There's one trick here...
I don't know if it's a bug or not, but everything and everyone can be upgraded to Master (there is no Mage Guild here).
Meaning, a Sorcerer will become a master of the bow, etc.
Similarly, Paladins and Druids will become masters of Elemental and Ego magic respectively.
This is most likely a bug, as the teachers say something completely different.
The only thing is that any Sorcerer and Cleric can take Dark and Light magic (but only them), while a Knight can correspondingly take one and dump all non-magical skills onto him.
Basically, the final party could look like this:
Knight, Sorcerer, Cleric, Druid.
Also keep in mind that the magic system is somewhat different; for example, Lloyds Beacon can be obtained at level 1. And there is no alchemy as such. Although you can mess around with flasks, recipes are not recorded in the journal, nor is the location of teachers. But that's not the main thing...
It's no wonder most people consider the 6th game to be the best in the series.