Now before you turn on your heel and leave a trail of floating papers in your wake as you dash to sign up your first client, is this a genuine reality? Do life coaches in the UK really earn mega-bucks? What is a typical life coach salary in the UK?
THE BIG EARNERS
There’s no doubt that life coaching can and does pull in the cash – in some cases. You only need to have heard of (or Google) the names Mark Joyner, Brian Tracy or Jay Abraham. Then there’s this article where Michael Serwa is reported to claim to earn £500,000 per annum as a life coach.
So it’s enticing to think you want a slice of that pie, and who are we to tell you otherwise?
However, life coaching is a bit of a bizarre profession compared to most. There is no linear path of career progression. There is no set formula for how to ‘make it’. In reality, there’s not really any such thing as a typical life coach salary.
DIGGING A LITTLE DEEPER
Read beyond the headline alone and you begin to get a clearer picture. Serwa didn’t wake up one day and pull in a hefty paycheck. In fact, he started very much at the bottom. He created his own website and started out charging just £20 for a two-hour session. It doesn’t take a mathematician to work out that’s not going to keep bread on your table for very long.
However, what Serwa did was start from nothing, and build on it. His fees now work out at around £2,000 per session. That’s the only way to succeed in life coaching and making a worthwhile income from it – build on successful foundations. At the end of the day, you are only ever as successful as you make your clients.
There’s another trick in there which has enabled him to push his fees up so high: he works only with the rich and famous. You can’t just walk into that – you have to earn it, based on a track record of success. However, it’s certainly true that offering life coaching to corporate clients will typically give you greater earning potential.
WHAT ABOUT THE MAJORITY?
Realistically, the majority of individuals who choose to become life coaches aren’t going to become the next Michael Serwa or Brian Tracy. It’s certainly possible but not the typical outcome. For a start, not everyone will be actively chasing the big bucks. Other areas of coaching, and different client bases, can be just as worthwhile. However, they may not be able to attract such high-paying clients.
So what happens when we start trying to pin down the average life coach salary in the UK? Well, you don’t get very far. The goalposts are wide giving many to abandon their quest and throw their arms up and just state that the average salary is ‘variable’. But at Animas we don’t give up quite that easily!
The National Careers Service has attempted to at least place the goal posts on the ground. They state: “Life coaches can earn around £30 to £60 a session, although some earn up to £300, particularly for corporate work. Most coaches sell their services as a package and charge between £150 and £1000 or more for 6 sessions.”
Another source, drawing from 237 varied data points, states the average life coach salary in the UK is £30,355.
These figures are certainly more in line with our typical experiences of coaches who train with us.
There’s also another interesting factor we need to consider when it comes to life coach salaries. Very few people wake up one day, decide to be a life coach, and “hey presto!” have a ready-made client base. The profession doesn’t work like that. What it does rely on, perhaps far more than many other professions, is reputation. And reputation takes time to build. Successful work breeds success.
In our experience, it takes a few years to really reach your earning potential as a life coach. It takes this long to find your niche – if you want one, build your client-base, and earn your reputation.
LIFE COACHING – A WORTHWHILE PROFESSION
We certainly believe that you can earn extremely well as a life coach. The possibility is there. However, your ultimate success depends on so many different variables.
Give yourself a head start by gaining an accredited life coaching qualification which will help you build your experience and reputation by choosing the Diploma in Transformational Coaching with Animas.