FRM Jobs and Salary: What Can You Earn After Certification?

Kateryna Myrko
Oct 12
4 min read

The FRM® (Financial Risk Manager) credential signals that you can measure, monitor, and manage financial risk across market, credit, liquidity/treasury, and operational domains. It’s valued in banks, asset managers, insurers, regulators, fintechs, and consulting—anywhere risk, capital and liquidity drive decisions. Below is a clear view of the roles FRM holders move into, how compensation is structured, and realistic salary ranges in major markets.

Where FRM professionals work (and what they do)

Early career (0–3 years): Risk/credit analyst, market risk analyst, liquidity reporting analyst, model risk associate, risk data/analytics. You’ll clean and interpret data, build dashboards, calculate VaR/ES or expected loss, and draft control evidence.

Mid career (3–7 years): Risk manager (market/credit/liquidity), counterparty credit risk, treasury/ALM, stress testing, model validation, operational risk & resilience. You’ll own risk metrics, challenge front-office proposals, refine models, and present to committees.

Senior (8+ years): Head of Market/Credit Risk, Treasury ALM lead, Enterprise Risk, Chief Risk Office track, or risk advisory/consulting leadership. You’ll set risk appetite, oversee frameworks (e.g., liquidity and capital), and negotiate with regulators.

How compensation works FRM Jobs and Salary

Most risk roles pay base + annual bonus, with long-term incentives appearing as you move up. Base tracks responsibility and market (city/sector), while bonus tracks business performance and model/policy milestones. Risk bonuses are typically lower and less volatile than trading/IB roles, but rise with seniority and scarcity (e.g., CCP risk, structured credit, XVA, model risk). In exceptional shops (HFT, top sell-side “material risk taker” bands), total compensation can be very high, but those are outliers compared with mainstream risk roles. FRM Jobs and Salary

Global salary snapshot (typical mid-career)

The table shows indicative total compensation (base + bonus) for common roles. Ranges reflect city/firm size and role scope.

Role (mid-career)	United States (USD)	United Kingdom – London (GBP)	Singapore (SGD)	India (INR)
Market/Risk Analyst	$90k–$140k	£45k–£65k	S$70k–S$90k	₹9L–₹14L
Credit Risk Analyst	$100k–$150k	£50k–£70k	S$75k–S$95k	₹11L–₹14L
Risk Manager	$130k–$200k	£80k–£110k	S$110k–S$160k	₹18L–₹30L
Senior Risk Manager / Team Lead	$180k–$280k	£110k–£160k+	S$160k–S$230k	₹30L–₹45L

Why these bands: In the U.S., BLS reports a median of ~$106k for financial risk specialists (all levels), with private-sector data showing higher mid-career figures and six-figure risk manager averages; London risk managers cluster around £80–95k, with analyst roles around the £50k mark; Singapore risk analysts often earn ~S$5k–6k monthly (plus bonus), while risk managers are commonly six-figure SGD.

Tip: Use these as ballpark numbers. Your offer depends on product complexity (derivatives vs. retail), platform (sell side, buy side, fintech, captive), local competition, and whether you’re in a control function (model risk, treasury policy) or a revenue-adjacent risk role.

What the FRM does for your pay

Differentiates your CV at screening for risk roles, especially when paired with relevant experience (e.g., exposures, backtesting, liquidity metrics).
Raises ceiling in model-heavy or governance roles: hiring managers value candidates who can defend assumptions, design stress tests, and translate findings for senior committees.
Comp compounds with scope: your strongest pay jumps happen when you own bigger books, broader frameworks (LCR/NSFR, CCR), or direct reports—not just with an extra year of tenure.

Sectors that pay at the top of band

Markets-heavy sell side: Trading-adjacent risk (rates/FX/credit, structured products, XVA).
Clearing/CCP & treasury/ALM: Scarce skill sets in liquidity, collateral, and balance-sheet risk.
Model risk & validation: High demand for independent challenge across pricing and risk models.
Consulting (risk advisory): Higher variance; premium projects and utilization drive bonus.

How to move up the range (practical levers)

Quant + communication: Pair clean mechanics (EL, CVA, VaR/ES, LCR/NSFR) with crisp memos and decks. Senior stakeholders pay for clarity under uncertainty.
Own something measurable: A desk’s risk report, a backtesting framework, a collateral optimization pilot—scope powers comp.
Be “bilingual”: Speak both model and business—link risk metrics to P&L, funding, and limits.
Geo & platform arbitrage: Same skill set pays differently across locations and platforms; consider a strategic move (e.g., regional hub, larger balance sheet, or product-rich franchise).
Credential stack: FRM plus targeted add-ons—Python/SQL, a fixed-income or derivatives course, or an MFE/FRM+CPA blend for certain tracks—can unlock niche bands.

Career outlook

Risk hiring stays resilient because regulators and boards demand robust models, data lineage, and resilience planning. In the U.S., the broader “financial analysts” family is projected to grow over the decade, and “financial risk specialist” pay sits in six-figure territory with room to scale in major metros and complex products. Similar dynamics hold in London and Singapore, where capital markets activity and regulatory expectations keep risk functions well staffed.

Offers: what to sanity-check

Base vs. bonus mix: Ask about bonus target, hurdle metrics, and historical payout range.
Title inflation: “Manager” can mean anything from IC to people leader; verify scope (book size, limits, direct reports).
Leveling & banding: Confirm where you sit in the internal band and the promo cadence.
Relocation & allowances: London and Singapore packages often include relocation, housing, or COL adjustments—ask early.
Non-cash: LTI, pension/401(k) match, medical, and education budgets can be meaningful.

Bottom line

An FRM can position you for analyst-to-manager progression in risk, treasury, and model governance, with six-figure packages in the U.S., strong five- to six-figure equivalents in London and Singapore, and competitive bands in India’s major hubs. Your biggest levers are scope, sector, and city—and your ability to translate models into decisions. If you can do that consistently, you will live at the upper end of the range for your market.

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