Remote Investment Banking Analyst positions - how many of you actually do this?
I've seen so many linkedin postings about "remote investment banking associate/analyst" positions paying 120-150/hour. I wonder who actually does this? I mean the positions you see on linkedin from mercor and what not.
i must say im convinced given employee contracts and finra/disclosure requirements that doing remote side hustles like this is a violation? but im wondering if anybody has thoughts on this and if you have seen cases of people doing side gigs on the job and getting in trouble?
Based on the most helpful WSO content, remote investment banking roles, especially those advertised as high-paying hourly gigs, are a topic of skepticism and debate. Here are some key points to consider:
Legitimacy of Remote Roles: While remote work in investment banking has gained traction, especially post-pandemic, fully remote roles are still rare in traditional IB settings. The industry often emphasizes in-office collaboration due to the nature of the work. Positions advertised as "remote" with high hourly pay may warrant scrutiny, as they could be misleading or not aligned with standard industry practices.
Compliance and Contracts: Engaging in side hustles, especially in finance, can indeed violate employment contracts and regulatory requirements (e.g., FINRA disclosures). Many banks have strict policies against outside employment without prior approval, as it could lead to conflicts of interest or breaches of confidentiality.
Risk of Side Gigs: There have been discussions on WSO about individuals attempting side gigs while working in IB. However, the consensus is that the risks often outweigh the rewards. Getting caught could result in termination, reputational damage, and potential legal consequences.
Practicality: The demanding nature of IB roles makes it challenging to juggle side gigs. The long hours and unpredictable workload leave little room for additional commitments.
If you're considering such opportunities, it's crucial to thoroughly vet the legitimacy of the role and consult your employment agreement or compliance department to avoid potential pitfalls.
Sources: The best of the back (or middle) office?, 100% Remote Work in Investment Bank - Is It Possible?, Be wary of greener grass; there are always tradeoffs..., Cantor Fitzgerald cancelled all SA 2020 internships without giving out auto return offers, Leaving IB to read books for a year and maybe join a start-up
Bump
Bump
Et repudiandae ea nemo accusantium porro. Recusandae voluptatem dolor qui ut sed. Ratione assumenda quia et.
Dolor fuga provident quo eius dicta quia aut laborum. Et occaecati sint quibusdam. Sunt omnis qui nostrum repudiandae. Odit aut dolores aut ut. Nam corrupti voluptatem beatae est voluptates cum doloribus. Ad qui nobis error consectetur. Ut earum veniam dolor.
Est ratione pariatur enim laboriosam. Voluptas ipsum perferendis et iure. Ab cupiditate molestias facilis neque sint.
Itaque ducimus dolor tenetur. Repellendus voluptatum quo at. Doloremque temporibus eos natus reiciendis esse quia. Distinctio facilis et voluptatem illo sint fugiat esse. In facere necessitatibus est eos soluta.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...