Executive Coaching can range in cost: a recent report from The Conference Board (2012) discovered executive coaching rates range from $200 to over $600 per hour. The Harvard Business Review (2009) placed the median Executive Coach cost at $500/hour with a range of $200-3500 per hour.
Naturally several factors contribute to the cost:
- Services Offered
- Experience level of the Executive Coach
- Level of the Coachee within the Organization
What should you expect to pay?
Typically, the higher the level of the coachee, the higher the coaching rate. This is because the impact the coaching has on the business is significantly higher the higher the coachee’s level in the organization. In addition, working with C-level executives typically requires a more educated coach who is more in demand, and requires them to spend more time familiarizing themselves with various aspects of the client’s business. These executives also tend to be more limited in when they can meet with the coach, placing greater demands on the coach’s schedule and flexibility.
Executive Coaching engagements can range from three months to two years. For work on a specific area, a six to nine month engagement is typical. Often, executives find the outside ear and eye so valuable that they will look to extend the engagement on at least a limited basis to have regular access to the coach over a longer period.
Performing some type of assessment at the beginning of the engagement to get feedback on the executive is typical practice. These leadership assessments can range in style, purpose and cost, so be sure to ask the coaches you are considering using what the methodology is of their assessment to be sure it matches your needs. (At Arden Coaching we use either the Leadership Circle Profile tool which is a quantitative 360 degree leadership assessment, or a 360 series of interviews which gives us a qualitative perspective.) This information is then used by the client and Executive Coach to create a development plan for use during the coaching.
When you consider the cost of Executive Coaching, you will want to understand what the Return on Investment (ROI) is for that work. See more on that, see: ROI on Executive Coaching
Other related posts:
Cost of Executive Coaching