FRM vs PRM

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oldmonk

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The things which I have gathered from this forum till now:
FRM is currently more popular but PRM is catching up
PRM can be broken down in to 4 exams which is a big plus.
PRM has more quant than FRM and FRM focuses more on risk management
PRM is cheaper in terms of exam and membership fees.
Anything else which could help me decide between the two?
I work in institutional asset consulting and hoping to get a break in to ER or PE. Just took my CFA level 1.
 
I just made the choice to do PRM and after reading the study material I am much happier.
PRM is more real-life situations where as FRM is more academic
PRM has no required membership fees; FRM is an annuity; you pay for the rest of your life for a certification that’s not well known.
DO PRM!
 
PtrainerNY Wrote:
——————————————————-
> I just made the choice to do PRM and after reading
> the study material I am much happier.
>
> PRM is more real-life situations where as FRM is
> more academic
>
> PRM has no required membership fees; FRM is an
> annuity; you pay for the rest of your life for a
> certification that’s not well known.
>
>
> DO PRM!
But isn’t FRM more well known than PRM within the industry. I spoke to a few people at work and nobody has heard of PRM but they know about FRM. Also, I know a few guys who have taken FRM but none or PRM.
Is PRM still at it early stages…
 
PtrainerNY Wrote:
——————————————————-
> I just made the choice to do PRM and after reading
> the study material I am much happier.
>
> PRM is more real-life situations where as FRM is
> more academic
>
> PRM has no required membership fees; FRM is an
> annuity; you pay for the rest of your life for a
> certification that’s not well known.
>
>
> DO PRM!
But isn’t FRM more well known than PRM within the industry. I spoke to a few people at work and nobody has heard of PRM but they know about FRM. Also, I know a few guys who have taken FRM but none with PRM.
Is PRM still at it early stages…
 
i’ve studied both curriculums - just chose not to take the FRM exam because i got what i wanted out of PRM - no need for a 2nd cert.
PRM curriculum is much better. the PRM handbook is amazingly well written (if you give it respect and read it 2-3 times until you understand everything). they embed links for spreasheets you can use, i felt i could build my own risk mgmt system after completing the course. can’t say same for FRM - left me feeling like an employee of some sort who would need a boss to use the skills. PRM felt like training for entrepreneurship. unconventional way of looking at it, but really, thats how practical it was.
study both, like i did, and flip a coin about which test to take.
 
the best thing abt PRM take it any business day and know your results instantly … only 36 questions for exam 1 and they give you 2 hours … if you fail … take it next week … and costs only $50 …. 60% pass marks … I just registered … for PRM ….. i have been researching for FRM and PRM for last few days… i found PRM to be more candidate friendly but syllabus and difficulty are comparable … probably next 6 months I will take exam 1 and 2
 
no you do not get results immediately after test. you wait 2-3 weeks.
 
thank u for the correction…
how is the PRM exam … should I need anything other than the Handbook
 
About to take Exam 4 in a 2 weeks. Reading the material and seeing what’s going to happen :-)
 
you can probably take exam 4 tomorrow if you start studying now, and still get 80+.
:)
 
Can anyone answer my query below abt PRM? This is regarding waiver of exam I and II for CFA charterholder…
If I pass level III and IV but skip I and II now… and say I take another 3-5 years to get my CFA, can I come back to PRMIA 5 years later with my CFA charterholder and claim PRM designation? I read that the 4 levels in PRM must be cleared max up to 2 years but what about my situation (in the case where i just take III and IV and wait till i get CFA before i claim PRM). Will my PRM results for III and IV expire by then?
 
There seems to be a lot of support for PRM out there.
But does anybody here feel that after getting the designation one still has to work hard on explaining about PRM to potential employers and workmates.
I seem to draw blank stares when I mention PRM which isn’t the case for FRM.
Also, the fact that PRM does not have any membership fee. Not sure how long can that last. Wouldn’t any professional body need money to upgrade the material, promote itself etc.
Can PRM doesn’t keep up the study material with the latest devlopments in the market etc. just by charging exam fees.
 
The following two links give a fairly good comparison and a viewpoint between FRm and PRM:
http://www.siegert-partner.de/GARP_PRMIA/GARP_vs_PRMIA.htm
http://www.bionicturtle.com/forum/viewthread/223/
I also got a chance to briefly flip thru both the FRM handbook and PRM handbook (1360 pages – not sure if this was the complete set).
From what I gather, PRM is a lot more quant orientated and target specifically towards individuals who want to work in risk management.
Whereas FRM with a lot more financial mumbo jumbo and less quant seems to be more for individuals in the broader financial industry.
I did enjoy flipping thru the PRM handbook as it seems a lot more hands on, applicable and practical material and a lot of quant. FRM handbook seems to kiss and fondle a lot of stuff and seems to give you more knowledge about various types of financial products etc. Please correct me if I am wrong here.
Personally for me, I want to work in equity research or PE/VC firms. not sureif i would enjoy a pure number crunching type of job.
My aim of taking FRM/PRM exam(s) is twofold – learn something new and add something on my resume which is at least a little attractive to a potential employer.
Also, the exemptions in PRM seem tempting. After completing CFA one I only need to take 2 exams, provided they still offer exemptions. A lot of these frills (exemptions, no annual fee) might disappear once PRMIA builds a sizeable membership base.
Based on all this, what would the higher powers on this board recommend?
 
I am still confused … yesterday i thought of registering for PRM … but I think I should cook it a little more … problem with FRM is … its damn expensive… I do not wanted to add extra burden at this point in time … I am still thinking PRM … Its just coming in my mind over and over … I have seen FRM schweser books .. and I thought with less than 6 months work I can pass… same with PRM … what is the consensus here?
 
I seem to be leaning more towards FRM at this moment.
It seems to include a wide spectrum of risk management, investment,Basel II- regulations, and alternative investment stuff. Seems more apt if you at early stages of your career and don’t know which peigon hole you will fall into.
Also, the more I ask around, the more I realise that very few people know about PRM and a lot more about FRM.
PRM material is definately a better read and I might read it in my spare time. But it does seem a lot more quant oriented and better suited if you want a more quant style role.
 
i have a personal experience that certifications are easy to do in their early years of establishment … look at CFA … ppl who have done it in past have enjoyed a better pass rate … I have also checked out the PRM handbook and personally I liked it … PRM also maintains a digital library and … 51k members… all of those are not stupid … agreed on the fact that PRM has to do a lot more to build its goodwill … lot of universities recognize it… whats your location oldmonk? as far as in middle east ppl recognize PRM …
 
madanalyst Wrote:
——————————————————-
> i have a personal experience that certifications
> are easy to do in their early years of
> establishment … look at CFA … ppl who have
> done it in past have enjoyed a better pass rate
> … I have also checked out the PRM handbook and
> personally I liked it … PRM also maintains a
> digital library and … 51k members… all of
> those are not stupid … agreed on the fact that
> PRM has to do a lot more to build its goodwill …
> lot of universities recognize it… whats your
> location oldmonk? as far as in middle east ppl
> recognize PRM …
I agree with that. PRM is in early stages and offers a lot of frills which are likely to disappear once they have a sizeable membership base.
I am in Australia and not a lot of people I have spoken to are privy to PRM. But mind you, I work in asset consulting and people working in risk management might know of it.
The other thing is that PRM offers exemptions (atleast for now) and once I complete my CFA (I just took level 1), I only have to take two exams. So it kinda feels stupid to do them now. But I do want something for my business card soon.
Let me know what you decide….theres plenty of time for the Nov exam incase you go for FRM so I think we can afford to be a little bit fickle.
 
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