Good call cubsguy81... I was thinking the same exact thing. My only guess here is that some people don't just want the money or the success of being a consistent and very profitable trader...they also want the prestige, pride, and/or hype (or whatever you want to call it) that comes from being able to say that "GOLD" (no pun intended) sentence...
"I'm a Trader with GS"
or maybe...
"I'm an Equities trader at GS"
Or all it's other various incarnations.
You have to admit that it does sound pretty impressive and does roll off the lips pretty smoothly
NICE!however...
I speak for myself when I say I don't think its worth all the extra effort and time especially if GS is looking for an advanced degree as opposed to just a BS.
I say finish the BS because you are almost done and you never know when you may need that degree to get into another field. You only have a year left (for crying out loud) i.e. so dont turn back now! You can frame and hang it on your wall for all to see but I would not do it just because it gets me into GS but hey...thats me.
The only "real" difference between a GS and lets say Bright Trading, Hold brothers, Assent...etc. is huge capital backing and the opportunity to maybe run a major hedge Fund...If you plan on running a hedge fund worth in the hundreds of millions of dollars then GS is the best option but if you can be satisfied with lets say a million or two of income a year then why bother?
Besides that... if you can make 74% or more every year; you can always start your own hedge fund and keep more of the profits than you could otherwise at GS. My guess is that there people who have built funds into the hundreds of millions of dollars from scratch. Why share all that with a firm? Though the network of contacts and clients you form at GS may be of great use one day if you are trying to raise capital to open your own Hedge Fund. Your audited track record is of the most importance here.
Again... you only have a year left! you might as well finish the degree because it would be a shame not do that with only a year left... though guys like Michael Dell and Bill Gates may have thought differently about that.
The way I figure it and I speak strictly for myself here, as long as I'm making really good money with a decent reputable firm, (it does not have to be the GS's of the world) then this is the bottom line. If finishing a degree was required to be a trader... THEN YOU CAN BET YOUR ASS! that I would have finished my degree but I had 3 years left to go ( not 1 like you ).
There are firms out there that want the fancy pedigree, the high GPA, the advanced degree from a fancy Ivy league college majoring in math, physics or economics, you know... the whole nine yards.
Im glad that there are good decent firms out there whose greed has allowed them to lower their entry standards. Hey... it works for me and many others.
It was my dream to be a trader.
I was estatic the day I find out that there were firms that require nothing more than a Series 7, a burning desire to succeed and a moderate and reasonable capital contribution. Heck, if it were not for the leverage I can get, I would not have bothered to get the Series 7 either... Though Im glad I have it now as I think things are going to change in that regard.
The firms that dont require the Series 7 AND are registered require way too much capital for the average person to cough up.
If any one knows of a reputable firm thats registered with the CBOE, requires no more than 10K to 15K and gives at least 10-1 leverage, please send me a PM. I know some people that are intrested in this kind of setup.