#How much does the leader in me program cost professional
Those looking to hire an executive coach should take into consideration, not only the coach’s training, but their professional paid coaching hours. While this number is encouraging, there is a difference between having executive coach training and having coaching experience. In the 2016 ICF Global Coaching Study, which surveyed 15,380 respondents from 137 countries, a majority of coaches reported having taken formal training (99% of coach practitioners received some form of coach-specific training), with 89% receiving training that was accredited or approved by a professional coaching organization. When looking at an executive coach’s rates, their level of training is an important factor to consider. Coach specific experience & trainingĪs mentioned, the coaching industry is not regulated, meaning coaches can have varying degrees of training from a long list of training institutes and online programs. Let’s take a look at how these different factors affect the price of executive coaching. The cost of hiring an executive coach can vary greatly depending on the coach’s level of experience, the length of the coaching engagement and who is being coached.
While the I nternational Coach Federation (ICF) has standards for certification, it doesn’t have any guidelines for coaching rates. Reliable information about executive coaching, especially regarding pricing, is scarce because the coaching industry is relatively new compared to more established professions such as law and accounting. However, those organizations who are new to the coaching realm may not know the average prices and what to look for in an executive coach. Companies who are familiar with executive coaching services typically set aside budget for their top layer executives and directors to be coached and have a grasp of how much they will to pay for executive coaching services. When hiring an executive coach, it’s important to do the research to find the right coach for your professional needs and, naturally, the coach’s hourly fees are going to be factored into your decision. The 2016 ICF Global Coaching Study calculates that there are approximately 10,900 managers/leaders using coaching skills – a number that is expected to grow. In fact, one study by HR consulting firm Hay Group estimated that between 25 and 40% of Fortune 500 companies use executive coaches. The role of executive coaching is now firmly established in the modern business world, with many companies opting to hire either an internal or external executive coach for their employees.