Thank you to participants in our admittedly non-scientific survey of executive & business coach compensation and client retention. You can download the results here. n = 117 coaches. Note that these are "practicing coaches at large," and not primarily members of the Center for Executive Coaching.
Conclusions support the need for an emphasis on substance and impact in coach training, to keep clients longer and generate longer and higher-paying engagements.:
1. 60 percent of participants report that they keep clients for less than one year. This is a huge area for improvement for many coaches. That's because 24 percent of coaches keep clients for 3 years or longer. The large range of responses represents opportunity for the coaches who are not keeping clients as long.
2. 68 percent of coaching engagements are for less than $5,000. 85 percent are for less than $10,000. Meanwhile, approximately 8 percent of coaches earn $20,000 and up per engagement, with 3 percent earning $50,000 and up. There is an opportunity for more coaches to learn what it takes to enter these ranks.
3. Coaches also deliver their services through a variety of delivery methods (as we teach at the Center for Executive Coaching). Consulting and training top the list, surprisingly beating out the growing trend of group coaching. Other forms: assessment, facilitation, speaking, creating custom content, and retreats.
4. Coaches help clients in a variety of ways, and many coaches are missing out on the full range. Note that The Center for Executive Coaching offers a comprehensive toolkit of solutions you can offer clients, to keep them longer and address the range of their most pressing leadership problems.
Enjoy the slides!