Personal Coaching And Costs
The number of people engaging professional coaches to improve their personal and professional lives has seen phenomenal growth in the recent past. Personal coaching helps individuals to scale ever growing heights. It enables the individual to analyze himself and determine his faults, shortcomings and discover methods to overcome them. Since financial constraints are ever present, the fees charged by the personal coach have to be given careful consideration before hiring one.
Professional coaches offer differing rates for different packages of services that they can provide. The individual coaches determine these charges. Packages include specific items with the personal time given to each specified element. It could also include time spent on the telephone, fax or other means of impersonal communication. The fees payable will have to be decided based on the items included in the package.
Since the more experienced coaches are likely to ask for higher remuneration, the amount of experience that the coach has behind him becomes important. It is advisable to choose a more experienced coach at a higher cost than an inexperienced one who will charge less. The quality and quantity of training that the coach has had will also play a part in the fee charged by him. The International Coach Federation has fixed the quantum of fees that personal coaches may charge. For about half an hour per week of coaching, a fee of about two hundred and fifty dollars may be about normal.
For business executives, fees charged by personal coaches are likely to be much higher than for individuals. Such clients are likely to spend more than half an hour per week with their coaches, say, between an hour and two hours per week.
Some highly reputed personal coaches with a lot of experience behind them are likely to charge from a hundred to a hundred and fifty dollars per hour of coaching. For corporates, fees ranging from a thousand to ten thousand dollars per month are likely to be charged. These are just likely costs when it comes to personal coaching.
Of course the cost you ultimately pay will depend upon your budget but it is important to remember that it is true that you often get just what you pay for. Therefore opting for a personal coach with the lower rates may not be the wise choice in the long run. Consider the experience, qualifications, and reputation of the personal coach and weigh that against your budget. It is also a good idea to shop around so you can compare prices so you can get a feel for what is average in your area.