Side Jobs you can do while working in Asset Management?

mshay26's picture
Rank: Monkey | banana points 39

Hi,

I'm wondering if there are any side jobs that you can do while working in an investment management firm? I know in the beginning it might be hard to find time but I've heard the hours get better. So considering the important of multiple flows of income, I'm wondering if there are part time jobs you can do, that are preferably (but not necessarily) related to asset management, while working in investment management? And how should you go about looking, and starting, that other side job?

Thank you!

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Comments (36)

Feb 19, 2018

Uber

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Best Response
Feb 20, 2018

Get into selling physical products on Amazon.

Jungle Scout has a youtube channel that teaches you how to sell products on amazon, how to find products to import and products manufacturers from china on alibaba....its free to learn on youtube...takes about $1500 to get started (first batch of products to sell costs about $1000...plus a couple hundred for advertising, shipping, inspection, giveaways). you don't need to dominate a category...but if you can buy products from china for $2-4....ship them to the US for $1 each, sell them for $16-20 on amazon (amazon takes 15% plus shipping and handling fee of about $5-6 for small light items)...so your $4 item can net you ~ $6-8....and after subtracting all your costs (product, click thru ads, etc)...you can avg a 50% return on your investment, and turn that over monthly (until you hit the max sales for a category depending on demand). Its an interesting business to get into. There are millions of products purchased on amazon...and about 40% are sold this way (not by the original name-brand manufacturer, but by a 3rd party reseller who white labels the product from china). If you keep reinvest the profits into creating other product lines, you can grow this into a very large business that will dwarf what you'll make in your "job"....but that usually takes a couple years.

just google it...you're welcome

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Feb 20, 2018

This can be challenging. Many people (myself included) have an outside business clause where compliance has to sign off on all outside business activities. (Mine even includes selling your old stuff on craigslist or Ebay.)

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Feb 20, 2018

easy...you can do this under somebody else's name...parents for example...or a friend. Since its not securities investing, i doubt anybody would ever find out...or care.

just google it...you're welcome

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Feb 21, 2018

Would you be willing to risk a six figure job for a few hundred bucks a month though? I wouldn't.

    • 1
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Feb 21, 2018

you are being ridiculous..nobody will ever find out who is behind a white label brand on amazon....and you can make 10k+ per month (assuming 4-6 products) with almost zero effort after you get it started.

just google it...you're welcome

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Feb 21, 2018

Presuming you can make >$120k/yr with minimal effort (More than double the median family income in the US) Why would you want to go into finance? The hours are long, the stress is high, and I assume you can sell on ebay from from a place where the cost of living is 1/3 what it is in greater NYC with no detriment.

I expect that I will likely end up making $500k/yr (inflation adjusted) in my peak years while giving years of my life (physically) plus years of my life expectancy (statistically) for my job. I may get lucky and may make more, or may flame out and make less. $120k/yr for an opportunity where a house is $100-200k instead of $500k-$1m+, and my commute is 10 minutes in a Tesla instead of an hour on the subway sounds pretty nice to me, and I expect to most people in finance.

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May 14, 2018

I see your point Whatever1984. Thanks for the insight

May 14, 2018

thanks want2trade. Yeah I have actually heard about this and was looking into it a while back. I just thought it was a big time commitment because you had to keep looking for a product to sell that doesn't already have a lot of sellers. Would you agree? How much time commitment do you think it as in the start and later when you have some products?

Feb 20, 2018

Freelance consulting.

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Feb 21, 2018

Any more thoughts on this? I have always wanted to do this as a side gig but was never sure where to start. My initial idea was to try and consult with local non-profit organizations to review their investment portfolio (e.g. review and/or set up investment guidelines, portfolio allocation, etc.). I recently started on a board of a local non-profit organization which kinda reinforced this originally idea because their investment allocation is definitely out of line with their time horizon and spending needs.

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Feb 22, 2018

Freelance consulting is easy

Step 1) Get Clients
Step 2) Work

Most people fail at step 1

May 14, 2018

Thanks TheROI. Yeah I think I would actually like this. I'm not sure how to go about starting this though. Any advice?

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Feb 20, 2018

Porn

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Feb 21, 2018

Depending on your skill set, give personal training lessons, coach youth sports team, give budget advice, hustle the ebay/craigslist/amazon seller game, pick up a weekend bartender/barback/waiter job, uber/lyft, tutor students, make & sell furniture

    • 1
Feb 21, 2018

hours might be better but if you plan on staying in AM, then plan on allocating 15-20 hours/week 4-6 months/year for the next few years studying for the CFA.

May 14, 2018

Yes I'm thinking about taking level 1 next June after I graduate. Do you think that's a good time. What do you think is a good time for level II and III?

Feb 21, 2018

selling information

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Feb 22, 2018

LMAO

What concert costs 45 cents? 50 Cent feat. Nickelback.

Feb 21, 2018

This might differ on where you work, and maybe even by officer level, but I work for a BB and there is a strict "no moonlighting" policy. So you might want to check to make sure you're not sacrificing your salary and benefits for some ridiculous "side hustle".

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May 14, 2018

Thanks GoingToBeAnMD, I didn't mean an actual job. I was thinking more like freelance/independent contractor stuff. What do you think about that?

May 24, 2018

That's just playing semantics, isn't it? The whole point of "no moonlighting" policies is that the company wants 100% of your focus and time, it doesn't matter what you call your side job.

May 25, 2018

Interesting. We don't have any restrictions unless we are competing against the bank, obviously.

May 25, 2018

Again, it's possible that it varies from company-to-company and even officer level. For example, at my BB, there is an increased number of benefits when you reach the VP level. It's possible that they include these types of "no moonlighting" at that level and higher and don't care what the other levels do.

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Feb 21, 2018

Advising anxious parents (and, to a lesser extent, their kids) on college admissions and standardized test tutoring. In cities like New York you can charge a certain type of parent $1000+/hour if you have the right credentials.

May 14, 2018

Thanks. How would I go about this though?

Feb 21, 2018

It's not really a side gig, but I work for a boutique consulting firm specializing in helping companies raise capital internationally through the federal EB-5 program and we're recruiting a full-time associate with a PE or consulting background. Our managing partners are Forbes 30-under-30 winning for the company and started the company after working at BCG and in private equity/commercial RE for several years. We're growing really quickly and are looking to bring on a full-time associate working remotely - our work culture is super-modern and we all work from wherever we are. Personally, I live in SF and visit our offices in Puerto Rico and South Florida a few times a year, but mostly I travel places I want to go and work remotely from there. It's not a side gig in that it's full-time, but it's a much more flexible position than a traditional finance job so I thought y'all might be interested. Check out the job post here: https://eb5-affiliate-network.workable.com/jobs/64...

Feb 21, 2018

I like to buy and sell watches on the side on eBay. There are plenty of arbitrage opportunities if you know the values and have the ability to make a convincing post. For example, an old Omega Seamster could be sold by some dusty old fart in Quebec with a shitty picture. You can buy it a deep discount, wear it for a bit and put it back with grade A pics. I had a 68% overall ROI last year fiscal year. Went through 6 watches, plan on an exponential increase in volume in '18. Kinda brutal because its just computer work, but its a good way to get the same joy of making a profit that you get at your job in AM

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Feb 21, 2018

I am very interested to hear more about this if you don't mind sharing. Brands to target? Price range? Customs issues?

Feb 22, 2018

No customs issues that I've come across, I don't usually mess with third-world countries and I'm very cautious in Europe. Stay away from Rolex seems to be a lot of fakes out there. At the end of the day you want to buy a real watch and you simply have to know you are buying a value from comparables/research. Just like picking a stock!

May 30, 2018

This guy gets it.

Feb 22, 2018

I make $150 an hour tutoring High School and Middle School kids in Manhattan. It's usually brings around 2k a month working maybe 4-6 hrs a week. The way you get this job is through high-end tutoring companies. You also need big name schools on your resume: parents paying this much per hour want to see a pedigree - national brand name high school (Andover, Fieldston, etc) AND college.

May 14, 2018

Thanks jhd311, I actually enjoy tutoring and have been doing online tutoring through sites like Chegg. Can you tell me what kind of high end tutoring companies you're talking about?

Feb 22, 2018

I'm the Chuck E Cheese character in the suit on some weekends. have a few too many scotches before work and scare little kids. Not about the money obviously but pure entertainment.

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Feb 25, 2018
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May 30, 2018