There are many subdisciplines in paleontology, and advanced degrees will be necessary if you want to do research.
Paleontologists study ancient life.
But the truth is that paleontologists concern themselves with much more. Participate in a paleontology program at your local museum or nature center. Check for articles in Scientific American , Natural History, Smithsonian and National Geographic magazines. Take clases in Biology, Chemistry and Geology in school. Unearthing an Evolutionary Saga By John R. Horner,Edwin Dobb.