Anyone who is interested in coaching should want to know the average salary of a life coach. No matter what career one is considering, one of the most important questions to ask is, “how much money will I make?” Like it or not, the world revolves around money. Whether you want to have the ability to buy luxury items or take fancy vacations, or you merely want a roof over your head and some food in your belly, it takes money to survive. With the current economy a roller coast ride, it takes even more money to survive and save.
What is the Salary of a Life Coach?
The salary of a life coach is…it all depends. Depends on what, you ask? The are several factors that can determine salaries of a life coach.
- Training and education. Many people make the transition to life coaching from other fields. If you have been a counselor for many years, you may command a salary in the higher range when you become a life coach. If you have several years of experience in the working world, you can use that experience to ask for higher fees and a higher salary. If your first career move is as a life coach, you will most likely start at the lower end of the fee scale.
- Where you live. Just as the cost of living is higher in certain places, the salary and fee rates are also higher in places. A life coach, experienced or not, can charge a higher rate in New York City than one can in North Dakota. Location does matter, and it usually follows that the higher the cost of living, the higher the life coaching salary.
- Reputation. The more people you help, the more your reputation will grow. The better you serve your clients, the better the reputation you will have. Give extra help to your clients, promptly answer your emails, occasionally provide free help to clients on the phone, and do everything you can, within reason, to help your clients reach their goals and dreams. If you offer superior value to your clients, potential clients will hear about it and start flocking to your door. A good reputation brings a good salary. A great reputation brings a great salary.
- The salary of a life coach can also be supplemented by offering additional income streams. Offering group coaching, seminars, and webinars can increase your client base, your reputation, and your income. Creating informative DVDs, books, articles, websites, and other media is another great way to boost life coaching income.
- Experience. The longer you work as a life coach, the more you will make. Experience not only makes you a better coach, it also makes you seem like a better coach. Perception is often as important as reality.
- Skill. Ultimately, the money you earn as a coach will come down to skill. Education and experience will provide you with the necessary foundation to make good money, your location will determine the basic parameters, your additional income streams will boost your income, and your reputation will derive from your skill. The skills you have as coach will be the most important determinant for your salary as a life coach.
There is no average life coaching salary – it all depends. It depends on you and how much you want to be a successful life coach. The salary of a life coach – it all depends!
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