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Finance!!!

Do you need a bachelor's degree for finance?

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Christos’s Answer

A bachelor's degree is needed almost every time when applying to finance jobs. A bachelor's degree will prepare you with the basic foundation you will need in order to succeed in a finance career.

That said, a BS in Finance is not the only option. You can do a BS in Business Administration (Finance Concentration), Economics, Accounting or even Mathematics.

If you would like to work in Finance the CFA is also a great add-on that will truly boost your career.

Have a great day,
Chris
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Megan’s Answer

Hello William!
Most careers nowadays require you to have a bachelor's degree. In most cases than not, most companies will not look at someone's resume if they do not show they have a Bachelor's degree. In my case specifically, it definitely helps to have a degree and on top of that; when you are in college, take the time to network and join organizations. This is how I have the job I have today. Whichever career path you decide to choose, it's always a good idea to attend college.
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Adam’s Answer

Hey William,

This is a great question and I feel that I have some experience with this topic. I am in finance in a Fortune 100 company and a family member is in finance for a fortune 500 company. The difference between us is that I have a degree and they went into their role after high school. The issues that they have faced without a degree were troubles in finding a job, unable to advance vertically in the company, and a difference in pay gap. Finding a job in finance without a degree is not impossible but will be challenging to get without either certificates in certain systems, experience in the industry, or having a connection to help you get your foot in the door. My suggestion is that if you were to not go to college is to gain a couple of certificates to boost your resume. Finance is a big and diverse industry but it follows similar principles throughout meaning if you become and expert in one area, it will greatly help in other areas as well.

If you want to go more corporate then these are some benefitable certificates:
- SAP (a monster of a system but widely used, Just getting the basics down adds significate value)
- Six Sigma Trainings ("Six Sigma is a quality control certification that attempts to educate people on analyzing processes and outcomes to reduce waste and decrease defects". This certificate is more for looks rather than practicality but it does help with getting a professional foundation.)
- Microsoft office Certificates with specialization in Excel and PowerPoint (For entry level finance employees, Excel will be your best friend and worst enemy. Mastering it early will open a lot of doors. I included PowerPoint as well because not only will you need to gather and manipulate data but you will also need to know how to present it.)
- OPTIONAL: SQL language or other data mining languages (optional because this is more data mining rather than finance as a whole but It is something I wish I had more knowledge in when entering the workforce.)

There are other Systems certificates that maybe others can include them in the comments but these certificates paired with a college degree would make you a strong contender and without a degree will separate you from other applicants and put you in favorable light. Hope this helps and Good luck!
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Ken’s Answer

Hello William. Most positions in finance require a bachelor's degree, but not all. For example, many merchant service representatives (selling credit card processing) positions do not require a bachelor's degree. I think your question is very broad and while the rule of thumb is that you need the degree, it is not always required. If you do want to advance into any managerial role within the finance sector, you most certainly need the degree. I absolutely believe you should get your degree to open as many doors as you can. Good luck!
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James Constantine’s Answer

Hello William,

Do You Need a Bachelor’s Degree for Finance?

In the field of finance, having a bachelor’s degree is not an absolute requirement, but it is highly recommended and often preferred by employers. A bachelor’s degree in finance or a related field can provide individuals with the necessary knowledge, skills, and credentials to pursue a successful career in finance.

Benefits of a Bachelor’s Degree in Finance:

Knowledge and Skills: A bachelor’s degree in finance equips individuals with essential knowledge in areas such as financial analysis, investment management, risk assessment, and financial planning. These skills are crucial for roles in banking, investment firms, corporate finance, and other financial institutions.

Career Opportunities: Having a bachelor’s degree in finance can open up a wide range of career opportunities in the financial industry. Many employers prefer candidates with a formal education in finance when hiring for roles such as financial analysts, investment bankers, financial planners, and more.

Professional Development: Pursuing a bachelor’s degree in finance demonstrates commitment to the field and can enhance professional development. It can also provide networking opportunities with peers and professionals in the industry.

Alternative Paths to a Career in Finance:

While a bachelor’s degree is beneficial for pursuing a career in finance, there are alternative paths that individuals can take:

Certifications: In lieu of a bachelor’s degree, individuals can obtain relevant certifications such as the Chartered Financial Analyst (CFA), Certified Financial Planner (CFP), or Chartered Investment Counselor (CIC) designation to demonstrate expertise and competency in specific areas of finance.

Work Experience: Some individuals may enter the field of finance through gaining relevant work experience or completing internships at financial institutions. While this path may require more effort to establish credibility without a formal degree, it is still possible to build a successful career through hands-on experience.

Advanced Degrees: For those looking to advance their careers further, pursuing advanced degrees such as a Master of Business Administration (MBA) with a concentration in finance can provide additional knowledge and skills that may lead to higher-level positions within the industry.

In conclusion, while a bachelor’s degree is not mandatory for pursuing a career in finance, it can significantly enhance one’s prospects for employment and advancement within the field. However, there are alternative paths available for individuals who do not hold a formal degree but are willing to acquire relevant certifications or gain practical experience.

Top 3 Authoritative Sources Used:

Investopedia
U.S. Bureau of Labor Statistics
The Balance

God Bless You,
JC.
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Kenneth’s Answer

Hello, William. Years ago, when I worked in the branch office of a bank, I knew people who did not have a college degree. Unfortunately, their career was limited. Several took advantage of a tuition-reimbursement program with their employer and were eventually able to secure positions of greater responsibility. Christos mentioned a CFA. You need a bachelor's degree to earn that designation. The same is true for a CFP(R).
Good luck!

Kenneth recommends the following next steps:

Finance is a very wide field. See if you can find an entry-level position and study while you are employed.
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Sikawayi’s Answer

Hello William, thank you for your question. Yes William, I do believe you would have a bachelor's degree to work in most areas of finance. The only positions in finance you wouldn't need a degree in maybe some sort of entry level job that doesn't require you to work with money. No matter what field you go into I would encourage you to go to college. Best of luck
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Aneil’s Answer

Hi William,

Most jobs these days require a minimum of a 4-year degree.

The financial industry is very broad, and I have met professionals with Finance degrees, Economics degrees, and even Math degrees. in this field.

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Maria Jose’s Answer

Hi William,

If you are sure Finance is where you want to work, yes go for that bachelor's in Finance.
If you are not fully sure, BA, or Economics would also keep the door open.
The financial industry is very broad, so there is a lot to explore.
Try to get an internship in one of the companies you like and see if it is how you imagine it.
All the best!
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