What’s your salary – life coach?
That’s a great question, and probably one anyone should consider before getting into the life coaching field.
Make a Difference and Make Money
Most coaches get into the field because they want to help people reach their goals and dreams. They see life coaching as a dynamic industry in which you get to help others while making a living. Many see coaching as a calling.
However, no matter how noble your intentions are, to continue coaching, you need to make enough money to survive. You want to be able to make a difference and make money! You want to know what kind of salary you can make as a coach.
Salary: Life Coach
Here’s some facts:
According to Glassdoor.com, the average base salary of a life coach is $42,283. They also list average additional coach compensation as $4130.
According to a Sherpa study done in 2012, life coach: salary ranges from $55,000 to $116,000. This includes business and executive coaches, which tend to skew the range upwards.
According to Payscale.com, the range is quite broad: salaries range from $26,763 to $210,464. This survey probably included those working part time and others who have been in the field for many years.
An International Coach Federation (ICF) study in 2016 found that the average annual income for coaches in North America was $61,900.
Salary: Life Coach? The answer to that question is: it depends.
How to Make More Money as a Life Coach
If you work for a coaching company or a corporation, your salary is fixed and making additional income is probably not on your radar. However, if you own a practice and work for yourself, you are probably looking for ways to increase your income and salary. Life coach income can depend on many factors and also allows for additional streams of income.
Here are a few things to consider when looking for more income as a life coach:
- Experience matters. Have patience and if you build your reputation and client base, your income will gradually increase.
- Expertise matters. Continue your education through programs, classes, and seminars. Earn additional certifications and continually pursue more knowledge – your income will eventually reflect your expertise.
- Marketing matters. You probably hate it, but it is a necessary evil. In today’s digital world, marketing can be easier than in the old days. You don’t have to cold call or pay for newspaper ads – build a website, use social media, advertise online (free and paid), write content, and promote. Don’t forget old-school networking as a time-based, yet free form of promotion.
- Additional streams of income matter. This is how a coach can move beyond one-on-one coaching and really boost their salary. Life coach income can be increase through group coaching, seminar and workshop coaching, articles, DVDs, books, and online coaching.
- Niches matter. If you can create a unique niche, you can make yourself a big fish in a small pond. With less competition, you can brand yourself an expert. Just be careful not to narrow your target market too much!
Writing Team, Coaches Training Blog Community