For a successful job on Wall Street, you’ll need the correct training. Competition for even low-paying jobs in these lucrative fields is stiff.
On Wall Street, there is a range of professions for business professionals and a number of degree options that can help you get there.
Master’s in business administration (MBA) and finance degrees may seem like a perfect fit but accounting and law degrees may surprise you.
Getting an MBA has long been regarded as the holy grail of the corporate world, according to CNBC News.
According to Business Insider, the degree may assist begin the careers of renowned heads of investment banking and mergers & acquisitions.
That’s a major accomplishment. According to Business Insider, M&A executives on Wall Street often make between $2 and $6 million per year, while heads of investment banking typically earn between $3 million and $8 million.
Even before completing their undergraduate degrees, those wishing to work on Wall Street must make certain decisions about their future educational and career paths.
This means that students need to pick a major in college usually in business or another relevant discipline and get their bachelor’s degree from an esteemed university.
As a rule, they begin their Wall Street careers as low-level analysts before pursuing an MBA. Aspiring Wall Street bankers should take their time while selecting a graduate program.
After all, if you want to be taken seriously by potential employers, getting an MBA from an Ivy League school is the best way to proceed.
A Degree in Finances
If you want to work on Wall Street, an MBA isn’t your only option. Instead of majoring in business administration, a top-tier master’s in finance might provide an easier path to success.
A Chartered Financial Analyst (CFA) certificate is an excellent option for anybody interested in studying finance.
According to CNBC News, this certificate can assist candidates to compete with MBA holders, especially those who didn’t make it into the top-tier colleges.
Studying finance is a great way to land your first Wall Street analyst position, and making the appropriate career moves afterward may help you climb your way up the corporate ladder.
A Degree in Accountancy
Some of Wall Street’s top executives require a degree other than the typical MBA or finance degree to succeed.
According to Business Insider, a career as a Chief Compliance Officer (CCO) might be a great fit for someone with a degree in accounting and years of experience working at an accounting company.
The person in this position is responsible for ensuring that the business complies with all applicable laws and financial rules. According to Business Insider, CCOs may make anywhere from $1 million to $2 million a year in compensation.
A Bachelor’s degree in Law
If you want to be a CCO but don’t want to study accounting, you can get a legal degree instead. The purpose of a Chief Compliance Officer is to keep the organization out of legal difficulties.
The majority of CCOs begin their career in the field after getting a Juris Doctor degree and working in a law firm that practices related law.
No matter what degree path you take to work on Wall Street, you must stand out from the herd. An internship, work experience, and professional qualifications will help you stand out from the crowd and land a high-paying Wall Street job.