Helping other people to create the life of their dreams is an amazing experience. If money was no object, I’m sure that many people would become Life Coaches purely for the thrill of changing the world, one client or group at a time.
And the last thing anyone wants to do is to invest all the time and effort it takes to learn how to coach people, only to have to give it up and feel like a failure.
So how much money can you expect to make as a Life Coach?
As with all self-employed lines of work, it depends on how you go about building and promoting your coaching practice. The amount and style of marketing you do, your dedication to learning how to thrive in the industry, and the effectiveness of your coaching are all factors, but here are some general guidelines for what you can expect:
According to www.universalcoachinstitute.com, as of 2013 the average worldwide salary of a Life Coach was $47,900. This figure varied from one geographical area to another, and it also went up or down depending on the coach’s level of experience and the topic on which they focused. But, overall, Life Coaches were making between $26,000 and $274,000 last year, which comes to $2,166.67 to $22,833.33 a month!
Of the coaches who were surveyed, the hourly rate they were charging ranged from $128 per hour to $321, with an average of $229. On average, these coaches were working 13 hours per week – meaning that even on the lower end of the pay scale, they were making $1,664 a week, with a relatively light work schedule!
These averages aren’t limits.
It’s true that, if you’re coaching people one-on-one, there are limits to the number of people you can help and the amount of money you can make. But that isn’t the best or only way to do things.
At Life Mastery Institute, I teach coaches how to serve large groups of people simultaneously, so our Certified Coaches can help more people, make more money, and allow their clients to enjoy the powerful benefits of networking with and learning alongside a group of like-minded people. This way, the clients get better and faster results, and coaches can earn and accomplish more without burning out.
The money isn’t all you get.
As I noted at the beginning of this post, the emotional and spiritual payoff from becoming a Life Coach is amazing. You can help people go from being broken, exhausted and frustrated with life, to being happy, healthy, and full of hope and joy as they leave their painful limitations behind and create the lives they’ve always longed for.
You also get to create the life and lifestyle you desire for yourself, with the satisfaction of knowing that you’re helping other people in the process.
What could possibly be better?
It’s up to you, but you don’t have to do it alone.
How much money you actually make as a Life Coach, and how many hours you work, will largely depend on you. The amount of effort you put in, how much help you get, and the methods you use to grow your practice will ultimately determine your level of success as a coach.
But while your results are up to you, you don’t have to create them alone.
I’ve turned my coaching into a seven-figure business, and I’ve helped hundreds of people go from having no idea how to build a coaching practice, to serving hundreds or even thousands of clients and enjoying all the income they desire and deserve.
If this is something you want for yourself, I invite you to fill out the form on the right. My team will get in touch with you, and together, you’ll determine whether becoming a Life Coach is the right next step for you.
Here’s to your Success,