Most life coaches are independent consultants who run their own businesses, charging an hourly rate for their services. According to PayScale, life coaches earned an average hourly rate of $49.36 (or about $102,669 annually) in 2024. Hourly rates ranged from as low as $19.45 to about $198.50 or more, which translates to salaries that ranged from $40,456 to $412,880 or higher.
Life coaches who are independent consultants are responsible for business expenses such as marketing and promotion, office overhead, tax payments, and insurance coverage. They may also hire assistants and staff, and be responsible for payroll, health insurance, and related expenses. Life coaches who are on staff with companies usually receive employment benefits such as pay raises, vacation and holidays, health insurance, and profit sharing.
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