Moonlighting’ is a term growing in popularity among employees across various sectors which translates to holding more than one job simultaneously usually without the knowledge of the primary employer. There were various motivating factors that were discovered in this study after conducting a thorough theoretical research of previous work in the field. Most of the factors could be broadly classified into two categories, psychological and personal. Theories like Self-Determination theory, Maslow’s Need theory, Goal-setting Theory, Social-exchange theory and Role theory were examined and different models were derived that were applicable in this context. Post extensive theoretical research, the motivating factors leading to possible moonlighting behaviour were classified into psychological and personal branches, from which a conceptual framework was derived with corporate governance determinants played a moderating role in the relationship. The influence of selective psych and personal indicators and the directional impact were found in the process. The paper found that majority of the factors identified in both branches had a positive impact on the moonlighting behaviour. However, being a theoretical study, the findings are not an accurate measure but an illustration of what can be. Further empirical analysis with this study as bedrock will help reason out the relationship of individual factors and corporate governance with Moonlighting decision making