If we talk about executive coaching prices, you will find that there is no particular amount fix for it. The prices of executive coaching are pretty flexible. Also, it depends upon the type of institution from which you are acquiring the coaching.
Various reports may tell you about the prices of executive coaching. Forex, according to the conference board, the cost of receiving the executive coaching may range up to $ 650.
On the other hand, for the same case, you may have to pay up to $ 3500 for receiving the executive coaching according to the data of review carried out by Harvard business council. According to the stats provided by Harvard Business, an average rate of an hour is around $550.
There are so many different reasons for this fluctuation of prices such as –
- The type and quality of services and facilities provided by the institute,
- The expertise and proficiency in the teaching,
- Quality of teachers or coaches of an institution
What Expenses Do You Tend to Pay Them?
Generally, the pay scales of different institutions are different, and it depends upon the quality and expertise of their respective coaches.
Usually, if teachers’ standard is higher, you need to pay higher expenses. But, if the teachers are not professional, your expenses will not be so high.
If the coaches are of higher standards, then their clients will receive excellent and superior knowledge than others so that you can imagine a coach’s importance in the business world.
The coach also requires the higher executives to be professional in their work to work with an MD or CEO of any company. Only professionals are required.
There are various business ideas and recommendations required to offer from an executive coach to the company’s supreme body.
So, you can imagine the importance and impact of one thought or direction that a coach has shown to an executive. They require to keep their client accounts with all their business deals.
The c-level executives are very busy and have a very tight schedule, so managing the time and giving him proper attention is also mandatory.
The Period of Getting Executive Coaching?
There is no time-bounded professional course of receiving the executive coaching. It depends upon the type of institution and upon the time spent by an individual in receiving the coaching.
It usually varies from two months to two years. The time also depends on the type of coaching you are receiving. If you are working on some specific course, you can complete it within nine months.
Also, some executives always want to keep their coach active for the maximum time they can. Many times, with the change in the market demands, you need to upgrade yourself. You always need to show positive growth in the market to stand firm.
Usually, the coach will assign you various tasks and challenges to identify yourself at the coaching stage. Before recommending any training, the company always asks them about their programs and activities that they will conduct within the coaching period.
It usually depends on the coaches’ pay scale and proficiency. According to the assessment results, a coach judges you and trains you according to the requirements.
When selecting the coach, always remember that this is your one-time investment, and in the future, you will get it back with interest, so always try to select the best coach.
There are various factors on which the cost of an executive coaching depends such as –
The expertise and proficiency level of the coaches:
Expertise and experience are the most critical factors that you should consider in mind while selecting a coach for your company’s leader.
You must ensure that the person assigned as an executive coach must have registered by ICF (International Coach Federation). Also, there are many more reasons, such as the time duration of their teaching, the people they have taught, etc.
There are various options available for you to select coaches. The coaches who are entirely new and want to establish their identity in the market will be available at a cheaper cost than those who have a robust identity and are highly recommended by others.
New coaches may charge you up to $ 300 for an hour, while an experienced coach may charge up to $ 100000 for an hour. If I tell you about Arden academy’s prices, you will be surprised to know that they provide quality coaches at significantly lower prices.
They usually focus on their clients’ satisfaction and always try to afford certified coaches at minimal expenses.
In their institution, you can get the best coaches at meager prices, and their prices are not fluctuating like other institutions. They treat every institution equally, either it is big or small.
Unlike other institutions, they do not tend to charge higher for more prominent institutions and try to cheat. Here you can get the best facilities at significantly less cost.
In a coach, what you want is its experience, capability to deal with a critical situation. To develop the leadership qualities effectively, cheaper, he must be registered by the ICF.
So all of your needs are fulfilled by their academy. You can rely on them once you have signed their coach.
Intensity of coaches:
Different companies have different ways of how they treat their clients. Various assessments have been conducted by various companies based on their pay scale and proficiency level of the coaches.
That’s why based on the activities and assessment, the pay scale is determined. According to my suggestion, you must prefer to select a coaching period of at least six months.
What Type of People Should Receive Executive Coaching?
There are so many different ways of hiring an executive coach. Nowadays, most probably company used to hire an executive coach for its professionals to grow and expand their business by providing business skills to their staff.
But on the other hand, an individual can also hire an executive coach for himself. Usually, a person who has recently entered into the business world or finding it challenging to promote himself in the institute or uplifting his own business can hire an executive coach.
If a company appoints them to an individual, they are funded by the institution, but you need to pay them if assigned privately.
Do You Have Benefits After Getting Executive Coaching?
To be a successful businessman, you need to develop various qualities in you, and an executive coach indulges these qualities through different activities and programs.
Suppose you have vital communication skills and decision-making to reach the zenith of your business. But to gain excellent skills, you need to show strong commitment towards your coaching, and you need to have faith in your coach.
Also Read: What Is CEO Coaching And Why It Works?
Frequently Asked Questions (FAQs)
What is the going rate for executive coaching?
When you hire an executive coach for your company, you can expect $100 to $500 per hour.
Is executive coaching worth it?
Yes, it works wonders for your companies management and organizational behavior and improves the performance of the executives.
It is essential to take executive coaching. There are coaching available at different prices. It is not necessary that every costly coaching is excellent.
Some may fool you, and to avoid that, I have shared this post with you all. I have mentioned everything you should know regarding their costs to make an informed decision.