Most investment banks hire undergraduates with a bachelor's degree in any field, but economics, finance, accounting, and business are the most common paths

You do not need a specific degree to land an entry-level investment banking job. Banks hire from all majors — engineering, math, history, philosophy — but they hire far more people with degrees in finance, economics, accounting, or business administration. The degree matters less than your GPA, internship experience, and ability to pass the technical interview. That said, choosing the right major does make the job search easier because recruiters screen for it, and the coursework prepares you for what you will actually do.

Most investment banks do not require a master's degree to start. You enter as an analyst with a bachelor's degree, work for two to four years, then move to associate — at which point some people pursue an MBA, but it is not required to get hired. A few boutique banks and some international firms prefer candidates with a master's degree in finance or business, but this is the exception, not the rule.

Key Takeaways

  • Investment banks hire entry-level analysts with any bachelor's degree, but finance, economics, accounting, and business majors are hired more frequently.
  • Your GPA, internship history, and performance on technical interviews matter more than your major when competing for analyst positions.
  • An MBA is not required to start in investment banking; most analysts enter with a bachelor's degree and work for two to four years before considering graduate school.
  • Coursework in financial modeling, valuation, and accounting gives you an advantage in interviews and on the job, regardless of your official major.

Why finance and economics majors get hired first

Recruiters at major investment banks — Goldman Sachs, Morgan Stanley, JPMorgan Chase, Bank of America Merrill Lynch — target finance and economics majors because the major signals that you have already learned the language. You have taken courses in corporate finance, investments, financial statement analysis, and microeconomics. When you walk into an interview, you already know what EBITDA means, how to read a balance sheet, and why interest rates matter. This saves the bank training time.

Accounting majors are also heavily recruited because investment banking involves reading and analyzing financial statements constantly. If you have taken intermediate and advanced accounting, you understand how companies record transactions, what the footnotes mean, and how to spot when a number does not add up. This is directly useful work.

Business administration and commerce degrees are common too, especially at schools with strong recruiting relationships with banks. These programs usually require finance and accounting courses, so graduates have similar preparation to finance majors.

How non-finance majors compete for the same jobs

If you majored in engineering, mathematics, physics, or any other field, you can still get hired. Banks value strong quantitative skills and problem-solving ability. If you can demonstrate that you understand financial concepts — through self-study, online courses, or electives — you are competitive. The barrier is not your degree; it is your ability to pass the technical interview and show you have thought about why you want the job.

Many successful investment bankers studied liberal arts, computer science, or other fields. What they did was take finance electives, complete internships in banking or corporate finance, and prepare rigorously for interviews. Some completed online certifications like the CFA Level 1 or took courses in financial modeling before recruiting season. This preparation signals that you are serious and capable, even if your major was not finance.

The real disadvantage of a non-finance major is that you will not be on the bank's target school recruiting list automatically. You have to find the job yourself, network harder, or attend a recruiting event where you can pitch yourself directly. Once you are in the interview, your major matters far less than what you know.

What coursework actually prepares you for the job

Investment banking work centers on financial modeling, valuation, and deal analysis. The courses that teach these skills are: corporate finance, investments, financial statement analysis, accounting (especially intermediate and advanced), and sometimes business valuation or mergers and acquisitions. If your major does not require these, take them as electives. A finance major who skipped valuation is less prepared than an engineering major who took it.

Quantitative courses also matter. Investment bankers build spreadsheet models, work with large datasets, and need to think mathematically about problems. Calculus, statistics, linear algebra, and computer science courses all help. Some banks specifically look for candidates with programming experience because modeling and data analysis are increasingly automated.

If you are not a finance major, prioritize taking at least corporate finance, financial accounting, and investments before you interview. These three courses cover the core concepts you will need to discuss in technical interviews and to perform the job itself.

GPA, internships, and recruiting timeline matter more than your major

Investment banks use GPA as a screening tool. Most target candidates with a 3.5 or higher, though this varies by school and by bank. A 3.3 GPA from a top university might pass the screen; a 3.7 from a less-known school might not. The point is that your major does not override a weak GPA. A 3.2 finance major will lose out to a 3.7 economics major in the initial screen.

Internship experience is the second major filter. Banks hire analysts who have already interned at another bank, at a corporate finance department, or at a private equity or hedge fund firm. If you have done a summer internship in investment banking or corporate development, your major becomes almost irrelevant. If you have no internship experience, your major and GPA become more important because the bank has less direct evidence that you can do the work.

Recruiting happens in the fall of your junior year for summer analyst positions, which often convert to full-time analyst offers. If you wait until senior year to start looking, you have missed the main recruiting window. Your major choice matters most if you make it by the end of sophomore year, so you can take the right courses and position yourself for junior-year internships.

MBA timing and whether it is necessary

An MBA is not required to start in investment banking. You enter as an analyst with a bachelor's degree, work for two to four years, and then decide whether to pursue an MBA. Some analysts go to business school after their analyst stint; others move directly to associate without one. The bank will not require it, and you will not be at a disadvantage without it.

If you do pursue an MBA, the timing is usually after two years as an analyst. You take a two-year MBA, then return to the bank as an associate. Top MBA programs — Harvard, Stanford, Wharton, Chicago Booth — are common among investment bankers, but many analysts attend regional or part-time programs, or skip the MBA entirely. The MBA is more valuable if you want to move into private equity, hedge funds, or corporate strategy later; for staying in investment banking, it is optional.

A few international banks and some boutique firms do prefer or require a master's degree in finance or business for entry-level positions. This is rare in the United States but more common in Europe and Asia. If you are targeting a specific bank known for this preference, research their recruiting materials or ask a recruiter directly.

How to choose your major if you are still undecided

If you are in high school or early college and considering investment banking, choose a major that interests you and that includes finance coursework. Finance, economics, accounting, and business administration all work. If you are drawn to a different field — engineering, math, computer science — choose that and add finance courses as electives. Do not choose a major solely because you think it will help you get a banking job; you will spend four years studying it, and burnout is real.

What matters more than the major itself is taking the right electives, maintaining a strong GPA, and securing an internship by the end of sophomore year. If you do those three things, your major becomes a minor factor in recruiting. If you neglect any of them, your major cannot compensate.

Frequently Asked Questions

Can I get hired as an investment banker with a degree in history or philosophy?

Yes, but you will need to demonstrate financial knowledge through coursework, internships, or self-study. Take finance and accounting electives, complete a corporate finance internship, and prepare thoroughly for technical interviews. Your major will not disqualify you if you can show you understand the work.

Do I need a CFA or other certification to get hired as an analyst?

No. Most entry-level analysts do not have a CFA when hired. Some complete CFA Level 1 before recruiting to signal commitment, but it is not required. You can pursue the CFA after you are hired and working as an analyst.

Is a master's degree in finance better than a bachelor's degree in finance?

Not for entry-level investment banking jobs. Banks hire bachelor's degree holders as analysts. A master's degree does not accelerate your entry or starting salary. It may help if you are applying to a specific bank that prefers it, but this is uncommon in the United States.

What if my GPA is below 3.5 but I have strong internship experience?

Strong internship experience can overcome a lower GPA, especially if you have worked at a bank or in corporate finance. You may not pass the initial automated screen at the largest banks, but you can network directly with recruiters or apply to smaller or boutique firms that do not use strict GPA cutoffs.

Should I double major in finance and economics?

A double major is not necessary. A single major in finance or economics with electives in the other field is sufficient. The time spent on a second major is better spent on internships, networking, or building financial modeling skills, which matter more to banks than the number of majors on your diploma.