In a bold career shift, former Wall Street trader Steven Menking has gone from dealing in high-stakes equities to building a successful one-on-one tutoring business from his New York home, earning up to $1,000 (about Rs 86,800) an hour.
Menking left finance in 2014 after feeling exhausted by the high-pressure lifestyle. What followed was a complete reinvention, which was swapping a six-figure trading job for a more flexible career in education. “I was drained by the lifestyle,” he said told CNBC Make It, while reflecting on his decision.
How did Menking build his WFH business?
Menking now tutors students and young professionals around 20 to 25 hours a week. When he started, his rates were modest, around $50 to $100 an hour. But over time, by choosing the right platforms and agency partnerships, he steadily raised his prices.
He said that he partnered with agencies in New York and platforms like Wyzant. He then focused on working through channels that offered freedom in pricing and allowed him to scale his services thoughtfully.
From identity change to financial freedom and flexibility
More than the financial switch, Menking said the toughest part was stepping away from the identity tied to his old job title. Letting go of the belief that he should return to finance was a mental challenge. But choosing work that felt purposeful regardless of others’ opinions was more rewarding.
Instead of chasing validation through titles or social approval, Menking suggests people ask themselves what truly excites and energises them. “It takes a radical commitment to pursue something that fulfils you, regardless of what family, friends or former colleagues might think,” he said.
According to Menking, being honest about your worth and giving yourself permission to explore can lead to surprising and fulfilling outcomes—even if it means starting over completely.