I would say most of the people in my uni degree didnt have electronics as a hobby. They may have found it interesting when exposed to it but didn't really make the effort to pursue it more. At least this guy is taking the next step. Luckily, learning practical electronics will at least be faster having done all the electrical and electronic theory courses.
But how many of them actually got jobs in electronics design? If I were interviewing candidates, then any candidate who couldn't describe in considerable detail what projects they had designed and built and tested would be ruled out within the first few minutes of the interview.
Probably none of them got jobs in electronics design. But like I said, at least this guy is taking the next step in learning more and aquiring stuff. It really doesn't take much time to build up some interesting project. Get it posted on a website like hackaday and you have some pretty good resume/interview material.
Regarding the OP here are the bare essentials:
Multimeter: I like the UT61E, best bang for buck, costs $60USD. Search for it on the forum, its not perfect but its very very good. You should probably have more than one multimeter
Soldering station: Get a soldering
station, something that has interchangable tips and temperature control
Power supply: Get a power supply with constant voltage and constant current if you're the least bit serious. Those LM317 based power supplies work but IMO you'll get sick of it pretty quickly.
Breadboard: These cost peanuts on eBay. The ones with binding posts for power are convenient if you feel you use breadboards a lot.
Components: Get resistor kits, capacitor kits, and various common ICs like opamps, regulators. Also physical components such as headers, binding posts and connectors. Usually it takes quite a long time to aquire a good selection of components.
Salvaging components is also a good idea. Don't bother salvaging crap like common resistors, they aren't worth your time. But stuff like big capacitors, inductors, transformers and physical components are.
Microcontroller: If you want to get into micros get a board like the Arduino, MSP430 or PICkit
Don't rush out and buy an oscilloscope and think its the very first thing to get. Once you've got the bare essentials then you can start thinking about the more expensive stuff. A scope can be very, very useful but I beginners seem to think its a magical diagnostic tool that will instantly solves their circuit's problems.
Some of the stuff beyond bare essentials:
Oscilloscope
Hot air station
Bench multimeter
LCR meter
Signal Generator