What is the difference between a life coach, a business coach and an executive coach? Sherpa's definition of an executive coach is someone who coaches executives on behavioral issues, which basically means that an executive coach is a life coach for high-level professionals. There is a great deal of variability in the salaries of NFL players, but many players make a lot more money than their coaches. Now that you know what your colleagues in the industry are doing (and how they are doing it), you have the training you need to scale your coaching program. In reality, they are the most lucrative opportunities for life coaches; those who target top executives or professional athletes earn the highest fees.
It's quite extraordinary that someone who trains on the phone in pajamas from their home office can charge more than a Park Avenue lawyer, but it happens, if your clients get incredible results and can pay for them. A health and wellness coach supports and guides clients in setting health-related goals, such as deciding to lose weight, improve energy, how to better manage stress, etc. Coaches who work with executives may charge higher fees, but their niche is ultra-competitive and small as well. Coaches, as they specialize in helping individuals and organizations transform and grow, have stepped up a notch.
It's important to note that income from executive, life, and business coaching varies wildly (from free to thousands of dollars per hour), so these averages may not represent what most coaches actually earn. And the fastest and most effective way to reach more clients and increase your coaching revenue is to take your coaching services online. Not all life coaching jobs can have such a long list of benefits (especially early in your career), but there are some standard things you can expect. As you can see, the salary range for a life coach is quite large; it boils down to a number of varying factors, which I will address shortly in the next section.
Or you could even make a “product mix” of the different training models and charge different rates for each one, depending on your strengths and what gives you joy. Michael Serwa is a British coach who has built “one of the most successful personal training practices in the world”, which he promotes as the best practice in the UK. Life coach pay generally starts low, but some exceptionally talented and experienced life coaches make six figures, according to the Universal Coach Institute, or UCI. A large majority of coaches (71%) agreed or strongly agreed that “coaches will need to invest more in technology in the future”, ranging from 64% in North America to 81% in the Middle East and Africa.