FRM – Financial Risk Manager
FRM – Financial Risk Manager vs 3 alternatives compared
Exam fee, level, duration, validity and salary side by side. Blank cells mean we do not have verified data yet.
| FRM – Financial Risk Manager | CFA Level I – Chartered Financial Analyst | CFA Level II – Chartered Financial Analyst | CFA Level III – Chartered Financial Analyst | |
|---|---|---|---|---|
| Vendor | GARP | CFA Institute | CFA Institute | CFA Institute |
| Level | Advanced | Beginner | Intermediate | Advanced |
| Exam fee | $875–$1,175 | USD 3,520 | $940–$1,250 | USD 3,520 |
| Duration | — | — | Two 132‑minute sessions | — |
| Passing score | — | — | — | — |
| Valid for | — | — | — | — |
| Typical salary | $110K–$160K | $80K–$120K | $100K–$150K | $130K–$200K |
| Prerequisites | At least two years of relevant work experience | Pass all three CFA exams and document 4,000 hours of relevant work experience | — | Pass all three CFA exams, complete 4,000 hours of relevant work experience, and become a … |
Which should you choose?
Should I take FRM – Financial Risk Manager or CFA Level I – Chartered Financial Analyst first?
CFA Level I – Chartered Financial Analyst is the lower-level certification (Beginner vs Advanced), so it is usually the better first step.
Should I take FRM – Financial Risk Manager or CFA Level II – Chartered Financial Analyst first?
CFA Level II – Chartered Financial Analyst is the lower-level certification (Intermediate vs Advanced), so it is usually the better first step.
Should I take FRM – Financial Risk Manager or CFA Level III – Chartered Financial Analyst first?
Both are rated Advanced. Pick the one whose exam domains match the job you want, and check which one employers in your area ask for.