You can find tips for climbing the corporate ladder all over the internet. Forbes lets business experts pay them to publish articles about getting ahead at work. HBR shares research and best practices in their leadership and career development articles. Blogs and Instagram posts burst with ideas about how to find success.
But what if you’re not a ladder climber?
What if you want to leap ahead? Branch off? Or now that we’re mostly online, maybe you want to reinvent your career? You need a career vector not a path or a pivot.
Studies show that top income earners with high job satisfaction have one thing in common. Especially in challenging times like these.
They have a coach.
It may be a formal or informal relationship–but they talk with this person about their job on a regular basis. Interestingly, the more often they talk with their coach, the more money they make and the higher they rate their happiness.
But most professionals have never had a coach.
And often, they’ve never had to look for a job. They’ve been recruited or referred to a hiring manager.
And suddenly, things have changed. The world of work and job searches is not what it used to be.
To make matters even tougher, you don’t have time for trial and error.
You’re no longer sure if hard work and dedication will earn your next promotion.
AI screens your applications for new jobs and interviews are online instead of in-person.
Personal branding and social media matter, but who has the time?
Would a career coach help you cut through all the noise?
Could a coach maybe save you endless hours applying for jobs online? Help you jump a few rungs on the ladder instead of just struggling to hang on? Help you turn your side gig into a thriving business?
This article is the first in a series of FAQs about business and career coaching. Starting with the most common question I get asked about career coaching, like how much it costs.
How much does career coaching cost?
Entry-level professionals earning salaries of less than $50,000 can get good coaching from large companies like TheMuse.com for as little as $50. And LinkedIn Learning has many free digital programs that don’t get you individual coaching, but can help with DIY interview preparation and resume writing.
Big career coaching companies with IT departments and lots of coaches on contract, like Korn Ferry or Heidrick, use a commodity business model supported by online materials. Others, like the Entrepreneur’s Source or Success Coaching, are franchises.
Both types of companies use a preset system. Coaches follow a script. Service is not individualized. Nor does it need to be if you’re looking for basic services similar to what a college career counselor would provide.
This is a good option if your decision about coaching is going to be based on price.
Experienced professionals with $6 and 7 figures incomes generally don’t choose coaches based on price. They choose a coach based on the results they want to accomplish.
Celebrity coaches like Brendan Burchard, Tony Robbins, and Brene Brown often appear as the face of the company. Clients are actually assigned to a “team member” and rarely, if ever, interact one-on-one with the celebrity in person.
Fees for executive coaching range from $500 to $35,000 a month with programs running up to one year. My coach, for example, charges $80,000 for a year coaching program.
The range in costs of executive coaching depends on various factors including:
- How much the coach charges by the hour ($40 to $5,000)
- How well-rated the coach is in verified, online reviews
- The coach’s certifications. How well known, how difficult, how well respected the certifying body is with business leaders (Agile, ICF, mediation, and other disciplines).
- If their coaching program is custom or volume-based
- What their client list looks like
- How much the coach is in demand
In my next post, I’ll answer the question, “Do I Need a Coach or a Recruiter?” Or you can read it now in my FAQs.