Life Coach Salary – What Is The Range These Days?
If you’re considering Life Coach Training you may be wondering what a life coach salary would be. And because most people have a background of working for someone else they automatically think salary instead of income.
And when people ask us “What is a life coach salary these days” I must admit it does give us a chuckle. In reality, there is no salary but the sky’s the limit for income if you get the right training, pick the right niche, and you really care about helping others.
Life Coach Salary
Salary is, “a fixed regular payment, typically paid on a monthly or biweekly basis but often expressed as an annual sum, made by an employer to an employee”.
When you’re a Life Coach you’re the boss and you set your own rates, so there is no life coach salary. therefore it’s very important to make sure you get the best coach training for your needs and know the key points to running a successful coaching business.
Coaches can charge too much for their specialty area and they can also charge too little. Either way, you can find yourself going out of business and end up back in the rat race working for someone else again.
Your Niche Can Determine The Price
What determines how much you charge varies from person to person. And it’s not what you’re worth that determines your “life coach salary” per se. It’s what someone is willing to pay for your coaching if you can deliver on your promise to help them.
Let me give you an example:
Let’s say your niche was helping people to stop smoking, not one I’d recommend by the way but I’ll use it as an example. Because most smokers have already tried a variety of devices and gimmicks at very low prices they are not eager to pay you the coach a decent fee.
Even though most of the rational thinking world knows stopping smoking could save their life, the smoker doesn’t really buy into that thought.
They are more likely to spend $69 on the promise of a hypnosis miracle seminar, get the “patch” or try the new e-cigarettes than take a chance on you the coach.
What’s Coaching Worth To Them?
So let’s use another example.
What if you were a life coach looking to increase your income? You wanted to make more money in your business and you knew there was an expert coach out there that could help you. How much would you be willing to pay the right coach?
If your business income would increase by $25,000 next year, would you be willing to spend $2,000 or $5,000. perhaps even $10,000? But what if you thought you could increase your business income by $100,000 or more? Would you be willing to pay four times more? You’d be crazy if you didn’t.
The total cost for my first coach was a bit over $1,800. and I only got 5 hours of coaching. But it changed my life so much I would be willing to spend that every month without hesitation – for the right coach.
So as you can see the coaches income is not based on the value of the coach as in the coach themselves, but rather in the value they can deliver to the right client. If you’re going into the life coaching field you should think long and hard on what niche you will be working in because your “Life Coach Salary” will depend on it.