Question

PROS AND CONS OF A SECOND JOB

There was a time when moonlighting—taking on work in addition to your full-time employment—was for under-employed workers and the severely cash-strapped.
Today, even working professionals can be cash-strapped, and people in all fields and income groups are supplementing their main income by moonlighting. For some, the second job isn’t just for the bucks but also for the skills and the sense of being a free agent.
And although extra part-time jobs used to be verboten, many supervisors are flexible about a team member who picks up a gig on the side.
Experts suggest weighing the pros and cons carefully before you take on a second job.

Pros

Money—That’s still the biggest reason people take on extra work. And with gas above US$4 a gallon—and rising healthcare premiums, and income freezes—extra income can be a lifeline.

Security—“Many professionals today are looking at second jobs as a fallback because they feel, correctly, that their main job is not completely safe,” according to John McKee, president and founder of BusinessSuccessCoach.net and author of “Career Wisdom.”

Freedom—A second job or career can bring psychological benefits, such as the feeling of not being shackled to one company, experts say.

New skills—If you’re thinking about switching careers but can’t take the plunge, taking a part-time job could be a way to test the waters or boost your entrepreneurial skills, McKee said.

Cons

Time—Do you really want to spend 10 or 20 hours a week on another job, not to mention the commute hassle and the disappointment of significant others who’d rather see more of you, not less?

Conflict of interest—Consulting for a direct (or even indirect) competitor can put you in a dicey situation, according to J Daniel Marr, managing director of the New Hampshire law firm Hamblett and Kerrigan.
“This is a big issue in software and industries where you use part of what you learned from your primary employer,” Marr tells Yahoo HotJobs.
“Employers insist they have rights to your intellectual property.”

Performance slippage—One reason many employers look askance at moonlighters is the fear that they’ll burn out. Some companies may demand your full time and attention, even off-hours.

Employer irritation—Even if the company allows moonlighting, supervisors might not like the idea. “Some will say angrily, ‘We’re paying this guy x dollars a year and it’s still not enough?’” Marr says.

Tips to make it work

If you are considering a second job, the experts add these three tips: Pick an unrelated field—You’ll reduce the risk of burnout and conflict of interest. A nurse who builds websites part-time, a marketing professional who teaches music, or an insurance adjuster who moonlights as a landscape architect would be safer bets.

Check with HR—Many companies have moonlighting policies. But even if they don’t, it’s wise to see if your second job might be a conflict, especially if you’re considering a professional part-time job or one that’s related to your full-time job, Marr says.

Consider why you’re doing it—“Supplementing income is fine, but it’s best if a second job is part of an overall life and career plan,” McKee says. “Otherwise you risk scattering your resources.”

QUESTION:

1. state any new information you’ learned from the article, who you think would best benefit from the article (students, citizens in general, managers, teachers, parents, government officials, private sector, specific industries, etc) and state why.

Answer 1

This article shows us that Moonlighting or taking an additional job with a full-time job is more of a necessity these days. In today's time, when most of us are cash-strapped, with burdens of credit cards, EMIs and other debts; its not bad to take-up a second job.

One should compare both; the pros and cons of picking up a second job and also check on conflict of interests.

I think any general citizen, who is working/might work in upcoming times (i.e. general human) would best benefit from this article.