Life Coach Salary (How Much Can You Make?)
The national average life coach salary is around $67,800 per year. But it can range anywhere between $27, 000 – $128, 500.
In this comprehensive guide, I will cover:
So if you’re looking to switch careers and become a life coach, or want to supplement your current salary, this guide will give you a complete understanding of what to expect.
Let’s jump right in!
How Much Do Life Coaches Make?
The average life coach makes around $98 per hour, $1,412 a week, $5,560 a month, and about $67,800 a year in the US.
I calculated this number given the coach works 14 hours a week.
This figure is based on employed coaches, and it does not include self-employed ones.
Many life coaches are self-employed, which means their income depends on their ability to attract clients and set their rates.
Self-employed coaches have the potential to earn A LOT more than the national average! With your own coaching business, you have the potential to make a 6-figure income annually.
Average Life Coach Salary Based On Region
The 2023 ICF Global Coaching Study conducted a survey of over 14,951 coaches in 157 countries and territories. Here are the results they found:
Region | Yearly Average |
---|---|
Asia | $33,900 |
Eastern Europe | $18,700 |
Latin America And The Caribbean | $22,900 |
Middle East And Africa | $29,600 |
North America | $67,800 |
Oceania | $58,800 |
Western Europe | $52,400 |
Global | $52,800 |
It’s pretty apparent that life coaching is thriving in all parts of the world now.
The average global income for coaches rose from $47,100 in 2019 to $52,800 in 2023, an increase of 12%.
Average Life Coach Salary Based On Niche
The life coaching niche that you choose will determine your life coaching salary to a large extent.
Let us go through some of these niches and what their respective salaries are:
Niche | Hourly Rate |
---|---|
Career Coaching | $16.06 |
Executive Business Coaching | $21.19 |
Health and Wellbeing Coaching | $15.36 |
Personal Development Coaching | $14.36 |
Relationship Coaching | $35.29 |
Factors That Determine The Salary Of A Life Coach
There are a range of factors that influence the ultimate salary of a life coach.
I have touched upon many of them before, but these are the building blocks of your career as a life coach and need to be considered carefully to estimate your income potential.
Here are the factors that determine the salary of a life coach:
#1 Niche & Target Market
The target niche is one of the primary factors that determines your life coach salary.
If a life coach specializes in a popular area like coaching for business leaders, they can typically make more money than coaches who offer general life coaching services.
Also, if their clients are wealthy individuals or big companies, they can charge higher fees.
Trust me, always niche down.
#2 Structure
How a life coach structures their business also affects how much they earn.
Coaches who offer one-on-one sessions usually make more than those who do group coaching or online courses.
Coaches who offer packages or subscription services tend to make higher and more steady income compared to those who charge by the hour.
#3 Experience & Expertise
The level of expertise and years of experience directly affect your annual revenue.
A coach with less than a year’s worth of experience cannot charge the same fees as, say, what a seasoned coach of over ten years can charge.
Here are the findings from the 2023 ICF study, regarding experience vis-à-vis rates charged:
#4 Education & Certifications
One of the major upsides of life coaching is that you don’t need to have specific qualifications.
But getting some qualifications can help a life coach’s credibility and allow them to earn more.
Coaches with degrees or certifications in fields like psychology, counseling, or coaching can often charge more than those without such credentials.
So, if you’re serious about pursuing the career, specific training by accredited coaching associations like ICF, IAC or EMCC definitely adds value.
#5 Clientele
The types of clients a life coach works with also impact their earnings.
Coaches who work with famous people, celebrities, or executives from big companies can typically charge higher rates than those working with general consumers or small businesses.
Coaches serving clients with specific needs or challenges, like major life changes or big personal/professional issues, may also be able to charge more.
Of course — your clientele depends on your experience, as well as two sets of skills I’m going to be getting into next: marketing and sales skills.
#6 Marketing & Sales Skills
How effectively you market yourself and how well you can close sales will have a big impact on how much you can earn, both as an independent coach and in terms of the salary you can command.
The life coaches who last are the ones who treat it like a business. You must think like an entrepreneur and a business owner.
Marketing and sales are essential skills you need to develop as a coach. Some life coaching programs do help with this but most times it is up to you to hone them.
#7 Location
The location also matters.
For example, the average annual salary for a life coach in New York is $59,488, whereas in Delaware, it is $53,543, and in Utah, it is $58,535.
In Illinois, the average annual life coach salary is $49,735.
#8 Testimonials
Client testimonials speak to your proven track record, and are a great way to showcase the benefits of your coaching programs.
Research has found that adding customer testimonials generates approximately 62% more revenue.
When a prospective client sees that a life coach has added value to previous clients, it naturally builds trust and confidence.
So if you have some great testimonials of past clients, make sure you have them on your coaching website!
#9 Delivering Outcomes
Delivering outcomes is an important factor too.
Can you help guide your clients to achieving their goals?
Do they notice a drastic difference in the aspect of their life you are coaching them in?
Some life coaches have a natural knack for it, while, for others, it comes with life and coaching experience.
Answers to these questions will ultimately determine what coaching is worth to your clients and if you don’t want to limit yourself to being employed coaches and want to make your way to your own 6-figure coaching business, we can help you with that.
Bottom Line
There you have it – the salary of an average life coach and the varying factors it depends on, from location and niche to market demands and personal business models.
Whether you’re just starting out or looking to expand your coaching business, understanding them will significantly impact your success.
We’d love to hear your thoughts on this.
Did we cover everything? Is there any tip or experience you’d like to share for coaching salaries?
Let us know in the comments below!
Frequently Asked Questions (FAQs)
Is There A Demand For Life Coaches?
Yes, there is a growing demand for life coaches. The life coaching industry is a multi-billion dollar market and shows signs of continued growth.
Life Coach Average Salary UK
The average life coach salary in the UK falls around £24,909 per year (£12.77/hour). But it can range anywhere between £15,000 and £153,000.
Great article!
I have just started my life coaching business and as excited as I am to help others create massive change in their lives, I have to agree that it has to be treated as a business, and charging by the hour would drastically limit the amount of income you can make.
I took really good notes from your very informative read, thank you for sharing!
Thank you so much for sharing all this wonderful info with how-to’s !!! It is so appreciated 🙂
Hi Sai, what a fantastic post!
I have read a number of articles on life coaches’ salary, but they have failed to explain the topic the way you did it. Your article is deep and resourceful, can’t wait to see more from you.
Good luck.
This blog is an answer to one of the toughest questions faced by coaches . You really pointed out wonderfully how a coach can identify their niche markets and hence determine their worth. Pricing is crucial and you make it seem effortless and simple! Thanks for the insights.
Thank you Sai. It’s a very insightful article that is going to help every new coach to pursue their coaching career. Very detailed and well explained.
A must-read article for someone who wants to start, as it beautifully gives a detailed explanation on how-to.
I wish I had come across this guide early on. When I started my practice I thought of covering all kinds of coaching but I was unable to retain clients. I am doing good now because I have specified my area.
Hey, Thank you for sharing the updated info. A worth-reading guide! Please share your valuable insights about the life coaching practices in the new normal.
I have been serving as a productivity and performance coach since mid-2016. And I agree 100% with the insights shared here. It’s really a rewarding profession when you successfully help your clients achieve what they want to achieve.
Thank you. I am a beginner so it would be helpful if you please mention what are the organizations other than International Coach Federation which govern the domain of life coaching?
This is an amazing guide about compensation trends for life coaches. If you have any guide for life coaching types or niches as well, then please do share
Your guide has been so helpful to me. I am an employee in a nutraceutical unit working 9 to 6. And after reading this article, I am planning to switch to Life coaching as I can see it is a very rewarding profession.
I like your well-described coaching models. I think Hybrid Model is the best. (online coaching and courses). It is gonna work best in 2021. What do you say Sai?
I came across this article by chance. And I am glad I got to read this article. You have presented this critical issue of adequately pricing the coaching services in an amazing way. Thanks, Sai.
Thanks Subarna! Glad that you found this article valuable 🙂
For all potential coaches out there, a very informative read I must say. Thank you, Sai. Your knowledgeable approach is exceptional!
Very well-written. To be honest I also used to think, whether life coaching really pays. You have amazingly answered all the questions that I had in my mind. Thanks a lot.
This article is amazing, I have been thinking about coaching the wrong way. It was informative to understand the income one can get from being a coach along with all the benefits. Thank you very much Sai!