Series 7 Shortage?

Discussion in 'Professional Trading' started by Churn4Fun, Nov 17, 2006.

  1. I was bored the yesterday and decided to update my online Monster resume to include the fact that I have my series 7 license.

    I get home from work and have 8 messages, all from recruiters or brokerage firms looking asking me to come in for interviews. This is a 2 year old resume that hasn't been updated since I graduated college, w/ almost no work experience.

    Later, I check my email, and have 10 emails (mostly generic) from various brokerage houses asking me to come in....I've never felt so loved :)

    Is there a Series 7 Shortage? I have no interest in "selling" anything other than my ability to generate wealth by trading, but it seems everyone is looking for stockbrokers.

    Anyone who loves calling people begging them to invest w/ you, or for appointments, get your Series 7...you'll have a job in a heartbeat.
     
  2. well this sucker rally was a big fishing expedition for suckers. And so far it's been a great success! All aboard the long only train, never fade the government! :D
     
  3. Drew07

    Drew07

    A buddy of mine has been studying to take an exam for his real estate liscense and posted this in his resume on Monster. He's a college student with minimal real estate experience. Within the next few days he got a ton of emails from Century 21 and a bunch of other big companies in town. They must just send out mass emails to anyone with certain keywords in their profiles.
     
  4. If you already have your 7 that saves a company LOTS of time and money - they can go straight to teaching you how to sell. Having your 7 already can be valuable if you want to become a telemarketer ... I mean, Financial Advisor. :D
     
  5. toc

    toc

    There is 70% attrition rate in stockbroker type employment, and besides while you are a rookie, you will be doing the 'real dirty' work of begging rude strangers for money or handling really small nuisance type accounts. It does not cost the firms much to give somebody a test run.
     
  6. All they are probably interested in is for a retail salesman (i.e. professional liar.) Search around on this site for advice on how to get into a trading position. If you have enough of your own capital, look at a Prop firm like Bright in order to get some training.

    My guess is that you don't have enough saved up to trade on your own, and are looking to get into a trading position with a firm that will teach you and pay you a small salary at the same time. I wish you the best of luck, but there are a million other young guns looking for the same deal. The odds are against you in this case. Don't give up your current day job, and for goodness sake don't become a stockbroker.
     
  7. I actually already have a trading position....I've been trading at a prop firm for about 1.5 years and looking to start trading my own capital next month. I've been able to put up decent numbers w/ about $200K (4 to-1 margin), so about 50K should be adequate, but would eventually like to get into one of the larger brokerage firms working under an institutional trader or market maker.

    Scouring the positions on monster and careerbuilder, it seems I'll need to add a MBA, CFA, or a PhD in Math to land a job at any of those firms....until then, the prop trading is my day job :)