Applying for a Job in finance without a top school degree: mission impossible?

Finance professions attract thousands of students every year. Investment banking, private equity, asset management or transaction advisory are appealing for their high salaries, strategic exposure, and prestige. Yet, a common belief persists: without going through a top school, the doors are closed. So, applying in finance without a degree from HEC, ESSEC, or Polytechnique: mission impossible or a challenge worth taking on?

An elitist industry… but in transition

Historically, the French finance sector has been marked by a strong elitist bias. Major firms and investment banks recruit heavily from the top business and engineering schools: HEC, ESSEC, ESCP, Polytechnique, CentraleSupélec, ENSAE… These institutions offer quality internships, a powerful alumni network, and a reassuring image for recruiters.

But this logic is starting to shift, for several reasons:

• Diversity goals are pushing recruiters to open up to other profiles.
• The demand for talent sometimes exceeds traditional pools.
• Technical skills (modelling, financial analysis, VBA, Python) have become as important as the school name.
• Finally, the rise of alternatives to the traditional path (bachelor’s degrees, university master’s, certifications, bootcamps) creates new entry points.

Read more : A career in finance : Careers and training

How valuable is a non–“top school” profile on the market?

It all depends on ambition, preparation level… and strategy. In M&A or private equity, competition remains tough. Banks receive hundreds of applications for one internship. Without a top school degree, you’ll need to compensate with:

• Hands-on experience: internship in audit, consulting firm, management control, start-up or SME.
• Technical skills: knowing how to build an LBO, model a DCF, mastering Excel and PowerPoint is often more valuable than the diploma itself.
• Networking: LinkedIn, finance events, student forums… networking is a tool to bypass standard applications.
• A coherent story: an atypical path, well-presented, can spark interest. Showing motivation, understanding of the sector’s challenges, and eagerness to learn is key.

Inspiring paths do exist

Many finance professionals come from universities or alternative backgrounds. Some started with a DUT in business or a BTS in accounting, followed by a university degree in finance, and eventually joined a selective master’s program such as Paris-Dauphine, IAE, Paris 1 Panthéon-Sorbonne, or even Skema or Neoma through lateral admissions.

Others studied abroad or enhanced their profiles with recognised certifications like the CFA, CIIA, or specialised bootcamps.

The message is clear: your original degree doesn’t determine everything, but you will need to work harder to prove your worth.

Which roles are more accessible?

Not all finance roles are equally exclusive. Here are a few areas where entry barriers are less rigid:

• Audit and transaction services: often more open to university master’s graduates or work-study backgrounds.
• Corporate finance / management control: highly accessible from IAE or public master’s programs.
• Fintech and data analysis: technical skills can outweigh academic pedigree.
• Asset management / middle office / risk management: many roles are accessible with a strong finance master’s degree, even without a top school name.

However, for the most coveted roles like M&A in major banks or private equity, competition is fierce. You’ll need to be clever, aim for smaller firms to start with, or try your luck via a VIE, a well-chosen gap year, or a strategic final-year internship.

Read more :  VIE in Finance: a career opportunity or a dead end?

A few tips for success

• Highlight every experience: even an internship in an SME can teach you how to analyse a balance sheet, follow a fundraising round, or speak with investors.
• Train yourself on the side: platforms like Trainy, Wall Street Prep, the Vernimmen…etc can boost your profile.
• Prepare interviews thoroughly: recruiters want people who understand the issues, not just “perfect CVs.”
• Always network: every LinkedIn message, every meeting can make a difference.
• Target wisely: aiming straight for Rothschild or Lazard without a solid background is tough. Start with more accessible firms (M&A boutiques, audit firms, family offices) and work your way up.

Conclusion: no, it’s not mission impossible

Breaking into finance without attending a top school is certainly harder, but far from impossible. The industry is evolving, recruiters are opening up, and skills are increasingly valued over degrees.

The key? Have a clear strategy, prepare well, and most of all, believe in your worth. In a sector that values performance, a determined, competent, and well-structured profile will always find its place.