Lets say your working as an investment analyst and decide to take a job working at a convenient store at night. Do you have to disclose this to your employer before taking the job, or do you only have to disclose if your taking a job that might compete with your employer?
I think it should be disclosed as it might affect your work in the office
I don’t think you do, but then I’ve seen questions where the guy worked on the Board of a charity and had to disclose, so who knows?
Debate raged on this a while ago. I believe you always need to disclose outside work, even if it’s not in the industry, as you potentially deprive your employer of your skill – if only because you’re not functioning a full capacity at your full time job. However, I don’t believe there ever was a consensus. *** reads text book *** Interestingly enough, just looked at the standard on duty to employers, and it doesn’t even vaguely reference the issue. Only thing close is that it states you need permission to enter into an outside ‘practice’ defined as a a service provided by your employer, so it would seem you DO NOT need to disclose. Another interesting thing is that the text book explicitly states that the outside practice would be for compensation – implying that if there’s no compensation provided you do not need to disclose (which is a mind f-ck that seems inconsistent with everything I’ve thought to date.
In this case, because it’s completely unrelated to your full-time job, you do NOT have to disclose UNLESS working there impairs you’re ability to function properly in your real job (i.e., working all night/too many hours and going straight to work in the morning with no sleep). I’m pretty sure about this, as I’ve come across a few examples like this in practice exams. The case(s) about the dude being on the Board of Director (above) involves being on the Board for a charity or private company, the thinking being that this does not compete in any way because they are private organizations (i.e., don’t trade in the open market), thus doesn’t create a conflict or potential conflict.
You just have to INFORM your employer that you are taking on another job if that job is not in competition with your employer. The employer decides if it will impair your ability to perform your current job. However, if the job is in COMPETITION, you must receive written permission from both your current employer and the new job you are taking. Thus both parties know that there maybe conflicts of interest.
mojofa Wrote: ------------------------------------------------------- > In this case, because it’s completely unrelated to > your full-time job, you do NOT have to disclose > UNLESS working there impairs you’re ability to > function properly in your real job (i.e., working > all night/too many hours and going straight to > work in the morning with no sleep). I’m pretty > sure about this, as I’ve come across a few > examples like this in practice exams. > > The case(s) about the dude being on the Board of > Director (above) involves being on the Board for a > charity or private company, the thinking being > that this does not compete in any way because they > are private organizations (i.e., don’t trade in > the open market), thus doesn’t create a conflict > or potential conflict. This one is right. There was a question on one of the practice tests about someone bartending 3 hours on a weekend and that person was not even required to inform the employer about working there because it did not compete and was not enough hours to harm her performance. In other cases, like on board of directors or the one where the guy is a mayor, even if they don’t receive compensation then they have to get permission since it would require a significant amount of time.
“In this case, because it’s completely unrelated to your full-time job, you do NOT have to disclose UNLESS working there impairs you’re ability to function properly in your real job (i.e., working all night/too many hours and going straight to work in the morning with no sleep). I’m pretty sure about this, as I’ve come across a few examples like this in practice exams.” Agreed.
mojofa Wrote: ------------------------------------------------------- > In this case, because it’s completely unrelated to > your full-time job, you do NOT have to disclose > UNLESS working there impairs you’re ability to > function properly in your real job (i.e., working > all night/too many hours and going straight to > work in the morning with no sleep). I’m pretty > sure about this, as I’ve come across a few > examples like this in practice exams. > > The case(s) about the dude being on the Board of > Director (above) involves being on the Board for a > charity or private company, the thinking being > that this does not compete in any way because they > are private organizations (i.e., don’t trade in > the open market), thus doesn’t create a conflict > or potential conflict. This is the correct answer to the poster’s question.
mcf Wrote: ------------------------------------------------------- > Debate raged on this a while ago. I believe you > always need to disclose outside work, even if it’s > not in the industry, as you potentially deprive > your employer of your skill – if only because > you’re not functioning a full capacity at your > full time job. MCF I believe it was you I was debating with about this. You are not correct. YOUR employer may state that you have to disclose any outside work (or even that it’s not allowed at all) so YOU should follow that as it is stricter than CFAI code. However, if being tested on CFAI code the response I quoted in my above post is correct.
“MCF I believe it was you I was debating with about this. You are not correct. YOUR employer may state that you have to disclose any outside work (or even that it’s not allowed at all) so YOU should follow that as it is stricter than CFAI code. However, if being tested on CFAI code the response I quoted in my above post is correct.” Damn, he got all CAPS LOCK on your ass.
I want MCF to get this right! It’s a confusing point. No offense was meant.
Thanks for the help everyone. That’s what I was thinking but wasn’t sure skillionaire Wrote: ------------------------------------------------------- > “In this case, because it’s completely unrelated > to your full-time job, you do NOT have to disclose > UNLESS working there impairs you’re ability to > function properly in your real job (i.e., working > all night/too many hours and going straight to > work in the morning with no sleep). I’m pretty > sure about this, as I’ve come across a few > examples like this in practice exams.” > > Agreed.