Well hey there, glad you swung by to learn about the investment into coaching. As a professional development service, coaching is a powerful way to help you achieve your goals. The price of a coaching package can range from under $500 to over $10,000.
The price of coaching will depend on the experience of the coach, the value they're offering, and the exclusiveness of the coaching program.
I'll talk briefly about what to expect from coaching and then explain what you'll get at different price points.
What is coaching?
Coaching is different from training and mentoring, the other two most common ways to grow your professional skills to advance your career.
When you have a mentor, they will answer your questions and give you advice based on their life experience.
In a training program, an instructional designer decides what you'll learn, and then an expert trainer helps you learn and practice that material.
Mentoring and training are valuable and will help you develop, however they aren't typically focused on being a transformational experience.
Coaching is focused on helping you transform, and it starts with YOU. Imagine having a thought partner who's trained to focus exclusively on you, without any agenda or judgement. A coach helps you learn how to solve problems using the skills and experience you already have. You'll learn how to "see" how you're showing up and choose a more productive response.
Coaching is a natural partner to both training and mentoring programs. A coach will help you navigate challenges as you practice the new skills you learned in a training program. And a coach can give you the space to reflect on those skills, along with the advice you receive from your mentor, peers and boss.
Coaching programs can be as exclusive as an individual, one-on-one service, they can be semi-exclusive like a mastermind group of 3-5 people, or they can be a larger group coaching program with as many as 15 participants.
Common Goals for Coaching
Here are some of the most common goals that my clients bring to coaching to help them advance their careers.
Feeling confident expressing ideas
One of the most frequent goals I hear from clients is to increase their confidence and decrease self doubt. They want to overcome impostor syndrome and feel confident expressing thoughts and ideas in meetings or other discussions at work.
Improved strategic thinking
My clients are often excellent problem solvers and strategic thinkers, but they feel distracted worrying about what other people think about their ideas. They want to to care less about what people think - so that instead of feeling anxious, they think and speak clearly when they're in the spotlight.
Increased resilience & mental fitness
Many of my clients come to coaching after they realize how much stress they bring home from work. Together we work on identifying trigger situations and pivoting to a more productive response, so that they can enjoy their personal and family lives without worrying about work.
Leadership style & presence
My clients are often high achievers who are ready to move into managment and other leadership positions. They want to discover their own leadership style and best develop skills necessary to succeed in executive roles.
How coaching packages are usually structured
Typically, a one-on-one coaching package will give you a certain number of sessions over a certain period of time. For example, a common coaching package includes 12 sessions, either weekly (over three months) or biweekly (over six months).
For leadership and professional develoment coaching, it's common to enroll in a six or even twelve month package. This gives you the time and flexibility to develop your skills while balancing other pressures and responsibilities.
What you should look for when choosing a coaching program?
There are three main questions you can ask when you're considering a coach.
How much does coaching cost
(And what do you get for that price)
Note: The prices below are based on corporate rates for professional development coaching. In other words: your company pays for the coaching program. Some coaches offer reduced rates if you are self-funding your coaching or you work for a non-profit. And don't discount the possibility your boss would pay for coaching, even if you're not in a management position yet.
$500 - $1000
While rare, you may be able to find a coach offering a program for under $1000. Usually this will be a beta program or an offer by a new coach who's willing to charge a lower rate in exchange for testimonials their website. If you're willing to work with a newer coach or try a beta program, this can be a win-win opportunity!
This price range also includes one-off sessions with a seasoned coach, where you work through a single problem. While $500 may seem like a hefty price for a single appointment, you'll be amazed at how much can shift in one session with a strong coach.
$1000 - $2000
This price range will generally include group coaching options. These groups might be smaller masterminds, but they'll most likely be larger groups with as many as 15, 20 or even 30 participants. This can be a great option if you're willing to trade individualized attention for a lower price point.
You'll find a wide variety of options at this price point. Group programs at this price are generally more intimate, with 10 or fewer participants. You can also find shorter individual (one-on-one) coaching programs, such as a 6 or 8 week program.
You'll generally find experienced coaches with strong credentials offering individual packages in this range. These packages will generally run from 3 to 6 months and likely include at least one self-assessment. These coaching packages are typically geared towards high potential employees as well as front line and middle managers.
Group programs by coaches in high demand can also fall into this range, especially programs for C-suite executives. These group programs are often augmented with one-on-one sessions and group sessions likely occur once a month to account for an executive's busy schedule.
You'll be able to find high-ticket coaching packages starting at $5000 and rising to as much as $15000, $25000 and even more. For individual coaching, the package will typically last between 6 and 12 months. The packages will often include 360-degree feedback as well as one or more self-assessments. The package often includes touch points with your manager or sponsor. Many of these packages are geared specifically towards C-suite executives or other positional leaders in the organization.
So how much should you pay?
As I'm sure you can tell, with such a wide range of prices, ultimately you get to decide. There truly is no "wrong" answer, it depends on what you're looking for.
Are you willing to work with a less experienced coach or try a beta program? Then you can get a longer program for less cost, BUT you need to bear in mind that they are less experienced.
Would you like to work with an experienced coach who has strong credentials? You will either pay more for individualized attention OR you can choose to join a group program.
No matter what you choose, a professional coach will help you reach your goals and feel more energized, motivated and confident at work.
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