The Salary of a Life Coach and How to Make Money as a Coach (2024)

Are you considering a career as a life coach and wondering about the earning potential in this rewarding field?

In this blog post, we delve into life coach salaries.

Whether you’re a budding coach looking to set realistic financial expectations or a curious individual interested in the income potential of life coaching, this post will shed light on how much life coaches typically make.

We will discuss the factors influencing earnings and strategies for maximizing income as a coach. Join us as we explore the world of life coach salaries and the possibilities it offers for financial success.

How much do life coaches make?

The average salary of a life coach is $52,800 globally.

In North America, the average salary is $67,800.

Let’s take a closer look at the average life coach salary.

Life Coach Salary Globally

The 2023 ICF Global Coaching Study surveyed over 14,591 coaches in 157 countries and territories throughout Africa, Asia, Australia, Europe, North America, and South America and received the following results:

Average Life Coach salary in:

• North America $67,800
• Latin America & the Caribbean $22,900
• Western Europe $52,400
• Eastern Europe $18,700
• Middle East & Africa $29,600
• Asia $33,900
• Oceania $58,800

It is estimated that between 2019 and 2022, the average annual revenue from coaching increased by 12% to $52,800 U.S. dollars.

Due to the diversity of coaches, annual revenue from coaching alone varies greatly. Globally, more than half of all coaches (53%) reported less than $30,000 in annual revenue.

Life Coaching Hourly Rates

In 2023, the average fee for a 1-hour coaching session is $244. That is a 9% increase from 2019.

However, fees quoted per one-hour session varied by coach experience:

• 10+ years $321 per hour
• 5- 10 years $256 per hour
• 3 – 4 years $194 per hour
• 1 – 2 years $152 per hour
• Less than 1 year $128 per hour

Average Number of Clients and Hours Worked

Coaches maintain an average of 12.2 clients per week.

They work an average of 11.9 hours per week.

73% of coaches surveyed expect an increase in their annual income with a 70% growth in the number of clients.

Life coaching hourly rates, number of clients, and hours worked per week.

Business Coach Salary and Hourly Rates

A business coach helps clients develop knowledge and skills and helps them start, run, and grow their business.

According to the Sherpa Executive Coaching Survey 2018 reports:

Business Coach Salary: $61,000, up 10% since 2014.

Business Coaches: $279 per hour, up from $235-$245 since 2014.

Executive Coach Salary and Hourly Rates

An Executive Coach works with companies and employees to enhance skills and business behavior.

According to the Sherpa Executive Coaching Survey, 2020 reports Executive Coaches with:

15+ years experience earn $160K and charge $450 per hour

10-15 years of experience earn $122K

Business and Executive coaches see different numbers of clients, which affects their annual earnings but not hourly earnings.

For example, new coaches in the 0-2 year range earn less overall; however, their hourly rates are high.

New Business and Executive Coach earnings increased from about $200 per hour five years ago to nearly $300 per hour the last two years.

Coaching rates for seasoned coaches are more leveled.

New coaches see two clients a week. Many of them are internal coaches, with other duties assigned.

What determines a coach’s salary?

A coach’s salary is based on various factors, including credentials, experience, knowledge, skills, abilities, the range and mix of services offered, and the client market they serve. However, years of experience are the most important factor in a coach’s salary.

According to ICF’s Global Study, 94% of coaches offer other services in addition to coaching.

• Consulting – 60%
• Training – 60%
• Facilitation services – 54%

However, the results of this survey are for coaching only.

Internal vs. External Coaches

Internal coaches work within organizations as an employee.

External coaches are self-employed and may contract with organizations.

According to Sherpa, 94% of coaches described themselves as external coaches.

According to ICF, one in five coaches works as both an internal and an external coach. On average, they devote much of their time to their internal work.

Who sees the most clients weekly: life coaches, business coaches, or executive coaches?

According to the Sherpa Executive Coaching Survey, most life coaches and business coaches have five clients or fewer. In comparison, executive coaches tend to have a higher number of clients.

• Two-thirds of life and business coaches see five clients or less.
• One-fifth (18%) of executive coaches report seeing 10 or more clients per week.
• A majority of executive coaches serve from 3 – 10 clients per week.

How to Make Money as a Coach?

As stated earlier, these studies are based on respondents who practice coaching alone. Coaching would be classified as 1-on-1 or group coaching collaborative sessions. However, Life and Business coaches make 6-7 figures by mixing coaching with other services.

Here are ways to make six figures as a Life or Business Coach:

• Coach 1-on-1 through VIP days
• Facilitate group coaching programs
• Host seminar and webinars
• Conduct online and offline workshops
• Host retreats
• Become a motivational speaker
• Write personal development and coaching books
• Create personal development and coaching audiobooks
• Create a course
• Develop a personal development or coaching app
• Sell self-paced coaching programs
• Contract with companies as a corporate trainer
• Combine business coaching with consulting services
• Start a mentorship program
• Start a membership website
• Start a YouTube channel and/or coaching blog

I created a separate post about ways to make money as a coach. The posts go into more detail about each of the above ways. Read Ways to Make Money as a Coach.

Key takeaways

Here are the key takeaways from this post and the ICF Global Survey findings on various business indicators related to coaching:

Coaching Experience Matters: Generally, coaches with more years of experience tend to have higher coaching revenue. They report higher fees for one-hour coaching sessions, work with more clients, and spend more hours coaching each week.

Experience Leads to Higher Income: Coaches with more experience typically enjoy higher annual income from coaching.

Business Coaching Specialization: Coaches specializing in business coaching tend to have above-average coaching revenue. This is primarily due to their ability to charge higher fees per one-hour coaching session. They are also likelier to have more sponsored clients. In addition, they are likelier to have extensive coaching experience and work primarily with executive-level clients.

Client’s Position Matters: The clients’ positions also play a significant role in determining coaching fees. Coaches predominantly serving executives often charge the highest hourly fees and generate the highest annual coaching revenue.

Sponsorship Boosts Revenue: Coaching revenue and fees are positively correlated with the proportion of clients whose coaching is sponsored by someone other than the client. More sponsored clients typically lead to higher hourly fees and annual coaching income.

Overlapping Factors: The factors influencing annual coaching revenue and reported fees per one-hour session often overlap, reinforcing the impact of coaching experience and specialization.

These insights shed light on the factors contributing to coaches’ success and income in the coaching industry.

When you join Universal Coach Institute, you get access to our Business Center and group calls. We show you how to increase your salary as a life coach. We teach you how to get clients and how to start, run, and grow your business. At Universal Coach Institute, you will get access to training and group calls that will prepare you to make the switch from your current job to owning your own life coaching business. No experience necessary!