In a striking example of career reinvention, former Wall Street trader Steven Menking has swapped high-stakes equities trading for one-on-one tutoring—and now earns up to $1,000 (approximately ₹86,800) per hour working from home.
Speaking to CNBC Make It, the New York-based professional shared that he made the transition in 2014 after burning out from the relentless pace of finance. “I was drained by the lifestyle,” he said, reflecting on his decision to pivot from a six-figure job on the trading floor to a more flexible and personally fulfilling career in education.
Building a high-value freelance business
Today, Menking works 20–25 hours a week tutoring students and young professionals, guiding them through academic challenges and early career decisions. Initially charging $50–$100 an hour, he gradually scaled up his rates by strategically choosing platforms and partnerships that allowed pricing flexibility.
“I partnered with agencies in New York and platforms like Wyzant, then focused on channels where I could increase my rates over time,” he said.
His story underscores how independent professionals—armed with the right skillset and business strategy—can command premium pricing in the knowledge economy without being tied to traditional corporate roles.
Redefining success beyond job titles
Menking also shared how the biggest hurdle was not financial, but mental and emotional detachment from societal expectations. “I had to let go of thinking: ‘I’m a finance guy, so I should get another finance job,’” he said. “It takes a radical commitment to pursue something that fulfils you, regardless of what family, friends or former colleagues might think.”
His advice to others: stop chasing validation through job titles, and instead, take a hard look at what truly energises you. “Do your due diligence, understand your worth, and give yourself the freedom to explore.”
He also advised that people should stop trying to please people with career choices.
“It takes courage to start from scratch. In addition to creating something entirely new for yourself, you have to reconsider what you thought your future life would look like. But to be able to pursue work that really fulfils you, I find that it’s all worth it,” he told CNBC Make It.