How Much do Life Coaches Earn?
Here's the real numbers of what life coaches make, how they make the money and what is needed to succeed as a life coach.
With a career in life coaching, you get a rich world: flexibility, the power to set your own goals and outcomes, and the ability to serve others while building up all the skills you need to live your own best life.
But will it make you financially rich? Depends.
If you’re a student of The Coaching Institute certified by the International Coach Guild you will have earning capacity greater than the average coach because of the global recognition it carries. If you also have the chops to build a reputation based business, you can make great money anywhere in the world.
Life coaching is an unregulated industry so a life coach can set their own fees for clients. Here's a quick breakdown of how much you can earn as a coach, according to salary comparison site PayScale.
—The average life coach hourly pay in Australia is $80.90 with a salary range starting at $53,783 to as much as $314,093
—The monthly retainer rate ranges from $200 per month to $10,000 plus per month, depending on the services provided
—Life coaches command speaking fees of between zero and $15,000.
Of course, all these fees are dependent on your ability, expertise, skill, experience and demand. They don't simply happen because you have done a program with a coaching school. You must have talent, ability, marketing skills, and a willingness to put yourself out there.
Here's the thing. Some coaches make no money as a coach, even though they originally did set a monetary goal. These coaches receive the same training, the same materials and the same access to mentors and experts.
Yet they complain they have no paying clients. What gives?!
The question about how much do life coaches earn is irrelevant if you don't take the right action. As with any business, inevitably all results come down to how much effort you put in, how willing you are to learn and apply what you learn, and how well can you persist.
The good news is all of this is 'learned behaviour'. In other words, you can always seek help, surround yourself with positive, passionate people and follow the right models to make it work.
Some people who train with The Coaching Institute don’t want to turn their skills into an income, many do. The question of how much do life coaches earn is important to them.
We have a very thorough step-by-step system in place to help our coaches achieve this. Coaches can earn their income through many different channels:
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