it also strengthens the understanding of some areas of finance.

A fund manager with CFA and FRM certificates said: "I have participated in CFA and FRM certificates at the same time. Each certificate has a different focus, but the examination content helps to establish a knowledge system in various fields and deepen my understanding of finance." .

Four. Career direction and salary of CFAer and FRMer

1 career direction. FRM

FRM, financial risk manager, as its name implies, is more suitable for the development of risk control positions in financial institutions. The main suitable career development directions are: asset management post, fund manager, investment bank manager, financial trader, risk control manager or director, senior audit manager, credit risk analyst, etc. The average annual salary in China is 350,000, which is higher abroad.

2.CFA's career direction

CFA, as the first certificate in the financial field, is more difficult to test than FRM, and its recognition is much higher than FRM, which determines its broader employment prospects. The main suitable career development directions are: fund manager, securities analyst, CFO, investment consultant, investment bank manager, wealth management manager, risk manager, investor relations manager, trader and so on. The average annual salary in China is $654.38 +0.49 million, and the global average is $654.38 +0.78 million.

Verb (short for verb) conclusion?

Generally speaking, whether CFA or FRM, for students who want to engage in finance, of course, the more the better.

As far as I know, many students have taken the "CFA+FRM" double exam, and I am very convinced of this domineering. I hope they come on!

Besides, nothing is absolute.

We should also realize that the certificate is only a plus item for our career development, and personal ability and experience are also very important. Without the latter, no matter how many certificates there are, they are just a piece of waste paper.

The certificate has opened the door for us to rise, but in the future, we still have to go on our own.