Is refusing to marry someone of lower professional, academic, or financial standing considered arrogance, and what is the Islamic ruling on this way of thinking?

The most preponderant view is that the only compatibility (kafa'ah) considered between spouses is religion. However, it is recommended to have closeness in other matters to facilitate understanding. There is no harm in rejecting a suitor who is not compatible in lineage, knowledge, or social standing, and this is not considered arrogance. Nevertheless, it is advised to accept a person of good religion and character, based on the Prophet's (peace be upon him) saying: "If there comes to you one whose character and religion you approve, then marry him; otherwise, there will be tribulation on earth and widespread corruption." It is sufficient to know the suitor's religion and character through a strong presumption, inquiring about him, and performing Istikhara (prayer for guidance).