Late in the morning I woke up one day with my Mom yelling at me “beta uthjao pdlo, CA Final dena he, majaak ni he” and I was like – Yes, its not a joke but its surely a devastation of my mind. Without much time to study, I took bathe, eat my Breakfast and ran hurriedly for the articleship training just to recapitulate the fact that my life is a hell and I am bound to suffer as I have opted for my parents dream called CA.
After 3-4 months of articleship when my mind was subject to accelerated Depreciation and my body about to reach the Salvage Value, I thought of starting CA Final Coaching with Mr. Sanjay Saraf- star of SFM in the CA fraternity.
As period passed by and I attended his classes whole heartedly, I realized that this is the world and this is the man who can save me from getting Brain Hemorrhage. I started conversing with “Dr” Sanjay Saraf on emails and luckily got a reply which was astonishing from a famous faculty.
As I interacted him more and more I came to know of a course called CFA which is considered as the Gold Standard in Finance and today I know why it is so called. I enrolled for it and played for CFA exams in the front foot without any fears, with my CFA books in my front pocket and my CA books in my back pocket all the times.
1.5 year passed by and suddenly after passing CFA Level 2 I realized that my brain has positive alpha, Confidence Interval is very high, my earnings will be log normally distributed and I have hedged my career.
Since my Portfolio was generating positive returns, I thought of increasing more AUM and I invested in a Finance course called FRM which was the most successful investment in my life.
But why am I discussing about these courses, am I marketing? If you think so, don’t read this article further.
2-3 years down the line, I am just introspecting the fact why CFA FRM makes a successful investment and thought to pen down my feelings.
There is something called Conscious Mind and Subconscious mind. A Conscious mind is one which takes Information- Good or Bad and a Subconscious mind works on experience. 70% of our real world performance is dominated by Subconscious mind. Lets illustrate-
Our Father has always taught us not to lie. But recollecting your childhood, when Sharma uncle used to came to your house Papa used to ask you to say “papa ghar pe nai he”. So now our Conscious mind knows that we should not lie and our subconscious mind has experienced that lying is not bad. And indeed in the real life we lie because our performance is dominated by Subconscious mind.
Similarly we all know we should not take stress while taking examinations but are we able to control our anxiety in the exam/interview even knowing that panicking will not do any good than more harm. No, that’s because subconscious mind has not experienced that atmosphere and thus we promote taking Mock exams or mock interviews.
All I want is to Reiterate the Fact that how do you perform in real life depends on your SUBCONSCIOUS MIND or I would say INTUITIVE MIND.
Exactly!!! Now I have come to a point which I would like to speak about.
CFA and FRM are two promising Certifications in the world of Finance that not only imparts a tone of information to the Conscious mind but actually do all the healthy feedings for your Subconscious mind that ensures you performing brilliantly in your career.
Given so much of Unpaid labor and Mental torture that a CA Final Student have gone through in last 16 days, I would like to talk more about a short course i.e. FRM and how it can heal their CA wounds. Let us play some Buzz Question rounds where I will question and I will answer. Ha Ha!!
1. What are the Future Prospects of FRM along with CA?
It’s like asking how Seasoning on the Pizza makes Pizza better. You know the answer right. FRM is an application based course that will open up your mind towards applying things in real life.
Working in Top IB’s like Credit Suisse, Crisil, Barclays require Knowledge of Risk management along with Financial Statements that makes CA+ FRM a cake with Cherry on Top Combination.
2. If I do FRM now, my knowledge of Financial statements which I gathered in 5 years will be waste and this pinches?
Shri Krishanji once said Knowledge gained is never wasted. Working in Credit Risk management requires detailed Credit analysis of Financial Statements, reading the annual reports and evaluating the credit worthiness, knowing the Basel norms and who knows the Financial statement better than CA. Don’t even dare to name anyone, I myself has done CA.
3. What are the Job opportunities of CA + FRM?
It’s like if you get 1 job opportunity after CA, you get 1+99 Job opportunities after CA+FRM. Whoa! What a synergy- Ok I might be exaggerating.
As I said, you will (not may) definitely land up job in Top IB. If you open Linked in and see the profiles of VPs, Presidents, Team Leads in Credit Suisse- they all are CA’s.
4. Salary Expectations after doing CA+ FRM?
With CA the average salary is 6 lacs p.a and adding FRM will make this figure double digit for sure.
5. How will I proceed with the Course?
Ok so If you are reading this question, you are getting excited – yeahh!!
You have taken CA Final in May 2016 and you have two months lefts in your results.
I would like to answer this question differently for two different audiences.
a) 1pc students who are certainly positive about their result [Did you see first word – 1pc :D]
Register for FRM exam today
Three Registration deadlines are there
– Early Registration – Fees – 650$, Deadline 31st July 2016.
– Standard Registration – Fees – 775$, Deadline 31st Aug 2016.
– Late Registration – Fees – 950$, Deadline 15th Oct 2016.
Since result will be out before 31st July, they can even wait to register but can start studying.
Studying for FRM doesn’t require any registration with exam conducting authority GARP. You just have to order Schweser Books from Om Book Centre Mumbai by calling on 9833001214, 9833591215. Now don’t think that I will get commission from Om Book Centre :D.
b) 99pc students who are uncertain about their results
Start studying. Even if you don’t succeed in CA exams unluckily, then you can start studying for FRM and take it with CA in Nov 2016 or take FRM next may 2017.
FRM part 1 Syllabus is 45% covered in CA Final SFM , so nothing much needs to be worried about taking both exams simultaneously.
6. If I pass whether to do FRM with Job or without Job?
Definitely with Job – start earning now and enjoy your life. As per GARP FRM exam requires preparation of 200 hours. So preparing with job is not tough at all.
Moreover FRM certification is very short term course with only 2 levels, conducted in both May and November like CA.
So Cost/Benefit analysis makes FRM with CA much rewarding and appealing.
7. Can I defer the exam if I am not able to handle it with job?
Ok!!! Don’t be so conservative but yes you can defer your exam once. Passing FRM is not much difficult as pass rate is on an average 45%.
8. Do I require Coaching or I can study by myself?
I said passing is easy t but yes Curriculum is little difficult to master since it requires Practical Modeling Skills, so coaching may be required.
9. Whom can I contact for further guidance?
Contact Karan Aggarwal at 9780564549 or Sanjay Saraf at email@example.com
Please don’t go, let me say my Last words
“You determine how far you go in life, nobody else” and
remember that FRM will train your Subconscious Mind and carve out a beautiful mind of yours.