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?
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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
that's why you hire a manager. While that'd cut down your NOI, at least you still get some income (hopeful) and the upside on appreciation, if any.
Cryptocurrencies ...
Are you even allowed to trade anything?
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