How Much Does Executive Coaching Cost (2023)?
The quick answer: executive coaches charge about $350 an hour on average, according to SHRM magazine.
A little quick math shows us that a six week engagement with one hour-long session per week comes out to $2,100.
1 hourly session per week x 6 weeks x $350 = $2,100
However, SHRM also reports that hourly rates can range from as little as $200 to as much as $3,000. A variety of factors determine your own executive coaching cost.
So, your actual cost will vary. We’ll explore these in more detail below.
The coaching industry is a big field. There are tens of thousands of executive coaches out there. Per the ICF Global Coaching Study, 2020, there are 71,000 coaches globally and 23,000 in North America alone. Each has their own coaching program, pricing strategy, and coaching fees. Looking at another source, executive coaches can cost anywhere from $13,000 to $30,000 for a six month engagement, per the Conference Board Council’s Executive Coaching Fee Survey.
Let’s take a closer look at the factors affecting the cost of executive coaching. At the end of this article I’ll outline some of the top things you’ll want to keep in mind if you’re looking for a coach.
Pricing strategy
Typically there are four different pricing options:
Pay as you go with an hourly rate or flat rate for individual sessions.
Package or bundle of sessions (usually discounted).
Membership with an automatic monthly payment like your phone or gym membership.
Retainer with a similar setup as a lawyer or consultant. You reserve the right to access someone for a period of time. You get full access for, say, a twelve month period. You’ll be at the top of the list, with priority for calls, scheduling, and response times.
Coaching Engagement Structure
How your engagement is structured will be reflected in your cost. Some common structures are:
Duration of Overall Engagement
How long you work with your coach will impact your overall cost. Are you looking for...
One week?
Six months?
One year?
More than that?
Coaching engagements often last from three months to two years. Six to nine month engagements are common for clients focusing on developing particular leadership skills.
Depending on fit and need, longer engagements are common too. Many CEOs appreciate the outside perspective and personal understanding their coach provides. After an initial engagement, they might check in monthly, quarterly, or annually instead of weekly. Yearslong engagements like these can be extremely rewarding, both personally and professionally.
Duration of Sessions
How long your sessions last affects your cost, too. Are they...
15 minute “flash” sessions?
30-45 minute sessions?
60 minutes?
Even longer?
Coaches sometimes recommend longer sessions in the range of two or more hours for group coaching, training, or seminars. This can be a good way to get insight not only from your coach, but from other executive leaders. At the other end of the spectrum, a coach may offer “flash” coaching sessions as short as 15 minutes. This will all depend on how your coach works as well as your own preferences.
Frequency
Will you meet...
Weekly?
Every other week?
Once a month?
Will you start with more frequent meetings and then taper off after a month or two?
Are sessions at a set time or do they move around?
There are lots of different ways to approach this—none are “right” or “wrong.” It all depends on whatever suits your own situation.
One-on-one or group coaching
Will your coach work with…
You solo?
Your entire executive team?
A coach may also work with a small group of managers or colleagues, perhaps up to four people.
Location
Are you meeting…
In-person or remotely?
Video call or good old-fashioned telephone?
Are there time zone differences to consider?
Availability and Response Times
Do you want your coach available on...
Weekdays?
Nights?
Weekends?
How quickly do you expect a response…
Same day within normal business hours?
No rush, within a couple of days?
Or within 20 minutes at 3 AM?
There are coaches out there that can accommodate any of the above—with a corresponding effect on your coaching fees.
Level of the Executive
Higher level business leaders, business owners, or senior leaders typically pay more for coaching. The further from the CEO, the less you’ll pay.
Top executives might pay more than $500 an hour, while $250 to $400 might be typical for someone a few rows down the org chart.
Type of coaching
Every coach has their own style, but they pretty much fall into a handful of broad categories. Finding the right coach for you will help determine the kind of coaching relationship you’re looking for—and will accordingly affect your cost.
Business coaching
This is a broad category of coaching.
This could be about working on business acumen in general, but is often focused on a specific area of business.
For example, senior leaders of sales departments might seek coaching on how to reach quarterly quotas. Likewise, business owners might look for entrepreneurial coaching. This style of coaching can also be a helpful way to integrate new business leaders from a recent acquisition and build a sense of camaraderie in a new team.
Leadership coaching
This coaching style is all about giving a leader the tools they need to be successful. It can help executives who are moving into a new role. This is a good fit for people who need new skills, tools, or approaches. Think: “what got you here, won’t get you there.”
Leadership coaching is a great way to work on delegation, communication, and moving from “operational doer” to “strategic thinker.” Leadership coaches also help people work on their interpersonal skills with colleagues, driving collaboration among team members, and time management and prioritization.
Career coaching
Career coaches help team members determine their career path, trajectories, or goals.
A career coach will help you zero in on what you like doing, what you’re good at, and how your interests and skills can be best applied.
This might be internal within a given company, or it might involve working with an independent coach. Career coaches work with team members to figure all of this out, and help determine a plan for achieving the goals they’ve identified. This is also a helpful style of coaching for career transitions.
Life coaching
Life coaches extend beyond the professional sphere, considering not only professional goals, but personal ones.
What happens outside of work affects how you show up at work, and a life coach takes a holistic view. They might focus on work-life balance, or cultivating mindsets for tackling all of life’s challenges.
Setting Goals
What does a successful coaching engagement look like to you? By the end, what kind of results would you like to see? Are you looking to...
Build leadership skills for your C-suite executives?
Enact a specific behavior change?
Work on your personal and professional development?
What you’re looking for will affect the structure, duration, and kind of coaching for you, your team, or organization—and therefore your cost.
Coaching experience
Years of coaching experience
How long has the coach been at it? New coaches may be a little cheaper.
Years of relevant work experience
Small business owners might look for a coach for themselves or their direct reports. They might want a coach who has worked in a small business themselves. Similarly, if you’re in a niche vertical, you might want someone with experience in that industry.
Credentials
Anyone can call themselves a “coach.” Be careful here.
There are lots of certification programs. Having a certification is a good sign, but there can still be pretty big differences.
The main thing you want to look for is an International Coaching Federation (ICF) credential.
The ICF is dedicated to establishing best practices for the coaching industry. This is a rigorous professional certification that indicates certain standards and requirements have been met through education, experience, mentor coaching, performance evaluation, and exams. Anyone who is ICF-certified is also dedicated to the ICF code of ethics.
Tools used
Assessment tools like Myers-Briggs, Strength-Finders, and DISC can be powerful tools, but might come with increased cost. Does the coach you’re considering have a signature program of some kind? A set process they use to work with their clients? This kind of tool or program is certainly not a necessity, but can be a good resource if their program complements your own use case. At the same time, don’t let someone force you into a program if it doesn’t fit what you’re trying to do.
Coaching is worth it
No doubt, executive coaching services are a significant investment. But the coaching experience is well-worth the price of admission.
Finding the right coach can take you to the next level and change the trajectory of your career and even your life. A coach’s value is tremendous.
Once you try coaching, you’ll wonder why you didn’t start a long time ago.
If you’re looking into coaching, good for you. There are so many things you could invest your time and money in...investing in yourself is always a good bet!
Find the right coach!
There are lots of good coaches out there. Finding the coach for you or your organization is the key.
A successful coaching relationship is all about fit. You want someone with the right knowledge and experience, of course. But you also want someone who passes the gut check—someone who just gets you.
For more info, check out my top tips for finding a leadership coach.
Recommended next steps
Research some executive coaches.
Read their testimonials.
Reach out to 3-5 of the best ones you find.
Questions to ask
A good executive coach should offer a free intro or consultation call. If they don’t, run far away!
The intro call is your chance to get a real sense of them. Talking to someone tells you a lot more than just reading about them.
When you meet with a prospective coach, ask them a few questions:
First, let them know what brings you to coaching. Then you might ask them...
How you might work together on what you just described
What type of (similar) clients they’ve worked with in the past (and what results they saw)
About their coaching and other professional experience
What areas do they specialize in?
What kinds of coaching engagement do they offer?
What their recommendation would be for how to setup an engagement with you?
Does this sounds like a “one size fits all” approach or specific to what you need?
And, the coach’s favorite—what commitment do they need from you?
When you’ve had your consultation, ask yourself:
How do you feel talking to them?
What would it be like to work with them?
Do you think they could actually help you?
My coaching process
Here’s how I like to work with my coaching clients:
I offer a free intro call, typically a casual 30 minute chat.
If the client decides they want to move ahead, we’ll structure the engagement according to their needs.
Maybe they want two sessions this week to prep for an interview next Tuesday.
Or maybe they want a six-month engagement for five executive team members who have just gone through a massive restructuring.
My most common engagement with a new client is a bundle of three to six sessions over a 30-45 day period.
I do offer a bundle discount, as well as a new client discount, and a courtesy discount if you make full payment up front.
I specialize in one-on-one coaching. I provide sessions over Zoom or phone.
I often work with early executives or C-suite executives in career transition. I also coach a number of Chiefs of Staff (I worked in that role myself.)
I worked in rapid growth SMB companies for most of my corporate career and multinational corporations like Microsoft and Amazon earlier in my career. I have a pretty even mix of clients across different sized businesses, with a lean toward technology-based business industry verticals.
If you’d like to jump on an intro call, feel free to schedule one here. I’d love to hear from you!
Did you find this article helpful? Don't miss our newsletter for more valuable insights and updates on executive coaching and leadership development. Subscribe now!
About The Author
Emily Sander is an ICF-certified leadership coach with more than 15 years of experience in the business world and the author of Hacking Executive Leadership. She’s been featured in several print publications, online articles, and podcasts, including CEO Today Magazine, Leading to Fulfillment, and Leadership Powered by Common Sense.
Emily has a passion for helping business leaders reach their full potential. Go here to read her story from seasoned executive to knowledgeable coach. If you want to send Emily a quick message, then visit her contact page here.