Smart Money Moves: Advice from a CFO for Career Changers

Starting a new career path can be both thrilling and intimidating. You aspire to work in technology, envisioning rewarding jobs, but worry about paying bills during the transition. This fear often prevents people from changing careers. Organizations including Per Scholas offer solutions.

Per Scholas offers technology training to many individuals, including those seeking to change careers. These learners come from diverse backgrounds and possess varied work experiences, yet many share a common aspiration for a new career. Our training, career coaching, and job placement strategies have resulted in over 2,600 Per Scholas alumni launching tech careers in 2023 alone, with total first-year earnings exceeding $127 million.

Per Scholas CFO, Pam Kingpetcharat, is a resource for our career changers. She bases her advice and guidance on practical experience and empathy for each learner. We sat down with Pam to discuss some smart money moves you can make if you’re considering a career change.

Budgeting Through Training

We asked Pam, “What’s one thing you recommend learners prioritize as they pursue training for a career change?” Her answer was clear and firm: they must prioritize a realistic budget.

“During training, your income might be temporarily reduced, so tracking your spending becomes more important than ever,” Pam said.

When considering personal budgeting, the first thought might be to reduce expenses. Although you may need to reduce certain costs, effectively planning and monitoring your spending is often enough. A simple, practical budget doesn’t need to be overly limiting or difficult to handle.

For example, learners might adopt a “50/30/20” style budget. In this method, 50% of income is set aside for needs like rent, groceries, and utilities; 30% goes toward wants like entertainment and dining out; and 20% is set aside for savings and repaying debts. Digital budgeting tools, available online or as smartphone apps, can help you manage the 50/30/20 system or other budgeting methods.

Planning for Job Gaps

Gaps in employment are common for career changers, especially between completing training and starting their first job in a new field. We asked Pam, “What should learners consider when preparing for potential income gaps?” She acknowledges this can be a tricky time, but it’s essential to be prepared and try new things to keep money coming in.

“This highlights the importance of saving money,” Pam said. “Even small, regular savings can accumulate into a substantial buffer you can use when needed.”

The gig economy provides opportunities to keep your finances solvent until you land a job in your chosen field. Those with tech industry training, in particular, can likely find short-term work on specific projects.

“Freelance or gig work can provide financial support when you need it. Project-based work is also a great way to get experience and make connections, utilizing your new skills,” Pam said.

Saving for the Future

Landing a tech industry job based on your training can launch a new chapter in your career. It can also represent new financial beginnings. We asked Pam, “What’s the best beginner step for long-term financial wellness?” She shared a few pointers with us.

“Saving is so important, no matter where you are in your financial journey,” Pam said. “The power of compound interest is like magic. Even if you start by putting $50 a month into a retirement account, that amount compounded over decades can become a significant sum.”

You can make saving easy by automatically transferring your paycheck to a savings or investment account. And take advantage of employer-matched retirement plans, such as a 401(k). “The employer contribution is essentially free money,” Pam said.

BONUS: Do’s and Don’ts From Our CFO

Saving is always a smart money move, but there are things you should and should not do, regardless of where you are in your career journey. It’s all part of financial literacy. Pam shared a few evergreen do’s and don’ts with us:

Do:

• Create a basic budget by tracking your income and expenses.
• Track all spending using an app, spreadsheet, or notebook.
• Ask an expert when you don’t understand a particular financial matter.

Don’t:

• Overspend during job transitions.
• Take on unnecessary debt.
• Ignore your credit score, as a good credit score means better rates on loans and other financial products.

Financial Literacy is Part of Your Tech Career Journey

A career change is a bold step but also an investment in yourself. Pursuing training to break into the tech sector is thrilling but requires careful planning. Too many people let their dreams of a tech career go by the wayside because they don’t see how they can manage it financially. But, as Pam’s advice shows, if you make financial literacy a part of your tech career journey, you can turn your dreams into reality.

Per Scholas is committed to supporting learners along their new career paths with no-cost tuition, state-of-the-art training programs, career coaching, and placement services. You don’t have to handle the financial details of a career change alone. To learn more about our holistic tech training services, contact Per Scholas today.

At Per Scholas, innovation is an organizational imperative, which is why we found a way to improve how we connect our talented technologists with high-demand technology roles. Thanks to cutting-edge AI solutions from AdeptID and Salesforce, we are making significant strides in streamlining our processes and maximizing our impact.

AI-Powered Talent Matching with AdeptID

One of the biggest challenges our Tech Talent Solutions team faced was manually reviewing thousands of alumni resumes to find the best candidates for employer job openings. This process was time-consuming, often taking up to a week to complete—an obstacle in today’s fast-paced hiring environment.

To address this, Per Scholas partnered with AdeptID to develop a seamless Salesforce integration that harnesses AI to analyze each alum’s profile and match them with job opportunities more efficiently. The system generates a ranked list of candidates, complete with insights into their skills and areas for growth.

The Impact:

• Reduced matching time from nearly a week to less than two days
• Increased trust in AI-powered recommendations, with 90% of staff reporting confidence in the system
• Enhanced efficiency, enabling our team to focus on personalized career support while improving job placement rates

As Tamara Johnson, Chief Operating Officer of Per Scholas, reflects, “AdeptID is streamlining our ability to quickly connect our thousands of alumni to our employer partners’ technology hiring demand. By providing clear insights into job fit, AdeptID enables Per Scholas to quickly identify the right alumni candidate for high-demand technology roles.”

Revolutionizing Resume Creation with Salesforce with Agentforce 

In addition to improving talent matching, Per Scholas teamed up with Salesforce to transform the resume-building process. During Salesforce’s Agentforce World Tour in New York City last year, Per Scholas CEO Plinio Ayala introduced Per Scholas ResumeBoost, powered by Agentforce — Salesforce’s proactive, autonomous AI application. Resume creation is a critical step in job readiness, yet it previously required approximately six hours of manual effort per learner. Now, with AI-powered ResumeBoost, learners receive an initial resume draft based on their coursework and performance, which is then refined with the help of our career coaches. This reduces the resume creation process to just 30 minutes, allowing staff to focus on deeper career coaching and supporting a greater number of learners.

The Impact:

• Significant time savings – from 6 hours to 30 minutes per resume
• Greater scalability – enabling Per Scholas to serve more learners
• Alignment with our mission – supporting our 2030 goal to train and upskill 25,000 technologists annually

By integrating AI solutions like AdeptID and ResumeBoost, Per Scholas is reinforcing our commitment to innovation and workforce development. These advancements not only enhance operational efficiency but also accelerate career opportunities for our alumni, ensuring that more individuals gain access to rewarding careers in tech.

Contributions and support from our partners, including the Charles Koch Foundation, Ares Charitable Foundation, and Greenlight Fund, enable us to implement these transformative solutions, making a lasting impact on learners, employers, and the broader tech ecosystem. Per Scholas also leveraged funding from Google, Salesforce, and the Stand Together Foundation for these innovative AI initiatives with AdeptID.

At Per Scholas, the work we do is fueled by passionate leaders who ensure that learners and alumni across the country have access to the opportunities they deserve, and empower them to thrive in their tech careers. Among those leading the charge are Jackie Anderson and Claire Cuno, whose work behind the scenes is shaping the future for thousands of individuals striving for careers in tech.

Jackie Anderson, VP of National Recruitment, Applicant Process, and Tech Integration, is the driving force behind making sure prospective learners have a clear and seamless path into Per Scholas programs. From the first moment someone hears about Per Scholas to the day they begin their training, Jackie’s team is innovating processes to make the journey more accessible, understandable, and efficient.

“My role excites me because I get to play a part in our work supporting learners, especially those from backgrounds you don’t typically see in tech, as they transform their lives,” Jackie shares. “It’s incredibly fulfilling to innovate our processes, not only to support our learners and organizational growth but also to empower our Recruitment & Admissions staff, ensuring they can provide the best possible support.” With a background in community engagement and program development, she continues to drive efficiency and growth, helping Per Scholas expand its reach and impact. 

Jackie’s impact can be seen in the numbers—since 2018, she has spearheaded recruitment for over 15 expansion projects, growing Per Scholas from six to twenty-four campuses. She has also led efforts that have quadrupled annual applications from 17,488 in 2021 to over 70,000 in 2024. But beyond the data, the true measure of her work is in the success stories, like that of a former hairdresser she recruited in Dallas. After completing Per Scholas training, that learner landed a role with a major tech employer and has since grown into multiple positions within the company.

While Jackie focuses on bringing learners into Per Scholas, Claire Cuno ensures they have the support they need to thrive. As Senior Director of the Learner Support Team, Claire leads with strategy, innovation, and a deep commitment to holistic learner success.

“Our work is about more than technical training—it’s about providing the comprehensive support learners need to succeed in their careers and beyond,” Claire says. Under her leadership, the team has introduced new service delivery models, built an MSW intern pipeline, and strengthened the connection between social work, financial capability, and workforce development.

Claire recalls a moment early in her career at Per Scholas that continues to fuel her passion—a cohort of learners in the TechBridge program in the Bronx. “These were incredibly talented 18-24-year-olds who just needed a chance and extra support to build their confidence,” she remembers. Taking them to the Salesforce office in Manhattan for mock interviews was a turning point. “For most of them, it was their first time in a corporate setting. They showed up in suits, nervous but prepared. And they crushed those interviews. You could see the transformation—the pride on their faces was incredible.” Many from that cohort have gone on to build stable, growing careers in tech, lifting up not just themselves but their families and communities as well.

Claire’s leadership is deeply influenced by her background in social work, community organizing, and even youth arts education. “There’s a common thread in all of it—understanding different perspectives and solving problems together,” she reflects. Her experience as a former athlete also shapes how she leads. “I was captain of my soccer and lacrosse teams, and I bring that same mindset to my team—anticipating needs, working through challenges together, and always striving to be the best.”

Since Claire started, she has been able to scale the Learner Support Team from a single position to a robust staff of 15 full-time Licensed Clinical and Masters-level Social Workers and Financial Coaches, complemented by 20 social work interns from nearly 15 universities nationwide. “Our impact has been measurable—we almost tripled learner engagements over the past year, from 7,760 engagements in 2023 to nearly 20,000 in 2024, with data confirming that those who consistently connect with the Learner Support Team maintain higher enrollment and graduation rates than non-participants,” Clair reflected. In 2025, Per Scholas will intentionally expand our work to post-graduation support, with over 25% of our engagement now focused on helping alumni navigate toward thriving wages.

Looking ahead, Claire is focused on expanding the capacity of the Learner Support Team and ensuring their work aligns with Per Scholas’ broader mission. “Personal and financial wellness truly matter for long-term career success. This isn’t just a nice addition to technical training—it’s essential,” she says. She envisions a future where Per Scholas continues to set the standard for holistic support in workforce development, demonstrating that access to opportunity is only the beginning.

Jackie and Claire, along with so many others at Per Scholas, are making sure that learners don’t just enter the tech industry but thrive in it. Their leadership, innovation, and commitment are shaping pathways for individuals to build lasting, meaningful careers—proving that when access meets opportunity, the possibilities are endless.

Many wealthy people, including Oprah Winfrey, J.K. Rowling, and Ralph Lauren, started from humble beginnings and rose from poverty. These individuals are shining examples of those who capitalized on upward economic mobility.

Economic mobility refers to the ability of individuals or families to improve their economic status over time, either within their lifetime or across generations, often measured by changes in income and wealth. Regardless of background, anyone can build wealth based on skills, abilities, and efforts.

While nothing surpasses hard work and dedication, those who learn to make their money work for them can steadily climb the economic ladder. They can also safeguard themselves against unforeseen life events and build wealth, just one benefit of financial literacy. Budgeting, financial management, taxation, and investing play vital roles in this process.

A solid financial literacy foundation can fuel career growth by enabling informed decisions, facilitating better salary negotiations, reducing financial stress, and promoting strategic career planning. This can ultimately lead to increased financial security and career advancement. However, the knowledge, skills, and behaviors associated with financial literacy and their significance are often overlooked. Data shows that roughly half of American adults lack financial literacy, which has remained constant for eight consecutive years.

At Per Scholas, we advance economic mobility by helping learners launch successful careers. Part of that is highlighting financial readiness and planning. Our Chief Financial Officer, Pam Kingpetcharat, is a finance and technology leader, featured as one of the top 50 women in finance for 2025. She provides some insight below.

Why Financial Literacy Matters

“Financial knowledge only leads to economic security, independence, and freedom if you translate that knowledge into practice and understand that it’s not about having wealth but the ability to produce and keep it that matters. There are as many stories about lottery winners who lost everything as there are ‘rags to riches’ stories.” – Pam Kingpetcharat 

When financially literate, you’ll know how to make sound economic decisions, keep and build on what you earn, and grow new sources of wealth. This ability directly correlates to life stability and quality of life.

We asked Pam, “Why is financial literacy especially critical for learners from under-resourced backgrounds?”

Instantly, certain words come to mind, like debt, overspending, and lack of savings, often driven by what we feel about money, our circumstances, and the needs of others. The impact of not having financial knowledge becomes a compounding problem. For example, if youth are unaware of how to spend and budget their money based on long-term goals, they can quickly find themselves drowning in debt, with bad credit and no plan. 

However, there are ways to break that cycle, and the sooner you address your financial concerns, the faster you can achieve upward economic mobility. The results seem almost unbelievable when you pair financial education with a strong career path.

Beyond Training: Building Lifelong Skills

Per Scholas recognizes the power of financial literacy and integrates financial education into its career readiness model. They are interconnected. You can make that money work for you as you earn income in your career. The key is to establish good financial habits from the start. Wealth-building strategies can extend your income further as you begin your career, mainly due to your financial education.

Per Scholas is unique because learners receive tech training and access to financial coaches. These financial planners and experts provide support for financial planning and wealth management.

Pam offered insights into the following question: How does Per Scholas support economic mobility beyond tech industry training? 

In addition to tech training, learners can access:

• Benefits literacy
• Salary negotiation
• Budgeting workshops

Section 3: The One Thing You Need to Know

Another question we asked Pam was this: “What’s one financial concept every learner should understand early in their career?”

Just as poor financial literacy can be a compounding issue, understanding how to maximize your money early in your career can have the opposite effect. While there are many concepts to learn that contribute to the bigger picture, such as credit scores and emergency funds, you can’t underestimate the power of compound interest.

When someone lacking financial literacy learns how compound interest works on an initial investment, it may seem too good to be true. However, it’s easy to observe growth over time as interest is earned on both the principal and the accumulated interest. Therefore, the earlier you start saving, the better.

Unfortunately, compound interest also applies to debt, contributing to downward economic mobility. Understanding this concept and implementing strategies to support it can help you advance in your career instead of stagnating or increasing your debt. The goal is to establish and maintain good habits early in your career.

Speaking of interest, check out how Per Scholas is transforming workforce access with zero-percent loans, zero interest, and zero barriers.

Building Wealth, Not Just Earning

At Per Scholas, we help individuals kickstart tech careers that unlock jobs while supporting them on their wealth-building journey. Anyone interested in starting a career in the tech industry should invest in skill-building and wealth-building — they go hand in hand.

We invite you to explore the following resources:

• Dealing with Debt
• Sustaining Yourself During IT Training: Financial Planning Tips for Success

• Social Finance Partners with Per Scholas to Offer Living Expense Loans to Learners

Have questions? Contact our team today!

Covington, K.Y., April. 4, 2025 — Since launching in July 2015, the Per Scholas Greater Cincinnati campus has trained more than 850 learners, equipping them with critical tech skills such as IT Support, Cybersecurity, and Software Engineering.

Today, alongside community and employer partners, colleagues, learners, and friends, Per Scholas Greater Cincinnati hosted its Satellite Campus Launch at the Kentucky Career Center in Covington with remarks from Covington Mayor Ron Washington, Susan Culp of Archer Daniels Midland, Brent Cooper of the Northern Kentucky Chamber of Commerce, Correy Eimer of the Northern Kentucky Area Development District, and Per Scholas Greater Cincinnati alumnus Michael Stovall. A formal ribbon-cutting dedication and reception followed. 

“We are thrilled that Northern Kentucky residents can begin preparing for their IT careers here in Covington. This satellite campus also means that local employers will have access to an amazing pool of high-quality tech talent right here in NKY,” said Dr. Roger Burns, Per Scholas Greater Cincinnati Managing Director.

“Per Scholas is a game-changer for our community, bringing opportunities for Covington residents to attain highly sought after tech industry jobs following the development of specialized skills,” said Covington Mayor Ron Washington. “Covington is increasingly focused on how we can help develop the talents of our residents who may be unemployed or underemployed but lack the resources to pay for the training they need. Through its rigorous, free training programs, Per Scholas provides solutions. I welcome the Per Scholas satellite campus to Covington, and I look forward to the life-changing impact they will have on our residents and our community.”

Per Scholas Greater Cincinnati acknowledges the generous support of Archer Daniels Midland, Duke Energy, The R.C. Furr Foundation, City of Covington Economic Development Corporation, Northern Kentucky Chamber of Commerce, and Northern Kentucky Area Development District.

With a proven tech training model including both in-person and remote learning hubs, Per Scholas continues to unlock opportunities for individuals, strengthen communities, and drive business success across the state. Notably, every dollar invested in Per Scholas yields an $8 net economic return. Per Scholas Greater Cincinnati is transforming lives and will now be shaping Covington’s future as a thriving technology hub by equipping Per Scholas Technologists with in-demand tech skills at no cost.

To learn more about Per Scholas Greater Cincinnati, follow them on LinkedIn or visit their page.

About Per Scholas

As Per Scholas celebrates 30 years of impact, we are charting an ambitious path forward—aiming to train and upskill 25,000 technologists annually by 2030, expanding access to high-growth tech careers and fostering economic mobility nationwide. Since 1995, we’ve offered no-cost tech training to more than 30,000 technologists in the most sought-after tech skills, generating over $2 billion in increased personal earnings. On average, our learners earn 3x their pre-training wage in their first role after Per Scholas. With 20+ campuses and remote programs, we partner with employers—from Fortune 500 companies to startups—to create inclusive talent pipelines in fields like Cloud, Cybersecurity, Data Engineering, IT Support, and Software Engineering. More than half of our learners hold a high school diploma as their highest educational credential. We are building a future where successful careers in tech are accessible to everyone across urban, suburban, and rural communities, empowering individuals to unlock their potential and drive transformative economic change nationwide.

Learn more at PerScholas.org and follow us on Facebook, Instagram, LinkedIn, X, and YouTube.

We’re honored to be featured in a recent article highlighting an innovative pilot program designed to support workforce training alumni through text-based coaching. The initiative, led by Empower Work and funded by the Truist and GitLab Foundations, is exploring how real-time guidance can help graduates navigate career challenges and improve job retention.

As part of this partnership, Per Scholas is reinforcing our commitment to alumni success by investing in upskilling programs in high-demand fields like cloud computing, network management, and project management. This recognition underscores the importance of ongoing support for our graduates as they build thriving careers in tech.

We’re excited to be part of this groundbreaking initiative and look forward to seeing its impact on workforce training nationwide. Want to learn more? Read the full story to see how Per Scholas and other leading organizations are working together to create lasting career success for graduates!

Los Angeles, C.A., March 13, 2025 — Since launching in March 2023, the Per Scholas Los Angeles campus has trained over 300 learners, equipping them with critical tech skills such as IT Support, Cybersecurity, and Software Engineering.

Today, alongside community and employer partners, colleagues, learners, and friends, Per Scholas Los Angeles hosted a grand opening celebration featuring the graduation ceremony of its first in-person cohort, followed by a ribbon-cutting dedication with remarks from the Los Angeles Area Chamber of Commerce and the City of Los Angeles Economic & Workforce Development Department, and an open house reception.

“Technology is ever-evolving, and so too must we. This grand opening isn’t just about a new space; it’s about opening doors to new possibilities, new skills, and new futures for those who seek to thrive in the digital age,” said Patrice Madu, Per Scholas Los Angeles Managing Director.

Per Scholas Los Angeles acknowledges the generous support of Focusing Philanthropy, The Eli and Edythe Broad Foundation, the Foundation for California Community Colleges, The James Irvine Foundation, J.P. Morgan Chase & Co., Comcast NBCUniversal, Joseph Drown Foundation, Michael J. Connell Foundation, Microsoft, Amazon, the City of Los Angeles Economic & Workforce Development Department, and Match Group.

With a proven model that includes both in-person and remote learning hubs, Per Scholas continues to unlock opportunities for individuals, strengthen communities, and drive business success across the state. Notably, every dollar invested in Per Scholas yields an $8 net economic return. Per Scholas Los Angeles is transforming lives and shaping Los Angeles’s future as a thriving technology hub by equipping Per Scholas Technologists with in-demand tech skills at no cost.

To learn more about Per Scholas Los Angeles, follow them on LinkedIn or visit their page.

About Per Scholas

Per Scholas is proud to celebrate 30 years of fostering economic mobility by giving individuals from diverse backgrounds access to high-growth tech careers. Since 1995, we’ve offered no-cost tech training to more than 30,000 technologists in the most sought-after tech skills, generating over $2 billion in increased personal earnings. By 2030, we aim to train and upskill 25,000 technologists annually—building on three decades of impact. With 20+ campuses and remote programs, we partner with employers—from Fortune 500 companies to startups—to create inclusive talent pipelines in fields like Cloud, Cybersecurity, Data Engineering, IT Support, and Software Engineering. 85%+ of our learners are people of color, 40% are women, and more than half hold a high school diploma as their highest educational credential. We are building a future where successful careers in tech are accessible to everyone, driving transformative economic change.

Learn more at PerScholas.org and follow us on Facebook, Instagram, LinkedIn, X, and YouTube.

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Taranja Lewis and Anthony Khanthavout, alumni of Per Scholas Buffalo’s inaugural cohort, were interviewed by The Buffalo News earlier this month about their experience at Per Scholas. “Everything really, truly was in alignment for me to be here today,” said Lewis, who’s interest in Per Scholas was initially piqued by positive and commendatory comments about Per Scholas Buffalo’s Managing Director, Jeremy Besch, which Lewis found online. From there, Lewis looked into Per Scholas and was intrigued by all that the program had to offer at no cost to learners. Khanthavout, Per Scholas Buffalo’s First Valedictorian, discussed his success in the program, encouraged by his instructors.

Per Scholas Buffalo’s inaugural cohort was an IT Support course, offering the opportunity for learners to earn the Google IT Support Professional Certificate and the CompTIA A+ certification, and equips them with the knowledge to fill a wide range of entry-level technology jobs.

Watch the full interview here.

Per Scholas Houston proudly collaborated with Ion Houston to bring together industry leaders from J.P. Morgan, Microsoft, the U.S. Chamber of Commerce, and our President & CEO for the event, TECHnique: The Unique Perspectives of Leaders in the Tech Ecosystem.

This event offered a unique opportunity to explore the perspectives shaping today’s tech workforce. Panelists discussed challenges and opportunities in technology development, industry needs, tech training opportunities available within the Houston community, and valuable insights into how these organizations collaborate to strengthen the tech ecosystem.

Panelists included Plinio Ayala, Peter Beard, Rob Schapiro, and Karthigeyan Kuppan. Their expertise and the insights they shared tackled key challenges and opportunities shaping today’s tech workforce.

Per Scholas North Carolina was featured on a news segment on “Positively Charlotte.” Per Scholas North Carolina Managing Director Michael Terrell joined alum Shana Franks on the program to discuss our no-cost training and recent $1 million grant from The BlackRock Foundation.

Watch the full segment here.