In the past few years, the life coaching profession has experienced tremendous growth. Life coaches can help people live their lives to the fullest. Once people consider the cost of becoming a life coach—including if a life coach needs a license and the price of ICF life coach certification online—people want to explore how much a life coach can make.
Of course, there isn’t one-size-fits-all when it comes to the salary of a life coach. On average, a life coach makes about $62 per hour, but many factors can affect that number.
If your life coach practice is in an affluent area, you can likely charge more. Other geographical factors, including state taxes and licenses, can eat into your earnings.
Type of Employment
If you’re self-employed, you get to set how much you charge hourly, which may not be the case if you work in an office or have a manager. Additionally, you can make more if you work full time rather than part time.
Veterans in the life coach industry tend to be more sought after than professionals who are just starting their careers, so they’re able to charge more.
Level of Education
The more educated you are in the field, the higher your salary is likely to be—this includes both formal education and certifications.
What’s the Outlook for the Life Coaching Profession?
It’s safe to say that the future is bright for those who are considering a career as a life coach. The industry has been growing steadily year over year, which is in sharp contrast to other industries. This steady growth can be attributed to the fact that both organizations and individuals have understood the value of intentional improvement. In the coming years, the life coaching industry is likely to favor professions that focus on:
- Weight management
- Life transitioning
Is There Stiff Competition?
Definitely–you should expect competition from like-minded individuals and companies because the profession is highly lucrative. As such, it’s imperative to have a strong foundation by attaining the required formal education and being mentored by veterans in the field.
It may be a great option to start off working for a life coaching company in order to learn from the best before branching out on your own. It can also help to obtain proper certification to help you stand out from life coaches who are just starting.
Where Does a Life Coach Work?
Thanks to advancements in technology, the world has become a global village. Nowadays, you can work as a life coach from the comfort of your home as long as you have a computer and a stable internet connection, but many coaches opt to work in-person with their clients from an office space.
A life coach profession can be highly lucrative, depending on several factors. That being said, your earning potential is only limited to how hard you work. If you want to earn a stable income, you need a strong foundation, including a formal education and practical experience.