Table of Contents
ToggleIntroduction
Financial Risk Manager (FRM) is the most prestigious and sought-after professional credential in the banking business. Let’s have a quick introduction before moving on to the FRM Course duration. A global association of risk professionals (GARP) provides this course, which teaches professionals how to assess and manage enterprise risks.
To earn their certification, FRMs must complete two levels of study: Part I and Part II. GARP provides an official curriculum for both exams, which is standardized based on a set of learning objectives that are reviewed annually. As part of the FRM designation, candidates will be kept up to date on financial theory and practices.
Duration of FRM course
Although the length of the FRM course is heavily dependent on the learner’s learning style and study habits, there are some general suggestions for each level of study.
- To pass Part I- A study period of 75-125 hours is required that is spread out over five months. This period consists of reading through the curriculum, practicing questions, taking proctored practice tests, and studying any additional resources that may be available.
- Since Part II covers more advanced topics related to financial risk management, preparation is more intensive. GARP advises 150-200 hours of dedicated study over the course of a 6-month FRM course leading up to the exam date (combined with a frequent review of previous materials). Also, candidates must be able to comprehend VaR calculations and stress testing methods in great detail in part II.
It covers more advanced topics, such as Credit Risk Management, Market Risk Management, and Operational Risk Management which are more difficult than Part I and require a significant investment in terms of time and effort.
The average length of an entire course duration is 68 months (30-40 hours per week). After both parts have been successfully passed, participants are awarded their Financial Risk Manager (FRM) certification.
Must read: CS Course Duration, CA Course Duration
FRM Course Eligibility Criteria
Before starting with this course you must be thoroughly aware of the eligibility for the Financial Risk Manager (FRM) course as well as any additional requirements you could have in terms of training or experience.
Although GARP has not released any explicit eligibility requirements for potential FRM candidates, the certification requirements serve to define the general eligibility criteria for FRM.
The FRM certification requirements are divided into two categories:
- The candidate must pass FRM Exam Parts I and II in chronological sequence and within the time restriction specified.
- The candidate must have at least two years of full-time job experience in financial risk management.
As a result, the candidate must achieve the following eligibility conditions to fulfill the work experience requirement for certification:
- The candidate should have earned an undergraduate degree in finance or a similar field, as well as appropriate job experience in financial risk management.
- The candidate must have a working knowledge of financial risk management concepts.
FRM Syllabus
Two parts of the FRM syllabus cover five core topics:
In order to pass the exam within the course duration, you must study these five topics within the core curriculum of the course. Each part covers different material; for example, the first part focuses on understanding the foundations of risk management while the second part discusses quantitative analysis and financial markets.
If you are still thinking about what time it takes to prepare for the exam, other than the duration of the FRM course, you are not alone. To properly cover all 5 topics and solidify their knowledge base, candidates should devote at least 80 hours over a lengthy preparation period typically 4 – 6 months.
Fees for FRM Course
In India, if you wish to pursue FRM, candidates have to pay FRM registration fees for both Part 1 and Part 2, wherein the fee structure is as follows:
Part 1:
Early Registration |
USD 825 |
Standard Registration |
USD 950 |
Late Registration |
USD 1125 |
Part 2:
Early Registration |
USD 350 |
Standard Registration |
USD 475 |
Late Registration |
USD 650 |
Fortunately, students who wish to attain their certification have many options regarding the costs associated with completing the required coursework. Many online courses provide discounts or even free trial periods, allowing participants to learn about the various elements they need to know before committing any dollars to the completion of their certification.
Furthermore, corporate-sponsored programs may provide discounts on completion fees and access to materials necessary to succeed on exams. As a final note, you may be able to defray some or all of the costs associated with obtaining your certification by applying for scholarships or grants offered by universities.
The Best Online FRM Courses in India
The following section will help you identify the top online FRM courses available in India and their course durations.
- EduPristine: They offer comprehensive study materials, mock exams, and classroom training sessions to help students prepare for the FRM exam.
- AnalystPrep: It provides students with a range of affordable study packages that come with access to video lectures, practice questions, and performance analytics. From its website, the Investment Banking Institute provides self-paced and mentor-led FRM courses with durations varying from four to eight weeks.
- Edureka: It offers comprehensive Beginner and Advanced level programs covering concepts such as derivatives pricing, portfolio management, and other financial products – with instructors available to help out every step of the way.
- Simplilearn: It provides both Part I and II of GARP’s official curriculum for their FRM program. It takes five months to complete each module of the FRM program. Also provided are study plans, which can be useful for candidates in organizing their preparation process.
- Indian Institute of Management Ahmedabad (IIMA)’s Financial Risk Manager (FRM) course: It is designed for both business professionals and academics. The FRM program lasts 16 weeks. It covers topics such as credit risk management, equity & derivatives markets, investment banking, portfolio management techniques, balance sheet analysis, and forex trading & hedging techniques.
FRM Graduate’s Salary
Are you a recently graduated FRM looking to know what salary to anticipate in the financial sector? In India, an individual’s FRM salary depends on the number of years of experience they have acquired, qualifications, and competencies.
There are exceptional prospects for FRM graduates with salaries running from Rs 4 Lakhs to Rs 15 Lakhs as per geographical location. More lucratively paid positions are available if one has specialized skills such as risk management or investment banking.
Top 10 Companies for FRM
- ICBC
- Bank of China
- HSBC
- Agricultural Bank of China
- Citigroup
- KPMG
- Deutsche bank
- Credit Suisse
- UBS
- PwC
Also read: FRM Salary, ACCA Salary
Conclusion
The scope of Financial Risk Management (FRM) in India has become increasingly advantageous in the business world today. Although this degree is relatively new in India, it is quickly gaining popularity due to the wide range of skills and knowledge it provides for a job as a risk analyst. It is highly popular in India for students to take FRM courses to gain insight into finance and financial risk management.
Frequently Asked Questions (FAQs)
The FRM course’s duration might be somewhat long. Therefore, I advise spending at least 200 hours studying—or around two hours every day for three months. You could need fewer hours if you have prior maths and/or risk management expertise. But if you lack expertise in any or both of these fields, I strongly advise dedicating at least 200 hours to an FRM course.
The FRM Exam Part I is open to everyone who has begun an undergraduate degree. You must have finished your undergraduate degree to be eligible for the FRM Exam Part II.
You can register for the FRM Exam at any time. After passing two multiple-choice exams (FRM Exam Part I and Part II) and having two years of relevant work experience, the certification is granted.
The FRM exam is considered challenging due to its comprehensive and technical curriculum, but with proper preparation and dedication, passing it is achievable.
FRMs typically receive high salaries based on their skills, job position, and industry specialization among other factors. The average starting salary ranges from 4-15 Lakhs.