Have you ever wondered what’s the average life coach salary per year? In this article, you will learn more about how much money you potentially could be making as a life coach. Not only is becoming a life coach the ideal job for someone who loves helping people become the best versions of themselves, but it can also quickly become a financially rewarding job. Let’s dive into the figures.
What is the Average Life Coach Salary Per Year?
In 2021 the average fee for a one-hour session with a life coach is between $13 to $147, according to Payscale.com. Like any other profession, life coaches can charge more per hour depending on how long they have worked as a life coach. While you often have to take a smaller salary at the beginning of your career, you can slowly bump up your fee as you have more experience. It typically goes like this:
– Less than 1 year of experience: $128 per hour
– 1-2 years’ experience: $152 per hour
– 3-4 years’ experience: $194 per hour
– 5-10 years’ experience: $256 per hour
– 10+ years’ experience: $321 per hour
A life coach’s salary per year is anywhere between $25,000 to $250,000. However, the life coaching business takes patience, hard work, and dedication, and the average global life coach salary per year is $47.100.
Different Ways a Life Coach Can Earn Money
While the salaries above just are the average fee a life coach takes for the typical one-on-one sessions, a life coach can generate income in many other ways.
The opportunities for creating more income and finding more ways to help a lot more people are endless. Different ways a life coach can utilize to earn more money and create a serious pay check include:
– Group coaching
– E-mail courses
– Life-changing video series
– Selling books and e-books
– Audio series
– Newsletter subscriptions
– “How to” manuals
– And much more…
As you can see, there are many other ways of creating a steady income than just doing one-on-one sessions. Use your knowledge, competencies, and creativity, and you can begin earning a lot of money doing what you love.
How Should a Life Coach Charge His or Her Fee?
When setting your life coach fee, there are a few different things that you need to think through. First of all, you need to think about what you feel like your life coaching hours can give to another human’s life. The difference between two life coach fees is the perceived value in their clients’ eyes – not their “worth”.
Secondly, you need to do some market research. What are existing life coaches charging in the same area as you want to provide life coaching?
Last but not least, you have to account for your own needs. Your fee must be able to pay you a good monthly salary, while also covering all the other costs, like business expenses, taxes, insurance, retirement, and so on.
These three factors combined should help you land on the right fee for your life coaching services.
Writer, Coaches Training Blog community