Former Wall Street trader Steven Menking has shifted gears, from trading high-stakes equities to one-on-one tutoring, reported Livemint.

Now based in New York, he earns up to $1,000 (around Rs 86,800) per hour working remotely.

In a recent CNBC Make It Interview, he revealed his 2014 pivot from a tough finance career, driven by burnout. “I was drained by the lifestyle,” he said, opting for a more fulfilling career in education.

Building the business
Menking now works 20–25 hours weekly, mentoring students and young professionals on academics and career choices.

Starting at $50-$100 per hour, he boosted his rates by partnering with New York agencies and platforms like Wyzant. “I focused on channels allowing pricing flexibility over time,” he added.

His success highlights how skilled freelancers can command premium rates in the knowledge economy, outside traditional corporate roles.

The transition’s biggest challenge, Menking said, was not financial but mental and emotional detachment from societal expectations tied to his finance background. 

"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.”

He advises others to stop running after job titles, but take a look at what you truly find meaningful and what energises you. He said,  “Do your due diligence, understand your worth, and give yourself the freedom to explore.”