No series exams for analysts?

I am joining a bank for FT in the summer and I was curious what licenses I was going to have to get. I was poking around on brokercheck and it doesn't look like any analysts in my group have any licenses and only associates and up have 79. Is this common? Would this affect my ability to lateral?

Comments (8)

NotGaryGensler, what's your opinion? Comment below:

I'm an analyst with the 63, 79 and SIE. Associates get the 7

  • 1
  • Associate 3 in IB - Gen

All banks will require you to get the series 79,63, and SIE is required. Many will also force you to get the Series 7 just to be on Finra's good side. They are a bitch. Lots of memorizing, and requires lots of practice questions. My advice is don't underestimate the exams. People that say they didn't study are bsing, material is specific to the exam. 

Knopman is king (test prep provider for series exams), and just follow knopman's guidance and you'll pass.

  • Analyst 1 in IB - Gen

That's what I thought going in, but then why do none of the analysts in the group I am joining appear on FINRA Brokercheck? Only people in the office who show up are Associate and up. This is a non-NYC office of an EB for context.

Most Helpful
SketchyFinanceGuru, what's your opinion? Comment below:

Some conflicting information in this thread. I would say broadly the larger the institution, the more likely you will be required to take FINRA exams as an analyst. The reality is that there's not really a legal requirement to be registered unless you're the one actually advising the client on M&A or public capital raising business. This is almost never the job of an analyst, but because the large banks face such tremendous regulatory scrutiny, you will find the play it safe and choose to have almost all IB-related employees who may have client facing role to take the exams. For smaller banks, you tend to find a mixed approach. Reality is it costs money to sponsor someone and pay annual fees for registration so unless there's a clear legal requirement, some banks will choose not to do it for analysts. At the associate level, your interaction with clients increases so it becomes more important for you to be registered. 

  • Associate 3 in IB-M&A

Hic quae dolores ipsum inventore rerum quidem aut. Reprehenderit ad explicabo commodi praesentium itaque. Tempore temporibus et itaque porro. Mollitia dolorem dolorem soluta aut iste dolorum. Harum qui quod praesentium sunt sapiente dignissimos porro.

Eos saepe doloremque illum illo quis. Explicabo rerum culpa facere. Quod ut nam adipisci labore non et omnis.

Est expedita eum repellendus quaerat. Et dolores praesentium sit voluptatem. Facilis est nostrum et. Ut accusamus esse provident commodi at pariatur et quos. Sit nam dignissimos et et atque. Magnam id eum incidunt cumque numquam nisi culpa autem. Id aperiam recusandae quia sit.

Start Discussion

Career Advancement Opportunities

March 2023 Investment Banking

  • Lazard Freres (+ +) 99.5%
  • Lincoln International (= =) 99.1%
  • Jefferies & Company (▽02) 98.6%
  • Financial Technology Partners (▽01) 98.2%
  • William Blair (▲10) 97.7%

Overall Employee Satisfaction

March 2023 Investment Banking

  • William Blair (▲04) 99.5%
  • Lincoln International (▲11) 99.1%
  • Canaccord Genuity (▲17) 98.6%
  • Stephens Inc (▲10) 98.1%
  • Financial Technology Partners (▲04) 97.7%

Professional Growth Opportunities

March 2023 Investment Banking

  • Financial Technology Partners (▲05) 99.5%
  • Lincoln International (▲01) 99.1%
  • Lazard Freres (▲13) 98.6%
  • Jefferies & Company (▽03) 98.1%
  • William Blair (▲02) 97.7%

Total Avg Compensation

March 2023 Investment Banking

  • Director/MD (6) $592
  • Vice President (27) $425
  • Associates (141) $260
  • 3rd+ Year Analyst (9) $194
  • 2nd Year Analyst (86) $170
  • 1st Year Analyst (264) $171
  • Intern/Summer Associate (45) $165
  • Intern/Summer Analyst (193) $92