What are FRM and CFA respectively? Which one has higher gold content and is more helpful to work?

Hello, class. In addition to these two certificates, there will be other certificates, which are all useful, mainly including:

chartered financial analyst

CFA is short for "Chartered Financial Analyst". Also known as "Chartered Financial Analyst".

Textual research population:

Its examination focuses on the most advanced international financial theory and technology, including investment analysis, portfolio management, financial statement analysis, corporate finance, economics, investment performance evaluation and professional ethics. CFA qualification certificates are awarded to professionals in various investment fields, including fund managers, securities analysts, chief financial officers, investment consultants, investment bankers and traders.

Examination scope:

CFA exam content is divided into three different levels, namely Level 1, Level 2 and Level 3. Examinations are held all over the world, and each candidate must complete three different levels of examinations in turn. CFA qualification examination is conducted in English. Candidates should not only have financial knowledge, but also have good English reading ability. Successfully passing CFA course is an achievement, which can win the high respect of employers, investors and the whole investment community. With the increasing number of CFA exam references, since 2003, the Investment Management and Research Association has increased the first-level exam from once a year to twice a year. In addition to being held in the global 160 test center in May/June, it will be held again in 23 regions where candidates are relatively concentrated, including Singapore and Hong Kong. Therefore, from 2003, the first-level candidates will have two opportunities to take the exam. Chinese mainland has set up examination rooms in Beijing, Shanghai, Guangzhou and Hong Kong in June, and Beijing, Shanghai and Hong Kong in June and February.

China candidates generally feel that the exam is very difficult and expensive, and it costs at least 20,000-30,000 RMB to complete all the exams. The contents of the examination are: ① moral and professional standards; ② Financial accounting; ③ Quantitative techniques; 4 economics; ⑤ Analysis of fixed income securities; ⑥ Analysis of equity securities; ⑦ portfolio investment management.

Certificate prospect:

The world-renowned institutions that employ the most CFA staff include Merrill Lynch, Goldman Sachs, Morgan, Citigroup and PricewaterhouseCoopers. There is an urgent need for high-end financial talents: many companies clearly put forward that people with work experience and professional certificates (CPA, CFA, FRM) are preferred, especially foreign-funded institutions.

According to incomplete statistics, China will need150,000 professionals in the financial field every year in the next decade. At present, the employment prospects in China are very broad. The salary is between 500- 1 10,000.

People who work in the financial circle are generally masters of famous universities at home and abroad, and have been living in flowers and applause. CFA conducted a survey, and many people who work hard in the financial circle are CFA (Chartered Financial Analyst) holders. Even if their ancestors have not accumulated three generations of wealth, they can live a rich and handsome elite life by virtue of their own strength.

CFA international recognition: high, global investment field pass.

CFA's domestic recognition: high, it is the "trump card" certification in the high-end financial field.

With the continuous development of China's capital market and the increasingly hot trend of internet finance, the already hot financial certificate has been sought after by many job seekers. At present, financial enterprises are very interested in whether candidates hold CFA qualifications when recruiting. It can be seen that the employers of financial enterprises have extraordinary recognition of CFA. Ultra-high recognition and unusually hot, the trend has raised the salary of CFA holders.

The survey of investment industry salary shows that employers are willing to offer high bonuses to investment professionals with CFA franchise qualifications. Among those with 65,438+00 years of work experience, those with CFA certification earn 24% more than those without CFA certification (the median is between $248,000 and $200,000). If you don't consider work experience, the difference in salary status is even greater. People with CFA certification earn 54% more than those without CFA certification (between $65,438 +0.8 million and $65,438+0.65,438 +0.685 million).

The data shows that the annual income of CFA holders in Singapore is about 1 13000 USD, that in Canada is about 108000 USD, and the global average salary is 178000 USD. In the United States, CFA holders are about 60 thousand yuan higher than Harvard MBA.

American CFA holder

Basic salary: $65,438+$094,000

Basic salary plus bonus: $304,000

/kloc-basic salary plus bonus for more than 0/0 years: USD 392,000.

British CFA holder

Basic salary: $65,438+$079,000

Basic salary plus bonus: $320,000

Work/kloc-basic salary plus bonus for more than 0/0 years: 412,000 USD.

Hong kong CFA holder

Basic salary: $65,438+$094,000

Basic salary plus bonus: $304,000

/kloc-basic salary plus bonus for more than 0/0 years: USD 392,000.

Chartered certified public accountant

ACCA—— Association of Chartered Certified Accountants (ACCA), founded in 1904, is the leading professional accountant group in the world at present, and it is also the professional accountant organization with the largest number of overseas students and the fastest growth in student scale.

Qualifications:

To apply for the ACCA exam, you must first register as an ACCA student, and the registration must meet any of the following conditions:

(1) Anyone with a college degree or above recognized by the Ministry of Education can sign up as an ACCA official student;

(2) Students from institutions of higher learning recognized by the Ministry of Education can sign up to become formal students of ACCA after successfully completing all the course examinations for freshmen;

(3) Applicants who do not meet the qualification requirements of 1 2 can apply to take the FIA qualification examination first. After passing FFA, FMA and FAB courses, you can apply to transfer to ACCA without taking F 1-F3 courses, and directly enter the examination of ACCA skills courses;

Examination content:

ACCA has developed a detailed syllabus, special teaching materials and supporting learning materials, and * * * owns 14 examination course, which is formulated by accounting and financial experts in British universities, with unified teaching materials, unified examinations, unified marking and unified grading standards. You can take the exam every March, June, September and 65438+February.

ACCA*** has 16 courses, and you can get the ACCA associate membership card by passing 14 (the last four subjects P4-P7 are two out of four). This 16 course * * is divided into two parts: basic stage course and professional stage course, and also divided into four modules: knowledge module (F 1-F3), skill module (F4-F9), core module (P 1-P3) and elective module (P4-P7).

The first part is the basic stage, which is mainly divided into two parts: knowledge course and skill course. The knowledge course mainly involves the core knowledge of financial accounting and management accounting, and also builds a platform for detailed study in the skill stage. Skills course * * * There are six courses in total, covering a wide range of knowledge and skills that an accountant must master. Specific courses are:

1. Basic knowledge of knowledge course

F 1 enterprise accounting (AB)

F2 Management Accounting Management Accounting (Master)

F3 financial accounting financial accounting

2. Skills Curriculum Foundation-Skills

F4 Company Law and Commercial Law Company and Commercial Law

F5 Performance Management Performance Management (PM)

F6 Taxes Taxes (Texas)

F7 financial report financial report

F8 Audit & Assurance Company

F9 Financial Management Financial Management (FM)

The second part is the professional stage, which is mainly divided into core courses and elective courses. This stage of the course is equivalent to the difficulty of the master's stage, which is the extension and development of the first part of the course. At this stage, the course introduces more advanced professional skills and necessary knowledge and skills for future senior accountants. Elective courses are designed to solve more advanced and complicated problems for students engaged in senior management consulting or consulting careers. Specific courses are:

3. Professional foundation, the core course of occupation

P 1 corporate governance, risk and professional ethics, risk and. Morality (GRE)

P2 Company Report

P3 Business Analysis

4. Major-Option (four optional two courses)

P4 Senior Financial Management Senior Financial Management

P5 Advanced Performance Management Advanced Performance Management (APM)

P6 Advanced Tax Management System (ATX)

P7 Advanced Audit and Assurance (AAA) is used for advanced audit and certification.

Certificate prospect:

According to the ACCA survey in 2008, the annual salary of members is mainly between 654.38+ 10,000-800,000, which is much higher than the income of financial personnel in the general market. Among ACCA members aged 26-30, the main salary range is 654.38+10,000 -300,000, and the starting salary is above 50,000; 3 1-40 years old ACCA members' salary ranges from 200,000 to 500,000. According to the mid-year salary report of Worry-Free Future Index in 2004, the average monthly salary of financial personnel is between 1500 yuan-2,999 yuan (that is, the annual salary is between18,000 yuan and 36,000 yuan). According to the results of the eighth salary survey in ChinaHR.com, the starting salary of the high-paid class in Shanghai is 6.5438+200,000 yuan per year. The data of ChinaHR.com also shows that the income of ACCA members exceeds the average annual income of graduate students (48,000 yuan) and MBA graduates (60,000 yuan).

According to the data, 65% ACCA members hold middle and senior positions in enterprises, such as CPA partners, financial managers, chief financial officers and general managers of multinational companies. Financial executives account for 22% of all respondents, with annual salary ranging from 250,000 to 6,543.8+0,000, and middle-level financial managers with annual salary ranging from 6,543.8+0,000 to 400,000.

Judging from the distribution of annual salary, ACCA members have obvious income advantages in all income ranges above 300,000, accounting for a much higher proportion than associate members and students. The proportion of ACCA members' income between 500,000-654.38+0,000 is as high as 265.438+0%. The highest annual salary of the interviewed members exceeds 2 million.

90% of the respondents expect that the annual salary will continue to rise in the future. In 2008, the annual salary of respondents showed an overall growth trend, with 58% of respondents' annual salary increasing by more than 10% and 20% of respondents' annual salary increasing by more than 30%. Among them, the annual salary of 42% ACCA associate members has increased by more than 30%.

Certified public accountant

CPA(CertifiedPublic Accountant) is the abbreviation of Certified Public Accountant. Refers to the employees who have obtained the certificate of certified public accountant according to law and are entrusted to engage in auditing, accounting consulting and accounting services.

Application conditions:

China citizens with college education or above, or with intermediate or above technical titles in accounting and related majors, may apply for taking the national unified examination for certified public accountants; Persons with senior technical titles in accounting or related majors may be exempted from some subjects. Persons who have passed the national unified examination for certified public accountants and have been engaged in auditing for more than two years may apply for registration with the Institute of Certified Public Accountants of provinces, autonomous regions and municipalities directly under the Central Government.

Examination content:

Since 2009, the CPA examination has been reformed. The CPA examination under the new system is divided into two stages.

The first stage is the professional stage, which requires passing six exams for five consecutive years.

The second stage is the comprehensive stage: it is required to pass the comprehensive vocational ability test within five consecutive years. Only by passing the two-stage exam can you get a general certificate. It can be seen that the requirements for certified public accountants are getting higher and higher now.

Certificate prospect:

At present, the CPA qualification examination is the most difficult among all kinds of qualification examinations in China. Fortunately, you can pass the exam in five years. So now the gold content of certified public accountants is very high. Many large and medium-sized enterprises have positions such as chief accountant, financial manager, finance minister, chief financial officer, chief accountant, etc. These positions all need to hold a certified public accountant certificate. The salary of a certified public accountant starts at 5000-8000 yuan per month in economically underdeveloped areas, and is around 10000-20000 yuan in economically developed areas. If you set up an accounting firm in partnership, you will earn 1 million yuan a year. The prospect is bright, and so is the "money" scene!

FRM (financial risk manager)

Financial Risk Manager (FRM). It is a professional qualification of international professional risk managers. Certification and examination of Global Risk Management Association (GARP).

Three thresholds:

Threshold 1: The examination is difficult: the examination subjects are comprehensive, covering market risk, credit risk, operational risk, corporate governance and other fields, involving modern management, finance, economics, quantitative statistics and other disciplines, and the knowledge structure is complex. Therefore, candidates need to undergo strict professional training, otherwise it will be difficult to understand the complex quantitative relationship and the risk nature of business and products.

Threshold 2: The examination cost is high: the knowledge is wide, the reading volume of teaching materials and review materials is about 654.38+00000 pages, and candidates spend a lot of time on review.

Threshold 3: it is not easy to obtain qualification: the application conditions for FRM certification examination are relatively loose, and there are no restrictions on candidates' academic qualifications and industries. College students can also apply. However, if you want to get the professional qualification certificate issued by GARP, you must pass many obstacles. First of all, you must pass the difficult FRM exam; Then have more than 2 years working experience in the field of financial risk or other related fields before you are eligible to apply to become a GARP member; In addition, it is necessary to sign a professional ethics convention with GARP in order to really get started and become a professional financial risk manager.

Certificate prospect:

RM member, the national average annual salary is 230,000. Career development: the positions mainly involved are risk management department of financial institutions, audit department of financial institutions, asset management department, fund manager, financial trader (broker), investment banker, commercial bank, risk technology industry, risk consultant, accounting and auditing department of enterprises, CFO, MIS and CIO of enterprises.

The salary level of financial risk managers is more than enough. At the same level, the average salary level is not comparable to that of business departments, but IT should be higher than that of back-end departments such as IT and finance. The salary levels offered by different companies also vary greatly. For example, joint venture brokers can offer double salaries to the same person and the same position, compared with domestic securities companies.

The treatment of each bank is different. Due to the increasing degree of marketization, there is more and more room for bargaining with enterprises according to their own capabilities. It seems that the salary of risk management posts in fund companies is lower than that in securities companies. In the case of private equity firms, the difference is even greater.

Although the wages are high and low, they are all reasonable. Usually, business departments have performance pressure. If they do well, they will certainly get a high salary. If they don't do well, not only will their wages be low (which may be lower than risk management), but they will also affect their work development. Risk management usually has no performance pressure. The year-end bonus varies from company to company, and there is a fixed bonus, such as six months' salary. Some also follow the overall performance of the company.

In addition, some companies offer high salaries for a reason, such as joint venture brokers, whose business is relatively simple and there is little room for career development. In order to attract talents, they deliberately offered high salaries. Banks usually have better benefits, but the basic salary is weak. Another important factor is ranking, which is also a financial risk manager. When the rank goes up, the salary will naturally go up, and it is not surprising that the difference is 5 or 6 times.

In addition, the gold content of the certificate is high or low, which is linked to the work. For example:

Venture capital department

Suitable for people with calm personality, because they need to assess risks, so they are required to do things carefully. It is necessary to have a foundation in finance and a systematic study and understanding of risk management. It is best to get FRM during school.

research institute

Suitable for being good at writing, not afraid of writing reports, having a spirit of research, having a foundation in accounting and economics, and being good at expressing and communicating with people. Generally speaking, a suitable academic background for an industry researcher is a postgraduate background in economics or finance, which has a certain foundation for engaging in a certain industry research, and former classmates and teachers are also future resources. Of course, students majoring in finance and economics also have their own uses, such as macro-strategy, finance and real estate.

It is best to have accumulated professional knowledge in related industries, have a certain foundation in finance, finance and accounting, have CFA and CPA qualifications or pass CFA II and CPA.

Direct investment department

Direct investment is best to have certain industry experience and social experience, and it is not easy to be fooled. If you are a fresh graduate, you need to accumulate experience and ability as soon as possible, be bold and cautious, and be suitable for students with flexible minds and broad ideas. Need to be familiar with financial statements, you can accumulate financial knowledge such as accounting and finance in school, get securities qualification in advance, and you can take CFA during school.

The fixed income department has a large market growth space in the future. Sales, trading, distribution, matchmaking, research and other positions form a diversified demand for talents, and the demand for talents is large. You can choose a position according to your own characteristics and interests.

You need to have a good financial foundation, have a deep understanding of bonds, get the securities qualification in advance, pass CFA Level 2 exam at school, or teach yourself fixed income related professional courses.

asset management

Asset management business will develop greatly in the future, especially in the future, a large number of Public Offering of Fund companies will be set up by brokers, and the demand for talents is diverse, which can be actively concerned.

Be proficient in economics, finance, finance and financial engineering. It will be helpful to obtain the securities qualification in advance and prepare for CFA exam earlier, at least passing CFA level.

Securities investment department

Recruitment needs generally only recruit assistant researchers. Usually, a person has to look at many industries, and the work pressure is relatively high, which takes a long time to settle down. By gradually learning investment logic and analysis methods, those who perform well in the follow-up can be promoted to investment managers. People with better investment sensitivity are better choices.

Good majors in economics, finance and financial engineering are needed. It will be helpful to obtain the securities qualification in advance and pass CFA level 1 or 2.

investment banking

For those who have a wide family network and rich social resources, it can help them to get in touch with more project opportunities, which is also very beneficial to their career development in the investment banking sector. However, I often travel and work overtime, and I belong to the flying man.

It is necessary to accumulate the foundation of accounting, finance and law as soon as possible, obtain the qualification of securities practice in advance, and obtain CFA, CPA, lawyer and other qualifications at school.

Summary: Each certificate has its own function and value. What certificate to test must be judged according to your own situation, and you must not follow suit.