FRM = Financial risk management
CFA = Portfolio management, investment analysis and valuation
CPA = Accounting
These designations study different things for different career directions, so you should first ask yourself where you want to do in your career. Not just about the pay and prospect, but also the pace and pressure.
CFA vs FRM
Broad vs. Focused – The key differences is that CFA curriculum covered broad range of topics in Finance. FRM is a specialized exam for gaining expertise in Risk Management.
Job Opportunities – CFA is especially useful for who want to make a career in Investment Banking, Portfolio Management or Financial Research. FRM opens up careers in Risk Management in Banks, Treasury Department
Examination Tips - CFA is slightly easier for students who have an accounting background. CFA curriculum relies heavily on Accounting Fundamentals. FRM examination on the other hand is slightly easier for those who have a quantative background as majority of foundation level topics are math based