A college degree may make things easier, but many management jobs can be had if you're willing to put in the time.
I spent twelve years at a super-regional bank nine as a grunt, three as a manager overseeing a nightly $500 million dollar deadline. I eventually had to leave because anxiety and high-blood pressure not related to the job got to me.
My wife worked six years in collections, moved onto tele-communications as a grunt. Spent less than a year and is now in a leadership position and eyeing bigger things.