Disclose side hustle?
Hey, I'm going through a recruiting process now and getting pretty close to a contract (been mentioned/pretty confident it'll happen)
I have a partnership with a good friend of mine where we run an API for a number of Fintech companies (all very early stage, would give more info but don't want to dox myself). We don't charge anything yet but process around 30,000 transactions/month (very small for the industry) and could theoretically start charging people. I haven't talked about it in interviews as it's really a low-time investment (sporadic calls with company CEOs to sell the product, my friend is building it) and I could theoretically stop whenever.
At what point should I disclose it? Do I need to?
Curious about what other people have done in the past regarding side hustles/businesses. Obviously, I haven't seen the contract so no idea about any clauses but don't want to risk anything going wrong.
Don't disclose no upside
Don't some contracts include disclosures regarding other sources of income? If I'm not making money would I just disclose if/when we're charging companies?
The only time when it would be chiller to disclose is if you are interviewing with the CEO of a startup for a job with a startup
Also why not just go balls deep with this business venture if it's already working in terms of finding clients. What are you doing looking for a normal job
I've already built a company and raised VC money and I'm looking to get some equity research experience (hoping to move to a HF) as the startup world isn't necessarily my thing I don't think.
I don't think there would be a ton of upside.
On the one hand, it shows initiative, which is good. On the other hand, it's going to open up a pandora's box of "is this going to affect your focus on this job?"
The interviewer only cares about how you will help increase their paycheck or reduce their workload; while cool and impressive, this does neither for them.
Very fair! So do you think once offered a contract (assuming it includes a no-moonlighting clause) I would disclose it at that point? Or would they ask me to disclose any sources of income? This would be an ER role.
I would only disclose if you are required to. I'm not sure of specific requirements, but I would just consult the employee handbook stuff.
I think you should be in the clear because it doesn't seem to be competitive to your role, just be careful with the companies you may cover.
Don’t disclose until you signed a full time offer and start filling out a U4. At that point, all you’re doing is notifying the firm. Then make sure you say you do not work on your side hustle during market hours.
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