FRM Salary | India | USA | UK | Singapore | Top Employers

FRM Salary

The Financial Risk Manager exam is a globally acknowledged designation awarded by the Global Association of Risk Professionals (GARP), which equips professionals with financial risk assessment and risk management skills. The primary focus of FRM is on helping professionals become acquainted with the principles of managing market risk, credit risk, and liquidity risk along with non-market financial risks. FRMs constitute an exclusive global community of nearly 30,000-strong GARP professionals, a majority of them working with some of the top employers in the financial industry. FRM-qualified professionals usually have much better compensation than their non-credentialed counterparts, bringing added value to the designation.

A wealth of information is readily available about the prerequisites, exam details, and exam preparation strategies for FRM. However, there is comparatively scarce information available on salary packages, bonuses, and overall trends related to financial compensation for FRM-qualified professionals. In this article, we would be solely focusing on the monetary prize for the benefit of the readers.

FRM Salary

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Significance of FRM Certification

Though we have already provided information in brief on FRM, it would be essential to dwell on the significance of this designation to understand how it helps shape a financial career, which ultimately decides what kind of compensation one receives. FRM is a highly specialized risk management designation that helps acquire the necessary skills and knowledge of risk management in specific areas. It is this technical nature of the title which makes it such a potentially rewarding designation in terms of financial growth.

Average FRM Certification Salaries in the US

The average salary for a Financial Risk Manager is $102,393 in the US.

FRM Certification Salary 2021

source: Payscale

FRM Salary Ranges by Career Role in the US:

  • Risk Analyst: Average annual salary stands at $78,000
  • Credit Risk Manager: Average annual salary – $93,000
  • Vice President, Finance: Average annual salary – $128,000
  • Quantitative Analyst: Average annual salary – $98,000
  • Financial Analyst: Average annual salary – $59,000
  • Chief Risk Officer (CRO): Average annual salary – $ 200,000

Average FRM Salaries in the UK

The average wage for Financial Risk Managers in the UK is £62,149.

FRM Salaries in the UK

source: Payscale

FRM Certification Salary Ranges by Career Role in the UK:

  • Risk Manager: Average annual salary stands at £56,000
  • Risk Analyst: Average annual salary – £40,000
  • Credit Risk Manager: Average annual salary – £65,000
  • Quantitative Analyst: £63,000
  • Risk Management Analyst: £46,000
  • Chief Risk Officer (CRO): £126,000

Average FRM Salaries in Singapore

The average salary for a Financial Risk Manager in Singapore is S$95,394.

FRM Salary - Singapore

source: Payscale

FRM Salary Ranges by Career Role in Singapore:

  • Risk Manager: Average annual salary stands at S$113,000
  • Risk Analyst: Average annual salary – S$45,200
  • Credit Analyst: S$65,200
  • Quantitative Analyst, Risk: S$85,000
  • Business Analyst, Finance/Banking: S$78,000
  • Credit Risk Analyst: S$69,000

Average FRM Salaries in India

The average salary for a Financial Risk Manager in India is ₹1,174,397.

FRM - Salary - India

source: Payscale

FRM Certification Salary Ranges by Career Role in India:

  • Risk Analyst: Average annual salary – INR590,000
  • Senior Risk Manager: Average annual salary stands at INR2,000,000
  • Risk Manager: Average annual salary stands at INR1,000,000
  • Credit Analyst: Average annual salary stands at INR800,000
  • Credit Manager: Average annual salary stands at INR860,000
  • Chartered Financial Analyst (CFA): INR700,000

Geographically speaking, FRM Certified professionals might explore some of the best professional growth opportunities in the US, UK, Hong Kong, Singapore, and China, along with other locations. It may not be so easy to pinpoint the kind of money a financial risk manager stands to earn as it depends on many relevant factors, including the industry experience a financial risk manager has. Academics can also have a role to play in deciding how much a professional stands to earn.

A comparison of the FRM certification salary from provides us with different figures. The salaries could be different because the average salary is for the job that matches the keyword “FRM.” This means that these are salaries offered for new job posts, not salaries that risk managers earn in their current jobs.

FRM Salary -


Other factors that might influence remuneration could include geographical location and the size of an employer, among other things.

Famous Career Roles for FRM Professionals

Some of the renowned professional’s roles fit for FRM certified professionals include several specialized Financial Manager and Financial Analyst or related positions. Some of these are

  1. Financial Manager
  2. Risk Qualification Manager
  3. Corporate Risk Director
  4. Risk Management Analytics Consultant
  5. Regulatory Risk Analyst
  6. Analytics Client Consultant
  7. Operational Risk Analyst
  8. Credit Risk Specialist
  9. Enterprise Risk Manager
  10. Large Enterprise Commercial Risk Manager.

Each of these career roles offers varying work opportunities and remuneration, as well as growth prospects, which might differ significantly. Again, a lot depends on the employer and what kind of growth prospects are available to an individual. Next, we will try to understand what kind of employers root for FRM-certified professionals and why.

What Kind of Employers Look for FRM Professionals

FRM is more of a specialized certification, as we have already discussed, which is aimed at helping professionals acquire an in-depth understanding of various forms of financial risksVarious Forms Of Financial RisksFinancial risk refers to the risk of losing funds and assets with the possibility of not being able to pay off the debt taken from creditors, banks and financial institutions. A firm may face this due to incompetent business decisions and practices, eventually leading to more, including potential credit risk, operational risk, liquidity risk, and market risk along with non-market financial risks. It must be remembered that financial institutions and banks have to deal with these forms of trouble regularly, which is why they are always looking to hire professionals with requisite knowledge and skillset, making FRM a preferred choice of risk management credential. On a broader level, risk management has acquired a whole new meaning in the post- 2008 era where banks and financial institutions realized how things could go wrong despite the best of capabilities in financial management and underlying risks need to be managed with a higher level of finesse.

No wonder banks and financial institutions were almost forced to reassess their priorities and give risk management its rightful place under the sun. As a result, the demand for risk management professionals is on the rise, and most high-profile employers prefer to hire accredited professionals. They enjoy a higher level of credibility in their eyes. FRM being one such specialized credential, its value has naturally gone up with time, and some of the top employers for FRM include asset management firms, investment banks, government agencies, corporations, global financial services firms, and auditing firms, among others.

Top FRM Employing Industries

Here is a list of the leading industries which employ FRM certified professionals:

Top FRM Employers Across Industries 

Here are some of the top employers from different industries that regularly employ FRM-certified professionals for their risk management capabilities.

S. No. Top Companies Top Global BanksTop Global Hedge FundsTop Global Asset Management FirmsTop Global Insurance Companies
     1.ICBCICBCBridgewater AssociatesBlackRockAXA Equitable
     2. HSBCChina Construction Bank CorporationMan GroupSSgAAllianz
     3. Bank of ChinaJPMorgan Chase & CoBrevan Howard Asset ManagementFidelity InvestmentsMetlife Inc.
     4. PwCBank of ChinaOch-Ziff Capital Management GroupVanguard GroupPrudential
     5. UBSHSBC HoldingsBlueCrest Capital ManagementJ.P. Morgan Asset ManagementAIG
     6. CitiWells Fargo & CoJ.P. MorganPIMCOGenerali Group
     7. KPMGAgricultural Bank of ChinaCredit SuisseBNY Mellon AssetLegal & General Group
    8. Agricultural Bank of ChinaBNP ParibasBlackRockCapital Research & Management CoAviva
    9. Ernst & YoungBanco SantanderAmundiManulife
  10. Deutsche BankGoldman SachsGoldman SachsAEGON
  11. Standard Chartered BankCitigroupPrudential FinancialCNP Assurances
  12. Credit SuisseItaú Unibanco HoldingDeutsche Asset ManagementBerkshire Hathaway
  13. DeloitteBanco do BrasilAXA Investment ManagersZurich Insurance
  14. JP MorganBarclaysBNP ParibasPing An
  15. BarclaysMitsubishi UFJ Financial GroupLegg Mason Inc.
  16. SamsungBanco BradescoFranklin Templeton Investments
  17. INGCrédit AgricoleNorthern Trust
  18. Bank of CommunicationsSumitomo Mitsui Financial GroupWellington Management
  19. Bank of AmericaBanco Bilbao Vizcaya ArgentariaInvesco
  20. BBVAUBSMetLife Inc.
  21. Westpac Banking Corporation
  22. Groupe BPCE
  23.  Sberbank of Russia
  24. Bank of Communications
  25. Société Générale

FRM certified are also recruited by top Global Professional Service Firms including PricewaterhouseCoopers, Deloitte & Touche, Ernst & Young, KPMG

FRM offers some of the most pleasing career prospects, and growth opportunities are immense depending on the skillset, knowledge, academics, and professional experience of a professional.

The most critical question that remains to be addressed is how you put the FRM salary information for professionals made available here or elsewhere. The whole point of the discussion is that before choosing FRM as a certification program, it would be essential to understand what career prospects it might offer. Significantly, if one has in mind the kind of career role for which they are planning and preparing, this kind of specific information can help decide if FRM would be a suitable choice of certification to prepare for a particular role of career and what sort of remuneration one might expect on completion of the certification program. These can be useful pointers and have a direct impact on the choice of career path and certification, which usually go hand in hand.

As a general rule, higher academics and a fair amount of professional work experience are some of the prerequisites to carve out a successful career in financial risk management and related roles after completing FRM.

Reader Interactions


  1. Jeffrey Almeida says

    Thanks a lot for giving a detailed article on FRM Salary. This has really helped me a lot and was quite helpful also. Al though I have a small question. Is that necessary to have work experience before giving the FRM Exam?

    • Dheeraj Vaidya says

      Thanks and I am very happy that this helped you. There is no educational or professional prerequisites to sit for either part of the FRM Exam. All the Best!!

  2. Peter Gomes says

    Thanks for providing such useful knowledge on FRM through your blog. I found all of the things which I want to know it may be about finance or any other related field; I can find it here on your website thanks and keep on writing. I do have a small question. And the question is Can I register to sit for the FRM Part 1 and Part 2 on different dates?

    • Dheeraj Vaidya says

      Many Thanks. I am glad you found my website useful. Well, the answer for your question is actually NO. First, you need to understand that a candidate can only register for FRM Part 2 Exam only after they have passed Part 1 exam successfully. There is also another way i.e you can register to sit for both the parts on the same day. Hope this helps.

  3. Sarvesh Mopkar says

    Can a CFA do the job of an FRM ? If yes, why would anyone hire an FRM ? Any more specific distinguishing features?

    • Dheeraj Vaidya says

      It is not necessary that CFA charterholders should be able to do the job of an FRM. FRM is all about in-depth risk analysis (while CFA doesn’t touch risk is detail).

  4. obulreddy says

    what are qualification for doing frm

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