Can an economics major become a CFO?

Yes, an economics major can absolutely become a CFO, as it's a common and strong foundation, often supplemented by an MBA, CPA, CFA, and extensive experience in finance, accounting, or strategy to build the necessary financial expertise and business acumen for the top financial role. While degrees in finance or accounting are typical, economics provides a robust understanding of markets and strategy, making the path viable with the right career progression and skills development.

Can an economist become CFO?

The majority of CFOs will understandably have an educational background in finance, business, economics or management. A typical path would be a bachelor's and master's degree in accounting or other finance-related studies, alongside the ACCA qualification.

What degree is best for CFO?

To become a CFO, you must start with a strong finance, accounting, or business background. A bachelor's degree in any of these programs will teach you management fundamentals, including marketing and strategic thinking skills. Next, it is crucial to gain work experience as a financial analyst, accountant, or similar.

Can an econ major go into finance?

Banking careers are very popular with economics graduates, offering scope for high earnings and have a high demand for economists. Graduates with a background in economics are particularly valued for roles in financial control, financial planning, risk analysis, data analysis and consultancy.

Can you become a financial manager with an economics degree?

Financial Manager

Financial managers typically work in the banking, investment, and insurance industries, but they can be found in virtually any sector that requires financial oversight. A bachelor's degree in finance, accounting, or economics is required, along with several years of experience in a financial role.

The Only College Degrees Still Worth It in 2026

Who gets paid more, economics or finance?

Financial analysts, who typically need a bachelor's degree, earn a median salary of $99,010, while economists, often requiring a master's degree, earn $115,730 annually.

Does JP Morgan hire economists?

275 Jpmorgan Economist Jobs in United States (26 new)

Is econ a harder major than finance?

As a finance degree heavily depends on financial analysis and modeling, students may find the material more difficult if they struggle with mathematical concepts. However, students seeking an economics degree might have difficulty understanding abstract ideas like economic theory and policy analysis.

Can I get CFA with an economics degree?

Leverage your economics degree for a finance career by acquiring key skills through relevant courses and certifications, such as CFA or financial modeling.

What kind of jobs do economics majors get?

An economics degree opens doors to diverse careers in finance (analyst, advisor, risk manager), data (data scientist, analyst, statistician), consulting (management, economic), government (policy analyst, foreign service), and law, leveraging analytical, quantitative, and critical thinking skills for roles in banking, market research, public policy, and corporate strategy. Key roles include Financial Analyst, Economist, Data Analyst, Market Research Analyst, Actuary, Accountant, and Policy Analyst. 

Can you make $500,000 a year as an accountant?

Yes, an accountant can make $500k a year, but it's rare and typically requires reaching top-tier positions like partner at a large firm, C-suite executive (like CFO) at a major corporation, or owning a highly successful firm, often involving significant experience, high-leverage skills, business development, and substantial sacrifice, far beyond typical staff accountant roles. 

What is the typical CFO salary?

A typical CFO salary varies widely but averages around $250k-$450k+ in base pay, with total compensation easily exceeding $1M+ in large public companies or high-growth sectors like tech and finance, driven by bonuses and stock options, though small private firms pay significantly less, often in the $150k-$250k range. Key factors are company size, public vs. private status, location (major hubs pay more), and industry, with tech/finance generally paying the most.
 

What is the fastest way to become a CFO?

Can a Master's Degree or MBA Speed Up How Long It Takes to Become a CFO? Yes — an advanced degree can shorten the time it takes to become a CFO by making you more competitive for promotions and strategic roles. According to one global data set, 51% of CFOs hold a master's, and some even hold doctorates.

What do most CFOs major in?

While the professionals we analyzed took various paths to reach CFO, the data says that the most straightforward path to the CFO seat is: Go to a top 100 school, get a bachelor's degree in finance, and then get an MBA.

What is the highest paid job in economics?

The highest paying jobs for economics majors are often in finance, consulting, and tech, with roles like Investment Banker, Financial Manager, Securities Trader, and Data Scientist leading the list due to high demand for analytical, quantitative, and strategic skills, with salaries often exceeding $100k, especially with experience or advanced degrees like an MBA or specialized certifications. 

Can I become a CEO with an economics degree?

Economics majors are the largest subset of the Liberal Arts graduates, with approximately nine percent (9.2%) of the CEOs holding an undergraduate degree in Economics. Liberal arts majors in History and Political Science follow with 5.0% and 4.2% of the CEOs, respectively.

Do econ majors go into finance?

Graduates of economics degree programs can pursue a variety of careers in fields such as finance, consulting, public policy, research, and academia.

Is 67% enough to pass CFA?

A 67% score is generally considered strong and likely enough to pass a CFA exam, especially if you have strong scores in key weighted topics, but it's not a guarantee as the Minimum Passing Score (MPS) varies by exam difficulty, with experts recommending aiming for 69% or higher (e.g., 70%+) for a comfortable pass on Level 1 and Level 2 to be safe. While 67% is above the historical average for some levels (like Level 2's 66% average), the MPS can fluctuate, so focus on strong performance across all areas, especially weighted ones like Fixed Income or Ethics. 

What is a CFA salary?

CFA salary varies significantly by experience and role, but charterholders see substantial earnings, with total compensation often reaching $100,000 to $180,000+ annually, driven by roles in investment management, asset management, and portfolio management, while entry-level roles might start around $60k–$90k, and senior positions (like CIO/CFO) can exceed $300k total compensation. Bonuses significantly boost total pay, with significant jumps after passing each CFA exam level. 

Can you become a CFO with an economics degree?

CFO Education Requirements

CFOs typically hold a Bachelor's degree in finance, accounting, economics, or a related field. Many also pursue advanced degrees such as a Master's in Business Administration (MBA) to enhance their skills and credentials.

What makes more money, econ or finance?

1. Earnings Potential & Bonus Structure. The median finance base pay is around $ 101,000, yet bonuses frequently increase total income by 28% or more; economists enjoy steadier salaries of around $115,000 with modest incentives.

Is it hard to get an A* in economics?

As you can see, Economics A Level isn't a walk in the park. But with the right preparation, hard work and support, there's no reason why you can't ace it. Here are our top tips for how to pass Economics A Level with the best grade possible.

Who hires the most economists?

These firms offer advice to and predict economic scenarios for individuals and large corporations, and occasionally act as consultants to branches of the government. However, universities and research groups remain the largest employers of economists, followed by the government.

Is a 3.6 GPA bad for investment banking?

A 3.6 GPA isn't considered "bad" for investment banking but sits at the lower end of the competitive range, often seen as a minimum threshold for target schools, with many successful candidates aiming for 3.7+; however, strong networking, relevant internships, and extracurriculars highlighting finance interest can significantly compensate, especially if you're from a non-target school or have a harder major. 

What is the hardest bank to get a job at?

Getting hired at prestigious investment banks like Goldman Sachs or JP Morgan proves incredibly difficult - their acceptance rates can be as low as 0.8%. Goldman Sachs received 236,000 internship applications in 2022 and selected just 1.5% of candidates. Life doesn't get easier after landing the job.