The Financial Risk Manager (FRM) certification, offered by GARP, is regarded as the gold standard for careers in risk management across banking, investments, insurance, and regulatory fields. What makes it appealing is the simple FRM eligibility criteria — there are no strict prerequisites to register, which means both fresh graduates and working professionals can start right away. To become certified, you need to clear Part I and Part II exams and complete two years of relevant full-time work experience. With its global recognition and practical industry focus, the eligibility for FRM course not only sharpens your knowledge of financial markets and risk models but also significantly boosts long-term career prospects.
What Is FRM?
The FRM certification (Financial Risk Manager), offered by GARP, is globally recognized as the gold standard in risk management. It equips finance professionals with the expertise to identify, measure, and manage financial risks, making it highly relevant in today’s volatile markets. What sets FRM apart is its global acceptance—whether you aim to work in banking, investment firms, insurance, consulting, or regulatory bodies, this credential adds strong credibility to your profile. Beyond technical skills, it signals to employers that you are serious about risk management as a career, opening doors to senior roles and lucrative opportunities in the financial sector.
FRM Course Details
The Financial Risk Manager (FRM) certification, offered by the Global Association of Risk Professionals (GARP), is a globally recognized qualification for those aiming to specialize in financial risk management. It equips professionals with the skills to identify, assess, and manage risks in areas such as banking, investment, insurance, and consulting.
One of the key advantages is that FRM eligibility is flexible—graduates and even final-year students can begin their journey, making it an accessible yet highly respected certification. Below is a quick snapshot of all the important course details
| Category | Details |
|---|---|
| FRM Full Form | Financial Risk Manager |
| FRM Course Level | 2 Levels and Certification |
| FRM Course Duration | 1-2 Years |
| FRM Exam Conducting Body | Global Association of Risk Professionals (GARP) |
| FRM Course Exam | FRM Part 1, FRM Part 2 |
| FRM Eligibility | After Graduation |
| Difficulty Level (Passing %) | 45% for Part I and 63% for Part II |
| FRM Fees | ₹1,20,000 – ₹2,00,000 |
| FRM Area of Employment | Financial services industry, Risk management within banking institutions, Investment firms, Asset management companies, Insurance firms, and Consulting firms |
| FRM Exam Format | Computer-Based |
| FRM Job Profile | Risk Manager, Regulatory Risk Analyst, Risk Specialist, Financial Analyst, Credit Risk Analyst, Treasury Manager, and Portfolio Manager |
| FRM Average Salary | ₹9 Lakhs – ₹12 Lakhs |
| Top Hiring Firms | PWC, JP Morgan Chase, Consulting Firms, and ICBC |
FRM Eligibility Criteria
Before you start your journey toward becoming a Financial Risk Manager (FRM), it’s important to understand the eligibility requirements set by GARP. The good news is that the program is quite flexible, making it open to graduates and working professionals from a wide range of academic and professional backgrounds.
While a bachelor’s degree is recommended, candidates from disciplines like finance, economics, statistics, engineering, or even non-finance fields can apply. What matters most is an interest in risk management and a commitment to clearing the two levels of the FRM exam. Along with educational qualifications, relevant work experience plays a key role in obtaining the certification.
| Criteria | Details |
|---|---|
| Educational Qualification | Bachelor’s degree (any discipline). No specific specialization required; finance, economics, or statistics backgrounds may align better. |
| Work Experience | Minimum 2 years in roles like risk analysis, risk management, trading, consulting, or financial modeling. |
| Waiver Policy | Candidates with a Master’s degree (finance, economics, risk management, or related fields) can reduce work experience requirement to 1 year. |
| Who Can Apply? | Final-year students, fresh graduates, and professionals from various fields aiming for a career in risk management. |
Who Should Pursue the FRM Course?
The FRM course is designed for those who want to build a strong career in financial risk management. Whether you’re already in the finance industry or just starting out, this certification equips you with globally recognized skills to identify, assess, and manage risks effectively. Here’s who can benefit the most:
| Category | Why FRM Is Beneficial |
|---|---|
| Risk Managers | Ideal for those in banks, financial institutions, or corporates. Enhances decision-making and risk assessment skills. |
| Finance Professionals | Suited for careers in investment banking, asset management, trading, or portfolio management. Builds expertise in market risk. |
| Students & Graduates | Great for fresh graduates interested in finance or risk. Demonstrates commitment and opens doors in banks, consulting, and regulatory sectors. |
When to Do the FRM Course?
Timing plays a big role in making the most out of your FRM journey. Since the certification requires both exams and work experience, planning when to start is just as important as preparing for the syllabus. Here are a few key factors to consider:
1. Work Experience
While you can register for the FRM exams right after graduation, you’ll need two years of relevant full-time work experience to earn the certification. Starting your preparation alongside a job in finance or risk-related fields can be a smart move, as it helps you apply theory directly to real-world scenarios.
2. Exam Dates
The FRM Part I and Part II exams are conducted twice a year — in May and November by GARP. Deciding when to sit for the exam should depend on how much time you need for preparation. Creating a balanced study plan, aligned with your work or academic schedule, ensures you cover the syllabus without feeling rushed.
2025 Exam Dates:
2025 Exam Dates:
- May Window: May 10-23, 2025
- August Window: August 9-22, 2025
- November Window: November 15-28, 2025
3. Career Aspirations
Think about your long-term goals. If you aim to move into risk management, trading, portfolio management, or regulatory roles, starting the FRM course early can give you an edge in the job market. The earlier you plan, the sooner you can leverage the certification for career growth.
FRM Certification Process
Earning the Financial Risk Manager (FRM) certification, offered by GARP, involves a structured process that blends exams, work experience, and ongoing professional development. Here’s a clear breakdown of how candidates can achieve the FRM designation:
Step-by-Step Process
- Register for GARP Membership & FRM Part I Exam
- Create a registration ID using the “New Candidate” option.
- Pay the FRM fees to activate your account.
- Create a registration ID using the “New Candidate” option.
- Book Your Exam Slot
- Once the payment is complete, you’ll gain access to your GARP account.
- Choose your exam date and location (GARP conducts exams in 100+ cities worldwide).
- Once the payment is complete, you’ll gain access to your GARP account.
- Access Study Materials
- Study resources are available through your GARP account.
- Materials include official books, practice papers, and study guides.
- Note: FRM books must be purchased separately in addition to exam fees.
- Pass FRM Part I
- Candidates must clear Part I before attempting Part II.
- If both exams are taken on the same day, Part II will only be graded if Part I is passed.
- Candidates must clear Part I before attempting Part II.
- Pass FRM Part II (within 4 years)
- After clearing Part I, you have 4 years to successfully complete Part II.
- After clearing Part I, you have 4 years to successfully complete Part II.
- Complete 2 Years of Work Experience
- Submit proof of two years of full-time, relevant work experience in risk management, finance, or related fields.
- This must be completed within 5 years of passing Part II.
- Submit proof of two years of full-time, relevant work experience in risk management, finance, or related fields.
- Get Your Certification:
- Once exams and work experience requirements are met, GARP awards you the FRM designation.
- To maintain its value, professionals are encouraged to pursue Continuous Professional Development (CPD).
- Once exams and work experience requirements are met, GARP awards you the FRM designation.
FRM Exam Pattern & Syllabus
The Financial Risk Manager (FRM) Exam, conducted by GARP, is divided into two rigorous levels – Part I and Part II. These exams are designed to test a candidate’s knowledge, analytical skills, and ability to apply financial risk management concepts in real-world scenarios.
FRM Exam Pattern
- FRM Part I: Focuses on the fundamentals of risk management. It includes four major areas: Foundations of Risk Management, Quantitative Analysis, Financial Markets & Products, and Valuation & Risk Models.
- Exam Format: 100 Multiple Choice Questions (MCQs)
- Duration: 4 Hours
- Exam Months: May, August, November
- Exam Format: 100 Multiple Choice Questions (MCQs)
- FRM Part II: Builds on Part I and emphasizes the practical application of risk management techniques in areas like Market Risk, Credit Risk, Operational Risk, and Investment Management.
- Exam Format: 100 Multiple Choice Questions (MCQs)
- Duration: 4 Hours
- Exam Months: May, August, November
- Exam Format: 100 Multiple Choice Questions (MCQs)
| Exam Part | Duration | No. of Questions |
|---|---|---|
| Part 1 | 4 Hours | 100 |
| Part 2 | 4 Hours | 100 |
FRM Syllabus
The FRM syllabus is divided into two parts, covering both the core principles of financial risk management and advanced applications. It ensures candidates gain both theoretical knowledge and practical insights into real-world risk challenges.
| Part | Topics | Weight (in %) |
|---|---|---|
| Part 1 | Foundations of Risk Management | 20 |
| Quantitative Analysis | 20 | |
| Financial Markets and Products | 30 | |
| Valuation and Risk Models | 30 | |
| Part 2 | Market Risk Measurement and Management | 20 |
| Credit Risk Measurement and Management | 20 | |
| Operational Risk and Resiliency | 20 | |
| Liquidity and Treasury Risk | 15 | |
| Risk Management and Investment Management | 15 | |
| Current Issues in Financial Markets | 10 |
FRM Fees
The enrollment fee is paid only once, while exam fees are charged separately for Part I and Part II.
Repeat candidates don’t need to pay the enrollment fee again, only the exam fee.
Total FRM cost in India usually falls between ₹2.5–3.5 lakhs, depending on study resources and coaching.
| Particulars | Fees (Approx.) |
|---|---|
| One-time Enrollment Fee | ₹35,000 |
| Exam Registration (Early) | ₹52,000 |
| Exam Registration (Standard) | ₹70,000 |
| Exam Registration (Late) | ₹87,000 |
| Study Material | ₹17,000 – ₹44,000 |
| Coaching (Optional) | ₹30,000 – ₹75,000 (per part) |
The FRM course cost includes a one-time enrollment fee, exam registration for each part, study materials, and optional coaching. Here’s a breakdown:
Study FRM in India vs. Abroad
| Aspect | FRM in India / Abroad |
|---|---|
| Availability of Training | Ample study materials, coaching centers, and online courses / Access to global resources and prestigious institutes |
| Cost of Study | More affordable / Generally higher costs |
| Language of Instruction | English / English |
| Networking Opportunities | Local events and conferences / International events and broader exposure |
| Study Resources | Wide range of local and online options / Premium, high-quality global materials |
Aspirants often face the dilemma of whether to pursue the FRM course in India or abroad. Both options have their own advantages, and the choice depends on your career goals, budget, and exposure expectations. Here’s a comparative view:
Benefits & Career Impact
| FRM Job Profiles in India | Average Salary (₹ Lakhs per annum) |
|---|---|
| Risk Manager | 15 – 20 |
| Financial Analyst | 10 – 15 |
| Credit Risk Analyst | 12 – 18 |
| Treasury Manager | 18 – 25 |
| Portfolio Manager | 20 – 30 |
- Global Recognition & DemandThe FRM designation is considered the “gold standard” for risk professionals, with strong demand and credibility in the industry.
- Career Roles & Salary OutlooksFRM Salary in India: Earning the FRM certification significantly enhances career prospects in financial risk management. Certified professionals are highly sought after in roles like Risk Manager, Financial Analyst, Credit Risk Analyst, Treasury Manager, and Portfolio Manager. Salaries reflect both the demand and the expertise required in this domain.
Benefits & Career Impact
- Global Recognition & DemandThe FRM designation is considered the “gold standard” for risk professionals, with strong demand and credibility in the industry.
- Career Roles & Salary OutlooksFRM Salary in India: Earning the FRM certification significantly enhances career prospects in financial risk management. Certified professionals are highly sought after in roles like Risk Manager, Financial Analyst, Credit Risk Analyst, Treasury Manager, and Portfolio Manager. Salaries reflect both the demand and the expertise required in this domain.
| FRM Job Profiles in India | Average Salary (₹ Lakhs per annum) |
|---|---|
| Risk Manager | 15 – 20 |
| Financial Analyst | 10 – 15 |
| Credit Risk Analyst | 12 – 18 |
| Treasury Manager | 18 – 25 |
| Portfolio Manager | 20 – 30 |
FRM Salary Abroad
Globally, FRM-certified professionals enjoy excellent pay packages. Salaries differ by country, depending on the financial market demand and cost of living.
| FRM Salaries Abroad | Average Salary |
|---|---|
| USA | $110,000 – $150,000 |
| UK | £75,000 – £80,000 |
| Canada | CAD 120,000 – CAD 125,000 |
| UAE | AED 60,000 – AED 63,000 |
| Australia | AUD 145,000 – AUD 150,000 |
FRM with Fintelligents
Fintelligents simplifies your FRM journey with expert faculty, structured study materials, and flexible learning modes. Their interactive sessions, doubt-solving support, and progress tracking ensure you master complex concepts with ease. With the right guidance and a supportive community, Fintelligents helps you clear FRM confidently and unlock global career opportunities in risk management.
Conclusion
If you were unsure about the path to certification, this blog should clear it up. The FRM eligibility and exam guide proves that there are no barriers to entry—you can register without a degree or experience. The real test comes later, when you validate your knowledge through exams and prove your expertise with work experience. FRM isn’t just another finance credential—it’s a career accelerator for anyone serious about risk management.
FAQs
Can I take Part II on the same day as Part I?
No. You must pass Part I first.
What counts as relevant work experience?
Full-time roles in risk analysis, risk management, or related fields.
How much time do I have to submit my work experience?
You have up to 10 years after passing Part II.
What is the exam format and duration?
Both exams are 4-hour CBT multiple-choice papers.
In which language is FRM offered?
Globally in English, with a Chinese version launching in Mainland China starting November 2025.
When are FRM exams conducted?
Three times a year: May, August, November.
