The Rewards of Being a Coach
Why is coaching as a profession on an upward trend? According to 2016 ICF Global Coaching Study based on 2015 data, there are approximately 53,300 professional coach practitioners worldwide. This is a 10.13% increase from the 2011 figure despite the recent global economic downtrend. Currently, 90% of these have active clients — an increase from 87% in 2012. The estimated global total revenue from coaching in 2015 was $2.356 billion USD, representing a 19% increase over the 2011 estimate. These figures indicate that more people are getting interested in professional coaching and are staying in it. Why?
A survey made by the American Psychological Association reveal that the top 4 reasons why people stay in their jobs are: 1. They enjoy what they are doing (67%). 2. It fits well with the other areas in their lives (67%). 3. They are satisfied with the benefits (60%). 4. The income (59%).
Well, these are also the very reasons why coaches stick it out in this profession. Although this field is not free of challenges and has its own limitations, coaches consider coaching a very rewarding job. For them, it gives them life-enhancing benefits that go beyond monetary remunerations.
What exactly do we mean when we say coaching is a rewarding job? The Thesaurus has several word synonymous to “rewarding.” Out of them are the following words that aptly define for us the rewards of coaching: SATISFYING, EDIFYING, GAINFUL, ADVANTAGEOUS, PROFITABLE. Let’s take a closer at why these words best describe the rewarding nature of this profession.
If you are true to your calling as a professional coach, you would want to make a difference in this world by helping people be the best that they can be — one person at a time. Nothing can satisfy you more than being able to make a significant and positive difference in a person’s life. Helping people see a better future for themselves and empowering them to turn this vision into a reality increase your self-worth and produce in you a deep-seated satisfaction.
Walking alongside people who are bent on achieving their goals and on becoming better managers of their lives is also like having your own personal journey with a real sense of purpose. As you make things clear for them and as you inspire them to change, you are also indirectly inspiring yourself to reach for higher things in life.
According to neuroscience if you love what you do, such as helping people be what they want to be, you are neuro-physiologically rewarded with a great sense of satisfaction and happiness – in other words, you get fulfillment in life.
Unlike a typical 9 to 5 job, professional coaching ushers you into a personal journey of growth. Every coaching encounter is an opportunity, not only for your client butfor you also to learn valuable lessons in life. Your clients’ stories will open your mind up to the realities of life from the earthly science to the spiritual realm. Consequently, your heart and mind will become receptive to viewing life from different perspectives, arming you with empowering life skills that will help you face your own battles.
Getting to know your client ushers you into a deeper sense of self and even self-awakening. According to a neuropsychology research listening to the clients’ stories induces the mind to process what can and cannot be done. This neural activity motivates people to act more admirably or compassionately.
Your connection with your client is intrinsically motivating. This connection is a relationship built on trust that produces cooperation between you and your client. Without this, there is nothing on which to build your coach-coachee relationship. Neuroscience has discovered that when we trust and are trusted, we are more likely to be generous to others.
Since you work within a time frame with your client, you have to keep pace with learning on a fast track. This kind of environment accelerates personal growth as you and your client learn from each other. Since you have to listen intently in a situation bounded by time, your brain is spurred to think deep and fast, causing you to be mentally and emotionally invigorated and rejuvenated.
Whether you’re in a personal business or working for an organisation your success is proportional to your capacity to network personally or professionally. Working in a coaching community, where coaches interact cooperatively and collaboratively, expands your network. This ideal setting enriches and widens your personal and professional relationships. You can further increase your capacity to connect with even larger groups through the use of social media. In this technology-driven age, the larger and stronger your professional and personal network, the higher the probability of your success as a professional.
As you reach the higher level of professional coaching, numerous opportunities and more avenues for further development and exposure will be opened for you. From local exposure you can work yourself up the ladder and possibly gain not only a national, but also an international following. Who knows, you may also, eventually, find yourself writing a book, speaking in front of a big crowd, conducting trainings and tele-courses, and so many other possibilities.
Switching jobs specially to that of another field is one crucial decision we have to make in life. In this decision, you have to factor in your age and economic status. One good thing about professional coaching is the flexibility of its training program. Although coach training can be as short as 6 to 9 months or as long as three years, it can be adjusted to your chosen pace and to your circumstance. With this flexibility, you can still support yourself financially for you don’t have to take three years off or quit your 9-5 job. Furthermore, the requirement for trainees to coach while they learn and learn while they coach can also be a source of income. Although you may have to do this for free, oftentimes, you get to be compensated. In this way, you can build your business up even while you are still employed.
Eventually, your profession as a certified coach will usher you into a working environment that will make your life more fulfilling as you are given the freedom to design your job consistent with your values and desires. Here, space and time are flexible boundaries within which you control your own schedule and choose your working mode and space. With the help of internet technology, you can conduct coaching within the comforts of your home or even while travelling. Such flexibility gives you the capacity to order your life in such a way as to create a life-giving balance consistent with who you are.
Because of its flexibility, there are many coaches who, in as short as six months, have earned while training without leaving work. In fact, you can easily get into a coaching business without a large overhead and the return can be immediate.
In private practice, coaches charge an average of $130. This is from the range of $100 to $300 per hour. But if your coaching is effective, you can shorten the time to 30 minutes with the same rate as your hourly session. If you reach the level of an experienced coach you can earn an average of $350 per hour – the international standard). This means that if you work with two coachees for two hours a month you can earn an additional $1,400 per month to support your family and lifestyle. The usual number of sessions is from 2-4 for a minimum of 3-6 months through phone or in person.
Considerable research on the ROI (Return on Investment) of executive coaching has found that the initial investment in coaching has returned 5-7 times in performance benefits and organisational profitability. This proves professional coaching is a rewarding business and will continue to be in demand.
As in any other profession, professional coaching is not exempt from discouraging challenges or obstacles that need to be hurdled. Nonetheless many coaches have already decided to stick with it and many more are deciding to pursue coaching as a career because of the life-changing rewards available to those who put their heart in it. They have found that coaching people to live better and more fulfilling lives is the kind of job that brings them closer to themselves and to humanity.