How much should I charge for coaching is a very common question that I get  asked as a business coach. Unfortunately, there is no straight forward answer as many factors influence a coach’s salary.

If you’ve ever googled how much coaches charge, you’ve probably seen that hourly rates vary enormously between £25 and £6000 in both United Kingdom and United States of America. Some coaches take home over £500k every year.

So how much should you charge as a coach?

It depends on many aspects such as how many hours do you want to work, what income would you like to have, what niche you are in, do you charge per hour or per package and what lifestyle do you enjoy to name a few.

Newly qualified life coaches usually start between £25 and £50 per hour and raise their prices quite quickly to charge between £50 and £100. More experienced life coaches charge around £100 – £150.

Corporate and executive coaches charge approximately £200 per hour and usually get contracted for a whole day with the rates starting from £1500.

Business coaches usually charge per package rather than per hour. Prices of packages vary as it depends on what is included into that package and what value it provides the customer. Prices for newly qualified coaches start between £100 and £200 per hour, however, more experienced business coaches charge £200 – £600 per hour with some getting paid over £1000 per hour.

Here are some tips on how to find the right price for your services:

  • Do your market research in your particular niche.
  • Understand your ideal client including their location, family status, struggles and challenges, current financial situation and transformation that they’re looking for.
  • Decide on how you would like to charge: per hour, per day, per package.
  • Decide on how many clients would you like to work with and what services will you offer (1:1, group, self-study course, etc).
  • Figure out how much money you need to earn from coaching per year.

Here is an example of how to calculate your daily rate if you’re only working with clients 1:1.

  • If you’re currently earning £60k per year and transitioning into coaching full time, you probably would like to earn a minimum of £60k per year from coaching too.

£60,000 / 12 months = £5,000 per month

  • You’ve decided that you could do 50 hours of 1:1 coaching per month, so your hourly rate will be £100.

£5,000 / 50 hours = £100 per hour

There are many other factors that might influence this rate but at least it can give you a rough idea on what you should be charging. I recommend my clients to start with an amount that they feel comfortable with and maybe even a little bit higher. Once you get more experience, you’ll be more confident in your own abilities and skills and will feel more comfortable charging more. You can always revise your prices regularly, quarterly, for example, and increase if appropriate.

At the end of the day, the price of coaching is what your client will pay. The more value you bring as a coach, the better results your clients will get, and the more you’ll be able to charge for your services. Think about serving your clients first but also don’t forget about your own value and respect.