Nisha Shah worked as an investment banker for 10 years before becoming a full-time content creator.
Nisha Shah
Personal finance YouTuber Nisha Shah quit her six-figure job at investment banking to become a full-time content creator, and it was a gamble that paid off.
After 10 years in banking, Shah became an associate director at Credit Agricole in 2022, earning well over 200,000 pounds ($256,000). But the London-based banker said in an interview with CNBC Make It that he wasn’t satisfied with his career.
“After about nine years of working in corporate life, I realized that the work I was doing was not satisfying, challenging or intellectually stimulating for me,” she says. “I wanted to find a way to help other people while still getting paid. What I was doing in banking was helping corporations and sovereign nations.”
She hit “rock bottom” about two and a half years ago and decided to reevaluate her life using the Law of Attraction Planner to manifest her goals and dreams.
“I wanted to change the direction of my life,” she says. “This Law of Attraction planner had prompts and questions like, ‘What would you do if money wasn’t an issue?'”
Shah knew she was passionate about personal finance and making complex information accessible to everyone – she once helped her parents avoid paying around £14,000 in tax when selling their house because their accountant missed key information.
“Just being knowledgeable about personal finance can have a big impact on how much money is in your pocket,” she added.
Shah has been working on producing YouTube videos on personal finance and self-improvement since December 2021, and currently has over 1 million subscribers on YouTube.
This success led her to quit her investment banking job in January, even though she was due to receive a six-figure bonus two months later.
The risk was worth it: Shah now makes over $1 million through monetizing his YouTube videos, selling courses and products, corporate speaking engagements, and partnering with brands.
“I’m making a lot more than I did as a banker,” she says. “By not chasing money anymore and just chasing what I’m good at, what my passion is, what I really enjoy, I’m making more than I ever made before.”
Shah spoke to CNBC Make It about how he grew his YouTube channel and prepared to quit his job in investment banking.
“It took us 11 months to reach 1,000 subscribers.”
Shah’s videos cover a variety of topics, from “The Financial Habits That Keep You Poor” and “7 Ideas to Generate Passive Income” to “How to Invest Your First $1,000.” Her videos have received anywhere from 100,000 to 9 million views.
Devoted subscribers will be familiar with Shah’s candid approach, forthright advice, and black turtlenecks, but back in 2021, her YouTube account was just a side hustle that she didn’t take too seriously.
“In June 2022, everything changed. Shah decided to start posting twice a week, and finally, in September, one video detailing a day in her life as an investment banker went viral. She gained 50,000 subscribers and earned £3,000 within a month.”
“It took me 11 months to reach 1,000 subscribers and two months to reach 100,000, which was a challenge,” Shah said. “In short, you never know when luck will strike – it’s the power of compound interest.”
Shah says her audience includes many young people, women and people who may not have had the opportunity to have access to financial education.
“When I speak to the camera, I feel like I’m talking to my 22- or 23-year-old self,” she said.
“There are a lot of people early in their careers who are starting to make money but want to get better. They just want to know, ‘How do I save money? How do I grow my wealth? How do I quit a job that I hate?'”
With misleading financial content rampant, especially on social media, Shah saw an opportunity to use his banking experience and accountancy qualifications to become a trusted figure in the field.
“There’s a lot of bad advice being given on TikTok and Instagram and it’s a shame because bad advice about shampoo or lip gloss can cost you around £7, but bad advice about money can cost you a lifetime’s savings.”
Use money from your main job for a side job
Having a day job that provides a steady income can help make your side hustle more successful, Shah says.
“Unless you come from a wealthy family, having a steady income is very important. Also, having a job that allows you to learn without worrying about the consequences is important,” she explained.
Shah said starting a business is a learning curve and without a backup income, the consequences could be disastrous, including losing all of your savings.
“If you have a day job that pays you, and you’re building a business on the side, you’re working creatively instead of, ‘I have to make sure the bills are paid and I have to make ends meet,'” she said.
“Then you end up working under stress, and I think that has a huge impact on whether you can succeed in the entrepreneurial world.”
When Shah first started making YouTube videos, he used his earnings from investment banking to buy a £1,000 camera.
“I would encourage you to continue exploring a side hustle or business alongside your day job for as long as possible. It will give you peace of mind, freedom and creativity. It will help you build up an emergency fund and give you some extra cash to put towards making your side hustle a success,” she said.
Shah had saved up an emergency fund to last at least nine months after she quit her job: “I don’t need money for fancy holidays. I don’t need money for clothes or bags or anything like that. I just need money to cover my living expenses.”
She admitted that if she had waited until she’d made a lot of money on YouTube before quitting, it would have taken her much longer to make the leap.
“It was really important that I went all in. I had an emergency fund as a buffer, and this was a once in a lifetime opportunity, so I thought, ‘I’m at a crossroads. For the last nine years, I’ve been doing what I know, and it hasn’t been making me happy, so now it’s time to take my life into my own hands and just go for it.'”
Shah’s salary was confirmed by CNBC Make It through her contract and tax returns, though the exact amount will not be made public for privacy reasons. Her YouTube earnings from May 2023 to May 2024 were also confirmed by CNBC Make It through bank statements.
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