What is a good time to take the series exams for an undergraduate student
Hey all,
I am a sophomore in college aspiring to be an investment banker. I was reading up on the series exams, and was wondering when should I start thinking about taking these exams. I know I am required to have a sponsor for the series exams, so when would be an ideal time to take them? I plan on getting an internship at a firm in the coming winter, so I am sure I can get a sponsor somewhere down the road, but I would like to know when the ideal time to start studying for these exams would be. Any study tips for these exams would also be much appreciated!
Thanks!
The curriculum for the series 7 is changing coming this October. You will now have to take the SIE exam before you are able to take the series 7. Even though you now will have to take 2 tests, it will be shorter and you will also be able to take the SIE whenever you want, no sponsor required. I would recommend taking this during your junior or senior year if you have time to study and then once you have a full-time offer, work on that sponsorship for the series 7. It kinda stinks to have to wait, but I think this is the easiest and fastest way to go about it! Good luck in the future!
Thanks a lot for the info!
Series 7 in college years (Originally Posted: 06/21/2013)
I am currently going into my junior year at a non-target school in NY. I plan on going to grad school for my MFE, considering I am a math and finance major. I wish to pursue either prop trading or algo trading for energy, tech, or oil stocks/companies.
Would anyone advise for or against taking the 7 at such a young age (19y/o). I have what it takes to pass the exam, but I am not sure if I should take it, being that a firm that hires me may want to teach me how to trade "their way" rather than me teach myself about it.
However, I think having the 7 could be beneficial to put on a resume, considering a hiring firm won't have to take the time to have me study and pass the exam if it is already passed.
Let me know your thoughts.
It's good to know you have what it takes to pass the exam, yet you seem to know nothing about it. You have to be sponsored by a broker-dealer to take it.
It also has nothing to do with trading from a front-office perspective. It's about representing customers properly.
Stop watching Boiler Room
I'm working for a firm under FINRA right now and would be sponsored to take it. But do I need it for algo trading or stuff like that
It would be pointless for you to take it because it is only good for 2 years and then you have to do continuing ed... Won't be much benefit to you in college
Well if you're an intern the firm is not going to sponsor you. It's expensive for them and time consuming for you. The 7 allows you to trade client assets, but it doesn't teach you anything about trading and cerainly not anything related to algo trading. The exam is honestly a joke and its difficulty is laughable. It's not really going to strengthen your resume all that much. Anyone can pass it.
Sure, go for it then. It doesn't matter much in the grand scheme of things, but you would need it for sell-side algo desks.
Being a bankers is not bad, but it is not quite profitable and in demand these days. This profession is no longer relevant. In the modern world, everything is computerized and even banks. So I would still advise you to get an IT education. First of all, it is relevant and will not go out of fashion soon. Secondly, education opportunities are now very different and you can get a certificate without leaving your home. For example, https://cciedump.spoto.net/</a">Cisco Certifications, a company that has proven its high level of training in Internet technologies. They give you an education from the best teachers and a certificate with which you can work anywhere in the profession. They have a lot of educational options and packages and you can always choose the appropriate option. Their certificates are prestigious. Think about it and I hope you make the right choice.
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