Do I Need A Master’s Degree To Become A CFA?

If you’re interested in becoming a Certified Financial Analyst, you may be a tad overwhelmed by the list of requirements necessary to take the exam, let alone become certified. When compared to other fields of employment, becoming a CFA is both straightforward, and much more difficult.

One of the biggest questions that people ask regarding the CFA level 1 exam is whether or not they need a full-fledged degree in accounting or finance. Furthermore, many people are confused as to if they just need a Bachelor’s degree, or if they should go for will also need a Master’s degree.


To better understand what education is necessary, let’s take a page from the best CFA study guide and see what you have to do.

Education Requirements

One thing to keep in mind for the CFA exam is, that while the test itself is universal for all fifty states, some states will have different requirements which will qualify you to take the test. That means that, depending on where you live, you may have a harder or easier time getting to the point where you take the test. It’s important to remember that even if you have a Wiley CFA study guide, you still have to go through school and get your degree.

In almost every state, a bachelors degree or equivalent education and 48 months of work experience is required. So does that mean you should go for a Master’s degree? It could, but many people choose to take some extra courses to make up the difference rather than commit to years more of schooling and money to get a Master’s degree.

In short, getting a Master’s degree may help in the long-run, but as long as you get the 48 months of work experience, it’s not actually necessary. Once you get your requisite hours, though, be sure to utilize the CFA study guide that Crush The Financial Analyst Exam has to offer, so you can be better prepared for the exam.