To become an investment banker, you'll usually need a bachelor's degree in business or finance, internship experience and a job at a firm, which will put you through FINRA's qualification exams. You can take the first exam, the Securities Industry Essentials (SIE), on your own before you're hired, and an MBA may help you move up later.
Investment banking is famous for long hours and high pay, and the route in is built around internships and firm-backed licensing. Here's how it works and what the numbers say.
Job and pay figures come from the Bureau of Labor Statistics (BLS) Occupational Outlook Handbook profile for securities, commodities and financial services sales agents, which covers investment bankers. Exam facts come from FINRA's SIE page. Both were read on 26 October 2026.
What investment bankers do
BLS says investment bankers connect businesses that need funding for operations or expansion with investors who want to provide it. Two big parts of the job are initial public offerings (IPOs) and mergers and acquisitions.
- IPOs. Bankers estimate what a company is worth and make sure it meets the legal requirements to become publicly traded.
- Mergers and acquisitions. Bankers advise throughout the deal so the transaction goes smoothly.
BLS also notes that investment banks are the main employers of securities and commodities traders, who make trades for clients and for the firm itself.
How to become an investment banker, step by step
- Earn a bachelor's degree. BLS says business is a common field, usually covering finance, accounting and economics.
- Land internships. Employers may prefer candidates who've interned, so treat internships as your main way in.
- Take the SIE early. FINRA says anyone 18 or older can take it, you don't need to be with a firm, and results last four years.
- Get hired and licensed. To register for securities business, you must pass the SIE plus a qualification exam for your role, and you must be with a member firm to take that exam.
- Learn on the job. BLS says firms often rotate trainees through departments to give them a broad view of the business.
- Consider an MBA. Some employers require or prefer one, and BLS says it may help with advancement.
The SIE exam at a glance
| SIE detail | FINRA figure |
|---|---|
| Questions | 75 multiple choice |
| Time | 1 hour and 45 minutes |
| Passing score | 70 |
| Cost | $100 |
| Who can take it | Anyone aged 18 or older |
The cost is as of October 2026. Passing the SIE before you apply shows banks you already know how the securities industry works.
What the pay looks like
BLS doesn't publish a wage just for investment bankers. They're counted in the wider securities, commodities and financial services sales agents group, and the most useful figure is the median for agents working in securities and investment firms.
| Measure (BLS, May 2025) | Median or range |
|---|---|
| Securities, commodity contracts and other financial investments | $103,030 |
| Management of companies and enterprises | $98,660 |
| All securities and financial services sales agents | $78,660 |
| Top tenth of the whole group | More than $212,880 |
Those figures are as of October 2026. BLS says pay in this group includes commissions and bonuses for meeting targets, which is why the top tenth earns far more than the median.
Why demand holds up
Here's the insight people miss. Overall employment in this group is projected to grow just 1% from 2025 to 2035, yet BLS expects investment banking services such as IPOs and mergers to stay in demand as the economy grows. It also says the US remains an international financial center, so growth in economies around the world feeds demand for US financial jobs. Meanwhile, automated trading has cut demand for traders. In other words, the advisory side of banking looks steadier than the trading floor.
Travel and work setting
BLS says these agents typically work in an office, but travel may be needed for those who work with companies in other parts of the US or abroad. On big deals, that can mean meetings with company leaders, investors and lawyers in several cities over a few weeks.
Hours and pressure
BLS says these jobs involve many hours under stressful conditions, with demanding managers because pay and promotion depend on results. Some people work more than 40 hours a week, including evenings and weekends. If you're also considering steadier finance work, compare it with becoming an accountant, and if you're thinking about graduate study, see whether a master's in finance is worth it.
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Skills banks look for
- Analytical skills to value companies and judge whether a deal makes sense.
- Comfort with finance, accounting and economics, the core of a business degree.
- Stamina for long weeks and tight deadlines.
- Willingness to keep learning, since BLS says agents must keep up with new products, services and developments.
My verdict
Getting into investment banking is mostly about internships, a strong finance background and showing firms you're ready for the pace. Take the SIE early, aim for internships at investment firms and be ready for long hours in your first years. It's demanding, but the deal advisory side is where BLS sees lasting demand, and the pay at the top of the field is among the highest in finance.
Frequently asked questions
What degree do you need to be an investment banker?
BLS says a bachelor's degree is typical, usually in business with finance, accounting and economics courses, and some employers prefer an MBA.
Do investment bankers need a license?
To do securities business, you must pass FINRA's SIE and a qualification exam for your role, and you must be with a member firm to take that exam.
Can I take the SIE before getting a job?
Yes. FINRA says it's open to anyone aged 18 or older without firm association, and results are valid for four years.
How much do investment bankers make?
BLS doesn't publish an investment banker wage. Securities sales agents in securities and investment firms earned a median of $103,030 in May 2025.
What do investment bankers do?
BLS says they connect businesses that need funding with investors, and help with IPOs and mergers and acquisitions.
Is investment banking stressful?
BLS says jobs in this field involve many hours under stressful conditions with demanding managers.
Is investment banking a growing field?
Overall employment in the group is projected to grow 1% from 2025 to 2035, but BLS expects services such as IPOs and mergers to stay in demand.
Do I need an MBA to be an investment banker?
Not always. BLS says some employers require or prefer an MBA, and it may help with advancement.
