When researching anything, more often than not, one of the deciding factors will be money. But when you’re trying to find a coach, be it an executive coach or a life coach, how do you know what’s ridiculously expensive and what’s more an average cost?
As an Executive & Leadership Coach myself, I realised that pricing is typically based on a number of individual factors. I’m going to walk you through 5 of the most relevant ones to help you know exactly what you’re getting.
1. Their training
Most coaches will have done some sort of training, which can range from completing a 6-week online course at home, to undertaking a year-long intensive training and certification programme that involves recording coaching hours and individual supervision. When they’ve done sufficient coaching hours, they can then register with the International Coaching Federation; a governing body monitoring the quality of coaches and their practice. Registering with the ICF was an easy step for me as I wanted to assure my clients that I’m offering quality coaching.
Finding a coach with an ICF registration could mean that they’re charging more than expected but it also means that you’re getting someone who is fully trained, up to date on techniques and therefore their quality of coaching will be worth the cost.
2. Their experience (professional and personal)
Rarely does a coach start immediately with a full-time coaching practice; it takes time to work out the who, when, where, what and why of your practice as well as your ideal client market. Usually they’ll set themselves up alongside some form of part-time paid employment while they build up their practice and experience.
Coaching is nearly always a second profession choice; it’s unlikely you’ll find someone coaching immediately after university. However, I find that works in your favour as not only are you getting a coach with the right training but you’ve also got their life experience counting towards their repertoire of skills and knowledge.
My previous experiences working in a range of NHS and not for profit palliative health care roles as well as project and programme management and consultancy roles, means that I’m able to share my wealth of understanding and knowledge of office business, as well as my skills as a certified coach.
3. Their industry
The corner of the market or their niche can have an influence on price. Like with most things, people like to stick with what they know and, in this case, that means the industry where they’ve worked previously or know the most about. This could be the charity sector, sales, travel or executive business and in terms of pricing, coaches will usually charge according to the industry.
If they’re working in B2B, then they’ll expect to be paid accordingly. And the more exclusive the industry, the more their fee will be.
However, this doesn’t have to be the case and a good coach should be able to coach anybody on any number of topics; you don’t need to have that experience to be able to help. Being a woman, a mother, a divorcee and working in the NHS health sector, often means that I can relate on many levels with my clients, even if we’re not in the exact same industry.
4. Their packages and offers
Most coaches charge by the hour, some may have a fee for a fixed number of sessions and some will have programmes that aim to solve a specific problem at a set price. The prices of these will range depending on their length and what else is included.
Coaches might also offer a membership group as part of their practice with a monthly or annual joining fee. This can be a good option to those who aren’t sure about the coach, the money or simply want to see how it could help them. Membership groups allow people to share without feeling overly vulnerable and to be coached without the commitment of a 6-12 month programme.
5. Their self-worth
What does the coach feel they’re worth? This is ultimately dependent on their self-esteem and how they view themselves. Of course, I'm not advocating arrogance but they should be confident that they know what they’re doing and that they can help you. I found that that as I grew more competent and experienced, I felt confident in the prices I was charging for the expertise, skills and growth offered to my clients that I know will help them.
When it comes to self-improvement the job is never done, so your coach ideally will also have a coach of their own. I’ve noticed that coaches will only be able to help your development as far as they’ve developed themselves, so try and find out where they’re at.
What I charge
Again this varies so I’ll give you a breakdown of what I offer. I mainly work as an Executive & Leadership Coach focusing on supporting female leaders and teams to step into their next level of leadership.
With my signature 12 month 1:1 coaching programme "Next Level Leadership Transfomation"
I draw on all my experience to help you identify what you want to achieve and build your confidence to get there. The programme employs a variety of tools, strategies and methods to support you and the average cost of the programme is £700 per month.
You can also book a full or half-day "Next Level Leadership Strategy Day" where you can take a comprehensive look at your career and leadership quickly and come up with an immediate action plan. [Shorter 2.5 hour sessions are also available - prices start from £500 per session]
For corporate and NHS teams who are looking to build a culture of collaborative working that supports and enhances their team building endeavours, I provide a NHS Next Level Leadership Transformation Programme. This programme includes both 1:1 coaching and mentoring support and training days to develop, nurture and grow the leadership protential in your organisation. Again the average cost of the programme per person is £700 per month and a half-day training session starts at £1,500.
If you require more help relating to specific aspects of your leadership journey, then get in touch to ask me about my "Are You Interview Ready?" and "Redundancy Recovery" Programmes.
Have a look through my 1:1 coaching programmes for yourself or contact me directly if you have any questions.
Next steps
Deciding to have a coach is a big step and one that shouldn’t be rushed. One of the main factors to consider (besides the cost) is the chemistry you have with a coach. If you don’t get on with them, chances are you won’t progress as much, or as well as you would with someone you feel a connection with.
Remember, some coaches can be excellent marketers so trust your instinct with this.
Make sure you talk to a few, look at their website, their testimonials and keep asking questions until you feel you’ve found the right one.
I hope this has helped but if you aren't sure then book a FREE Career-Next-Step Clarity Call with me.
BW Jackie
P.S. Looking at what an Executive & Leadership Coach actually does, then check out my blog and find out more.
