PRM versus FRM-Recognition

[buddy4all]

I have read the comparison FRM versus PRM made on your website.However my question is a bit different.I am planning to work in US in the years to come.For this I wish to get enrolled in a US masters programme.Due to some reason I want the following perios June-Dec 2009 free for GRE or GMAT.So I have thought to give PRM in the coming months.

My question is would having PRM considered a inferior certification as compared to FRM by the US companies.


Any replies would be welcome.

 

[David Harper CFA FRM]

I am biased (we teach FRM not PRM), although I am a member of both. My $0.02: the FRM has been solidly winning against the PRM on the issue of certification success (i.e., number of certificants, trend in registrations, generaly perception). Arguably, PRM is stronger in regard to organization/affiliation (i.e., members in PRMIA); I spoke to an insider recently who felt PRM successfully focused on membership to the neglect of the certification. So, my best *guessestimate* is that FRM is stronger on the certification but it's more of a contest on the membership/affiliation aspect. (but, you may know, PRMIA is younger, GARP has a longer history)

However, this is somewhat a marginal observation. I feel both that (i) both signify a baseline competency in risk, but (ii) neither is fully matured (seasoned) yet in the marketplace; as hinted by GARP's exponential growth rate, the risk designation is still gaining mindshare. For example, neither (in my view) have historically been greatly found in job qualifications (i.e., "FRM required or preferred") unlike the CFA, which is often listed as a job qualification. (But, already last year, we started to see the FRM show up a bit in job descriptions! Given the credit crunch, we can likely expect greater employer respect for both...) It is a way of saying that, I'd argue from a perception standpoint, they have more in common than they have differences.

The exams are different. PRMs last year was stale, however, PRMIA is obviously investing effort going forward. They have a new, less rigorous associate PRM. And, I also understand, they will soon reveal new program details. If Carol Alexander (author of this 4-volume set) is again the editor of the program, then I am really looking forward to seeing their revamped program because she is phenomenal.

David

 

[buddy4all]

Hi David,

Thanks for your detailed reply.This definitely answers my question.

One more thing I would like to add is that clearing FRM can be considered having exam cracking ability,since one has to master the entire syllabus at one go which in my opinion is more difficult than 4 segregated exams that can be taken/retaken as per convenience.


Thanks
Abhishek

 

[rsharathkumar]

hi

i am actually interested in doing the prm course but do not have any qualification in risk management and work as in sales but actaully interested in attaining the prm designation . could anyone please guide me how do i go about obtaining the prm designation