A career coach is often only discussed as someone is well into their career.
The concept of having a coach is foreign to many.
Common questions include:
What is the role of a coach?
How is this different from a mentor?
And how much does it cost?
There are many factors that go into finding the right coaching match.
Yesterday, we covered the different types of engagements including self-coaching, one-on-one, and group coaching.
Today, we will focus on 1-on-1 coaching.
Below are and discuss popular services, types of engagement, and pricing.
Popular Services
The following list are just some of the coaching services you might encounter.
- Personal Development – Interpersonal skills, delegation, presentation, time management
- Personal Branding – Resume and cover letter development, identification of strengths
- Job Search and Interview – Customized search plan, networking strategies, mock interviews
- Career Transition – Switching industries, moving up/down the corporate ladder.
- Leadership Development – Managing teams, effective communication, setting vision.
- Executive – Similar to leadership development for executive level leadership
- Entrepreneur – Business planning, market research, financial management
- Small Business – Revenue streams, pricing analysis, marketing
Types of Engagement
Coaches typically offer two types of engagements – single sessions and packages.
For the sessions, you pay an hourly fee each time you want to schedule a meeting with the coach.
The advantage here is that you manage the frequency and the budget.
However, for more than 1-2 sessions, there is likely a financial advantage to selecting a package.
Packages typically come in two forms:
- Time Based – These packages often give a discount for scheduling more than one session. Popular time-based sessions include offers like meeting every other week for six months or meeting monthly for a year. Sessions typically range from 30 minutes to 2 hours.
- Tailored Program – These packages are typically a bundle of 3-5 sessions focused on a topic. Popular tailored programs include personal branding, career transition, and entrepreneur.
Coaching Costs
With the variability of the services and packages, there is a wide range of coaching costs.
Factors such as the expertise of the coach and location of sessions (in-person vs. virtual) can increase/decrease the rate.
Below are some guidelines to expect:
- Entry-mid level employees – Average around $100-150/hour
- Mid-to-upper-level managers – Average around $200/hour with some upwards of $500/hr
- Executive and Entrepreneur – Average around $350/hour with some upwards of $1000/hr
Your Turn
Have you hired a career coach?
What were the benefits?
Do the services/pricing here seem accurate?