Series 79 (Investment Banking Representative)
The IB-specific FINRA license; narrower than Series 7 and aligned with M&A/equity/debt capital markets activity. Standard requirement at all bulge-bracket, middle-market, and boutique IBs.
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Visit Official Site →Founded
2009
HQ
Washington, DC, USA
Target Audience
Investment banking analysts, associates, and bankers performing M&A advisory, capital raising, and corporate restructuring at broker-dealer-registered banks.
Key Features
- 75 multiple-choice questions, 150 minutes, 73% passing score
- Co-requisite SIE exam required
- FINRA member sponsorship required
- Covers: collection/analysis/evaluation of data (~37%), underwriting/new financing transactions, types of offerings & registration of securities (~24%), M&A/tender offers/financial restructuring (~32%), general securities industry regs (~7%)
- Pass rate: ~75-78%
- Replaces broader Series 7 for IB-only career paths (more focused, less retail)
How to Get This Certification
Prerequisites
FINRA member firm sponsorship; SIE co-requisite.
Why Get Certified — ROI
Salary Impact
IB analyst total comp: $170,000-$200,000 first year; associates $300,000+; VP+ $500,000+ (Wall Street Oasis 2024 IB compensation). Series 79 is a license, not a career-pay-driver itself.
Career Benefits
- What makes this stand out
- The IB-specific FINRA license; narrower than Series 7 and aligned with M&A/equity/debt capital markets activity. Standard requirement at all bulge-bracket, middle-market, and boutique IBs.
- Industry recognition
- FINRA — SRO under SEC oversight.
Cost vs Return
$300
Pricing
$170,000/yr
Salary Impact
~1w
Estimated payback
Who Should Get This Certification
Ideal for:
- Investment banking analysts
- associates
- and bankers performing M&A advisory
- capital raising
- and corporate restructuring at broker-dealer-registered banks.
Consider alternatives if:
- Locked into IB career path — does not authorize retail securities sales
- Firm-sponsorship requirement excludes career-changers without an IB hire-in-hand
Pricing
| Item | Price |
|---|---|
| Exam Fee | $300 |
| Sie Corequisite Fee | $80 |
| Currency | USD |
| Total Minimum | $380 |
| Study Materials Typical | 200–500 |
| Premium Prep Courses | 500–1500 |
| Total Budget Path | 380 |
| Total Premium Path | 1500–2300 |
| Renewal | Maintained via active FINRA registration + CE |
| As Of | 2025 |
Weaknesses
- Locked into IB career path — does not authorize retail securities sales
- Firm-sponsorship requirement excludes career-changers without an IB hire-in-hand
- Pure regulatory license — does not validate IB skills (modeling, valuation); CFA/CPA still preferred for those
- Heavy reliance on memorization of FINRA/SEC rules
Markets Served
US
Disclosure: This page contains affiliate links.
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