Executive Coaching: What Does Executive Coaching Cost?

Published: 28th September 2010
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Executive coaching is a specific part of success coaching focused more towards leadership skills. If you are looking for an executive coach either individually or for your company you are probably wondering what it executive coaching costs. I will give you some hard numbers but first lets discuss what executive coaching can do for you and/or your company, what to look for in an executive coach, and how to go about hiring an executive coach or executive coaching firm.

Whenever contacted by a potential client, a good executive coach first determines whether executive coaching is right for the person or company. Some of the information they will be looking for: What are your current problems? How much are those problems costing you and/or your company? Where would you like to see improvements? What is working well now? Although, it’s advantageous to have solid numbers when contacting an executive coaching company, a good executive coach can help you uncover potential issues you don’t currently know exist.

Let’s say your an individual who currently makes a salary of $100,000 a year. You contact an executive coach to learn to be a more effective leader and to acquire a higher position in your company. One of the first things an executive coach will ask you is how many hours per day/week you are working. Say you are currently working 16 hours a day 5 days a week. Your effective hourly rate is only $24 an hour. That’s less than the pay of many blue collar workers. With the proper executive coaching you can easily learn new leadership skills which will bring your hours down to a more reasonable 8-10 hours a day effectively doubling your hourly pay. Furthermore, if you are working 16 hours a day, your team is probably working similar hours. This effects morale, productivity, and profits.

This is a simple example to show with the proper executive coaching you can double your hourly wage, improve morale, productivity and profits of your team all by leading more efficiently. This puts you in a perfect position to either ask for a promotion for more responsibility or to take your success to another company or profession with a much higher salary. These type of tactics implemented company wide can increase profits exponentially.

This article does not have the room to go into any specific techniques but lets discuss the cost of executive coaching. As you can clearly see, executive coaching can make you quite a bit of money through increased salary, productivity and bonus achievement.

With your increased profits in mind most individual executive coaching contracts will cost between $4000 and $6000 a quarter depending on the experience and techniques the executive coach employs. Some executive coaches work hourly and typically charge between $250 and $500 an hour. The other option is on a company retainer which is negotiated with the executive coaching company. A typical retainer would be $10,000 per quarter and include between 20 and 40 hours of billable time. Obviously, the benefits of increased profits, productivity and morale far outweigh the minimal cost of executive coaching.

For your free course on some of the leadership skills mentioned in this article go to DynamicBreakthroughs.com.

Ryan Camana MNLP, MHt, MTT, BA is the President of Dynamic Breakthroughs.

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