Just received my FRM Certificate!
- Thread starter vjrao
- Start date
chiyui
Member
I still haven't received it yet, it's been about 1 month already......
I'm from Macau, and I've heard a lot of Hong Kong people in many internet forums saying that FRM is of no use to find a risk or analytic-related job in banks or ibanks or fund houses or sth like that in Hong Kong......let alone Macau (becoz there's no such job positions in Macau!)
Sigh, I wanna get such kind of job too and don't mind going to HK for this......
I don't know either......
I'm from Macau, and I've heard a lot of Hong Kong people in many internet forums saying that FRM is of no use to find a risk or analytic-related job in banks or ibanks or fund houses or sth like that in Hong Kong......let alone Macau (becoz there's no such job positions in Macau!)
Sigh, I wanna get such kind of job too and don't mind going to HK for this......
that's suck..... spend money on something of no use
chiyui
Member
But I can tell you that the same comment prevails in the case of CFA.
Those guys in the Hong Kong internet forums also mention that CFA is useless in finding an analyst job in banks/ibanks/funds/other institutions.
The most common reason is, CFA has been over-saturated already. Too many people take the CFA exam. Any guys on the earth is a CFA holder, just any guys. And the same argument prevails in FRM.
But well, none of them provides an official statistics of the true CFA/FRM population in Hong Kong. So it's not easy to judge their reliability......
But I'm sure that the CFA population must be far larger than the FRM population in Hong Kong. That's why I don't feel like taking CFA exam at this moment (unless if I wanna take the Society of Actuary (SOA) exam becoz a CFA part 1 and 2 holder can qualify some requirements of the SOA exam)......
Disclaimer: I'm a Certified FRM......
Yes (many people from forum) they are right these exams clearing cant find you a job in Hong Kong because if u take the job in Risk Analytics of an iBank is u shud either be MFE or something else like CQF but nothing can be guaranteed. I have also seen people in India also those are clearing these exams and not getting a job. So u cant blame the exam for that they are giving you the basic understanding how industry works. Something else in the industry goes on see we study Black Scholes Merton Model in basic format but that is not used anymore (this has been confirmed by my cousin who is working in a Citadel Investments). So these certifications just give you platform u have to build the things and look for the courses like actuary but certain parts of it becuase it is heavily skewed towards Insurance. But clearing itself is a achievement in terms of certain CTs. So try hard or may be get into back office and then move on to Front office I knw it is hard to do but it is better option than not working in a iBank. Choice u have to make my friend...
chiyui
Member
Mainpoint: CQF requires a costly £12,500.
A Master of Financial Engineering also requires similar or even more costly expenses.
Of course I know what you're saying is the reality but......who doesn't know a mother is a woman?
If one can enter into an ibank for even just a job position as an insignificant role, he/she could get USD4000-5000 a month. Having this amount of salary can of course pay these kind of high fees for a really useful qualification in a near future. So I wanna know how can one get into back office as you mention about? I don't mind to work for this, I used to endure boring work anyway.
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