Since you're concerned with frametimes, let's also add in the asset production pipeline and effort. As it's been mentioned, cutting edge rasterizing consists of

Since you're concerned with frametimes, let's also add in the asset production pipeline and effort. As it's been mentioned, cutting edge rasterizing consists of lengthy pipeline for every single effect imaginable(also sometimes to the graphics assets, mind you) while raytracing does all that almost by default(soft shadows and global illumination are problematic for example, path tracing fixes this but is some two orders of magnitude slower). The real problem with raytracing is that it's asymptotic computational complexity is far worse when you count scene objects. To compensate this you either lower the resolution or lower the lifetime of a ray(how many bounces it's allowed to make).