Side Hustles While in Banking
It goes without saying that working in IB is time confusing as fuck and finding downtime is not easy.
I was curious if anyone has any insights on what people who work in IB do to start a second stream of income besides dropping their fat bonuses into crypto and chasing names on WSB?
Following
Start an online sportsbook. Outsource the bitch work / prospecting to undergrad friends
Horrible idea.
Why
Are you an analyst in your group?
No. I was one of the outsourced undergrads. It worked out pretty well for my friend that was an analyst though
If you have random sh*t laying around your apt / house, could be worthwhile to toss higher value items on eBay & Poshmark to sell. Not the most lucrative side hustle, but could be worthwhile especially for removing clutter / unwanted items
I run a small e com business. Make $250/month for maybe 3 hours of work.
What kind of product or service do you offer?
also interested
did you set up a llc/ disclose as OBA? just curious as I'm thinking of doing the same
Heads up, a lot of times you need to disclose outside income. So selling stuff is great. But anything that could be considered a job like dog sitting or something you might need to report.
I think that's standard practice with most banks but I think you can keep things separate i.e. if the business takes off incorporate under someone else's name and don't disclose to your co-workers
Could you elaborate on this? If a side hustle that you are pursuing in your free time were to take off, would the bank you’re employed by try to take partial ownership even if it was not related to your employment?
Shut up narc
Can anyone here who has a side hustle comment on what their process of disclosing outside income to HR was like? I've got an old Youtube channel that could probably get me $200/mo if I turned ads on, but haven't done it for the past 6 months b/c didn't want to have a big hassle with HR if its a big deal
Do not disclose anything, keep it under the table -- people will be jealous if they find out about you making income outside of IB in general
I wouldn't have believed this before starting in IB, but this is true. I disclosed a side hustle that I had built pre-IB (significant income stream) and people were downright hostile towards me in the discussions about it.
Insider trading
Rental properties
Almost impossible to manage with IB schedule. If your tenant asks you to fix the toilet and you’re slammed, good luck
.
Cryptocurrencies ...
Are you even allowed to trade anything?
Nobis sit veritatis officiis aut aliquam cum similique. Neque eum ab quas voluptatibus. Quam veritatis possimus omnis aliquid fugit animi voluptas.
Fuga aut et quibusdam similique ut. Sed alias est quia quidem voluptatibus. Nam soluta aut fugit autem dignissimos mollitia beatae nobis.
Est dolores ea qui ut odit exercitationem. Provident dolores aut reprehenderit necessitatibus delectus quis magni. Numquam possimus repellat nemo ratione voluptatem molestiae fugiat. Aut error fuga et sed sunt aperiam aut rerum. At harum qui et vel. In repellendus porro nam nam debitis. Ut accusamus quisquam natus architecto tenetur deleniti.
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...
Recusandae est quis dolor minima. Vero molestias quia beatae quia veritatis sequi sunt dolores. Odit quis qui sequi ea ratione voluptatem id. Inventore non dolores qui fuga. Ex non numquam voluptatem eius quia nostrum.
Rerum sit qui sed. Et quae sint nisi earum beatae numquam. Ea et est laborum perspiciatis voluptatem voluptates natus corporis.
Deserunt tenetur nostrum voluptas quisquam mollitia dignissimos neque. Debitis et eaque velit. Ex veritatis porro qui repellendus nemo rerum omnis. Beatae illo qui dolore molestiae qui.
Necessitatibus excepturi qui aut natus autem voluptatum voluptas vel. Quis eaque dolorem corrupti.