MSI H81M-E33 (mobo) and i5-4690k (CPU) compatibility/issues?

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I'm getting a new CPU AND mobo, as my CPU is bottlenecking my R9 280x and my motherboard doesn't support intel CPUS.

Current specs:
Motherboard: A55M-E35
CPU: A8-6600k
GPU: MSI R9 280x
PSU: 850W

Are these two components compatible? MSI H81M-E33 (mobo) and i5-4690k (CPU)
I have a budget of around £200 ($300) and I'm looking for a HIGH-END CPU, rather than an expensive mobo.

If these are not compatible, or have major cons, please could you recommend an alternative? Thanks!
 
Solution
Compatible, mostly; would I recommend that combination, NO!

You are paying a decent amount of coin for an overclockable i5, but are putting it on a motherboard where you will not be overclocking it.

This is a good, safe combination.

PCPartPicker part list / Price breakdown by merchant

CPU: Intel Core i5-4460 3.2GHz Quad-Core Processor (£138.75 @ Amazon UK)
Motherboard: ASRock H97 PRO4 ATX LGA1150 Motherboard (£79.55 @ Overclockers.co.uk)
Total: £218.30
Prices include shipping, taxes, and discounts when available
Generated by PCPartPicker 2015-11-10 18:05 GMT+0000

If you need to save a little more, then

PCPartPicker part list / Price breakdown by...
Compatible, mostly; would I recommend that combination, NO!

You are paying a decent amount of coin for an overclockable i5, but are putting it on a motherboard where you will not be overclocking it.

This is a good, safe combination.

PCPartPicker part list / Price breakdown by merchant

CPU: Intel Core i5-4460 3.2GHz Quad-Core Processor (£138.75 @ Amazon UK)
Motherboard: ASRock H97 PRO4 ATX LGA1150 Motherboard (£79.55 @ Overclockers.co.uk)
Total: £218.30
Prices include shipping, taxes, and discounts when available
Generated by PCPartPicker 2015-11-10 18:05 GMT+0000

If you need to save a little more, then

PCPartPicker part list / Price breakdown by merchant

CPU: Intel Core i5-4460 3.2GHz Quad-Core Processor (£138.75 @ Amazon UK)
Motherboard: ASRock H97 Anniversary ATX LGA1150 Motherboard (£65.52 @ Amazon UK)
Total: £204.27
Prices include shipping, taxes, and discounts when available
Generated by PCPartPicker 2015-11-10 18:07 GMT+0000

If you really want the CPU and you plan to overclock it later, then this is about as cheap as I would go, and I would rather have a better motherboard still.

PCPartPicker part list / Price breakdown by merchant

CPU: Intel Core i5-4690K 3.5GHz Quad-Core Processor (£167.96 @ Amazon UK)
Motherboard: Gigabyte GA-Z97X-SLI ATX LGA1150 Motherboard (£89.99 @ Novatech)
Total: £257.95
Prices include shipping, taxes, and discounts when available
Generated by PCPartPicker 2015-11-10 18:10 GMT+0000

none of these systems will limit your GPU.
 
Solution
It does have an effect, but not very much. Any i5 will drive any GPU, except in circumstances where nearly every CPU would struggle. An i5 can drive SLI 970s. Intel uses a different architecture that means it's individual cores are much more powerful than AMD modules at the same or higher speed. The individual cores in the i5 4460 can provide nearly twice the though put of your APU.

I have an i5 4590 and an i5 4690K running at 4.6Ghz. When using my GTX 970. I cannot tell the difference except in extreme and unusual gaming circumstances. (The difference between 56 FPS and 50FPS is something you cannot see, but your eye is aware of the difference in smoothness)