FRM Scope and Job Opportunities in India and Abroad

FRM stands for Financial Risk Management, which is a world-renowned certification offered by GARP (Global Association of Risk Professionals), based in the USA. This particular qualification provides students with the knowledge of managing financial risks in various financial industries and institutions. However, while pursuing this course, there are so many doubts that might come into the mind of a candidate, especially about the fate of the course and how the future of this course is going to turn out. 

No need to worry; we are here with the blog to make you understand the scope and job opportunities of the FRM course. 

Scope of FRM in India and Abroad 

The FRM course has created a lot of demand, especially in the banking, financial, and insurance sectors. The certification equips students with the knowledge of market risk, credit risk, operational risk, and financial risk analytics, making them ready for industries with risk-sensitive roles. 

Scope of FRM in India 

There are a lot of Indian sectors and industries ready to hire a Financial Risk Manager, especially the ones associated with risk and banking roles. 

The top industries hiring FRM professionals in India are:

• Reserve Bank of India (RBI): The financial regulatory authority emphasizes risk management amidst all these financial complexities. 

• Most Indian banks—SBI, HDFC, ICICI, and Axis—hire FRM professionals. 

• Investment firms: Firms focusing on insurance-related work, hedge funds, and credit-related industries seek FRM professionals. 

• FinTech Companies: Companies or startups providing blockchain, cryptocurrency, and AI-driven work hire FRM professionals. 

Scope of FRM in Abroad 

FRM has a reputation globally, giving opportunities to job seekers to look at foreign companies too. Even foreign-origin companies in India offer a lot of room to grow and earn a lucrative salary. 

The top industries hiring FRM professionals abroad are:

• The UK, US, Canada, Singapore, UAE, and European countries value FRM certification a lot. 
• Investment banks like Goldman Sachs and JP Morgan hire FRM professionals. 
• Financial firms and consulting agencies prefer FRM experts. 
• Hedge funds, equity firms, and asset management companies need risk managers to solve financial complexities. 

Job Opportunities after FRM 

With FRM certification, a lot of sectors open their doors for candidates, mostly in risk and investment management sectors. There are a lot of financial complexities with technology industries taking over, AI-integrated systems taking over, and job creation for FRM professionals becoming more common. Compliance and regulatory services seek experts for their clients to make them accustomed to the rules and workings. 

Top job roles offering career opportunities for FRM professionals are: 

• Risk Managers: Assesses the financial risks for banks. 

• Credit Risk Analysts: Analyzing creditworthiness for corporations 

• Market Risk Analyst: Monitoring risks according to market trends 

• Operational Risks Managers: Analyzing the internal risks 

• Investment Risks Analyst: Risk management firms and Hedge Funds

• Regulatory Risk Analysts: Ensures compliance regulations 

• Portfolio Manager: Managing portfolios with risk factors in account 

Salary Breakdown for FRM in India & Abroad 

The average salary for Financial Risk managers in India ranges from INR 8 to 25 LPA based on experience and company, whereas the average salary abroad in the US, UK, Canada, etc., is $80,000 to $150,000 per year. 

These figures are based on several important factors like experience, industry, and job roles. With more experience, senior roles can be taken in no time, which come with more responsibilities.

FRM Salary in India 

The FRM salary in India provides a lot of earning potential depending on the job roles, industry, and location. 

The salary for FRM based on the role, experience, and industry is given: 

• Entry Level (0-2 years): The roles of Risk analysts or junior risk managers offer a salary of INR 6 - 8 lakhs per annum in locations like Mumbai, which is a Tier 1 city. 
• Mid-Level ( 3 -5 years): Senior roles of risk managers or analysts have salaries between INR 12 and 20 LPA in Tier 1 cities. 
• Senior-Level ( 7 + ): Senior positions like Chief Risk Officer in large MNCs or banks or corporations can have salaries from INR 25 to 50 LPA. 

FRM Salary in Abroad

Globally, there are major firms offering significant salaries to FRM professionals that are growing. Based on the organization, experience, and country. 

A brief introduction to the salary of FRM abroad: 

• In the US, financial risk managers have competitive salaries based on the institution. The UK is a major financial hub, and salaries for positions have a high potential.
• Banking and Financial services related to investment, like Goldman Sachs and Morgan Stanley, hire FRM professionals readily. 

What to do after FRM 

Once done with the FRM certification, there are steps to follow in order to establish a career and land high-salary jobs. From learning the required tools to understanding the role completely and its applications, FRM course learning consists of certain steps to follow after the course ends. Focus on both parts of the course, the FRM syllabus: Part 1 & 2, and then, with the right guidelines, you can ace an excellent career path. 

Here is a guideline on what to do after the FRM course ends: 

• Gain practical Experience 
• Learn Data Analysis Tools
• Gain Additional Certificates like in the CFA course
• Join experts on networking sites and attend seminars 

Read More: 

• FRM Course Eligibility 
• Top 6 Trends in the Financial Services Industry
• How to Get a Job in a Private Sector Bank?
• Highest Paying Finance Jobs in India

Frequently Asked Questions ( FAQs ) 

FRM or CFA, which one is better for a career in finance? 

Here is a table on CFA vs. FRM to help you understand better: 

 

CFA	FRM
Students with prior investment experience	People with a quantitative background
Investing and market basics	Statistical and mathematical foundations
Can be combined with FRM for an enhanced resume	Enhances job opportunities when combined with CFA
Can be combined with FRM for an enhanced resume	Microscopic examination of risk management in the CFA course

To learn more about the differences between CFA and FRM, refer to: CFA vs FRM 

Will just an FRM certificate get me a job in India? 

Yes, however, some companies seek professionals with significant experience in finance roles; freshers can apply for roles like Risk analysts, credit analysts, or consulting firms. 

What is the course duration of FRM? 

FRM has two parts, and both can be completed in 6 - 12 months if preparation is good. Once completed, a relevant two years of experience is needed to gain FRM designation.