Recently, a colleague requested a life coach salary quote from me concerning average hourly coaching rates. Most surveys, books, and blog posts on life coach salary focus on coaching hourly fees, but I don't know a single coach who charges by the hour.
Why is that?
I think most people looking for information about life coach salaries are either new to coaching, or they're thinking about becoming a coach, and assume coaches charge by the hour like most professionals.
Coaches aren't like most professionals.
Master coaches are really unlike other professionals in many ways, but virtually all successful coaches, who run their own businesses, charges by calendar time, not clock time.
What do I mean by that?
Most professionals charge by the hour. That's clock time. For example, if you hire an attorney, they will charge you by the hour, usually in 5-minute increments. So, if your attorney charges $250 per hour and you call for a three-minute conversation, you'll be charged $20.83 for that conversation. I've never heard of a coach doing it that way. And I know a lot of coaches.
Coaches charge by the calendar and that allows freedom and customization.
The hallmarks of great coaching are extreme personalization and customization, meaning you and your client are free to co-create the coaching service in real time. Neither of you knows exactly what to expect when the client hires you and you don't want them to hold back on calling you, just because they don't want to pay an extra $20. You want them to call with a question, if it will help them reach their goals more quickly.
Charging by the hour puts money first, clients second.
As every new coach who takes our Certified Competent Coach course, learns on the very first day, coaching is all about the client. Most people have never experienced anything that is all about them, especially as adults, and it is transformative. If you charge your clients for each little benefit they receive with your coaching, you let money become a barrier to their growth and success and you communicate that your business about you and the money you make, more than it is about them.
So how do real coaches charge for their coaching services?
Most coaches charge by the month and everything that is included with the coaching is covered by that one fee, which is paid in advance and is usually automated. That way, you and your clients never have to think about the money. Some coaches charge by longer chunks of time, such as three or six months. This is common in business and executive coaching, but even if you're a life coach, who charges by the month, require a minimum time commitment from new clients, such as three months, so they make substantial progress with you.
Get the money out of the way and focus on coaching your client.
Want everything you need to know about life coach salary? Get the FREE Life Coach Salary eBook: