FRM Vs. CAIA

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SalZ

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Friends,
I was recently laid off and I am given the “honor” to file for education reimbursement that is valid for 2 years (so essentially I have to pass the eligible curriculum/test I file for within 2 years). I am a Level 2 CFA candidate for June 2009 and I have heard comments on other boards about how nicely FRM fits in right after Level 2 CFA.
Now I am checking CAIA out but just wondering what makes more sense. This forum doesnt sound too optimistic about the value of CAIA with the high pass rates and the HF sector in a conundrum.
What would you look at if you were in my position. I am not even sure if Ill take the test but if I get bored after Level 2 and with not being currently employed (I hope this doesnt happen), I would like to work towards something but thought Id throw it out here for your opinion.
Thanks in advance.
 
Take the FRM… This will keep you busy most of the year and hope you have a the certifications when the bull season comes back.
 
Hi SalZ,
I think it depends on what you are looking for and your available resources in terms of money and time. I was also laid off last September. I passed the 2008 FRM exam and I finished CFA level III last year. I am currently working on CAIA level I and CIPM principle exams. I had some struggle with the former in the beginning due to the costs but I found their materials are quite interesting and level II could be even better. I agree the FRM could make you quite busy for the year but CAIA is also a good credential to have. Well, none of the certification will guarantee any job offer but I think taking exam is a very productive and economically use of time…
Please see my comments posted under another CAIA level I: http://www.analystforum.com/phorums/read.php?19,901571
Philip
 
SalZ,
About a month after I finish the CFA Level III last year. I would say I spent around time after work and weekend for July, Aug, Sept and (two weeks break after laid off.) 1 full month studied full-time (Oct 15 - Nov 15). (I spent like 90% of time on CFA level III before June). CFA level II is a difficult level. But you can study full-time after CFA level II.
Philip
 
In 2007, CAIA was the way to go.
Now there is lots of uncertainty about the viability of PE firms and HF etc.
There are 2 possible scenarios …
1) With IBs dead, HFs will roar back and they will dominate, lifting CAIA.
2) HF/PEs will be finished like .com tech companies and CAIA will be dead.
So CAIA faces a big uncertainty ahead.
FRM is a safe bet, however it is unglamorous with a geekish image.
 
I think these are all good thoughts.
It’s my believe, that FRM stands to profit independent of any PE/HF development. Managing risk will, in my opinion, likely become more important given the current focus on regulation. And if regulation doesn’t hit as hard as I expect it, many firms may focus more on risk management than before, just to make sure they don’t repeat some of the past mistakes, at least for a while.
 
I may be off base here, but would a CIAI be considered a good follow up to CFA-L1 and a FRM be a good follow up to CFA-L2?
 
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