Salary for life coach? Good question. Or it should be. I figured salary.com was a good place to start. Salary. Life coach. Type them in and there you go. Sounds reasonable but what do you get? Salaries for various kinds and levels of athletic coaches. And salaries for several unusual jobs in the insurance industry that I have never heard of. So are there no life coaches? Are they not paid? Or do they not get salaries?
There Are Life Coaches, and There Is Life Coaching
According to the Life Coaching Institute of America (LCIA) “a life coach is a professional that has a desire to partner and collaborate with individuals, groups or businesses to evaluate, strategize and assist others in reaching their goals.” Based on this definition there are life coaches and people who are interested in receiving their services. But why no mention of a salary for life coach?
Two Salary for Life Coach Choices
Either life coaches don’t get paid using a salary structure, or they are not called life coaches when they are. Coaches, generally, are paid based on the services that they provide, either based on coaching hours, coaching sessions or using a value-based scheme. When coaches are employed in a traditional job structure and they are paid based on an hourly rate for a regular forty hour workweek or based on a fixed annual salary, they are performing a life coaching function but they hold different titles. For example, they might be called counselors or therapists. Otherwise the concept of salary for life coach just doesn’t make a lot of sense.
So just How much Can a Life Coach Make?
Well after you set aside the concept of salary for life coach, it is all up to the value that your client believes you deliver to them. If they think your value is $1,000 per hour or per session, so be it. If all your clients feel the value you deliver per hour is more like 75 cents, don’t expect to get a buck per hour for very long. Fortunately, people value the quality of their lives pretty highly, and as a result a really effective life coach can make a comfortable living, if not a salary.
By the way… you’re invited to claim your FREE step-by-step “Life Coach Salary Secrets” video toolkit. Just go HERE now to get your Life Coach Salary Secrets.
Dave Iuppa
JTS Advisors Strategy and Accountability Coach
Hey Dave/Jeffrey,
Great question … Looking at it from a network marketing industry standpoint I feel that the best payment for my own coaching services comes from the success of my own team. Since my income is directly related to their level of success I spend much of my time helping those who have joined my team build a solid business over time.
Having someone join my opportunity and then charging them a fee for my consult would be ridiculous.
Likewise giving consult to people who are not involved in my company would take too much of my time and thus impede the growth of the team.
My thoughts … If I want to make more money then I need to help those on my team make more money … that’s what this amazing industry is all about!
Thanks for sharing,
Kevin
Good question and advice – I also think it’s important to identify and target the right client base. Anyone adversiting their coaching business in the local penny saver is probably not going to attract a client base willing to pay very much.
For me it is simple, what the market will bear