Mumbai, July 18: A 29-year-old IT professional named Rohit has recently gained attention due to his moonlighting job. This revelation came during a personal finance podcast titled ‘Fix Your Finance’, where Rohit identified himself as an IT employee. Following this, discussions about him and his work have surged on social media and in the media at large.
Rohit’s Monthly Income: 7 Lakhs
Rohit, an Indian software engineer, disclosed that he works during the day for an Indian company and at night for an American firm. His combined monthly income from both jobs is approximately 7 lakhs, equating to an annual salary package of 84 lakhs. He puts in about 16 hours of work each day and possesses two homes, a car, and savings amounting to around 80-82 lakhs.
Juggling Two Jobs
Rohit expressed concerns about the potential impact of artificial intelligence (AI) on IT jobs in the future. Having faced financial difficulties in his childhood, he feels a sense of financial insecurity, prompting him to maintain two jobs. However, this has also increased his mental and physical stress.
Brother Sacrificed Education for Rohit
During the podcast, Rohit shared that his family could not afford to educate both him and his elder brother simultaneously. Consequently, his brother discontinued his studies to ensure Rohit could pursue his education. Rohit feels that failing to meet his family’s needs now would be akin to a personal failure.
Concern Despite 80 Lakhs in Savings
Despite having 80 lakhs in savings, Rohit expressed anxiety about his financial security. He has purchased a house worth 84 lakhs and acquired a car after becoming a father, both of which come with significant monthly EMIs. In today’s inflationary climate, he remains worried about his financial stability.
Future Plans: Leaving One Job
When asked if he would consider leaving one of his jobs to achieve a better work-life balance, Rohit mentioned that he has set a financial goal before making such a decision. He aims to save 7 to 8 crores in the next 5 to 6 years, after which he plans to quit one job and continue solely with his American position.
What is Moonlighting?
Moonlighting refers to holding multiple jobs simultaneously, often in the form of part-time or freelance work, which can be conducted via a laptop and internet connection.
Moonlighting in India:
Currently, there is no national law governing moonlighting in India. Its permissibility largely depends on employment contracts, company HR policies, and applicable labor laws. If an employee works for a competing company or shares confidential information without company consent, it may be considered a breach of contract.
The trend of moonlighting has been prevalent for decades, but it has gained significant attention in India’s IT sector post-COVID-19 (since 2020) and particularly since 2022. The primary motivations for moonlighting include earning additional income, acquiring new skills, or gaining experience.