The Financial Risk Manager (FRM) course has become increasingly popular since the Global Financial Crisis, and even more so in the wake of COVID-19. This certification is specifically designed for risk management professionals who analyze, control, and evaluate potential risks in markets. With an FRM certification, professionals can play a crucial role in identifying and managing risks, which is an essential aspect of any successful businesses. The role of an FRM includes managing risk in government agencies, investment banks, asset management firms, and corporations. In major metropolitan areas like Mumbai, Bangalore, Chennai, and Delhi, there are a plethora of opportunities for FRMs, which offer competitive salaries and benefits.
In today’s job market, obtaining an FRM certification can be a valuable asset to both students and working professionals looking to advance their finance careers. In India, entry-level FRM holders earn an average salary of ₹9,00,000, and salaries increase with experience level, academic qualifications, and the company of employment.
- Experience is undoubtedly one of the major determinants that have a significant impact on your salary and career growth prospects. It is widely accepted that as you gain more experience in a particular field, you become more competent and proficient, which in turn enhances your chances of securing better job opportunities and higher remuneration. Furthermore, with experience, you develop a better understanding of the industry, its trends, and the challenges it faces, which allows you to make more informed decisions and drive better results.
- Another factor that can impact the benefits offered by a company is its scale of operations. Generally speaking, larger companies have more financial resources and abilities at their disposal, which can translate into more extensive packages for their employees. In contrast, smaller companies may not have the same level of resources and may therefore offer more modest packages. However, it’s worth noting that this isn’t always the case. Some smaller companies are able to provide highly competitive benefits packages despite their size, thanks to efficient management and strategic decision-making. Ultimately, the size of a company is just one of many factors that can impact the benefits it offers to its employees.
- There are several skills that can be applied to accelerate your growth in a particular subject area. It is important to have expertise in the subject matter, but it can also be beneficial to acquire additional skills such as financial modelling, networking, communication, negotiation, data analysis, and financial analysis. By expanding your skillset, you can become a more well-rounded and valuable asset in your field. Additionally, having a diverse range of skills can help you adapt to changing circumstances or new opportunities that may arise. Therefore, it is recommended to continuously learn and develop new skills throughout your career.
Becoming an FRM opens up a world of career opportunities in major corporations, including but not limited to the following companies:
- Goldman Sachs
- JPMorgan Chase & Co.
- Citigroup Inc.
- BlackRock, Inc.
- Morgan Stanley
- HSBC Holdings plc
- Credit Suisse Group AG
- Deutsche Bank AG
- Barclays plc
- The Boston Consulting Group
Having the right guidance is crucial for your FRM journey. In order to achieve success in the field, it is important to seek out experienced mentors who can provide you with the knowledge and skills necessary to excel.In addition to seeking out guidance from experts in the field, it is also important to focus on building practical knowledge and a performance profile that sets you apart. This can include taking on challenging projects, participating in industry events, and continuously seeking out opportunities to learn and grow. By prioritizing these key areas, you can maximize your growth and potential in the exciting and dynamic field of FRM in India.
The Wall Street School is an approved training Partner of GARP, the affiliate body for conducting FRM Exams. A live update of FRM results is available HERE.
