Series 7 and 63 for Analyst Program

Hello,
I am starting a full time Analyst position in NYC this summer at a BB Private Bank. I know that I will need to take the Series 7 and pass. When will I need to take the exam (ie. within a few months of my start date)? Can I take it before I start my position? Am I supposed to be "sponsored" or anything like that (I thought someone mentioned something like that to me)?
Also, will I need to take the Series 63?

I know HR will tell me everything I need to know soon, enough. I'm just hoping to get a leg up now that I'm taking an easy course load second semester.

Thanks very much for your help.

Comments (20)

Jan 30, 2011 - 3:13pm
kahuna4637, what's your opinion? Comment below:

For S&T after the training period (for us 4 weeks) they then give us 2 weeks to study and pass the 7 and 63 before we hit the desks. I wouldnt worry to much about it and I dont believe you can take it earlier (think you have to be sponsored), at least ive never heard of people taking it before they start. You will definitely need it prior to working, however the bank will give you time and materials to take and pass.

Jan 30, 2011 - 3:20pm
Frieds, what's your opinion? Comment below:

1) Use the Search Function.

2) Some Asshole wrote up a general guide to licensing that made the main page. I'd suggest you read it. That should cover your basics...

3) To answer your questions... 3 Months, Yes and Yes.

Next time, don't ask a question to which you'll get a curt answer for.

  • 1
Jan 31, 2011 - 4:07pm
D M, what's your opinion? Comment below:

Frieds, I get all hot and bothered when you lay down the law like that.

"You stop being an asshole when it sucks to be you." -IlliniProgrammer "Your grammar made me wish I'd been aborted." -happypantsmcgee
Jan 31, 2011 - 4:08pm
ryanmonkey86, what's your opinion? Comment below:

Exams, Series 7, Series 63? (Originally Posted: 06/25/2012)

Can anyone explain what are the tests you need to pass when you begin work in IBD (I've heard Series 7 and 63?). Is this an exam that all finance professionals in the U.S. must take? Are these tests only for sell-side financial professionals?

Jan 31, 2011 - 4:10pm
Frieds, what's your opinion? Comment below:

This has been asked already. In fact, I wrote a rather lengthy post going through all of the damned exams you might have to take. Did you consider using the search function? This shit has been repeatedly asked (and this is less anger that I'm used to doling out pointless shit like this however that's not important). Since I can find THIS GREAT POST by searching for any of the FINRA exams, you should have been able to too.

Christ man... kids today.

  • 1
Jan 31, 2011 - 4:12pm
Johnny Ringo, what's your opinion? Comment below:

Overheard on the subway the other day by younger (maybe interns)

"The S79 is like 11x harder than the S7 thats why it has such a high number"

Eventus stultorum magister.
Jan 31, 2011 - 4:15pm
WannaBIB, what's your opinion? Comment below:

Series 7 and 63 - Quick question about the sponsorship (Originally Posted: 10/09/2013)

Hey all,

I'm not sure if there has been a discussion on this before becaus the search button isn't working.

Just a quick question about Series 7 sponsorship. Do you have to work for a firm in order for them to sponsor you to take the exam? Is it possible to get sponsored by a firm you don't work for?

Thanks for any responses in advance!

" The art of good business is being a good middle man" - Eddie Temple (Layer Cake)
Jan 31, 2011 - 4:16pm
BigSwingingDave, what's your opinion? Comment below:

Just a quick question about series 7 sponsorship. Do you have to work for a firm in order for them to sponsor you to take the exam?

Yes.

Is it possible to get sponsored by a firm you don't work for?

No.

Best Response
Jan 31, 2011 - 4:17pm
Bullet-Tooth Tony, what's your opinion? Comment below:
BigSwingingDave:

Just a quick question about series 7 sponsorship. Do you have to work for a firm in order for them to sponsor you to take the exam?

Yes.

Is it possible to get sponsored by a firm you don't work for?

No.

I don't believe the second response is incorrect. Smaller boutique IBs tend to partner with B/Ds whereby the registered rep is employed by its boutique firm but acts as a representative under the supervision of the B/D.

It's similar to the concept of someone working for ML. They are a ML employee and get paid by ML, but the B/D is Pierce, Fenner & Smith, so that is who they are a registered rep of.

Most of the smaller firms aren't going to own a B/D in-house if they are solely M&A/Capital Markets shops.

Jan 31, 2011 - 4:19pm
WannaBIB, what's your opinion? Comment below:

Thanks for the responses guys.

I currently work in a back office position at a large bank but I have been talking with someone at a broker dealer firm whose comapny will be starting a large hiring phase in December.
My thoughts were to ask my uncle (fixed income sales at a small boutique) if there was anyway his firm could sponsor me to take the exam so that I would have the license when I go in for the interview. I just wanted to see what people had to say about that on here before I asked.

Doesn't look like thats going to work lol.

" The art of good business is being a good middle man" - Eddie Temple (Layer Cake)
  • 1
Jan 31, 2011 - 4:21pm
Bullet-Tooth Tony, what's your opinion? Comment below:
WannaBIB:

Thanks for the responses guys.

I currently work in a back office position at a large bank but I have been talking with someone at a broker dealer firm whose comapny will be starting a large hiring phase in December.
My thoughts were to ask my uncle (fixed income sales at a small boutique) if there was anyway his firm could sponsor me to take the exam so that I would have the license when I go in for the interview. I just wanted to see what people had to say about that on here before I asked.

Doesn't look like thats going to work lol.

That could work, but as BigDave was saying, it probably doesn't make much sense. Most firms are fine with giving you 90 days (or longer) to obtain the licenses.

Jan 31, 2011 - 4:24pm
pioneer, what's your opinion? Comment below:

Like others have said, for entry-level positions the firm will sponsor you and have you take the exam once you've joined. The only upside to getting it earlier would be signaling that you're interested in the business and eager to learn. Honestly though your best bet is researching more about what the job entails and working to make sure your skill set is a match. For example if the job is technical you're far better off improving your programming and math skills than taking the Series 7.

These exams are more a regulatory requirement than a credential. Passing the Series 7 is probably the easiest thing you'll do in your career as a trader, and the information you learn is mostly geared toward advising clients.

If you really want to take the exam, prop arcades will hire anyone with a heartbeat and sponsor you, though they might have guys taking the 55 now.

Jan 31, 2011 - 4:20pm
WalMartShopper, what's your opinion? Comment below:

easiest way is to go to a life insurance chop shop that will take anyone. it will be on your permanent U4 however so most likely a last resort. if you're in bo it might be worth it.

If the glove don't fit, you must acquit!
Jan 31, 2011 - 4:22pm
shorttheworld, what's your opinion? Comment below:

some firms are uber anal about it and need/want you to have the S7 and S66 before hand -- the 63 65 66 you can take on your own time but the S7 you need sponsorship for.

there are some places that you can arrange to be a part time broker through and just pay all your fees up front and then you can get sponsored for your 7 but those registration+test fees will cost between 1200 to 1800

Jan 31, 2011 - 4:23pm
shorttheworld, what's your opinion? Comment below:

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