How Much Does a Life Coach Earn?

In reality it depends very much on how good the life coach is. The very good ones can earn upwards of $400 per session. However, these tend to be the coaches used by celebrities and top business executives. The average life coach will charge between $40 and $100 for a 45 minute face to face session.

So, during the course of a day a coach could have potentially up to 8 slots. If they filled all 8 slots they would be earning between $320 and $800 per day. For a 5 day week that makes between $1600 and $4000. Over the course of a year you are talking around $75,000 to $200,000. Not bad!

However, that isn’t necessarily realistic as most coaches do not fill all of their slots every day. Good coaches will fill the vast majority – so maybe 6 or 7 out of 8 per day. The average life coach will fill around half their slots. These tend to be focused more towards the evenings and weekends so the coach needs to be flexible in order to maximise his or her booking rate.

So if we look at an average coach, say charging $50 per session and filling around 50% of slots averaged over the year. The income now looks like $200 per day. $1,000 per week and around $50,000 per annum.

That is a realistic income for an average life coach. However, the potential to earn more is enormous. Remember earning $50,000 per annum means you’re only working 4 hours per day. You can fill the rest of the time with email and telephone coaching to boost income. That could raise income by a further $25,000 per annum relatively easily. So now we’re looking at $75,000 per annum as a realistic income and working perhaps around 6 hours per day, for 5 days a week. Take a few weeks off for a holiday and maybe your income will drop to around $60,000 to $70,000 per annum. Not bad, especially working from home!

Choosing an Executive Coach – Pick For Feedback Loops

Choosing an Executive Coach

Are you working in a company or law firm where leaders have an executive coach and are enrolled in a leadership development program?  Does your organization have a well developed plan to hire the right executive coaches that are a good fit with the company culture?

One of the most powerful questions you can ask is “What executive coaching qualities should we look for when hiring the best executive coaches for our company leaders?” Emotionally intelligent and socially intelligent leaders have a well designed plan for selecting the right coaches for their executive coaching and leadership development programs.

Pick for Feedback Loops

An executive coach must serve as the conduit for colleagues’ feedback. Your peers will rarely share authentic feedback with you, and a skilled coach can solicit important information in a way that satisfies confidentiality requirements. Clear agreements, established boundaries and skilled diplomacy are critical.

Your  executive coach should help you develop the skills needed to create relationships in which you can ask for honest feedback on an ongoing basis. Regular feedback from valued colleagues is the “Breakfast of Champions”!  An executive coach certified in the Bar-On EQ-i 360 can interview critical people at work and gather data to help you improve your effectiveness at work.

Instead of encouraging dependence, your executive coach should teach you how to manage your development in the future. After an initial assessment, a good coach shows you how to form links with colleagues and teaches them how to frame useful, specific feedback instead of vague judgments. Your 360  feedback team can support you when they observe you leveraging your strengths and making a significant contribution to achieving team and organizational goals. Alternatively, the members of your 360 feedback team can challenge you when they perceive you are still exhibiting behaviors you had agreed to change. The goal is for you and the organization to get better and be more effective.

Your executive coach will teach you to ask for feedback and manage the conversation without being defensive. This includes learning how to determine which feedback is relevant and valid, prioritize the issues you need to address and figure out how to handle them.

Working with a seasoned executive coach trained in emotional intelligence and incorporating leadership assessments such as the Bar-On EQ-i and CPI 260 can help company leaders have a successful executive coaching and leadership development experience by choosing the right executive coaches. You can become a leader who models emotional intelligence and social intelligence, and who inspires people to become happily engaged and aligned with the vision and mission of your company or law firm.