One of the first questions Clients want to know when they call our company is: How much does career coaching cost? Hiring a coach to accelerate their engineering career feels like a black box.
As every engineer understands, “It depends.” That said, I will do my best here to explain some general pricing guidelines.
Investing in a Career Coach is like investing in advanced education. With so many options available, price ranges vary. A lot.
Earning an engineering degree from a local college may cost $30k online. The same degree from a “top 10” engineering school may push $200k or more.
Both diplomas say engineering. So why celebrate admission to the top schools (and pay the extreme premium)? Because most people understand the importance of getting results the first time. They don’t want to live with regrets down the road. Engineers will leverage that diploma to build a great career. They want to make sure it provides the education, resources, and most importantly the NETWORK they desire.
These principles also apply to engineers who want help from a coach.
The benefits of building a successful career impact us every day of our life. Choosing the right coaching solution is critical to maximize results at work. Leaders must also balance their goals at home. Because of this, most engineers choose a solution that will make them happiest in the long run.
Unfortunately, some people only focus on the initial price of the coaching. Short term thinking is not effective to solve long term problems.
- They sacrifice deeper levels of transformation and growth.
- Quick fixes do not integrate work and life balance.
- Building habits of success is essential to make the changes permanent.
This leads to regret. Especially considering that coaching is not like a community college. They can’t transfer “coaching credits” to another school when dissatisfied and disenchanted.
How much does career coaching cost?
The average investment for engineering leaders like you who hire a coach ranges from $3k to $10k per engagement. There are many factors that influence the cost of hiring a coach (Career Coach, Life Coach, Leadership Coach, Performance Coach or similar professional development service provider).
- Live coaching frequency & duration
- Format of live coaching (1-on-1 or group)
- Face to face (vs online)
- Access to your coach
- Screening, tests, or evaluations provided
- Coaching feedback on assignments
- Online modules provided
- Customization
- Executive, middle management, or entry level
- Proven track record of results
- Generic vs. specific career expertise
- Exclusive network of peers
- Many others…
As you can see, there are many factors and the value of each varies. Don’t worry, we’ll help you make sense of what you’ll find in the career coaching industry. There are four main categories. This will help you understand how much career coaching solutions cost.
Price for Live Coaching Service Providers
The most common live coaching services in the industry fall into this category. Pricing is typically charged by the hour, with price points between $60 to $600 per hour. This wide range is because of the broad scope of expertise, and limited access to the best coaches. Most coaches fall between $100 to $250 per hour. Price points $400+ is where you find Executive Coaching and niche-specific expertise.
You will also find basic services packaged as “products.” These include resume critique, LinkedIn profile review, mock-interviews, and more. You can even find fashion advice for a keynote presentation (who knew?). These products are priced at a flat rate and vary.
The attraction to hourly providers is the low up-front cost. It also allows you to pick from a menu where you want help. If you have one question, or only need tactical help with a system like LinkedIn, this is a great solution.
But, there are many limitations to this form of coaching for reaching the next level. Simply put, these services are often like putting a band-aid on a broken leg. Over time the costs add up, and you may never solve the root cause of your problem, which is YOU!
Price for Online Coaching Courses
There are thousands of providers for online learning. The appeal is obvious, the coach doesn’t have to be on the phone with you for 100 hours to give you 100 hours of content. You have 24/7 access and total flexibility. This is a great solution for continuous learning and training.
Pricing for online personal development and career growth courses range from $95 to $1,995 and up (sky is the limit). Many services offer a subscription model. For example LinkedIn Learning, and one of my personal favorites, Masterclass. These tools give ongoing access to more learning than you can digest in a lifetime for a small monthly fee.
This benefit is also the exact reason most people are wasting their time and money signing up. If you feel stuck, frustrated, or burned out in your career, your problem is not access to knowledge. Learning more can actually be your mortal enemy.
Your problem is that you need to take new actions, if you want new results. It’s easy to get addicted to learning and call it action. The truth is in reality, you are going nowhere.
Price for Transformational Results Coaching Programs
Are you ready for the next level in your career, but don’t know how to get there? Then a Transformational Results Coaching Program is the best approach. I name them “Transformational Results” because programs like this leverage all the modalities of adult learning and development to accelerate growth: self-paced online learning portals, group coaching access, 1-on-1 support, communities of like-minded professionals to collaborate with, and sometimes more. The investment for 60-90 day programs typically ranges anywhere from $3k to $9k, and 12 month programs typically $12k and up.
What does “transformational” mean? Think of it this way. Instead of a tune up for your old car, you replace the engine. Instead of new software for your computer, you upgrade the processor. But I’ll warn you now, these types of programs are not for people who dabble. You must be willing to show up and do the work.
Real change in your results comes from transforming your psychology, not your mechanics. Becoming a new and better version of yourself requires IMMERSION. This means action, feedback, personalized coaching, and accountability. While the up-front investment is higher, the long term ROI is far greater.
Price for Mastermind Groups
Joining a Mastermind is unique from hiring a coach in many ways. This can be a powerful part of your career building strategy. Based on the members and goals of the group, Mastermind investments range from $5k to $25k and up. Certain exclusive groups exceed $50k to join and are invitation-only. The time commitment is usually six to twelve months, with scheduled meetings and events.
Coaches often lead Mastermind Groups in their career or business niche. Talk to your Coach and see what is available.
Why join a Mastermind? Because proximity is power. Who you spend time with is a proven predictor of your success. Leaders at the highest level know that is true. They invest heavily in themselves to be in proximity to other successful leaders. Engineers too often miss this opportunity because the ROI is intangible and long-term. The truth is, it only takes one key moment to turn a $12k Mastermind investment into a $120k opportunity.
So, how much does career coaching cost?
There is no upper limit. That’s because YOU have no upper limit! In summary, if all you need is a resume polished or similar, then you will find great services for less than $1k. If you’re looking for growth and breakthrough, plan to invest between $3k to $9k for a transformational program.
What does OACO offer?
Zach White and the team at Oasis of Courage specialize in Transformational Results Coaching Programs. We also lead an exclusive Mastermind Group that is invitation-only for engineering leaders who have completed one of our coaching programs. The Lifestyle Engineering Blueprint is a proven system of success for building your career while balancing your life, and is the basis of our programs.
Are you ready to talk with us about your career, and exactly how to reach the next level? Your next step is simple.
Book a FREE Engineering Leadership and Career Growth Audit with us using this link.
We will dig into where you are at currently, and help identify the barriers between you and your career goals.
It’s totally FREE, and totally worth it. Let’s do this.