Side job while in IB?
Hey everyone,
I work in IB and recently got approached by the firm I interned at my freshman year of college. I got offered to do some "side work" for them that would only take a few hours a week and it would be paid. I definitely can make some time for this on the weekends, but wanted to hear some of your thoughts on how this would work with my current employer. I assume I have to disclose this, but if I don't, what is the likelihood that my employer would find out, given that it wouldn't disrupt my current work performance? Additionally, has anyone ever took on a side gig while working in IB? How was it? Any other advice?
Thanks in advance for any guidance.
FYI: The company I interned at my freshman year is small and I would never cross paths with it or its competitors in my current job.
Wouldnt that be considered an OBA? You’d have to notify your firm
You would have to disclose the activity to your firm, per FINRA rules.
Correct.. and also, old employer might not have an issue but what about your current employer
Yup. Had a quick FINRA exam flashback the second I read this topic.
Bad idea
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If you have time sleep, go to the gym or spend time with your gf/friends.
Just don't do this. Any free time you have on the weekends should not be working another job when you're in IB. Additionally, you'll have to notify your firm if you're getting paid per Finra rules. Shops really don't like that because it can come across as you prioritizing other work instead of your staffings. Your free time is extremely valuable when you're an analyst, and you should be doing things that make you happy / recharge your batteries for the desk. Unless it's something you're extremely passionate about, or maybe starting your own venture or something, side hustles aren't best practice
Unless it is also a family business. I think a lot of firms would not care (depending on size).
OP here. It is a family business actually, which is why I’m even considering. I would have a ton of flexibility when I want to do the work and they would be totally understanding if I couldn’t get to something bc I was jammed w IB. Do banks generally allow this type of side work? In other words, is it even worth it to pursue if my bank is going to decline this request for OBA and I may get a bad rep for even asking?
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