Thoughts on Overemployment?
Not sure if anyone has seen this before, but think its pretty interesting.
https://www.reddit.com/r/overemployed/
Basically the idea is to work two (or more) chill remote jobs without them knowing about each other. Just a hypothetical, is this even possible in corporate finance? How would this compare to IB in terms of comp, wlb, and exits?
Obviously pretty unethical but interesting that ppl do this
Based on the WSO Dataset, the concept of overemployment, particularly in the realm of investment banking or corporate finance, presents a complex scenario. Here's a breakdown considering the aspects of compensation, work-life balance (WLB), and exit opportunities:
Compensation: Investment banking is known for its high compensation levels, driven by bonuses that significantly exceed base salaries. Corporate finance roles, while offering stable income, often don't match the potential earnings in investment banking. Engaging in overemployment could theoretically increase one's total compensation by drawing salaries from multiple sources. However, the feasibility of managing two demanding roles simultaneously without a decline in performance is questionable.
Work-Life Balance (WLB): Investment banking is notorious for its demanding hours, with professionals often working upwards of 80-100 hours per week. Corporate finance roles typically offer better work-life balance but can still involve periods of high demand, especially during the financial close or budgeting seasons. Overemployment, especially in fields requiring high commitment and irregular hours, could exacerbate work-life balance issues, leading to burnout.
Exit Opportunities: Investment banking provides a robust platform for high-profile exit opportunities, including private equity, hedge funds, and corporate strategy roles. Corporate finance roles can also lead to significant internal advancement and opportunities in financial planning and analysis (FP&A), treasury, and CFO tracks. Overemployment might hinder one's ability to fully engage in networking, skill development, and the high-performance standards required to secure these competitive exits.
Ethical Considerations: Beyond the practical challenges, overemployment raises ethical questions. Most employers expect full-time commitment and have policies against holding concurrent full-time positions. This practice could lead to conflicts of interest, diminished performance, and, if discovered, damage to one's professional reputation and legal consequences.
In summary, while the idea of overemployment might seem appealing from a financial perspective, the practicalities in high-stakes fields like investment banking and corporate finance make it a risky and ethically dubious strategy. The potential for increased compensation is outweighed by the risks to work-life balance, career development, and professional integrity.
Sources: 100% Remote Work in Investment Bank - Is It Possible?, 100% Remote Work in Investment Bank - Is It Possible?
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