Enquiry FRM

[Jackhenry]

Hey there

I'm very much interested in pursuing FRM but there are a few unanswered questions in my mind. If you guys could help me out with these questions, i would be able to plan my career.

Suppose i'm a 12th grade pass out (17 years) with high marks and, as there is no eligible criteria for FRM , I'm applying for it and within 1 year i pass both FRM 1 and 2 exams and now i get FRM holder.

Following are my questions :

1) If i write FRM exam in my country and get qualified with FRM holder, can i work abroad for jobs ?

2) Will anyone recruit me for jobs abroad if I'm just 18 with FRM holder and no work experience ?

3) what would be the average salary for FRM holder at 18 years of age with no work experience (beginner) for 2 years in abroad? (mostly US)

I would be highly thankful if you could guide me through the above questions.

 

[Nicole Seaman]

Hey there

I'm very much interested in pursuing FRM but there are a few unanswered questions in my mind. If you guys could help me out with these questions, i would be able to plan my career.

Suppose i'm a 12th grade pass out (17 years) with high marks and, as there is no eligible criteria for FRM , I'm applying for it and within 1 year i pass both FRM 1 and 2 exams and now i get FRM holder.

Following are my questions :

1) If i write FRM exam in my country and get qualified with FRM holder, can i work abroad for jobs ?

2) Will anyone recruit me for jobs abroad if I'm just 18 with FRM holder and no work experience ?

3) what would be the average salary for FRM holder at 18 years of age with no work experience (beginner) for 2 years in abroad? (mostly US)

I would be highly thankful if you could guide me through the above questions.

Hello @Jackhenry

These are very good questions, and I'm hoping that we can get some answers for you!! I've reached out to our contact at GARP to see if they can provide some insight. In the meantime, there may be other members in the forum who have had the same experiences and could help I will let you know when we receive a reply from GARP.

Nicole

 

[David Harper CFA FRM]

Hi @Jackhenry Welcome I am so impressed (assuming we can indeeed suppose you are a 12th grader!). We are working on some answers to your excellent questions! @Nicole Seaman sorry to cross-post

 

[berrymucho]

Hey there

I'm very much interested in pursuing FRM but there are a few unanswered questions in my mind. If you guys could help me out with these questions, i would be able to plan my career.

Suppose i'm a 12th grade pass out (17 years) with high marks and, as there is no eligible criteria for FRM , I'm applying for it and within 1 year i pass both FRM 1 and 2 exams and now i get FRM holder.

Following are my questions :

1) If i write FRM exam in my country and get qualified with FRM holder, can i work abroad for jobs ?

2) Will anyone recruit me for jobs abroad if I'm just 18 with FRM holder and no work experience ?

3) what would be the average salary for FRM holder at 18 years of age with no work experience (beginner) for 2 years in abroad? (mostly US)

I would be highly thankful if you could guide me through the above questions.

It is nice to see how inspirational the FRM designation can be, but why wouldn't you go to college first? FRM is a professional designation that requires a minimum of 2 years of work experience. It recognizes one's practical proficiency in a specialized (risk management), fast-changing work environment according to global standards. I don't think it constitutes in and of itself an "apprenticeship" in risk management, nor is it meant to be a substitute for (or shortcut instead of) a college education, which by design is much more foundational and broad.

 

[Nicole Seaman]

Hey there

I'm very much interested in pursuing FRM but there are a few unanswered questions in my mind. If you guys could help me out with these questions, i would be able to plan my career.

Suppose i'm a 12th grade pass out (17 years) with high marks and, as there is no eligible criteria for FRM , I'm applying for it and within 1 year i pass both FRM 1 and 2 exams and now i get FRM holder.

Following are my questions :

1) If i write FRM exam in my country and get qualified with FRM holder, can i work abroad for jobs ?

2) Will anyone recruit me for jobs abroad if I'm just 18 with FRM holder and no work experience ?

3) what would be the average salary for FRM holder at 18 years of age with no work experience (beginner) for 2 years in abroad? (mostly US)

I would be highly thankful if you could guide me through the above questions.

Hello again @Jackhenry

First, I want to say that these were excellent and very relevant questions! We are happy to see that you are so motivated to pursue a risk management career at your age! We did receive a response back from our contact at GARP. The first point that we want to share is that 2 years of professional work experience is required in order to become a certified FRM. So unfortunately, even if you passed the exam right out of high school, you would not automatically become certified, as you would be required to have that work experience. GARP responded specifically with this statement, "Coming right out of high school or as a 17-year-old, would be very impressive to sit for our exam and pass. Typically, they are in their third year of college students who have sat for our examination, but I am unaware of anyone ever, having come right out of high school."
This should answer your second question regarding being recruited for an FRM job at the age of 18. You can find more information about the FRM exam on the GARP FAQ page, which is very helpful for many initial questions that may come up: http://garp.org/#!/frm/frequently-asked-questions.

Regarding the average salary, GARP recommended the following, "If you are looking to work in the United States, I would encourage you to visit various job sites that can show you typically what an entry level employee makes. It varies on the city, experience and firm." I do agree that there are many different job sites where you can find current salary information on different FRM positions, so it would be a good idea for you to check those websites.

Again, we commend you for being so motivated as a 12th grade student. Becoming a certified FRM is a great goal for you to strive for in your future!

Nicole

 

[Jackhenry]

It is nice to see how inspirational the FRM designation can be, but why wouldn't you go to college first? FRM is a professional designation that requires a minimum of 2 years of work experience. It recognizes one's practical proficiency in a specialized (risk management), fast-changing work environment according to global standards. I don't think it constitutes in and of itself an "apprenticeship" in risk management, nor is it meant to be a substitute for (or shortcut instead of) a college education, which by design is much more foundational and broad.

Thank you for your reply @berrymucho

I was thinking of getting into college first. Because of their high fee charges and as I'm suffering from financial shortage, i would have to take an educational loan which was not quite satisfying for me and i would have to put my parents into trouble as co-signer. Anyway i was not taking FRM as a substitute for college i was thinking of taking it after i obtain my certification. I found only FRM which could assist me financially in those 2 years of work , the balance made in the 2 years, i would use to pay my fees at college after i obtain the certificate.

 

[Jackhenry]

Hello again @Jackhenry

First, I want to say that these were excellent and very relevant questions! We are happy to see that you are so motivated to pursue a risk management career at your age! We did receive a response back from our contact at GARP. The first point that we want to share is that 2 years of professional work experience is required in order to become a certified FRM. So unfortunately, even if you passed the exam right out of high school, you would not automatically become certified, as you would be required to have that work experience. GARP responded specifically with this statement, "Coming right out of high school or as a 17-year-old, would be very impressive to sit for our exam and pass. Typically, they are in their third year of college students who have sat for our examination, but I am unaware of anyone ever, having come right out of high school."
This should answer your second question regarding being recruited for an FRM job at the age of 18. You can find more information about the FRM exam on the GARP FAQ page, which is very helpful for many initial questions that may come up: http://garp.org/#!/frm/frequently-asked-questions.

Regarding the average salary, GARP recommended the following, "If you are looking to work in the United States, I would encourage you to visit various job sites that can show you typically what an entry level employee makes. It varies on the city, experience and firm." I do agree that there are many different job sites where you can find current salary information on different FRM positions, so it would be a good idea for you to check those websites.

Again, we commend you for being so motivated as a 12th grade student. Becoming a certified FRM is a great goal for you to strive for in your future!

Nicole

Hello @Nicole Seaman

I really appreciate your helping mind, thank you for getting my questions to GARP. I have just checked my salary in payscale, it would be anywhere between 42k - 65k dollars. I am counting on FRM as my career starting. ;-)

 

[JAMALRISK]

Dear All,
I have passed FROM 1&2 in 2015. Since that time, I did not follow any updated about FRM exams. Last week I managed to have FRM Practice exams for 2016 and 2017, and I was surprised to see that many of the actual real FRM questions were published in the practice exams. This is a big change, since GARP used to publish mini practice exams that are not reflective of actual exam. I recommend all FRM candidates to study the practice exams carefully and follow its style in preparing for the exam.

Jamal, CFA, FRM, CAIA