How Much Do Life Coaches Make? Hourly & Yearly Averages
How Much Do Life Coaches Make?
Wondering how much do life coaches make? Here are the quick answers:
In 2022, coach practitioners earned a global average of $52,800.
In 2022, coach practitioners in the United States earned an average of $67,800.
This is according to the International Coaching Federation, a non-profit professional coaching membership association.
The ICF is one of the most trusted resources for information on the coaching industry. Each year, the non-profit releases its Global Coaching Study, which received 14,591 responses in its most recent 2023 edition.
While the $52,800 figure is an important data point, there’s a much better answer to the question, “How much does a life coach make?”:
It depends.
Even the ICF is quick to highlight the wide range in coach earnings. Read on to better understand the key factors that impact coach earnings. We’ll explain how and why some coaches earn well into the six figures, while others only make “side income” from this growing profession.
5 Reasons for the Wide Range in How Much Life Coaches Make
While the global average may sit at $52,800/year, this number ranges widely for a number of key reasons.
1. Experience as a Coach
Just like in any profession, experience plays a pivotal role in a coach's earning potential. Coaches don't become adept overnight; it takes years of dedicated practice, learning, and refining one's approach. The more experience a coach has, the more value they can provide to their clients, and hence, they can command higher rates.
2. Experience in a Given Career Field
Having prior experience in a specific field can significantly boost a coach's earning power. For instance, a coach with experience as a business executive might naturally attract high-level professionals as clients, who are willing to pay premium rates for the coach's insight and expertise that resonates with their own career trajectory.
3. Specialist vs. Generalist
Being a specialist in a high-demand field can give a coach a distinct edge. Let's say an established artist who has reached the peak of her profession decides to become a creative coach. Her unique skill set, combined with her track record of success, allows her to charge higher rates than a generalist coach because of her specialized knowledge and experience.
4. Marketing and Branding
A coach's earning potential is also heavily influenced by their marketing and branding efforts. Clients are generally willing to pay more for coaches with a well-established brand, which often manifests in a strong online presence, thought leadership on social media, a professionally designed website, and a clear and compelling brand message.
5. Full-time vs. Part-time Focus
The extent to which a coach devotes their time to coaching can dramatically affect their income. Life coaching side hustles are common practice in the industry today. Naturally, working an occupation part-time—due to various personal or professional reasons—is a limiting factor for earning potential. If more coaches worked full-time, the answer to "How much do life coaches make?" would likely be much higher.
How Much Do Life Coaches Make Per Hour?
Knowing the global average for coach earnings, you may still be wondering, "How much do life coaches make per hour?". Once again, the ICF provides some helpful data points. In 2022, the average fee for a one-hour coaching session in the US was approximately $244. This figure showcases the substantial earning potential for life coaches, especially when you consider that this average encompasses coaches of varying experience levels, specializations, and coaching styles.
Keep in mind everyone's situation is unique. As covered in the previous section, some individuals, due to their profound expertise in a specific field, might be able to command higher rates as specialists. Conversely, if you're just starting your journey as a life coach and targeting a broader audience, your initial rates might be lower. It's crucial to understand that building a successful coaching practice is a process, and it may take time to command higher rates commensurate with your growing experience and reputation.
Regardless of where you currently stand in your coaching journey, the demand for quality life coaching is robust, providing ample opportunity for growth in your hourly earnings.
How Much Do Life Coaches Make a Year in the US?
You may have noticed this guide opened with both the global average and the US average for yearly coach earnings. Again, the ICF reports that the average annual income for coaches in North America/the US was approximately $67,800 in 2022.
At first glance, this figure might seem low, especially considering the average hourly rate of $244 for a one-hour coaching session. However, this apparent disparity underscores a key fact about the coaching industry: many coaches engage in coaching part-time. On average, North American coaches devote about 13.3 hours per week to their coaching practices.
Taking this into account, the potential earnings for a life coach who can secure a full-time workload are considerably higher. To illustrate, let's imagine you're a life coach charging the average rate of $244 per hour and working a traditional 40-hour work week. In this scenario, your annual salary would surpass an impressive $500,000!
This tremendous earning potential is one of the many reasons why the coaching industry is attracting so many newcomers. Not only can life coaching be a financially rewarding career, but it also offers the satisfaction of helping clients lead more fulfilling and productive lives. In other words, life coaching provides an opportunity to earn a significant income while making a meaningful difference in people's lives—a combination that's hard to beat.
How to Accelerate Coach Earnings with Great Marketing
Remember Reason #4 why there is such a wide range in coach earnings? Marketing and Branding. No matter where you are in your journey as a coach, or your level of experience, great marketing can make a huge difference.
At CoachRanks, we recommend a handful of proven marketing strategies that play particularly well in the coaching space—from SEO, to thought leadership on social media, to building yourself a beautiful coaching website. For more on these best practices, please check out our other blog posts, subscribe to our newsletter, and/or get in touch to learn about our marketing packages for coaches who deserve more clients.
