How much does Business Coaching & Career Coaching Cost? 2021

What is Business and Career Coaching?

Whether you’re creating a startup or are looking to take the next step in your career, all of us need a strategy to reach our goals. One of the best services to reach out to for this purpose is a career or a business coach. 

As the name suggests, business coaches help you with all things business. This includes everything from startups to growing an existing business. Career coaches are for those who are employed and are looking to progress within their career. 

Your business or career coach will look to highlight your strengths, and challenge you to work on any weak points so that you can get where you want to be. 

The sessions will give you the chance to talk about any issues you are currently facing. It could be that you want to grow your business or take on a managerial role, or even change careers altogether. Business and career coaches are there to support you every step of the way.

How much does Business Coaching cost? 

The cost of business coaching ranges between $110 and $200 on average per hour, depending on the level of experience of the coach, as well as your location.

Both business and career coaches offer different things. Some will be great at teaching leadership skills, and others will be better at building your confidence.

On average, you should expect to pay $135 per hour for business coaching. By bringing all the relevant information about your business to your first session you can hit the ground running with your coach. 

It can be helpful to write down some ideas about what you’d like to achieve through business coaching so that your professional is best able to help you. Having this knowledge will also help you align with the most suitable coach based on your goals.

How much does Career Coaching cost? 

The cost of career coaching ranges between $125 and $250 per hour, with an average price of $175 per hour.

One aspect which will affect the cost is the type of skills or attributes you are looking to work on. For example, learning what it takes to climb the corporate ladder, will likely be more specialist than getting help with your first job out of college.

As with business coaching, it’s possible to book individual sessions or block sessions for career coaching which may work out cheaper. Some career coaches also offer special packages too. 

What changes the price of Business or Career Coaching? 

The cost of business or career coaching varies depending on several factors, including: 

• Type of coaching

• Coaching requirements

• Number of sessions

• Time

• Location

Type of coaching

Do you want someone to help you on a basic level, or someone with decades of experience who can solve a specific problem? Those who are new to coaching may charge as little as $65 per hour. This raises to $350 and above for the most in-demand professionals such as global CEOs.

It’s important that the coach has experience in the exact goals you would like to achieve. Some coaches may have even worked in your particular field too, so will know better than anyone how to get there. Experienced coaches will naturally be more expensive, though won’t all charge at the very top end for their services.

While it might be tempting to go for the cheapest option, try to view the professional in terms of what they offer, rather than what they charge. After all, you need to be sure you will truly benefit from their coaching style.

Coaching requirements

No two people are at the same stages of their career or are even facing the same issues. If you require intensive coaching, this will likely cost more than an occasional pep talk. There’s also a huge difference between career coaching and business coaching, depending on if you’re employed or self-employed.

Number of sessions

How many sessions do you need? A good way to manage the cost is to ask up front how many sessions you will likely require, based on your specific goals. Some people will only need a small handful of sessions, and others want to build up a long-term relationship with their coach. You may also want some top-up sessions in the future, so the service is entirely flexible for your needs.

Time

Coaching sessions will usually last for 1 hour, making them ideal to have over lunch or after work. Though it all depends on the time you have available, along with the time options your coach offers. Initial sessions may be longer, such as 2 hours so that your coach can get to know you, and work out a plan of action.

Location

The location of your career or business coach will impact the cost. Not only is this due to variable living costs but also the types of experience a coach may have depending on where they live. Typically, city locations will be more expensive. The cheapest area of Canada to receive business or career coaching is Yellowknife, averaging at $95 per session. This raises to $200 per hour for business or career coaches in Toronto - especially those with experience working within the Financial District of Downtown Toronto. 

Keep in mind that as coaching can also be done online, it’s possible to find a business or career coach from another area of Canada, which may raise or lower the price of their services. 

However, one advantage of hiring a business or career coach online is that you can select the best professional for your needs, regardless of where you are based. Plus, you don’t have to factor in the travel time or cost either! 

Is it worth getting Business or Career Coaching?

Sometimes we all need a little help in planning our next steps within our career or business. Seeking trusted advice from a professional who's been in your shoes can open up a world of possibilities. Whether you’re looking to get that promotion or start your own business, nobody can do it all alone! Therefore business or career coaching is certainly worth the investment.  

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