Once a high-earning equities trader on Wall Street, Steve Menking walked away from a six-figure salary to pursue a calling far removed from the corporate grind—teaching. Today, the 36-year-old earns $1,000 an hour as a private tutor while enjoying the freedom of working from his Connecticut home in the US.
In his early 20s, Menking seemed to have it all: a coveted position at SMB Capital, a promising career trajectory, and a hefty paycheck. But shortly after turning 25, he found himself disillusioned with the high-stress lifestyle.
“I watched colleagues my age—or younger—excelling in their careers, but it was difficult for me to see people stay in the office until 1 a.m. and think that could be my future,” Menking told CNBC Make It. “It just wasn’t the lifestyle for me.”
Reflecting on what truly made him happy, Menking realised teaching gave him a sense of purpose he couldn’t find in finance. His experience as a teaching assistant and tutor during college rekindled a passion he thought was long buried.
“It gave me a deep sense of meaning,” he said. “I felt called to teach.”
In 2014, Menking left Wall Street to pursue tutoring full-time, opting for private tutoring over a traditional teaching route, which would have required further formal education. Starting small, he joined online tutoring platforms like Wyzant and signed up with agencies, initially charging under $100 an hour. His expertise in finance, math, and accounting, paired with his Wall Street background, quickly set him apart.
By 2017, Menking’s earnings had grown substantially. After joining Forum Education, a New York-based tutoring agency, his annual income skyrocketed from $95,000 to $200,000.
“Forum’s network of schools, students, and families opened doors I couldn’t have imagined,” he recalls.
By 2020, he launched his own business, Menking Tutoring LLC, offering personalised tutoring and test prep, as well as corporate training programs. Today, his clientele includes Ivy League students and professionals seeking career guidance.
On average, Menking works 20–25 hours a week, though his schedule fluctuates based on demand. While winter and spring bring heavier workloads ahead of exams, summers are relatively quiet, allowing him to spend quality time with his wife and three children.
“Some weeks might be more stressful than others,” he admitted, referencing the occasional panicked email from a student. “But overall, being a private tutor has given me an extraordinary work-life balance.”
For Menking, the rewards of tutoring extend beyond the impressive paycheck. “There’s no substitute for waking up every day knowing you’re serving others in a way that aligns with your unique expertise,” he said.
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