No one can tell what’s your life coach salary per hour would be like, but coaching is a billion dollar industry. That means it is in good company with some of the biggest earners. The streaming music industry is now a billion dollar industry as is the comic book convention industry. Sports are also a billion dollar industry. So, you can see that there is some huge potential for earnings.
So, how much can a life coach salary per hour be anyway? That’s an easy question to answer, but extremely difficult at the same time, because you’re probably looking for a figure.
The real answer to that question is: an
unlimited amount. But what you really want is an answer that goes: if you do X and then Y you’ll make Z dollars per year, preferably with at least five zeros. How much your salary per hour will depend upon these things: How well known you are (or can become), how good you are at your job, your reputation and luck.
Just for the sake of motivation however, here are some of the top earning jobs in the coaching industry and how much they are commanding per hour on average according to Sherpa Coaching.
Executive Coaches: $325 per hour – Executive coaches are coaches that work exclusively with executives on a variety of issues. Companies invest in these coaches in order to improve the efficiency and effectiveness of their top management people.
Business Coaches: $235 per hour – A business coach does basically the same job as executive coaches but for the rest of the company. Some
companies spend millions on improving their employees and usually see profitable returns.
Life Coaches: $160 per hour – A life coach is different from either of the coaches that are listed above. Life coaches help people with all of the personal goals that they want to achieve. For example, relationships, confidence and other areas where people want to improve. Life coaches’ salaries per hour vary according to the niche area they enter.
Life Coach Salary Per Hour: How Much Should You Charge?
A good pricing model to follow is to sit down and determine what sort of an hourly rate you think that you deserve based upon your own experience, your level of coaching and the rates that other people in the area or other areas are charging for the same type of services that you provide.
Then, start creating a list of the services that you’ll be providing to your clients and determine how long those services will take to provide. Then, you’ll have a pricing model that you can use.
One thing that you should definitely not do is try to price your services to undercut the competition. While this might work in the retail world and with the guy who mows your lawn, this might not be the right approach when it comes to coaching.
People who hire coaches don’t do it based upon the price, they do it based upon how much they like the coach and how confident they are that their coach will be able to help them reach the goals that they have set for themselves. Being the lowest priced coach in your area might actually backfire and leave you with no business whatsoever.
The Free Trial
Rather than trying to entice customers with a lower price, a much better idea is to offer them a free session or some other kind of service that will let them see just how valuable your services are and allow them to decide whether or not your coaching style fits their needs.
Offering a free trial has the exact opposite effect that pricing your services to undercut the competition does – the effect you were going for in the first place – making them believe that your coaching services must be the best around if you are confident enough to offer them a session at no charge.
Writer, Coaches Training Blog community