Education and Skills

• According to the Bureau of Labor Statistics, BLS, investment bankers typically have very strong educational backgrounds often with bachelor's degree in business, economics, finance or accounting. Masters in Business Administration, MBA, is often a requirement for advancement to higher-level positions. Brokers need to obtain a license from the Financial Industry Regulatory Authority, FINRA, to be able to legally sell securities. Other common licenses are the Series 7 license for general securities representative and the Certified Financial Analyst, CFA.
  
  According to the Occupational Information Network, being an investment banker requires excellent analytical and problem-solving skills, social perceptiveness and systems analysis skills.
  
  

Career Path

• Financial institutions usually hire from the top graduates from elite universities and MBA programs. According to U.S. News, entry into the investment banking field is very difficult, with very challenging interviews and strong competition. Often college graduates begin their investment banking career as analysts. In time, with hard work and good analytical and spreadsheet skills, analysts can be promoted to associates. In the long term, successful investment bankers may be promoted to managing director or vice president. Understanding current economic and political trends is crucial for career advancement.
  
  

Salary and Job Prospects

• In 2010, the average annual pay range, including commission and bonuses, for associate investment bankers was $62,258 to $128,398 annually, as reported by PayScale. According to the BLS, the employment of financial services sales agents will grow by nine percent between 2008 and 2018, which equals to additional 29,600 jobs.
  
  

Associated Careers

• Former investment bankers may perform similar jobs, such as a financial officer or analyst, or in house for a client. Management consulting is another popular career option after leaving the investment banking profession. Very successful and entrepreneurial individuals may set up their own investment institution.