If you look into who is hiring and what in the industry, you would change your opinion. A finance degree would get you nowhere. Math, physics, quant and computer science is what counts. Hate to break it to you, but those shops have long moved toward quantitative trading and would look for the same type of applicants, math & programming background (unless you have good trading experience). They might look applicant outside that box simply because of great grades but not likely. Putting those places aside in a separate category, the next and most likely step is the arcade prop shop, which simply requires money to put down and nothing more.
You're confusing my arguments, I was speaking about HFs and quantitative degrees. Most HFs do not require mathematics/CS background. On the other hand, yes quantitative backgrounds are well suited for Prop Firms (engineering, math, CS, etc). Although I can tell you from firsthand experience they will look at any applicant, including finance and economics majors. If he goes to a target school, then an arcade shop shouldn't even be a consideration. Focus should be on: Legit Prop Firms, HFs & S&T at Banks.
You gotta be realistic. It's competitive out there. A finance/economics degree is subpar. Hedge Funds of today are aiming at quant strategies with minimal discretionary trading. It's the same at true prop firms. Regarding what is required or not, well, a look through the HF job listing might change your outlook. I don't think I would say required, but preferred is a better description. Which in today's environment might as well mean required.
I work in the industry, have recently gone through the process and so have many of my friends, and help recruit for the firm. Sure, its competitive, but if you think the only people getting jobs are math/engineering/CS majors you are mistaken. Most times, the degree is not nearly as important as the connections.
Well now, no need to repeat the obvious truths. I think we are talking of a situation without connections. I'm in the industry as well and the bottom line is that a finance/economics degree brings nothing to the table. More specialized degrees are highly preferred. You have to be realistic. It's like going to battle. Do you want to go in with a pistol or with an assault rifle? It's not impossible to win with a pistol, but the obvious likely outcome is not a good one.
I disagree, they look for intellect, drive and passion more so than a particular degree. There are so many finance majors recruited in the industry, heck my buddy was a management major. In reality, you're not going to draw on much of your studies in trading anyway. Either way, let's just call it agree to disagree haha.
I'm surprised no one has mentioned this before, but you need to be sponsored to write the series 7 anyway. And yes for you it's not something you should even being to worry about while still in school....on an unrelated note last weekend I did the con't education for the series 7, talk about a waste of time....
Just worry about staying in school. You can paper trade while you study for your S7. Then throw all your graduation money into an prop account and have at it. I also suggest dumping your girlfriend and moving back to your parents to cut costs.
ignoring "prop firms", if you intend to work in the financial industry, a Series 7 is helpful, regardless of what some say. IN fact, often the S7 is listed as required or preferred.