While a degree is not an absolute requirement, most employers prefer candidates for financial analyst positions to have at least a bachelor’s degree in finance, economics, accounting, or a related field. Advanced degrees, such as a Master’s in Business Administration (MBA) or a Master’s in Finance, can provide a competitive edge. Specific roles and industries might demand particular certifications, such as the chartered financial analyst (CFA) credential. However, practical experience, analytical skills, and a strong understanding of finance are essential for success as a financial analyst.