You want to put your leadership skills to good use by becoming a leadership coach — but you have no idea what to expect to earn?
We get it! Leadership coaches are different from executive coaches or life coaches. As such, you can’t expect the same numbers to apply to you.
No worries — we’ve crunched the numbers, so you don’t have to!
Keep reading to discover:
- What affects your rates as a leadership coach
- How much does a leadership coach make
- The difference between employed and self-employed leadership coaches
What Affects Your Rates as a Leadership Coach
What does it take to become a money-making coach, exactly?
Below are 3 important factors that will greatly impact your leadership coaching rates!
Do you have what it takes to coach others? Specifically, do you have what it takes to help people level up their leadership skills?
Both factors are important to help you raise your leadership coaching rates. When someone hires you as a leadership coach, they won’t just pay for every individual hour they spend with you — they’re paying for the hundreds of hours of training and development you’ve undergone!
If you have a recognized certification from a reputable organization, such as the International Coaching Federation (ICF), this will affect the rates you can command.
You’ll develop the skills you need to help your clients overcome their challenges regarding leadership, which is what they’ll want to pay you for.
Your track record
There’s a reason coaches like Tony Robbins charge $1,000,000 per year to work with clients — they have a solid track record of helping people.
And when you’re closer to a “sure thing,” people will be willing to spend more to work with you!
The more testimonials and case studies you accumulate from past clients, the more you can increase your leadership coaching rates.
Which of the following theoretical coaches would you be willing to pay more:
Get leadership support in 1-hour sessions weekly…
Develop your leadership mission over 90 days.
We’re willing to bet you’d pay more for the second coach.
The first coach sells coaching sessions, while the second coach sells an outcome. When you’re developing your coaching packages, think of how you can position yourself as someone who can help your clients reach the outcome they want.
The power of your coaching offer will determine how much people are willing to invest in your services — and, therefore, how much you can make as a leadership coach.
How Much Does a Leadership Coach Make?
How much a leadership coach makes depends on location. For example, in the United States alone, the state average can vary between $43,576 per year in North Carolina and $69,324 per year in Washington.
According to Zip Recruiter, the national average annual salary for leadership coaches is $62,576.
But Glass Door tells a different story — their numbers suggest an average salary of $80,391 per year.
Keep in mind that your income can look different if you have your own leadership coaching business. Self-employed coaches must pay their own taxes, but they can also deduct business expenses to reduce their taxable income.
That’s not all — self-employed leadership coaches have to account for non-billable hours when calculating their hourly wage!
For example, you charge an average of $100 per 1-hour session. Does that mean you’re making $100 per hour? Not at all!
Instead, you have to look at the total number of hours you work on your business. Let’s say your week looks something like this:
- 12 coaching sessions of 1 hour each at $100/session
- 5 hours of admin work
- 10 hours of marketing
In total, you’re working 27 hours and making $1,200 each week. But you’re also spending $300 per month on various expenses, which works out to $75 per week.
That means your true hourly wage is:
($1,200 – $75) / 27 = $41.67 per hour
That number is much closer to the national average — and we haven’t factored in sick days and vacation time!
So how much should you charge as a leadership coach? There’s no perfect answer.
Keep in mind that if you’re self-employed, you get to set your own rates. But the higher your rates, the stronger your offering and positioning will need to be!
Make a Sustainable Living as a Leadership Coach
Now you know what you can expect to make as a leadership coach!
These are just ballpark figures, but keep in mind that there’s no limit to what you can make. You can earn $0 or $1,000,000, or — more likely — anywhere in between.
One of the ways you can increase your hourly rate as a leadership coach is to spend fewer hours on admin work. And there’s no easier way to streamline your leadership coaching business than by using Paperbell!
Paperbell lets you create, sell, and deliver your coaching packages online. Plus, it’s crazy simple for anyone to use. Try it for yourself for free!