While you may not specifically call yourself an executive coach, many of you work with executives. So the 8th Annual Executive Coaching Survey by Sherpa Coaching has some interesting results on the field and includes results from 53 countries.
It would seem to make sense to pay attention to what these coaches are doing and saying while building your own business.
Here are few tidbits from the free report available from SherpaCoaching.com
As ADHD coaches would have guessed,
[…] compared to business coaches, executive coaches charge more for services. On the low end, 36% of business coaches charge an hourly rate of $150 US or less. Only 14% of executive coaches charge at those rates.
How do you think that might look the same or different for ADHD coaches?
Coaching helps people in three ways:
- First, a coach allows leaders to reflect about their decisions, and about themselves. A great many coaches used the term ‘awareness’ in describing the benefits of coaching.
- Second, people usually avoid difficult truths. Coaching brings reality front and center. As one coach put it: “Executives [ed. note: and many people with ADHD also] don’t have anyone to trust and tell the truthabout where they need development. ”
- Third, people don’t know how to change. A coach can guide a client to find replacements for behavior that’s not working. As leaders themselves make changes, they can help their organizations deal with change more effectively.
From the section on page 22:
What makes a great coach?
Volume, but no discount:
Coaches who charge the lowest rates actually have fewer clients than the middle and upper tiers. Most low earners report seeing 5 or fewer clients each week. Most mid and top-level coaches see 6 or more.
A second report available is the 2013 Coaching Survey Earnings Report
On page 3, they do the number crunching on common financial markers. The survey says, regarding Life coaches:
- Average Hourly Earnings: $130/hr down from $160 in 2012
- Average number of clients: 7.70, up from 6.36 in 2012
- Annual Earnings: $49,890, down from $55,450 in 2012
How do your numbers and your practices measure up?
Please note: This is in no way intended to suggest any change to current rates