The characteristic polynomial of any $n\times n$ matrix is of degree at most $n$, and the matrix is a root of that polynomial.
Since the minimal polynomial of a nilpotent must divide $x^N$ for some $N$, and it also divides the characteristic polynomial, you have that the minimal polynomial is of the form $x^k$ for some $0\leq k\leq n$.
Geometrically, another way to look at it is that, viewing a nilpotent matrix $T$ as a linear transformation of $V=F^n$, $V\supseteq T(V)\supseteq T^2(V)\supseteq\cdots\supseteq \{0\}$ is a descending chain of subspaces of $V$.
Now, it cannot be the case at any point that $T^k(V)=T^{k+1}(V)$, because if that were the case, the chain would remain stable and would never reach zero no matter how high $k$ goes.
So the chain is a strictly descending chain of subspaces of the $n$ dimensional space $V$. Then at each link, you must decrease by at least one dimension. But no chain in $V$ is deeper than $n$ links, so you are guaranteed it will take no more than $n$ applications of $T$ to reach zero.