Life Coach Salaries Tips
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Average Salary For a Life Coach
Life coach salary and income can vary quite a bit. The level of experience of the coach and the type of coaching they do are just two factors. Business, life, fitness and executive coaching incomes can fall in a wide range. Christian coaching is sometimes offered free though churches, while coaching offered by well-known public figures can cost thousands of dollars per session.
A Variety of Factors
Life coaches could be described as a hybrid of a consultant, a counselor and a confidant. They help their clients to overcome personal struggles and think and act more resourcefully. Higher achievement and personal growth are the goals. Executive coaches assist executives with behavior-related issues to improve their performance.
According to a recent Sherpa Executive Coaching Survey, the average life coach salary is $160 per hour; coaches who specialize in business coaching come in higher, averaging $235 per hour. Executive coaches earn $325 per hour, and in some cases much more.
Experience Counts
Experience is also a factor when it comes to life coach salary; new coaches may charge $100 or less per hour, while more experienced coaches with established results may charge upwards of $250 per hour. The skill level and training the coach has as well as their area of focus are factors as well.
The Sherpa study also found that the most successful coaches tend to see about 6 clients per week. A limited number of clients means it's easier for the coach to be at the top of their game with each client, better able to provide excellent service and results. As the coach's track record grows, so can their hourly rate. As for annual salaries, the median life coach income for all types of coaching is $40,000 per year, while Sherpa reports that executive coaches can make $55,000 to $116,000 per year.
What Type of Life Coach Makes the Highest Salary?
A life coach is an uplifting blend of counselor, consultant and confidant. The best coaches are able to assist their clients in overcoming obstacles and living life more effectively and enjoyably. Personal growth and higher achievement and are the goals -- but at what cost?
Life Coach Salary
Life coach salary can vary quite considerably depending upon the type of coaching being offered; the level of experience of the coach is also a factor. While business, health and relationship coaching all fall in a similar range, executive coaching tends to cost considerably more. Executive coaches assist executives in overcoming behavior-based issues and personal blocks in order to improve their performance in the workplace.
Another area where life coaching can cost a premium is if it is offered by renowned expert in a field, a celebrity, or other well-known public figure. Coaching from one of these high-profile figures can cost, in some cases, thousands of dollars per hour.
Executive Coaching
A recent Sherpa Executive Coaching Survey determined that while business coaches make about $235 per hour and the average life coach salary is $160 per hour, executive coaches earn at least $325 per hour, and in many cases a lot more.
The study also found that a higher hourly rate tends to be associated with a more limited number of clients. The most successful life coaches meet with just 6 clients a week. Having limited clientele means it's easier for the coach to do their very best work with each client. As the coach's success rate, track record and reputation gets better and better, so does their hourly rate. Experience is definitely a factor in life coach salary.
As for annual life coach salary, while the median income for general life coaching is around $40,000 per year, executive coaches can make an average of $55,000 to $116,000 per year. Expert and "celebrity" life coaches can make upwards of hundreds of thousands per year in coaching fees.
How Much Do New Life Coaches Make Compared to Experienced Ones?
Life coaches assist people in work, health, relationships, and more. From business to career to health and relationships, there's a life coach available for just about any issue. With the advent of Skype, free cell phone long distance and voice over internet calling, coaches can do their work from anywhere in the world. But just how much do life coaches make?
A Range of Rates
General life coaching in areas such as career, business, relationships and fitness all tend to fall in a certain range; however, specialty areas like executive coaching can cost quite a bit more. This is partly because the "stakes" are higher in executive coaching; executives are responsible for multi-million dollar companies, so optimal performance is crucial.
Coaching can cost a premium if offered by a celebrity, a specialist, an expert or other renowned figure. Coaching from a high-profile public person can cost thousands of dollars per hour.
Experience Matters
The level of the coach's experience is also a significant factor. While brand new life coaches make from $50 to $100 per hour, more experienced ones can make $300 per hour or more. The average income for life coaches is $150 - $160 per hour.
Business coaches can start at around $150 per hour and make an average of around $235 per hour. Executive coaches boast an average of $325 to $500 per hour, and even more as their level of experience rises.
How Much do Life Coaches Make Per Year?
Beginner coaches may only make a few thousand annually as they are growing their business, but the median income for life coaches is around $40,000 per year. Executive coaches average $55,000 to $116,000 per annum, and expert or "celebrity" coaches can make hundreds of thousands of dollars per year.
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