FRM^® Career Path

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Financial Risk Manager^® Career Path

Financial risk management is minimizing a company’s negative exposure through identifying, analyzing, and managing uncertainties in a firm’s day-to-day operations. In recent years, risk managers are in high demand around the world as different corporations seek to make names for themselves as long-term winners. Here at Bionic Turtle, we aim to give our customers a head start on your career path to becoming a financial risk manager through our prep courses for the FRM.

Is Being a Financial Risk Manager Worth It

One of the motivating factors of those in financial risk management is the salary that comes along with it, especially as one moves up the ranks. Aside from the compensation, there are plenty of other factors that could convince you to choose this career path, such as:

- Risk managers work with a wide range of companies.
- Exit opportunities such as into private consulting.
- High degree of job security.
- Good work/life balance for a career in finance.

This field would appeal to those who enjoy solving problems and putting both their quantitative and analytical skills to the test.
Suitable candidates for roles in financial risk management should have excellent quantitative skills and the ability to deal with complex problems under pressure. Tight deadlines are common in this role and a decent amount of experience will pay off. Roles in risk management can be very rewarding to those who enjoy a more analytical and quantitative role with less client-focused work in a dynamic environment.

Financial Risk Manager Jobs

In the finance sector, most candidates first need a bachelor’s degree in a related field such as finance, business management, or accounting. Completing a summer internship in the risk department is useful because it will give you the opportunity to gain relevant experience while also possibly securing a full-time role.

Here is the typical financial risk management career path ladder:

- Risk Analyst
- Risk Manager
- Senior Risk Manager
- Chief Risk Officer (CRO)

Financial Risk Manager Salary

Even though risk management doesn’t typically have as high of a salary as other finance fields, it’s quite good given the better work/life balance and higher job security. In the United States, the fields that were listed above have the following salary ranges:

- Risk Analyst Salary - $70K-$140K
- Risk Manager Salary - $90K-$150K
- Senior Risk Manager Salary - $120K-$200K
- Chief Risk Officer (CRO) Salary - $200K-$450K

These numbers don’t reflect exact figures, which depend on additional variables like type of specialization, location, and firm in question. Generally, the location, size, and performance of the company have the biggest impact on salaries. Working at a big company in a big city like New York or London can give a bigger salary compared to a smaller firm in a different area.

Is Risk Management a Good Career Path?

Being a financial risk manager is an incredibly stable career path. With its competitive salary range and work-life balance in comparison to other positions in the finance field, being an FRM gives you the opportunity to grow in a position, have a stable job, and also have time for life outside of work. Being a financial risk manager is such a great career path that it’s a simple decision to utilize Bionic Turtle’s wide array of helpful study tools and resources.

Length of the FRM^® Course

Generally, it takes 1-2 years to complete both parts of the FRM course, which are Part I and Part II. You must also have at least 2 years of relevant work experience in order to complete the certificate.

Which is Better: CFA^® or FRM^®?

There isn’t a clear answer to which of these exams is better because they offer two different certificates. The CFA is meant for those in the investment management field, like investment bankers or portfolio managers. The FRM is a specialized exam for financial risk management.

Is Risk Management a Stressful Job?

Being a Risk Manager in the finance field can be an incredibly stressful job, however, it’s a job that will always be needed in the field. At the end of the day, you have to decide for yourself if it’s a career you’re willing to put the work into.

Register Today!

Stand out from your peers and register to take the FRM exam today and let Bionic Turtle provide you with the knowledge that is necessary to pass the exam! Explore our study packages and contact us today to see how we can help you get started as a financial risk manager.

What Your Colleagues Are Saying

I took the exam in Sydney and had a similar feeling about the exam being more qualitative (but no less rigorous). However, I felt I was better prepared thanks to the BT's relentless focus on throwing real life examples and methods.

Jagan G.

I subscribed to BT for my Part 1 FRM exam and just wanted to say thanks for the depth and breadth of the study materials and practice questions. I found out that I scored in the top quartile of every topic and I absolutely could not have done this without using BT - I spent many, many hours going over the practice questions and answers! I wanted to express my appreciation and gratitude to your team for your hard work in creating these materials. Thanks!

Shu C.

The BT scripts, practice questions, global topic drills and mock exams were a great help in understanding the concepts (which I could already apply on the job!) and where structured in such a manner that the breadth and depth where optimal for exam preparation - clearly the exam would have been a catastrophe without BT!

Ivan J.

Passed first time. Happy all the hard work paid off. BT was the right choice. Thanks David and Nicole for your work and commitment.

John D.

Passed! 1,4,1,2,1,4! Thank you David and Nicole for your efforts! Thank you BT! Couldn't have done it otherwise. I'm a mechanical engineer who had a career in petroleum services, then I decided to switch career to financial risk management. Passed part 1 from the first time with top quartiles and passed part 2 from the first time as well. All with BT! BT is always the recommendation I give to people aiming at the FRM designation! Thank you again!

Feras S.

Passed Part I and Part II first time - absolutely could not have done it without BT. Like a few others I didn't even both buying the GARP books for Part II and went solely with BT materials. Just read, answered questions, watched videos, read, more questions, and... more questions! All the practice question taking looked to pay off. Thanks again Bionic Turtle for a great curriculum. Keep up the fantastic work!

John D.

FRM® Career Path

Financial Risk Manager® Career Path