One of the Greatest Benefits of Being a Life Coach Is That You Can Set Your Own Prices… But Just How Much Income Can You Earn, and How Quickly Can You Get There?
Over the past 45+ years, I’ve had the privilege of coaching and mentoring thousands of people — from CEOs, to heads of state, to single moms — to create lives they truly love living.
And often, people who are interested in becoming heart-centered life coaches will ask me:
Is it possible to earn a generous income as a life coach? What kind of life coach salary can I expect?
As a coach who’s built multiple seven-figure businesses by helping people design lives they love, my answer is an unequivocal,
In fact, there has never been a better time to be a life coach.
Forbes Magazine called life coaching one of the fastest growing industries capable of producing six-figures in the world.
With that said, exactly how much you can earn as a life coach is very much governed by the answer, “It depends.”
If you’re trained in the economic engine of a highly successful coaching business, what it takes to build a coaching business, and how to be a great coach, you can earn as much as you choose!
You can also work from any place in the world you want. You have tremendous freedom, but even more than that, you’re able to help people tremendously in their lives – and that’s priceless.
If you’re thinking about becoming a coach, and you want to learn more about what that would be like, then take a few minutes to read through this page so you can see if the salary, benefits, training and growth potential associated with life coaching are right for you.
Life Coaching Salary: How much can life coaches earn?
The U.S. Bureau of Labor Statistics (BLS) does not collect data specifically on life coaches, however, it does cite a study conducted in 2016 by the International Coach Federation, which states that a certified life coach salary range is between $27,019 – $210,933. The average salary of a life coach in North America as of 2016 is $61,900 and the average global life coach salary is $51,000.
These figures varied from one geographical area to another, and they also went up or down depending on the coach’s level of experience and the topic on which they focused.
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 necessarily the best or only way to do things.
Serving large groups of people simultaneously enables you to help more people, make more money and allow your clients to enjoy the powerful benefits of networking with and learning alongside a group of like-minded people. This way, your clients get better and faster results, and you can earn and accomplish more without burning out.
As with all self-employed lines of work, how much money you actually make as a life coach and how many hours you work 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.
However, 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.
How life coaches make money
There are several methodologies you can choose from in order to powerfully serve your clients. In fact, being a coach is one of the most flexible careers out there, because you can adapt your business to what works for YOU.
Here are 5 different ways to make money as a life coach:
1) 1-on-1 Coaching
In this method, you have a 60-90-minute session with your client, either in person or via phone or the internet, once a week.
In these sessions, you discuss the action steps your client has been taking, the results they’ve gotten and the results that they want to get next. You teach them the success principles they require in order to progress from where they are, and you help them form a concrete, actionable plan to keep moving forward.
This method is useful for diving deep into your client’s life and mindset, but it should NOT be your primary form of coaching. If it is, you will become trapped in a cycle of trading hours for dollars, and your income and impact will always be limited by the number of hours in a day.
You can set aside some time to work 1-on-1 with your highest-paying clients, but don’t make your business model dependent on this style of coaching.
2) Group Coaching
This is similar to 1-on-1 coaching, but it allows you to serve more people in the same amount of time.
With group coaching, you create a conference call with several of your clients at once, spend some time teaching them about the principles of success, and then answer their questions and give them personalized advice for taking the next step in their lives.
This method is a bit less in-depth than 1-on-1 coaching, but it allows your clients to learn from each others’ questions and experiences, and to network with each other. It also increases the energy that everyone receives through the calls, because they’re gathering in a community of passionate, like-minded people.
And, of course, it allows you to serve more people in less time, so you can make more income and have a bigger impact than you could through 1-on-1 coaching alone.
3) Live Events
If you like working with your clients in person, you enjoy speaking in front of crowds, and you want to help a lot of people to get a fast start and to learn a great deal in a short amount of time, a live on-stage event can be an incredible way to do that.
For 2-3 days, you teach a room full of clients, giving them detailed guidance on how to create the lives of their dreams, as well as homework, action steps and group exercises as needed so that they are able to learn your material as quickly as possible in the time you have together.
These events don’t provide the ongoing support that weekly coaching does, but they can often be used to up-sell your clients into long-term coaching programs, because they help build the ‘know, like and trust’ that you need to make them feel good about investing in you.
4) Pre-recorded Curricula
Another way to help a lot of clients without burning out is to use a pre-recorded curriculum to deliver the bulk of your teaching. This allows you to serve more people, at a lower price per person, in the same amount of time, and it can let your clients consume your material at their own pace.
Because this method lacks a system for ongoing support, pairing it with group coaching calls will ensure that your clients are never left wondering how to use your teaching or what to do next.
5) Combinations of the Above
Many coaches combine two or more of the above methods in order to give their clients the best possible results. For example, you could host a live event that gives your clients an inspiring, powerful start, and then offer a package that combines pre-recorded lessons with group or 1-on-1 coaching calls, so your clients can put the recorded curriculum to its most effective use.
Regardless of which system you use, it should include all four of these elements:
- Reveal the universal, infallible principles of success to your clients. Without this, your clients won’t be able to create the big, lasting changes they’re looking for, so you MUST be able to give them the training they require in this area.
- Help them to get really clear on what they truly desire, on their purpose in life and who they really are at their core.
- Help them create a practical, actionable, step-by-step plan to reach their goals, and to repeat that process every time they have a new goal to fulfill.
- Give them ongoing support, so they never have to handle the changes they’re creating or the obstacles they encounter alone.
As a heart-centered coach with a passion for what you do, you’re going to make an impact on many, many lives regardless of whether you offer one-on-one or group coaching, or a mixture of both. The most important thing to remember is that you can structure your coaching business to serve the type of client and support the kind of lifestyle you desire.
If you prefer to sit down one-on-one with clients, you can do that! If you’d like to build your business around a group coaching model, you can do that too! Or you can coach clients individually AND in group settings.
Again, how you choose to structure your life coaching business is completely up to you. This is one of the benefits of being an entrepreneur! So structure your life coaching business as you’d most love for it to be. You can’t help others create lives they truly love living if you don’t truly love your own!
Heart-Centered Enrollment: The Key to Abundant Income as a Life Coach
Often, after people come through the heart-centered life coach certification program at Life Mastery Institute, they say,
“Now that I know how to coach clients, how do I find clients?”
The truth is, whether they’re aware of it or not, every single person wants more in life. They may not believe they can have it, or know how to achieve it, but deep down, people everywhere long for a greater, freer, fuller life…
And when you learn how to speak to the part of someone that wants to grow, you ignite a conversation that can inspire them to sign up for a program with you.
At Life Mastery Institute, we provide life coach training that teaches you how to ignite these kinds of heart-based conversations.
Here’s how two life coaches enrolled clients during casual conversations…
At the end of one of our life coach certification trainings at Life Mastery Institute, one of the women who attended was at the airport getting ready to fly home, but her plane didn’t leave when expected.
The airline decided to take a couple of people to another airport by taxi, so they could catch a different plane to their destination.
This newly certified coach got into a taxi cab with another woman, a stranger, and they began a casual conversation.
The other woman was an attorney, and when the new coach explained what she’d just been certified to do, the attorney exclaimed:
“What?! I told my sister last week that I was just really unhappy with the way I was doing my business, and I just needed to make a change, and I didn’t know how to do that, and maybe I should get a therapist. And my sister said to me, ‘You don’t need a therapist. You need a life coach.’
“I said, ‘Well, where am I going to find a life coach?’ And now you’re sitting right next to me in a cab!”
Before the ride was complete, the coach had enrolled her first new client.
And at Life Mastery Institute, we have many, many stories like this!
Once you come to know that every person wants more in life, and you know how to have a conversation with them that ignites their hopes and desires… whether they become a client or not, you end up having more of these heart-based conversations.
Some of these conversations catch fire, and the people with whom you’re talking become your clients.
Another one of our coaches, who had built her business in South Africa, was flying across the globe to come to the training.
She got into a conversation with the man who was sitting next to her on the plane, and he started sharing stories about his business, while she asked the questions (we call them “evocative coaching questions“) she’d been trained to ask, to help him ignite the idea of a life he would love to live.
The conversation evolved, and finally he looked at her and asked, “So what do you do? Are you a therapist?”
She replied, “No, I’m a life coach.”
And by the time the plane landed, she had enrolled her next client.
Not every conversation ends in an enrollment, but every conversation can build your success
Even if you don’t enroll the person in a program with you, every conversation helps you connect with people and improve your skills. You become better at having enrollment conversations, and you begin drawing an increasing flow of clients to your business.
Right now, people are actively searching for someone to help them create a life that they love living. There’s an extraordinary demand for heart-centered life coaches today!
If you genuinely care about people, and you have access to a proven system, curriculum of transformation and ongoing support, you can do very well in this profession.
Many of our certified life coaches at Life Mastery Institute earn six and multiple six-figure incomes helping clients create lives they truly love living.
Life Coaching Salary Success Stories
One of the greatest benefits of being a heart-centered, transformational life coach is that you can earn income doing work that is truly meaningful to you and the world.
But just how much income can you earn per month, and how quickly can you get there?
Again, the right answer to that question is, “It depends!”
The amount of money you can earn as a life coach depends on the system you’re trained in, how willing you are to engage in the training and how you apply the training when it comes to enrolling clients.
When you think of life coaching as a career, it’s common to imagine yourself sitting next to or across from someone, and having really powerful moments as you coach that person. These are the moments that tend to draw most people to a career in life coaching!
But here’s something else that comes as part of running your own life coaching business – having conversations with people who aren’t yet clients! People who are interested in working with you, including what your coaching packages entail and what the investment is going to be.
As part of the training at Life Mastery Institute, we help people understand what we call the “economic engine of a highly successful coaching business.”
As with any business, part of running your own successful life coaching business is knowing how to attract and enroll potential clients.
Once you have been trained in how to do both of these things in a meaningful and authentic way, there’s truly no cap on the number of lives you can touch, and how much income you can make, as a life coach!
Here are some examples of how much income you can earn as a life coach
A woman in her mid 20s named Amanda Loveland became certified as a life coach through Life Mastery Institute.
After you receive your certification, one of the next steps to building your coaching business involves making a list of 50 people you know who might be interested in having a conversation about how to take their lives to the next level.
Over the next 30 days, you’re then encouraged to call every person on your list to find out how they’re doing, tell them that you were just recently certified as a life coach, and see if they’re interested in life coaching and what it could mean for them.
You’re trained to understand that some people will say yes and some people will say no, but your job isn’t to get everybody to say yes! Your job is to make sure people know they have an opportunity to work with you, if this is something that resonates with them.
So, Amanda made her list of 50 people, and she began to make phone calls. And guess what? Amanda earned $18,000 in her first 30 days as a life coach!
How did she do it? She was trained in how to overcome her fear over having conversations with people about working with her, replacing it with faith that these were people she could actually serve.
Amanda was brave enough to put an opportunity in front of people she knew and brave enough to ask them to take advantage of that opportunity. Sure, we trained her in how to have those kinds of conversations and which words to use… but Amanda was the one who enrolled those clients!
Fast forward a few years, and Amanda’s coaching career has grown because of her willingness to seek out opportunities in which she can talk to people about what it takes to create a life they love living.
As a life coach, you must know how to have a “dream-building conversations”
Part of the life coach certification training also involves having conversations with strangers to let them know what you do and find out what they would love to have happen in their life. These are what I call “dream-building conversations!”
Whether the person wants to move forward with coaching or not, by the end of these conversations, these strangers are usually much clearer about the kind of life they’d love living.
As another example, a woman named Cynthia had just finished her DreamBuilder Coach training, and with her new coaching certification in hand for merely hours, she boarded the plane home.
Well, on that plane she sat next to two individuals who showed interest in why she seemed so happy. Cynthia shared that she was a certified DreamBuilder coach. She then used the techniques from the training to explain the dream building process to these folks.
And in just that one-hour flight between Los Angeles and Oakland, she had two paying clients before she landed!
And it gets even better. When Cynthia got home, she set up her first workshop – AND after the workshop, she had 40 people enroll in her coaching program at $1,000 a piece!
Within the first four months of receiving her DreamBuilder certification, she earned over $64,000!
Of course, Cynthia’s results aren’t typical. Her success reflected the action she took and how she used the Life Mastery Institute training.
However, like Cynthia and many of our DreamBuilder coaches, you could also be enjoying a thriving coaching business. Because our training gives you the proven scripts for how to enroll clients, as well as the proven business model to keep them enrolled in your coaching programs.
So how much can a life coach earn? It depends.
The question about how much you can earn as a life coach is very much governed by the answer, “It depends.”
If you’re trained in the economic engine of a highly successful coaching business, what it takes to build a coaching business and how to be a great coach, you can earn as much as you choose.
You can also work from any place in the world you want. You have tremendous freedom, but even more than that, you’re able to help people tremendously in their lives and that’s priceless.
Amanda and Cynthia are just two examples!
Earning a great income as a life coach can be simple, and you can have a life you love living, a career that has meaning and purpose, and you can help lots and lots of people.
So if you’re considering becoming a life coach, and you want to know how much money you can earn in this profession, know this: It’s unlimited!
Would you love to build a 6- to 7-figure coaching business?
Curious about how you can become a successful life coach? If you dream of helping others take the journey to manifest their greatest dreams, I’d love to give you a free copy of my eBook, “How to Get 10 New Clients in Less Than 90 Days.”
In this free eBook, you’ll discover how to network and promote your coaching business like a pro, and launch your business into one that makes a profound and lasting difference in the lives of others – all while allowing you to earn an abundant income and work from anywhere you choose!
Whether you’re already a life coach or you want to be, this eBook was created to support you on your journey.
Download your free copy here.