Being ‘Overemployed’ Could Earn You $500K+ Per Year — But It Comes With Big Downsides
Written by
Dawn Allcot
Edited by
Cynthia Measom
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In today’s era of inflation, it might seem as if you spend your paycheck almost before the direct deposit hits your bank account. Add when you add in the anxiety many employees feel with layoffs looming, a full-time job provides little financial security.
Should you get laid off, unemployment benefits are unlikely to cover all your living expenses, which could leave you charging up your credit cards or dipping into emergency savings — if you’re fortunate enough to have any. As previously reported by GOBankingRates, only 14% of Americans have two to three months’ worth of living expenses saved for an emergency.
Introducing the Age of Overemployment
For some ambitious individuals, the answer is holding two or more full-time, remote jobs. Entrepreneur recently shared the story of software engineer Bryan Roque, who lost his job at Amazon. Roque subsequently went on to work remotely, full-time, for IBM, Meta and Tinder, bringing in more than a total of $820,000 across three jobs.
Holding more than one job has been common for decades amongst lower-income workers, who might need two or three jobs in retail or food service just to make minimum wage. But the rise in remote work brought a rise in mid- and higher-level employees who are double dipping, so to speak, and squeezing in two (or more) 40-hour workweeks into 168 hours.
If you can complete your work efficiently, supervisors may not realize you’re not working a full 40 hours for their company. And technology tools like “mouse jigglers” can help make it look like you’re at your desk.
Some employees make it work by holding jobs based in different time zones, with only a few hours of overlap. Even if you work a full 40 hours for two companies, two full-time jobs still leaves you 88 hours for sleep, hygiene, eating and other activities.
Overemployment is possible to achieve — especially as a short-term situation to pay off debt or save for a house. But is it a good idea?
Drawbacks to Overemployment
Let’s make one thing clear: holding two full-time jobs may be against company policy, especially if the employees are competitors. At best, it’s frowned upon by employers.
Overemployed W-2 workers will take the extra steps of locking their job history on their credit reports and avoiding social networks like LinkedIn, where they would be expected to share their job title and history. Overemployment means living a professional life shrouded in secrecy.
Beyond that, it’s exhausting. Most people feel as if they don’t have enough hours in the day working 40 hours a week. Your personal life and family relationships are likely to suffer. However, as a short-term solution, you might be willing to make that sacrifice because your financial future is that important.
Plus, most OE workers don’t actually put in a full 40 hours for each company. If you’re okay with “cheating” employers in this way, overemployment could be an option. After all, as long as you get the job done, it shouldn’t matter how many hours you invest.
One solution to finishing your work faster is to choose jobs that are below your skill level. You won’t be pushing or stretching yourself, professionally, or learning new skills and growing. For some, this would be a drawback.
Takeaway
The goal is to complete your tasks as quickly as possible, cash your paycheck, and not have anyone in either organization discover your double life. If you have no moral qualms about this or can overlook any feelings of guilt because of the financial benefits, overemployment could worth exploring.
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