Professional Coach Salary, Life Coach Salary, and Academic Coach Salary
Professional coaching, life coaching, and academic coaching are viable professions that can be rewarding and lucrative. There are many variables that contribute to a life coach’s salary or an academic coach’s salary. Both professions can be entrepreneurial, but there are many opportunities for employment as well. Academic coaches tend to be hired positions.
A life coach’s salary or academic coach’s salary depends on how many hours a coach is coaching weekly, their credentials, and whether or not they are self-employed or employed by an organization.
Average Annual Coaching Salaries
Salaries and income for a coach can range anywhere from $24,000 to $125,000 annually.
According to ICF’s 2020 annual report, the average annual revenue and income from coaching in North America are $62,500, Asia is $33,600, Eastern Europe $19,100, Latin American and the Caribbean $20,900, Middle East and Africa $34,900, Oceania $61,100, and Western Europe $51,100. (From a total of 22,457 valid responses from 161 countries and territories).
Annual income depends on how much a coach charges for their coaching, how much they are coaching, if they are credentialed or not, and what other services they offer. It can depend heavily on if the coach is credentialed, if the coach can effectively market themselves and is willing to put in hard work.
Hourly Rates
The hourly rate does depend on the country and area you are coaching. It also depends on if you are credentialed by ICF or not. Being credentialed can you put at the higher end. Doing your own market research for credentialed coaches in your area will be necessary. An hourly rate is typically defined by a 1-hour coaching session.
How Much Should I Coach and Charge?
Typically, a coach will coach about 10 people at a time. For a total of 10 hours a week of coaching. A coach’s salary depends on the packages they offer clients or coachees.
Coaching packages can be in 5 to 10 session packages. Typically, the coach does not charge by the hour but by the package.
Coaching packages do depend on the hourly rate the coach has broken it down by.
A client or coachee would typically pay for the costs upfront prior to the coaching sessions beginning.
Coaching sessions are typically on a weekly basis but can also be bi-weekly.
Sometimes coaches will work out monthly fees instead of package fees. The options are endless for how a coach wants to manage their business.
Other Coach Offerings
COACHES CAN OFFER A VARIETY OF SERVICES.
Podcasts
Group Offerings
Public Speaking
Workshops
Publications and Blogs
What does it take to succeed?
If you are starting your own business, it takes knowing that success will not happen overnight. It takes hard work and dedication to start and run a viable business. Starting out, you will spend 20% of your time coaching and 80% of your time running your business. Running your business means marketing, business admin, and many other things involved in starting and running a business.
If you are hoping to find employment as a coach or academic coach, knowing that getting a credential from ICF will help you stand out and have the best opportunity to move forward. The best coaching programs have credentialed coaches.