Outside opportunities (2nd job) at EDJ?
I have been offered a position with Edward Jones and would like to accept. EJ policy clearly states no second jobs (aside from teaching) will be permitted, but also says something about during business hours. Does anyone have any knowledge or experience with this?
I would like to work a second job on weekends only until my can sell date, but definitely during my home study program. I know this requires discipline, as far as the studying goes.
Thanks in advance.
That second job will be frowned upon by Jones. You might be able to make a case, based on need, to work that job while you study, but you'll have to get it cleared through HQ. They definitely won't leat you do it past your CSD. I'd suggest inquiring about it with the person who made you the offer. They'd at least be able to send you to the right people to tell you yes or no, most likely someone in HR.
What you really need to ask yourself, is whether you can afford to be an FA. It takes 2-5 yrs to establish yourself in this business, to the point where you are making decent money. In the meantime, can you live off 40k per year, or whatever your base+ is? The very nature of asking about a second job, could be a deal killer, be careful asking about it. Instead of a second job, can you hatchet living expenses, or get a spouse to work/get a raise?
Personally, I like Ed Jones, but I'd really knock them for being too aggressive in expansion. Some communities have twice as many reps as that community can realistically serve. Tarnishes the brand. On the other hand, a fellow walking into a community that has zero presence, has the right stuff, might do very well.
This can be a great business for the right person, but I'd suggest you REALLY make sure this is the right thing for you, so you don't waste YOUR time.
There is plenty of time to work on the weekends if all you are doing during the week is preparing for the 7. If you can work under the table, don't tell anybody. It's a great idea to build your nest egg as much as possible. The second year with Jones is the difficult one. You lose your base salary and see a big drop in income. Do what you need to do and don't tell anybody. If someone sees you at work, just tell them your helping a cousin.
While you're at it, don't tell anyone that you give your personal email to clients or about the client folders in your desk at home or that you have a couple of difficult to reach clients that you accept orders from via text messages.
Playing the don't ask, don't tell game at Jones with a policy that basically forbids a second job is a dangerous game. I wouldn't want to play it.
Big difference post license. While studying for the 7, earn as much as you can on the side. And always have a resume circulating for a better position.
That's why I told him he might want to get permission while he's studying.
You're obviously not thinking about being an FA in the correct way. It's not a job in the traditional sense. It's a lifestyle. You can't go into this with resumes circulating. I'm sure you heard in training that in order to become a successful FA, you can't have plan B. You have to fully commit yourself to this lifestyle and eat, breathe, sleep, and poop being an FA. If you're not willing to do that, then you should go out and look for a "job."
I find the comment about a "better position" interesting. What does that mean? I am my own boss. I have my own office and my own secretary. I don't punch a timeclock. My salary isn't capped by whatever my contract says. I work overtime out of necessity, but I take time away from the office at will. Eventually I'll work 30 hours a week and make a ton of money while I'm at it. I play zero office politics games. I only deal with the people I want to deal with. I can fire my co-workers (read clients) as I choose. I talk to my boss (Regional Leader) maybe two or three times a year about the work that I do. And he doesn't have the power to fire me. I can only be fired if I don't produce the results the company expects. And even if I don't they are VERY generous in giving me the opportunity to correct my mistakes. I control my own destiny and it rests solely on my back and my efforts.
So, what's this "better opportunity" that there is out there?
That's the real beauty of this field if you can sweat out the tough times Spiff. I was at a county fair the other day (gasp! how unsophisticated!) and bid on some livestock shown by the youngsters. I ended up with a nice steer that's headed for my freezer. Anyway, I asked myself what other job allows me to take a day "off" (met some prospects over breakfast) like this at a moment's notice. I'm with you Spiff, for anyone who can "make it" in this business and at whatever firm you choose to hitch your wagon to, there are few better opportunities out there.
I guess it depends, I started with Jones last November and I own my own business on the side. I submitted it and it was approved as an outside business activity after I think 1 question?
They're fine with it if it does not impede your ability to do your job with Jones (i.e. a passive ownership), and doesn't create any type of conflict of interest.