Life coach prices: If you are starting a career as a life coach or seeking a life coach to achieve some goals, you probably wonder how much a life coach cost? What are the hourly and monthly rates of life coaches?
To answer these questions, in this article, we will cover everything related to life coach prices, including:
- Why do some coaches charge more than others?
- Life coach hourly and monthly rates
- Different kinds of coaching packages and how much they cost
Who Is A Life Coach?
A life coach is a businessman who offers his/her services and helps individuals achieve certain goals. Most people confuse a life coach with a therapist. They seek a life coach when they need a therapist and vice versa. This is why it is important to differentiate between a life coach and a therapist.
A therapist is a healthcare professional, while a life coach is a wellness professional. Life coaches have nothing to do with your mental health; these professionals help you improve your relationships, career, and day-to-day lives. In comparison, therapists treat your mental health disorders and emotional traumas.
Why You Need A Life Coach?
A life coach can help you develop and identify solutions to your problem. Life coaches target your unique gifts and skills and allow you to achieve your full potential and desired goals. Plus, if you are stuck in your life at some place, a life coach can guide you toward success and a better future. Other than these, a life coach helps you:
- Identify your true potential and passion
- Improve creativity
- Build better and stronger relationships
- Achieve work satisfaction
- Increase confidence
- Gain financial stability
- Improve work-life balance.
Life Coach Prices: How Much Does A Life Coach Cost?
Compared to therapy, life coaching is a short-term process. This field is related to helping you with relationships, stress, career, spirituality, and developing positive habits. The cost of a life coach depends upon different factors, such as:
Type Of Service
There are two types of life coaches available out there: internal life coaches and external life coaches. An internal life coach is a salaried person and works within an organization. On the other hand, external coaches are self-employed and can see as many clients as they want. In comparison, an external life coach earns more than internal ones and is more flexible in their field.
Geological location plays an important role when it comes to life coach rates. According to a study conducted by the international coaching federation, different countries and territories have different average life coaching salaries. The study reported the following results:
- North America — $62000
- Oceania — $61000
- Western Europe — $51000
- Africa and the Middle East — $35000
- Asia –$34000
- The Caribbean and Latin America — $21000
- Eastern Europe –$19000
Another factor that affects life coach prices is their experience. If you seek a life coach with more experience, that specific life coach will cost you more compared to a new coach. According to one research, the average life coach hourly rates varied by their experience are:
- Less than one year of experience — $125
- Up to two years of experience — $160
- Up to four years of experience — $190
- Up to ten years of experience — $275
- More than ten years of experience — $350 and more
Some clients achieve their desired goal in a single session. These sessions can help you with goal-setting and short-term guidance. This scenario is best for those who want to pay season-by-season basis.
However, sometimes you have to create an ongoing relationship with your coach to achieve your desired goals. In that case, it would be best for you to select a life coaching package. In life coaching packages, a coach offers more interaction and sessions. It is more economical to buy a full life coaching package for exploring careers, relationships, life transitions, and professional growth.
In general, a six-month life coaching package can cost between $1200 to $2000, and a three-month coaching package costs anywhere from $300 to $650. A few life coaches also offer monthly life coaching packages that charge anywhere between $220-$750.
Sometimes, a life coach has to travel from one place to another to provide his/her services. In that case, that professional may charge some additional fees for traveling to the client’s office or home. These charges cover extra transportation expenses and additional time.
Life Coach Prices: Certification And Training
A life coach does not have to be certified or require a training program. However, most coaches prefer an advanced degree and a certification approved by a well-known organization. If your selected coach has an ICF-approved certification, training program, and an advanced degree, he/she may charge more than a professional without a similar background.
Is It Worth Hiring A Life Coach?
As you can see, partnering with a life coach is not that inexpensive. So you may be wondering, “ is it worth investing that kind of money in life coaching?”
Well, the answer is YES! And here is why:
- If you want to grow professionally, a life coach can help you grow your finance and develop better discipline.
- If you want to improve your relationship and don’t know how – a life coach can help you attain this goal.
- If you want to start a new career, a life coach can give you unbiased advice to help you make better career decisions.
- If you are stuck at the same place in your life and struggling with making meaningful changes, hiring a professional coach may help you make those changes.
Why Some Life Coach Charge More Than Others?
The target clientele of a life coach plays a vital role in influencing their life coaching prices. For instance, a life coach that targets CEOs and business people will charge more than a coach who works with average individuals.
In addition, some life coaches charge more than others because they use some additional techniques, such as guided meditations, NLP, hypnotherapy, among others. Well-experienced coaches who practice complex methods, such as hypnotherapy, are going to charge more than those who do not.
Why Is Coaching So Expensive?
Coaching is expensive because of the perception that it is costly and high-end service. Thanks to this discernment, most coaches charge more than average to avoid being a bargain basement life coach.
In addition, life coach prices are high because coaches work with a limited number of clients. According to a study, on average, a professional coach works with less than 10 clients per week. Due to the fewer clients, a coach charge higher to accomplish his/her income goals.
Should You Hire A Low-Costing Life Coach?
Life coach prices: For several reasons, we don’t recommend working with a low-costing life coach. Most low-costing coaches are new to this field. The chances are that they don’t have enough experience to help you out and don’t know what techniques are effective and what isn’t. Plus, if you seek to learn how to take care of yourself, say no, or create healthier boundaries, you need a retired or wealthy life coach who knows how to set the boundaries.
What If You Cannot Afford Life Coaching Prices?
Accomplishing some specific goals is important for all human beings. To achieve those goals, hiring a life coach is a rational choice. However, what if you cannot afford a life coach?
In that scenario, you have some low-costing options, including:
- Write a Journal: If you don’t have enough money for a life coach, you can write your thoughts and emotions in your journal. A journal can help you achieve a clear vision of your next step. Remember that journaling is an effective form of therapy, plus it is completely free.
- Local Support Group: There are several other people facing problems similar to you. To solve your problems, you can find a support group of kindred spirits and help them out too.
- Re-Evaluation Counseling: Re-Evaluation counseling has been around for decades. This peer-based counseling is free and has helped millions of people.
- Therapist: Most therapists offer coaching services. Suppose you cannot afford a life coach but have health insurance. In that case, you can find an experienced and skilled therapist who takes your insurance.
Life coach prices: Life coaching is a $2.8 billion industry. According to the international coaching federation, more than 71,000 life coaches are available worldwide, and about 23,000 are based in North America. All these life coaches charge different hourly rates. On average, a life coach can charge up to $274 per session.
There are different factors that affect life coach prices. These factors include:
- Type of Service
- Geographical Location
- Session Length
- Training and Reputation
Some life coaches charge season-by-season. However, you can also select long-term coaching packages. Compared to single sessions, long-term coaching packages are more economical and cheaper.
Even though experienced life coaches might charge a lot of money, we highly recommend partnering with them. It would be best if you considered coaching as an investment that will improve your lifestyle in the long term.