Is Hiring a Career Coach Worth It?

What if something costs you $10,000 but earns you $100,000 in return? Is it a good deal? The answer is -- maybe.

CNN Money asks if hiring a career coach is worth it or not. Here's a summary of their answer:

A good coach can be helpful if your job search is lagging or you're getting discouraged, Metzler says. Part of his or her job, after all, is to keep you on task. A coach may also make sense if you're transitioning to a new career, returning to the workforce, or trying to advance within a company, he says. In such cases, an outsider may help you focus your efforts and identify necessary skills.

But sessions average $161 an hour, according to the International Coach Federation trade group, and clients typically use three to six visits. So explore free options first. Most colleges offer their alumni gratis meetings, by phone or in-person, with the trained staffers in their career offices. Professional organizations also sometimes offer seminars to members.

So, their thinking is:

1. If you can get it for free and get the same result, that's better (of course.)

2. But if you can't get it for free or if you get a better result with a career coach, then it may be worth it.

Personally, I've never used a career coach and have had a good career. But could I have benefited from one? As you've all heard me say a million times, your career is your biggest financial asset. The difference between even a "good" career and a "great" one can be millions of dollars over a lifetime. In fact, if a career coach could simply help you gain an additional 1% in income every year, the total amount would be massive and it would be a no-brainer to hire one. But that's the rub -- can a career coach really get you an extra bump or is it an expense you don't need to incur.

What's your take on the issue -- worth it or not?

BTW, another option is to become a career coach and make money at it yourself. I've always thought I could do this and make a decent income at it.

Comments

[Crystal]

I don't see using a career coach for keeping myself on task or focusing, but I could totally see needing help identifying what my skills would be great for...I just have a really hard time thinking of a job I would enjoy and be great at that also pays more than volunteer work. I still don't know what I should be/want to be when I "grow up".

[Joshua Miller]

I love this question and thought it was worth chiming in as I have been a Certified Executive and Personal Coach for ten years and have a wealth (no pun intended) of experience working with individuals defining what they want and supporting them in the actions necessary to create it.

I always like to know more about the person and their current situation before taking on a client in need of career guidance. For starters, are they unemployed or employed? Do they have a job but in the wrong career or are in need of switching jobs in the same field or an entirely new field all together? These preliminary questions should be asked by any Certified Coach so as to better ascertain if they are the right coach for them and is coaching what they need at this time. Only once some initial curiosity is taken (from both sides) can one determine if coaching is the right next step for them.

As I mentioned, it's from both sides. There are many people out there and out of work these days claiming to be "coaches" and although they may have some (or a lot of) experience in some type of related field, they are not qualified to be calling themselves coaches. I have met numerous people with some HR or management experience but in my experience that doesn't necessarily mean they are career coaches let alone the right coach for you.

Anyone interested in hiring a career coach should do their homework first. Almost every Certified Coach I know and have met offer a complimentary coaching session so as to better ascertain who this person is, what they need and if it's a match. One should never hire a coach without speaking to them first and by all means ask for references. Any qualified and successful coach should have no problem offering up references.

At the end of the day, I believe the question worth asking yourself is really one of self-worth and value. I always ask people, "are you worth investing in yourself?". Oddly enough people tend to be thrown off by such a question but when you look at how people relate to themselves and more specifically their careers -- they (meaning we) all do some whacky stuff. Your career doesn't define you but is merely an aspect of your life. You get to say what you want and how it's going to go, the right coach can support you in making that happen!

Respectfully,

Joshua Miller

[Financial Samurai]

The answer to your first question is 100000% YES. It's simple math. People only deny the question when they think about other things.

I would spend $10,000 to earning $100,000 every day and would soon retire a multi-billionaire in the process.