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To get a job in finance, is it recommended to get a masters' degree?
#finance #accounting #business #master's
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23 answers
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Jason’s Answer
A masters degree is generally not a requirement for a career in Finance. However many higher-level roles in finance like CFO favor or require candidates to have a CPA license. Many states now require 150 semester hours of education in order to become a licensed CPA, so while not required to start your career in finance it might be helpful depending on your career path.
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Jeffrey’s Answer
Accounting jobs typically favor a master's degree, but from what I have seen in finance early careers (banking, sales, etc) a masters isn't required. Make sure to look at the specific career path you are targeting and explore the network of successful candidates and their credentials.
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Kylyn’s Answer
A Masters Degree is helpful in furthering your career. I work in corporate finance, and I got an undergrad degree in finance, and am now working on my MBA while working a full time job. I have found that it is easier to apply what you are learning in the MBA while in your career than starting it before working.
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Cyndi’s Answer
It depends! There are a lot of different jobs that are finance-related. For example, if you would like to be a financial consultant, wealth/asset manager, financial advisor, etc. it might be beneficial to get a Masters degree. However, if you are looking into becoming a financial analyst for a company or a banker, maybe a Masters degree is not necessary. I would say do it for yourself, if you think you would like to expand on your knowledge and learn more about the financial world, get a Masters if you could afford it (money and time wise), it never hurts to get more knowledge! Good luck!
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Paul’s Answer
Hi Lily! While a master's degree is not necessary, I would highly recommend it. If you are interested in Accounting specifically, a master's is most likely necessary in order to obtain the credits necessary to sit for the CPA exam. If you are interested in general finance jobs, a master's in finance or international business can help set you apart. I would warn against going from undergrad straight into an MBA program; there are so many MBAs now that the degree is becoming less and less valuable unless obtained from a prestigious institution. Top quality MBA programs usually require several years of work experience before entering, which you could consider after working at company (some companies will even pay for this!). Hope this helps!
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James’s Answer
A master's in finance is not require for a career in finance. If you are interested in a finance career, I recommend majoring in college in finance or economics. When you start your career in finance, you then will be able to judge whether or not you need higher education for you job.
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Zachary’s Answer
You don't have to have a master's degree in order to get a job in Finance. Having an undergraduate in Finance/Accounting is helpful but still not required. If you are already working toward a graduate degree it will help you set yourself apart from others. Working a little before getting a graduate degree may be a good idea, so you can get a good sense of what you enjoy doing to focus your education on that.
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Carlos’s Answer
It really depends on what you want to do, if you want to go into Finance you can become a Client Service Associate or get into a program to be a Financial Advisor with a firm. Finance is very broad you first need to know what position you want to be in and look at what employers look at in position offerings.
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Samantha’s Answer
Hi Tanya,
In finance, a master’s degree is generally not required, although some people choose to get an M.B.A., especially if they are trying to make a career change within finance. In accounting however, getting a master’s degree generally opens more job opportunities. Certified Public Accountants (CPAs) generally have the most opportunities within accounting, and it’s easiest to become a CPA with a master’s degree in accounting, because of the stringent educational requirements to become a CPA. Becoming a CPA is possible with just a bachelor’s degree, but can be harder if you didn’t major in accounting. If you are interested in accounting, I would recommend researching the CPA educational requirements for the state you will want to work in. This can help you decide if you want/need to pursue a master’s degree in accounting to meet your professional goals. Best of luck!
Research CPA educational requirements in the state you want to work in, if you are potentially interested in accounting
In finance, a master’s degree is generally not required, although some people choose to get an M.B.A., especially if they are trying to make a career change within finance. In accounting however, getting a master’s degree generally opens more job opportunities. Certified Public Accountants (CPAs) generally have the most opportunities within accounting, and it’s easiest to become a CPA with a master’s degree in accounting, because of the stringent educational requirements to become a CPA. Becoming a CPA is possible with just a bachelor’s degree, but can be harder if you didn’t major in accounting. If you are interested in accounting, I would recommend researching the CPA educational requirements for the state you will want to work in. This can help you decide if you want/need to pursue a master’s degree in accounting to meet your professional goals. Best of luck!
Samantha recommends the following next steps:
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Dennis’s Answer
Hi Lily, thanks for your good question.
Indeed, a master's degree will be more likely to bring you to the room of interview. However, the applicable knowledge/skills/personality will be the most important points that help you to get the job. I have seen masters got rejected and bachelors got offered, it really depends on how much you know about yourself, your role, and the company. If you are really suitable, then yes, I would say you will definitely get the offer.
Back to your question, I think a bachelor will be sufficient to get to the room of interview (it stands a greater chance if you are active in school's extra co-curricular). Everything after you enter the room, will be something to do with the things that I mentioned earlier, master's degree is not really relevant in this case.
Hope this helps! All the best!
Indeed, a master's degree will be more likely to bring you to the room of interview. However, the applicable knowledge/skills/personality will be the most important points that help you to get the job. I have seen masters got rejected and bachelors got offered, it really depends on how much you know about yourself, your role, and the company. If you are really suitable, then yes, I would say you will definitely get the offer.
Back to your question, I think a bachelor will be sufficient to get to the room of interview (it stands a greater chance if you are active in school's extra co-curricular). Everything after you enter the room, will be something to do with the things that I mentioned earlier, master's degree is not really relevant in this case.
Hope this helps! All the best!
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Jared’s Answer
Hi Lily!
In my opinion, a master's degree is not necessary to find an entry level role within finance, as there are many different entry points. Many employers ranging from wealth management to corporate finance are looking to hire candidates with bachelor's degrees.
On the other hand, a master's degree certainly is a useful tool in order to give yourself a leg up in terms of setting yourself apart from other candidates. Often times, these degrees can command a more advanced position, as well as increased responsibility and earning power.
Either way, there are different options and if you want to specialize in a field - a master's degree can help!
In my opinion, a master's degree is not necessary to find an entry level role within finance, as there are many different entry points. Many employers ranging from wealth management to corporate finance are looking to hire candidates with bachelor's degrees.
On the other hand, a master's degree certainly is a useful tool in order to give yourself a leg up in terms of setting yourself apart from other candidates. Often times, these degrees can command a more advanced position, as well as increased responsibility and earning power.
Either way, there are different options and if you want to specialize in a field - a master's degree can help!
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Kimberly’s Answer
Most financial institutions will require your BA and then several industry licenses. There are many training financial advisor programs out there that give you the opportunity to train while becoming a fully licensed financial advisor if that is a route you are interested in.
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Luke’s Answer
Hey Lily! A masters degree will get you a leg up but not as much as experience. I would recommend working as soon as you can.
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sergio’s Answer
Great question! A MBA would not be a requirement for a job in finance. I believe that in the long run it will pay dividends for your career in terms of upward mobility. It also depends on the type of finance you would like to work in. Overall, the more degrees/certifications you have will most likely increase your value.
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Alexander’s Answer
Hello Lily, it is great you are considering obtaining a master's degree within Finance. In my experience and from what I have seen other peers experience, is that the Master's degree will put you at an advantageous position once you are within a company. Some companies may even disclose a promotional opportunity if a Master's degree is earned. Additionally, most financial firms will even help to pay for your some of the your tuition costs to obtain the Master's degree.
While in high school and undergrad, my number one recommendation would be to become comfortable with excel and to develop an understanding on how to perform various financial transactions/models. This will be an attractive skill to bring into any job interview and it is highly sought after.
Finally, in your free time, you may want to look into "MOOC Open-Course Works". These are free courses to introduce you to the business world and give you a feeling of what some Masters level courses may look like.
Good luck with your future endeavors!
While in high school and undergrad, my number one recommendation would be to become comfortable with excel and to develop an understanding on how to perform various financial transactions/models. This will be an attractive skill to bring into any job interview and it is highly sought after.
Finally, in your free time, you may want to look into "MOOC Open-Course Works". These are free courses to introduce you to the business world and give you a feeling of what some Masters level courses may look like.
Good luck with your future endeavors!
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Brianna’s Answer
It depends! Often times if you are in a career in finance, there are some companies that will help you pay for your MBA so you can do that part-time with working. I don't have my master's as I am in accounting and did not need it. However, I have co-workers in accounting as well as some friends I went to college with that work in finance that are able to get help with paying for an MBA while working.
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Christian’s Answer
To get a job in finance, is it recommended to get a masters' degree?
I would generally say no this is not the case, but it can be needed/useful depending on your background.
A large portion of this response is based on what undergraduate program you attended and how well that school is connected towards the specific careers you would target. Some are much more competitive and lucrative than more readily available jobs, with careers in investment banking or private equity being some of those highly demanding, competitive jobs. That's also not to say it would be impossible to reach out and make your own connections/relationships towards those industries/firms but it would be much more difficult if your college didn't have special recruiting events/pipelines already in place.
Assuming your school has the benefit of these relationships with companies, then it would simply be a matter of how well you stand and perform against the competing pool of candidates in your class of peers. It can be a time intensive process but landing an internship at a firm can most likely guarantee a full time job upon graduation. This is why it is so important to consider what career options and companies are sponsors of certain schools, and how much you would value landing those jobs if you were debating over different schools to attend. What you also study might not necessarily matter with top institutions still taken seriously/recruited for finance roles than middle ranked institutions you would likely have to study more finance/accounting related business material to be considered.
Situations where it would then make sense if you needed an MBA would be more for experienced workers who may have gone too deep in a specific skill/job and don't have as many attractive transferable skills on paper. This is where an MBA can provide a pivot in restarting your career trajectory so to speak and enable you to follow a new interest. That is one of the main value drivers of obtaining such a degree in addition to gaining a high quality network. It's typical high cost though really brings up the question of whether or not it's worth tens of thousands of dollars if not much more for those opportunities. If you can save the money by attending a great undergrad, then I would stress effort there as much as you can.
I would generally say no this is not the case, but it can be needed/useful depending on your background.
A large portion of this response is based on what undergraduate program you attended and how well that school is connected towards the specific careers you would target. Some are much more competitive and lucrative than more readily available jobs, with careers in investment banking or private equity being some of those highly demanding, competitive jobs. That's also not to say it would be impossible to reach out and make your own connections/relationships towards those industries/firms but it would be much more difficult if your college didn't have special recruiting events/pipelines already in place.
Assuming your school has the benefit of these relationships with companies, then it would simply be a matter of how well you stand and perform against the competing pool of candidates in your class of peers. It can be a time intensive process but landing an internship at a firm can most likely guarantee a full time job upon graduation. This is why it is so important to consider what career options and companies are sponsors of certain schools, and how much you would value landing those jobs if you were debating over different schools to attend. What you also study might not necessarily matter with top institutions still taken seriously/recruited for finance roles than middle ranked institutions you would likely have to study more finance/accounting related business material to be considered.
Situations where it would then make sense if you needed an MBA would be more for experienced workers who may have gone too deep in a specific skill/job and don't have as many attractive transferable skills on paper. This is where an MBA can provide a pivot in restarting your career trajectory so to speak and enable you to follow a new interest. That is one of the main value drivers of obtaining such a degree in addition to gaining a high quality network. It's typical high cost though really brings up the question of whether or not it's worth tens of thousands of dollars if not much more for those opportunities. If you can save the money by attending a great undergrad, then I would stress effort there as much as you can.
Anthony Kofi Hene-Amoah
Project Analyst/Advisor, Career Advisor, Translator/Editor
137
Answers
Updated
Anthony’s Answer
Yes, the answer is simple.
You can get a job in finance, even
below master's degree level, but it
is highly commendable, if you are
able to proceed to master's level.
Best wishes to you.
You can get a job in finance, even
below master's degree level, but it
is highly commendable, if you are
able to proceed to master's level.
Best wishes to you.
Updated
Rob’s Answer
dont need it. If you are going to a top 25 business school worth the money, other than that no worth it. Experiance at an investment company is worth more.
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Donald’s Answer
There are many jobs that relate to finance. I think if you are looking to do advanced work like working under the CFO, yes you should have advanced education. That doesn't mean you need to get a masters right away. Getting into the right company first and seeing your pathways first is something that I would recommend. While there, you can network with the folks you aspire to be and they will be the best to provide you with advice.
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Ed’s Answer
Hi Lily,
Master's degrees are not required for obtaining a job in finance.
1. I find that the finance business is much easier to learn and understand when you are within it.
2. Obtaining a master's degree is never a bad idea, especially when thinking about career development and progress.
3. In terms of actually learning the business, working at a finance job will provide more experience which at some times can be more valuable than textbooks.
Master's degrees are not required for obtaining a job in finance.
1. I find that the finance business is much easier to learn and understand when you are within it.
2. Obtaining a master's degree is never a bad idea, especially when thinking about career development and progress.
3. In terms of actually learning the business, working at a finance job will provide more experience which at some times can be more valuable than textbooks.
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Tanya’s Answer
Hi There! While a masters degree is not required, it certainly will help with further advancing your career depending on what avenues you'd like to explore! My overall advise is that the more certifications that you have, the more qualified you will be for any future job that you may want.
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Lauren’s Answer
You don't need a masters degree to work in finance. If you could not find a finance job with a Bachelors and are hitting a dead end, an MBA would be advised if you can use the college's resources and network to find a job.