Despite some setbacks that affected all industries in 2020 thanks to the COVID-19 pandemic, the coaching field is poised for a return in 2021. With new vaccines underway, you can expect that life will return to a more normal state over the course of the year. This means for 2020-2021; there will be a rise in positive trends for the coaching industry.
Whether the specialty is life, business, career, executive, or health, coaching is expected to grow. For example, The International Coach Federation expects the number of full-time life coaches in the US to be around 17,000. The business coaching profession is even larger; an industry estimated to be over $11 billion. For those interested in the coaching profession, the trends look good for a profitable career in this field.
Average Annual Income
This part is largely unaffected by the coaching industry trends in 2021. However, you can influence your average income depending on the coaching niche you go after. For example, the average pay for those who specialize in life coaching in the US is $61,900 per year. The amount will vary depending on the specialty, where you live, and the level of experience you have garnered.
The most profitable coaching niches start with executive coaching, which earns $98,000 on average, followed by life, business, career, marketing, and health. Executive coaching is also one of the most specialized, requiring both training and experience above most other coaching fields, but the salary can be considerable for those who are dedicated.
Popular Coaching Industry Trends in 2021 and Beyond
Several trends are gathering strength and may grow significantly throughout 2021. What follows are the ones that seem most promising for life coaches and those who specialize in other fields.
Matchmaking is where the right combination of coach and client are made. Matchmaking has become more popular because it avoids the personality conflicts and potential misunderstandings between coaches and their clients.
More Coaching Niches
With coaching divided into life, business, and career, there will be even more divisions in the coaching field. Specialized niches for specific jobs and situations are rising steadily. From quitting smoking to particular occupations, the demand is growing for coaches who can specialize in smaller niches.
Outcome-based solutions refer to coaching with the end results in mind. Instead of shaping the client, the client receives the information needed to make the proper changes in the shortest amount of time. With time itself being a premium, outcome-based coaching is rising significantly as clients want results quickly.
The restrictions imposed by the pandemic has led to many industries turning to live streaming to conduct conversations, lectures, and discussions. For the coaching industry, the virtual platform will continue to grow exponentially. With new technology combined with coaching programs that students can do on their own, this is arguably the most significant trend for the foreseeable future.
Other Coaching Industry Trends Impacting You In 2021
Finally, there will be more reliance on automation in the coaching field. Automation here refers to handling the non-coaching aspectsof marketing, invoicing, and other areas that help your coaching business grow.
These are the popular trends in the coaching industry for 2021. They will grow as more people seek sound advice and guidance for their lives, careers, and businesses.