In last week’s Coaching 101 class, a student asked how much do coaches earn? In this video Nick Bosk looks at average coach salaries vs the over-hyped “earn your certificate and make six-figures in your first year” salaries.
(0:00) How Much Do Coaches Earn?
(0:12) Coaching As A Career
(0:22) Coaching Is A Business
(0:39) Average 1st Year Earnings
(0:37) Average Earnings After 5 Years
(1:03) Specialties: Business & Executive Coaching
(1:12) Specialties: Life & Spiritual Coaching
(1:28) Self Employed vs Internal Coaching
(1:48) What To Learn More? Free Classes
So, how much do coaches earn? For many students who take part in coach training, they are looking at making coaching their career. So it’s really smart to look at the earning potential for someone as they progress along in their coaching career. Now, as a side note I do want to caution that coaching is a business and is not a get-rich overnight sort of venture; so be very leery when you are looking at different programs that promise you to earn your certificate and make six-figures in your first year. That is not impossible but that is not the average.
Typically when coaches are starting off, their first year to two years, they make anywhere from 25 to 35,000 USD. After being in business for say, five years or so, on average, coaches makes anywhere from $35,000 to $75,000 depending on if you are full time or part time and also looking at different specialties. If you are in the area of business, or executive or corporate coaching, typically you make a little bit more – that’s because you are being paid by the company’s budget rather than say a life coach or a wellness coach, who is more likely paid by the client’s pocket book or their credit card.
Of course this is just a generalization, I know many spiritual coaches who make as much as executive coaches make but in a general sense executive career in business coaches make a little bit more. Now about 70% of coaches are self-employed and own their coaching practice and the other 30% are those that are working internally for companies and corporations. Keep in mind when looking at these averages, it is a global average so it’ll be different for your area or for your niche or specialty of interest but typically these are the trends that we have seen in the coaching industry.
Come along to an upcoming Coaching 101 teleclass and learn more about coaching, questions such as, building your business, earning potential as well as learning skills that will help you on your road towards earning your certification in coaching.