An executive coach works with high potential individuals on a one-on-one basis to help them achieve certain goals
Executive coaching programmes are now seeing a demand from professionals who want to get accredited and be a coach to fellow employees. Some even want to be independent coaches.
In an interaction with Moneycontrol, Rajat Garg, Director, International Coach Federation Global Board said that they are finding interest from individuals who want to be both full-time and as well as part-time coaches.
International Coach Federation (ICF) is one of the largest organisations in the world of professionally-trained coaches. ICF also accredits programmes that deliver coach-specific training. To be accredited, individuals are required to have a certain number of hours of coaching experience depending on the level of certification that they are looking for.
“Despite the fact that they are required to do additional hours in gaining coaching experience as well and complete the assessment, we have seen several working professionals opting for these programmes,” said Garg.
Explaining that the need for coaches has expanded beyond traditional sectors to even educational institutes, Garg said that there is a demand for qualified executive coaches. He added that now even colleges are seeking such coaches for their students.
Depending on the type of the assignment and the credentials of the coach, one with good work experience can earn between the average of Rs 30,000 and Rs 1 lakh for 3-4 sessions spread across 3-6 months. Further, international reputed coaches could seek upto Rs 1.5-3 lakh for 3-4 sessions that may last for 3-6 months. Longer associations, higher coaching credentials and experience might mean a higher pay.
An executive coach is one who works with senior leaders and high potentials of organisations to help them realise certain objectives including self realisation, goal setting and helping them realise their set goals.
Garg said that these one-to-one sessions are confidential. Though corporates sometimes may ask for inputs from the particular coach, he added that the coach is not obliged to share the information. There could be an initial contracting around what all information will be shared and how between the coach, the corporate and the client.
“Several organisations now also have their own employees working as executive coaches for the company. Due to this, these individuals are eager to get a proper certification to be an executive coach,” added Garg.
ICF offers three credentials: Associate, Professional and Master Certified Coach. These require anywhere from more than 100 hours to 2500 hours of coaching experience. Over and above this are the training hours put in to get the accreditation.Estimates suggest that India has less than 10,000 qualified coaches. The actual demand for coaches could be anywhere between 20,000 to 30,000 a year.