{"id":538,"date":"2024-08-20T12:56:00","date_gmt":"2024-08-20T12:56:00","guid":{"rendered":"https:\/\/www.edzeb.com\/blog\/?p=538"},"modified":"2026-08-11T09:58:57","modified_gmt":"2026-08-11T09:58:57","slug":"cfa-vs-frm","status":"publish","type":"post","link":"https:\/\/www.edzeb.com\/blog\/cfa-vs-frm\/","title":{"rendered":"CFA vs FRM \u2013 Which Pays Better & Is Easier to Clear?"},"content":{"rendered":"

Deciding between CFA vs FRM requires finance aspirants to have information on each of the qualifications to decide what to choose. No doubt, both offer equally rewarding careers with competitive salaries, but serve different purposes, so your choice completely depends on your career goals and personal interests.\u00a0<\/span><\/p>\n

In the following sections, let us compare both certifications based on eligibility, syllabus, exam structure, course duration, fees, difficulty level, career opportunities, salary in India, and future scope to help you make an informed decision.<\/span><\/p>\n

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Table of Contents:<\/b><\/h2>\n
    \n
  1. CFA vs FRM Course Details<\/a><\/b><\/li>\n
  2. CFA vs FRM Career Scope and Salary<\/a><\/b><\/li>\n
  3. CFA vs FRM Difficulty?<\/a><\/b><\/li>\n
  4. Is FRM Worth It After CFA?<\/a><\/b><\/li>\n
  5. CFA vs FRM Course Fees<\/a><\/b><\/li>\n
  6. CFA or FRM, which is better?<\/a><\/b><\/li>\n
  7. Conclusion<\/a><\/b><\/li>\n
  8. Frequently Asked Questions<\/a><\/b><\/li>\n<\/ol>\n<\/div>\n

    CFA vs FRM Course Details
    \n<\/b><\/h2>\n

    CFA vs FRM course details are important to understand the key differences each certification offers. So, the table below breaks down the details, including structure, exams, salary, etc., to help you decide what suits your career aspirations.<\/span><\/p>\n\n\n\n\n\n\n\n\n\n\n
    \n

    CFA vs FRM<\/b><\/h4>\n<\/td>\n<\/tr>\n

    Aspect<\/b><\/td>\nChartered Financial Analyst (CFA)<\/b><\/td>\nFinancial Risk Manager (FRM)<\/b><\/td>\n<\/tr>\n
    Course Structure<\/b><\/td>\nThree levels<\/strong>:
    \n<\/span>Level I (Knowledge and Tools)
    \n<\/span>Level II (Application) and
    \n<\/span>Level III (Portfolio Management)<\/span><\/td>\n    		Two parts:\u00a0<\/strong>
    \n<\/span>Part I (Foundations of Risk Mgt.)
    \n<\/span>Part II (Market, Credit, and Operational Risk)<\/span><\/td>\n<\/tr>\n
    Exam Frequency<\/b><\/td>\nLevel I in February, May, August, and November; Level II in May, August and November and Level III in May and August<\/span><\/td>\nExams are held twice a year, in May and November<\/span><\/td>\n<\/tr>\n
    Duration<\/b><\/td>\nTypically 2-4 years\u00a0<\/span><\/td>\nTypically 1-2 years\u00a0<\/span><\/td>\n<\/tr>\n
    Study Time Required<\/b><\/td>\nApprox. 300 hours per level<\/span><\/td>\nApprox. 200-300 hours per part<\/span><\/td>\n<\/tr>\n
    Key Topics Covered<\/b><\/td>\nInvestment Analysis, Portfolio Management, Ethics, Economics, Quantitative Methods<\/span><\/td>\nRisk Management, Quantitative Analysis, Financial Markets, Regulations<\/span><\/td>\n<\/tr>\n
    Certification Focus<\/b><\/td>\nInvestment Management, Financial Analysis<\/span><\/td>\nRisk Management, Financial Risk Assessment<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

    From the tabular chart, it is worth noticing the difference between CFA and FRM. Mainly, the <\/span>CFA course duration<\/span><\/a> is double that of the FRM course duration. In turn, affecting the FRM course fee, which is comparatively less but demanding almost the same study time in terms of devoting hours of study. Based on the topics covered in each qualification, you can decide what to proceed with further.<\/span><\/p>\n

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    CFA vs FRM Career Scope and Salary<\/b><\/h2>\n

    CFA is the gold standard credential chosen to build a career in investment banking, equity research, portfolio management, asset management, private equity, or wealth management.\u00a0<\/span><\/p>\n

    On the other hand, FRM lets you build careers in financial risk management, credit risk, market risk, operational risk, treasury, or regulatory compliance. Without any doubt, both certifications open doors to a rewarding <\/span>career in finance<\/a>, but professional goals and industries vary. So, it is suggested to choose any of the CFA or FRM based on your preferences.<\/span><\/p>\n\n\n\n\n\n\n\n\n
    \n

    CFA vs FRM Scope<\/strong><\/h4>\n<\/th>\n<\/tr>\n<\/thead>\n

    Career Opportunities<\/b><\/td>\nInvestment Analyst
    \n<\/span>Portfolio Manager,
    \n<\/span>Research Analyst,
    \n<\/span>Financial Advisor<\/span><\/td>\n    		Risk Manager,
    \n<\/span>Credit Risk Analyst,
    \n<\/span>Market Risk Analyst,
    \n<\/span>Operational Risk Analyst<\/span><\/td>\n<\/tr>\n
    Industry Demand<\/b><\/td>\nHigh in investment management,
    \n<\/span>equity research, and
    \n<\/span>portfolio management<\/span><\/td>\n    		High in financial institutions, corporate finance, and\u00a0<\/span>consulting firms<\/span><\/td>\n<\/tr>\n
    Average Salary<\/b><\/td>\nGenerally higher, with senior roles such as Portfolio Managers or Analysts commanding higher salaries<\/span><\/td>\nCompetitive, with salaries growing with experience in risk management roles<\/span><\/td>\n<\/tr>\n
    Top Recruiters<\/b><\/td>\nGoldman Sachs, JP Morgan, Morgan Stanley, BlackRock, Morningstar, KPMG, EY, and Deloitte\u00a0<\/span><\/td>\nHSBC, Citi, Barclays, Deutsche Bank, Wells Fargo, CRISIL, Moody’s <\/span>and PwC.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

    The curriculum in the CFA certification covers investment, financial analysis, work ethics, professionalism, asset evaluation, and portfolio management, making it highly valuable in the job market. You can find jobs in investment management, research, and asset management, including many others across various industries. As a result, <\/span>CFA salary in India<\/span><\/a> is often higher compared to many other finance roles, reflecting the demand for such specialised skills.\u00a0<\/span><\/p>\n

    On the other hand, FRM certification focuses on risk management of factors associated with assets and businesses, such as credit risk, volatility, foreign exchange, liquidation, inflation, and other financial challenges. Therefore, both CFA and FRM certifications involve financial analysis, but there are significant differences in the job roles offered to the professionals and their respective salary packages, as the tabular chart below shows.<\/span><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
    \n

    CFA vs FRM Salary\u00a0<\/b><\/h4>\n<\/td>\n<\/tr>\n

    Certification<\/b><\/td>\nJob Role<\/b><\/td>\nEstimated Salary Range (Annual)<\/b><\/td>\n<\/tr>\n
    \n

    CFA<\/b><\/p>\n<\/td>\n

    		\n

    Investment Analyst<\/span><\/p>\n<\/td>\n

    		\n

    $70,000 – $100,000<\/span><\/p>\n<\/td>\n<\/tr>\n

    <\/td>\n\n

    Portfolio Manager<\/span><\/p>\n<\/td>\n

    		\n

    $90,000 – $150,000+<\/span><\/p>\n<\/td>\n<\/tr>\n

    <\/td>\n\n

    Equity Research Analyst<\/span><\/p>\n<\/td>\n

    		\n

    $80,000 – $120,000<\/span><\/p>\n<\/td>\n<\/tr>\n

    <\/td>\n\n

    Financial Advisor<\/span><\/p>\n<\/td>\n

    		\n

    $60,000 – $110,000<\/span><\/p>\n<\/td>\n<\/tr>\n

    <\/td>\n\n

    Corporate Financial Analyst<\/span><\/p>\n<\/td>\n

    		$70,000 – $110,000<\/span><\/td>\n<\/tr>\n
    <\/td>\nChief Investment Officer (CIO)<\/span><\/td>\n\n

    $200,000+<\/span><\/p>\n<\/td>\n<\/tr>\n

    \n

    FRM<\/b><\/p>\n<\/td>\n

    		\n

    Risk Manager<\/span><\/p>\n<\/td>\n

    		\n

    $80,000 – $120,000<\/span><\/p>\n<\/td>\n<\/tr>\n

    <\/td>\n\n

    Credit Risk Analyst<\/span><\/p>\n<\/td>\n

    		$70,000 – $100,000<\/span><\/td>\n<\/tr>\n
    <\/td>\nMarket Risk Analyst<\/span><\/td>\n\n

    $80,000 – $130,000<\/span><\/p>\n<\/td>\n<\/tr>\n

    <\/td>\nOperational Risk Manager<\/span><\/td>\n$90,000 – $140,000<\/span><\/td>\n<\/tr>\n
    <\/td>\n\n

    Chief Risk Officer (CRO)<\/span><\/p>\n<\/td>\n

    		\n

    $150,000+<\/span><\/p>\n<\/td>\n<\/tr>\n

    <\/td>\nRegulatory Risk Consultant<\/span><\/td>\n\n

    $85,000 – $130,000<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

    According to the industry reports, the demand for both professionals has increased after the pandemic. The companies need investment experts and financial risk managers to ensure their finances are safe and secure. Moreover, the differences in salaries vary based on factors such as location, company size, individual performance, and economic conditions.<\/span><\/p>\n\n\n\n\n\n\n\n
    \n

    CFA vs FRM Salary Based on Experience<\/b><\/h4>\n<\/td>\n<\/tr>\n

    Experience Level<\/b><\/td>\nCFA Salary (INR per annum)<\/b><\/td>\nFRM Salary (INR per annum)<\/b><\/td>\n<\/tr>\n
    Entry-level (0-2 years)<\/b><\/td>\n7 lakh – 12 lakh<\/span><\/td>\n6 lakh – 9 lakh<\/span><\/td>\n<\/tr>\n
    Mid-level (3-7 years)<\/b><\/td>\n13 lakh – 25 lakh<\/span><\/td>\n10 lakh – 15 lakh<\/span><\/td>\n<\/tr>\n
    Senior-level (8+ years)<\/b><\/td>\n26 lakh – 50 lakh+<\/span><\/td>\n20 lakh – 30 lakh+<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

    *Note:<\/strong> The figures should be considered as general ranges rather than exact values.<\/span><\/p>\n

    CFA Salary in India
    \n<\/b>
    \nThe <\/span>CFA salary in India<\/span><\/a> varies by industry, but you gain higher packages in investment banking, asset management, credit rating agencies, private equity and venture capital, and consultancy firms.\u00a0\u00a0<\/span><\/p>\n

    The average CFA salary in India ranges from \u20b910 lakh to \u20b930 lakh per annum, varying for freshers and experienced professionals. Freshers earn from \u20b97 lakh to \u20b912 lakh, while mid-level CFA salary in India range from \u20b913 lakh to \u20b925 lakh and Senior-level salaries range from \u20b926 lakh to \u20b950 lakh+ per annum.\u00a0<\/span><\/p>\n

    It is observed that multinational companies generally offer higher salaries, as compared to smaller firms or startups that may provide other benefits like equity, faster growth trajectories, and hands-on experience.<\/span><\/p>\n

    FRM Salary in India<\/b><\/h3>\n

    The FRM salary in India varies depending on the organisation one works for, which ranges between \u20b99 lakhs and \u20b911.5 lakhs. However, students can work to add to their expertise resulting in raising their compensation by accepting internships in reputable businesses. This monetary compensation increases with additional years of experience.<\/span><\/p>\n

    CFA vs FRM Difficulty?<\/b><\/h2>\n

    CFA vs FRM difficulty mainly lies in the curriculum and students generally find the latter one more challenging due to its application-based questions and minimal theory. The further differences may help you decide better for yourself:<\/span><\/p>\n

      \n
    1. CFA is easier for investment-based students due to its focus on investment and market fundamentals, while FRM is easier for quantitative students due to its foundation-level statistical and mathematical topics.\u00a0<\/span><\/li>\n
    2. CFA just has a longer course structure and takes a longer preparation time. The most common reason candidates say that FRM is more difficult is due to the use of advanced mathematics, which is not required in CFA.\u00a0<\/span><\/li>\n<\/ol>\n

      Therefore, if you excel in mathematics and are interested in a future related to it, FRM is a better choice, otherwise, go for CFA certification.\u00a0<\/span><\/p>\n

      If you’re asking yourself\u00a0 Is CFA Difficult?<\/em>, our video guide offers a clear breakdown of what to expect.<\/strong><\/p>\n