If you wish to switch over your professional career, it will be necessary to work on yourself in order to assess your professional experience and eventually change your profession altogether.
The profession of a coach, an expert in professional coaching, has been on the rise since the managerial culture burst into the corporate world.
According to a survey conducted by the International Coach Federation - about coaching awareness among 18,810 individuals in 25 countries, in 2014, 31.1% of respondents said they had a business coach to improve advancement and business management strategies.
For 39.3% of them, professional coaching was used to optimise the professional performance of individuals within a team. But how much does it cost to coach?
Professional coaching is a valuable service that has been growing in popularity, particularly over the past few years. Students and working professionals alike turn to professional life coaches for advice related to their own personal lives, career goals and structured personal development.
There has been a recent surge in the demand for qualified professional coaches across the island of Ireland in recent years. Providing life coaching sessions on topics such as how to handle conflict, progress in your professional role or adopt a positive mindset are all ways in which you can provide your service outside of the office.
Therefore, it is certainly worthwhile exploring all of the options and teaching methods available to you such as on a one-to-one basis and online via webcam. By adopting new avenues for teaching and consulting your clients, you will inherently broaden your horizons for potential customers.
This can create a subsequent increase in the number of people that you can take on as a professional coach, and add to your stream of income from the profession. There has never been a better time to become a professional coach in Ireland!
It can be difficult to decide on your rates. If you take the time to do your research and see where you fit in the market, you should be able to find the perfect price regardless of whether you prefer working with professionals, students, or older clients.
Thankfully, calculating how much you will need to charge in order to make a living is much easier when it comes to one-to-one coaching sessions. You don’t need to be an accountant to add up your expenses and figure out how much you need to charge per hour in order to earn a living as a professional life coach.
How much can you charge for professional coaching sessions?
Professional coaching sessions are an interesting option for both young and not-so-young learners. Whether your clients are in school, university, working, interested in changing jobs, looking to re-learn computer skills and communication skills, or learning to manage customer relationships, you can adapt your sessions to help almost anybody.
| Location | Average Hourly Cost of Professional Coaching |
|---|---|
| Dublin | €36 |
| Drogheda | €40 |
| Limerick | €38 |
| Waterford | €38 |
| Cork | €46 |
| Galway | €38 |
| Kilkenny | €38 |
As you can see, if you are in Dublin the average coaching cost per hour is €36, while elsewhere you could be looking at around €40 for the coaching prices per hour. These figures are likely to deviate depending on your experience and the needs of the person.
In Ireland, the typical salary that you can expect as a full-time life coach in one of the country’s larger cities is approximately€35,000 – €48,000 a year. When you are trying to arrive at a salary or hourly rate for your sessions, the local area and the cost of living are important factors to consider!
You should always keep the living expenses of the area that you plan on teaching in the back of your head!
How much you will be spending annually on rent, food, travel, etc. will play an important role in determining the rate that you will need to charge your clients to make a living.
That said, if you live where there are more professional firms or with a lot of students, you may have to adjust your rates to cater for the greater demand.
How much are individual professional coaching lessons?
Every professional coach is free to set their own rates, but in the case of a coach helping individuals and meeting them at their place of residence, coaches won't get away with charging €1000 an hour.
They will have to do their homework and research the state of the market for their area and align their prices with the competition finding the perfect "relative market price".
Usually, a personal coaching session will waver between €60 and €100 per session.
However, the price of a professional coach for a manager within a small or medium-sized company will be different from the fees of a self-employed professional.
A professional coach will then have to lay the foundations for the first estimate of their fees, according to the market price.
But this amount - whether it is below or above - also determines the number of future clients.
Read on to discover the benefits of working with a career coach, who can empower you to make informed decisions and reach your full potential.
The criteria to determine a professional coach's fee
First of all, it is important to remember that, not unlike home tutoring, the prices of professional coaching sessions will vary according to a set of determining criteria.
Professional coaching involves a high level of expertise and experience, but the skills needed to strive for professional success are often paid at a high price. You will need to coach some high-level workers on their careers.
Career coaching is for those who are looking to improve their professional performance.
A career coach will be able to provide guidance on working your way up the career ladder or navigating a career change with expertise in leadership coaching and help you overcome any obstacles to your success.
Although career coaching is associated with helping others advance professionally, it is also interlinked with personal coaching, as it involves helping people get what they want out of life by helping them get into the right mindset to do what it takes to achieve their personal goals.
As you could expect, the average hourly rate for providing these sessions online is a little cheaper than in-person alternatives, averaging at about €80 per hour in Ireland.But of course, you could charge more, depending on your level ofeducation and experience– including any teaching experience you may have!
And then there are also many themes related to this career coaching, objectives that will require a higher or lower level of skills, and therefore a higher or lower price:
- Life Balance Coaching,
- Conflict management coaching,
- Coaching in human resources management,
- Career development and career management,
- Stress Management Coaching,
- Health coaching,
- Speech Coaching,
- Coaching to let go,
- HR coaching.
Ultimately, the question of the session setup will be the last factor in determining the price you could charge as a professional coach or get charged as a client.
Will the sessions happen on the phone or in person? Will the client meet their coach off the premises of their company or will the coach meet them in their offices? How long will the sessions be and how often will clients and coaches meet?
Perhaps the main criteria that will affect the price of career coaching are the coach's experience, expertise and coaching tools used to help clients and enable them to achieve their goals.
A coach's training courses and diplomas will be a significant factor in finding their first clients.
All these questions need to be addressed before agreeing on a price.
Get a sense of how much you can charge on Superprof
Make sure to have a look on Superprof for other professional coaches in your area and check out the competition.
By searching for professional coaches and the area in which you intend to take your sessions, you will be able to get a sense of the prices they charge. This will ultimately help you to make an informed decision on your own hourly rate!
Don't forget that coaching out of your home or office isn't the only option. If you are looking to give private tutorials to students, youracademic coaching could reach all over the world thanks to the internet.
While the students being tutored aren't in the same room, with a computer, webcam, microphone, and a decent internet connection, anyone in the world can access your tutorials.
While the hourly rate for private tutoring sessions is likely to fluctuatedepending on the respective experience of the tutor, it will provide you with a great benchmark to arrive at a fair price. Just a short browse through the tutors operating across the island of Ireland and you’ll find out what you can charge in your area.
The professional coaches who list their services on the Superprof platform know that investment in knowledge has a price. This price considers the tutor’s qualifications and the time taken to prepare and give their sessions. Additionally,the price will vary according to supply and demandsurrounding the number of other coaches offering their services.
Get your career rolling and start giving professional coaching sessions on Superprof today!
