Curious if you got any side hustles. I think I've gotten to a point with IB where I've found a sweet spot as far as work-life balance believe it or not. I've seen some people do Training The Street instruction on top of their day job and make it work. I've even seen some people do military national guard or reserves drill on top of work. One of our old MDs had so much real estate that IB was almost a side gig for him between managing his properties. Curious if you have any side hustles going on for a little extra money.
Trending Content - Off Topic Forum
Career Resources
Bump
I honestly think if you’re someone who has military lineage in your family or a keen interest in serving the country then the reserves could be something that may be worth it for you, depending on your firm and group.
It a fantastic route to gain respect, pick up some new skills, and “protect” your time with drill weekends and annual drilling. It may not be something that is worth it for everyone, as it is a massive commitment with lots of contingencies; however, I believe that most people respect the military and it is a great way to meet new people and see new things.
I don’t think that your training experience would be something like the training in full metal jacket and even if you deploy you might not see a “battlefield” battlefield, but that being said, if you can find the time to go through basic training or OCS, you would have a rewarding experience during your time in the service.
The training in Full Metal Jacket is standard Marine boot camp. Everyone goes through boot camp.
Yeah I just meant the part with Private Pyle losing his mind (sorry for the spoiler). Could’ve been a little more clear in my language haha.
I'm the 1980s (NYC), there were a bunch of bankers who were Vietnam vets, and they all joined one of the local Army Reserve/National Guard units.
They seemed to have missed the fraternal camaraderie of the military, and it was a way for them to socialize together, away from banking (as it was explained to me).
What was especially interesting was that the group was full of high achieving guys (in banking and military), including a few Marines, at least 2 Green Berets, and a bunch of others with a notable military record.
Many/most of this group were very senior bankers, but most people never realized that they were getting together 1 weekend/month, on the side, to "play soldier for the weekend" (as one put it).
They saw it mostly as a fun, social sort of weekend activity. At least a few of them stayed in long enough to get retirement.
I was young, and some of them were friends of my father (a banker in the 1980s), but I always thought it was amusing how that was their "secret" side activity.
An interesting detail: One of them actually actually went into banking, because in Vietnam, one of those bankers saved him. That banker later invited him to come work at his bank, and he did. So, a lot of them seem to have made close connections before they even went into banking.
I don't see it as much anymore, but during that era, it seems a lot of the Vietnam guys stuck together in banking.
I agree, it's a good option, if someone is into that idea, and has the available time.
Given most people on this site are likely beyond proficient with financial modeling, I'd say modeling consulting and helping undergrads with projects or even cases for job interviews.
What sort of pay/hr is achievable for this kind of gig, assuming you are just doing this 5-8 hours a week?
I've seen ~VP level bankers charge up to $400 / hour on tutoring sites like Wyzant. I would think 5-8 hours is easily attainable (maybe not at $400/hour though) if you can model a wide range of projects/cases. It really took off during covid when you didn't have people looking over your shoulder at home. Mind you, the site probably takes 25% off the top or something silly, but investment banking / private equity level modeling has a market outside of the desk. From what I've found the market is mostly made up of undergrads and aspiring high financiers.
Ex-finance, now in tech. I do business brokerage on the side (like IB for the SMB world). Doubled my W-2 income this year
How did you get involved in this? Did you join an existing brokerage or start your own? If the latter, how do you generate deal flow?
Impressive.
Not IB, sit on strategy team 9-5. I teach piano lessons for ~$100 hr depending commute. Cash.
I've heard of a few guys writing SeekingAlpha articles (or other platforms), or perhaps blogging some relevant content, to build a future reputation it seems. (I don't know how many actually do it, beyond just talking about the concept, however).
One guy at my firm was a former professional baseball player; and so, he would help coach his son's little league team, and help out with MLB scouting on the weekends.
I know of another guy (an accountant) who advised/consulted for some startup (on the side), and sat on a board or two. (If careful not to run afoul of compliance, it might be a way to potentially develop resume-enhancing experience, during free time).
I also know of a few guys with a family business (very small business), often run by family or their wife (like a small restaurant or something of that nature), and they would get involved in the weekend.
Of course, I remember after 2008, there were some guys who soaked up a ton of RE, and had that as a side project.
I know a bunch of senior bankers have been wanting to try to get into promoting themselves, as experts, ever since Dalio started promoting himself around the scene, and on social media. lol
A lot of it depends on your personal interests, and if you can find a niche, to develop a side-hustle. I think it's entirely possible, as long as managed properly.
Curious how the Seeking Alpha stuff works with outside business disclosure. Not sure my firm would sign off on that. They wouldn't care if I did something totally investment unrelated like fitness training or whatever but I could see some conflicts of interest on this one
Newbie to the industry but keen to do something similar. Wondering what restrictions BBs tend to place on side hustles? Is it restricted or requires a level of disclosure, etc?
If you’re licensed you’ll need compliance approval for an outside business activity. Some things compliance is fine with like real estate, some angel investing other things are a hell no particularly active things that may pose a conflict.
Do you mind me asking what your role is? Analyst/Associate/VP???
Thanks!
Et sunt mollitia assumenda expedita repellendus fuga. Iure reiciendis soluta assumenda officiis. Nulla assumenda repudiandae eius eum vitae.
Quae unde quae perspiciatis sit mollitia voluptatem ipsum commodi. Reprehenderit mollitia commodi neque eligendi ratione a beatae. Quaerat qui voluptas amet incidunt dolor ex.
Eos quo suscipit harum repellat voluptas dolorum labore. Culpa fugit aut minima eius. In numquam laborum ut deleniti. Et asperiores impedit ab nihil sunt eveniet. Qui assumenda sit sint omnis sunt iusto aut.
Nulla ipsam sint eum inventore fugiat. Esse minima eos sunt laborum excepturi ducimus et aut.
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...