Does the average salary for life coaches matter to you? Did you become a life coach based on the potential or expected salary or income? Are you hesitant to pursue a life coaching career because of the chance for an expected income?
Making a Difference as a Life Coach
Many coaches get into the field because of the opportunity to make a difference in the lives of their clients. They see life coaching as a calling; as a career where you can help others while still making a living.
However, you still have to make a living. And many people want to have a comfortable life and be able to afford to take care of their families in the best way possible.
Can you make a difference in the world and still make a comfortable living?
As a coach, it is possible.
What’s the Salary for Life Coaches?
According toe Payscale.com, life coaching salaries range widely, from $26,000 to $210,000. That’s quite a difference!
A 2016 International Coach Federation study found that the average annual income for life coaches was $61,900.
A Sherpa study done in 2012 also found a range of salaries, from $55,000 to $116,000.
It’s clear that the salary for life coaches has a wide range. Are there ways to make sure your salary or income is at the higher end of this range?
Making the Big Bucks as a Life Coach
Are the ways to ensure that you are at the higher end of the pay scale for a coach, whether you work for a company or work for yourself? Glad you asked!
There are a few things that can influence the salary of a life coach. Though some external factors influence how much you can make, most factors are within your power to control.
5 Factors that Influence Your Life Coaching Salary
- Experience. The power of experience can’t be overestimated. Just putting in your time will help increase your salary but getting the most out of your experience matters just as much. This means to always do your best and find the most outcomes for your clients!
- Expertise. How much knowledge do you possess? How big is your coaching toolbox? How damn good are you? It matters!
- Training. Though there are no specific training requirements, education and certifications matter – they tie in directly with expertise and experience.
- Reputation. Your experience, expertise, and training often help to create your reputation, but feedback response, customer service, and the outcomes you help your clients find are important factors in determining the salary for life coaches.
- Marketing. You thought you could escape marketing? Well, you can if you work for a coaching company or an HR department. But, if you work for yourself, you will have to become a marketer or hire one who knows what they’re doing!
- Extra Business. Most highly successful coaches create additional streams of income. They write books. They develop DVDs. They present seminars. They go global through online coaching. They expand their coaching brand into other types of businesses. These additional sources of income really expand the salary for life coaches – building more businesses around your coaching can push you far beyond the standard range of salaries!
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