The average salary of an executive coach varies widely. You could make anywhere from $27 000 to $210,000 per year, depending on your skills, experience, marketing efforts, and success history. As a result, you may be confused about how to price your services, especially when you are just getting started.
When starting a business, many people experience imposter syndrome. Feelings of inadequacy and self-doubt are indicative of imposter syndrome, despite apparent success. Let us get rid of any doubt. The work you do is outstanding, and you deserve adequate compensation. So, you’re wondering what you should charge for executive coaching.
What Do Top Executive Coaches Charge?
Executive Coaching is often billed on an hourly basis. A new coach usually charges between $60 and $75 per hour. More experienced coaches may charge between $120 and $200 per session. Additionally, some bundles could cost $1200-$2400.
Many people debate whether or not it is better to charge by the amount of value you offer clients, or by the number of hours you bill them. Inexperienced and new coaches may benefit from charging by the hour. As you gain experience, you may want to start charging for the value you provide.
A good approach is to charge your clients based on their results, the difficulty of the topic you are coaching them on, and the level of expertise you provide. This pricing method focuses on the results you get for your clients instead of the hourly rate.
You should re-evaluate your pricing as you gain experience in the industry, such as after five or ten years. As your training increases, you may be able to increase your pricing.
Bundles and packages should be priced according to how much money you expect to make each year. Decide how many hours, days, and weeks you will work throughout the year.
To answer the question ‘How much should I charge for coaching?’, know your worth and price your coaching services accordingly. You may feel a little uncomfortable with the price you set or with the way your pricing changes, but it is normal. Many individuals tend to underprice themselves. When you are paid enough for what you offer, you will be willing to put in the effort to help every client in the best way possible.
If you are interested in learning how to become an outstanding executive coach who transforms people and builds a successful coaching business, contact Integrative Coaching today.