What’s a Good Salary for a Life Coach?

If you are thinking about becoming a life coach, having an indication of a life coach salary it important. Do you know what you need to earn to survive?

life coach Salary

When you’re a life coach, you can go home after a days work knowing you’ve helped someone improve their life. This can be incredibly rewarding.

Life coaching is also very lucrative. According to Harvard Business Review, the life coaching industry is worth a whopping $1 billion per year!

So, let’s dive into the nitty-gritty of a life coach salary.

What’s the Average Life Coach Salary?

It’s not uncommon for life coaches to make over six figures a year. So, there’s no reason why you can’t earn this kind of life coach salary too.

However – never pursue this job if you’re just chasing the money.

Like any business, you have to operate from a place of service. You must have a desire to help your clients. This should be the driving force behind your career choice.

If you lead from a place of value, you’ll get results for your clients. This will set you on the right track to earning decent money. Make sense?

What Should I Base My Salary on?

Your life coach salary will depend on the following factors:

  • What business model you’re using
  • How many hours you dedicate to your business
  • The previous training you’ve received

If you’re aiming high, you should take note of the below example;

All life coaches need to be offering at least one upper ticket service.

For example, a one-to-one life coaching program. This could be worth $1,000.

Then, imagine selling this program to between eight and 10 clients a month. That means you’re looking at between $8,000-10,000 worth of monthly income!

It doesn’t take a genius to work out how quickly this could accumulate.

What If I Don’t Have My Own Program to Sell?

Many of you won’t have your own training programs yet, and that’s fine too. It doesn’t mean you can’t offer a high ticket service.

Instead, you need to become a certified life coach.

Once you’re certified, you’ll be able to teach a pre-formatted curriculum. This is usually a safe bet because you’ll have learned the ins and outs of the program during your training.

So, you can be confident you’re offering your clients a high-quality service.

What Should I Know about Selecting a Certification Program?

When sourcing a certification program, make sure the way they teach their content enables you to digest the information thoroughly.

You need to internalize the curriculum so you can efficiently coach your students. It can’t just be surface-level knowledge. Otherwise, you won’t get your clients results.

You should also make sure your program has a system for support. This could be a mentor or a fellow group of students.

This kind of support should make you accountable for progressing through the course. It should also push you to achieve your professional goals.

It’s essential that your certification program teaches you to handle the business side of your new endeavor.

You could be the best life coach in the world. However, if you have no business sense, you’ll set yourself up for failure.

By this, we mean that you need to learn effective marketing and time management. Educate yourself on bookkeeping, how to engineer your life coach salary, and outsourcing.

How Do I Price up My Products and Services?

You have to decide how much you’re going to charge your clients for your products and services. This will severely impact your life coach salary. So, no pressure.

This will probably be one of the hardest and most crucial decisions you’ll ever make for your business.

Naturally, you can gradually raise your prices as you become more experienced, etc.

However, it doesn’t look professional to have your prices jumping all over the place. So, you want to try and make the right choice to avoid shuffling your rates around too much.

Here’s how most life coaches price their services;

  • Per individual one-on-one session.
  • Monthly payments for a set amount of sessions.
  • Per package (this could be various services delivered over a set amount of time).

Out of these three options, the ‘per package’ approach appears to work best.

Why Should I Charge Per Package?

Firstly, you should charge per package because your income will become increasingly stable. This is great for forecasting your finances.

Plus, clients who spend money on a package that extends over a few months are what we call high-quality clientele.

These clients are far more likely to take your services seriously and therefore, get better results. These also tend to be repeat customers.

Common sense dictates that if you want a high life coach salary, you need to invest time into sourcing and retaining clients who’re interested in life coaching packages. It just makes financial sense.

How Do I Create a Coaching Package?

In light of the advice given above, here’s what we recommend for creating your own life coaching package:

Decide how many one-on-one sessions you’re willing to give your clients. Set a time frame for them to claim their meetings. Say four per month for six months.

When making your decision, consider what results your clients are hoping to achieve. You need to assess whether your package will really help your customer achieve their goals.

Always be honest with your client, so they have realistic expectations. This will not only boost their trust in you but also your credibility as a life coach.

Once you’ve sorted this, consider whether you’ll offer additional services as part of your package. You could provide check-in-calls, email access, or a diet and nutrition plan.

Now you need to price your package. When considering this, you should think about your niche and target audience. Consider your experience and skills too.

Remeber: you should always create a few packages that hit different price points.

How Do I Structure My Packages?

We advise offering your clients at least three packages. These should consist of at least one low, medium, and high-price point package.

That way you’ll be able to hit a wider audience.

You’ll often find that clients start with smaller priced packages then as they get to know, like, and trust you. They’ll be tempted to take on more expensive packages.

Please find below our suggestions for what to include in your different priced packages:

For your lower-priced package, you could offer group coaching.

This is ideal for those who want a taster of your life coaching style. Or, for clients looking for group accountability. Some really value this as part of their personal journey.

For your ‘middle priced’ package you could provide one on one coaching. You’ll probably find this is the most popular of your three packages.

Finally, for your higher priced offer, you could give your clients an all day coaching intensive. This should be structured so that clients can reach their desired goals quicker. You’ll find that your more serious clients will be willing to make this investment.

Once you have three packages working well, consider creating other packages.
As your business grows, you’ll understand the needs of your clients better. As a result, you’ll naturally begin to tailor packages that suit their specific goals.
Obviously, as you get better at this, your life coach salary will increase.
How Should I Price My Package?

The cost of life coaching varies dramatically.

If you’re looking for a rough guideline, consider charging anywhere between $250 and $1,000 for a month’s worth of coaching. These figures are based on life coaches working in the U.S.

Obviously, there’s quite a difference in life coaching salary there. So, when you’re deciding your prices consider the following;

  • What are your financial goals?
  • What do you feel right about charging?

If you’re a new coach, you may want to consider charging a lower fee. Then once you’ve coached a few clients and they’ve got results. You could review your prices.

Like any trade, practice makes perfect.

The longer you’re a life coach for and the more positive testimonials you collect, the closer you’ll get to earning your ideal life coach salary.

How Do I Find High-Quality Clients?

Two words – effective marketing.

Like any other business, you have to learn to market your business effectively.

As a life coach, it’s essential to reconsider how you perceive marketing.

When marketing yourself, you should view this as an expression of your self-confidence and your ability as a life coach.

You need to show to cold markets that you can be trusted to deliver the goods. So, think about creating a free give away to entice potential clients.

Perhaps an eBook full of actionable advice or a free 15 minute Skype consultation?

Would You like Some More Information?

If you would like more information on how much you could earn a life coach salary, contact us! Our team of professionals will be more than happy to assist you.

Also, browse our certifications page for further details.

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