Executive Coach

Executive Coach Career Overview

An executive coach is someone who works specifically with a business executive to mold and shape day-to-day operations and increase the level of business success. Almost all big named companies have executive coaches on staff. In fact, according to Working Knowledge, IBM has over 60 executive coaches working in their ranks. Executive coaches analyze, organize, develop, and provide feedback to executive clients on how to solve professional issues and work towards a better business module.

Executive coaching, also called development coaching, is similar to a personal business consultant or a management analysis career. It is a relatively new field with limitless potential. In fact, the Bureau of Labor Statistics reports a wage and salary employment increase of an incredible 78 percent by 2016 in the field of executive coaching and other consulting sectors. This is by far the fastest growing industry in the United States.

Executive Coach Training and Education

The Bureau of Labor Statistics reports that of those people in executive coaching and consulting, 74% have a bachelor degree or higher. They also report that extensive education and experience will ensure you get the upper hand when it comes to becoming an executive coach. Because many executive coaches are self-employed and work on a contractual basis with large firms, you need to ensure you have the highest credentials and credibility to secure your position in the field.

Many colleges and universities offer an executive coaching degree, which is a relatively new degree created as a result of the huge demand in the field of management analysts. However, degrees and courses in business, psychology, sales, marketing, and finance will all be useful in this dynamic field. You will learn all aspects of the business world from motivational skills to web based marketing trends to financial budgeting to microeconomics.

Executive Coach Salary and Career Outlook

86% of all companies use executive coaches to help with their daily operations, as reported by Working Knowledge. What this means is that the future is looking extremely bright for those in the executive coaching field, or those who want to venture down this career path.

The Bureau of Labor Statistics reports an increase of 78.5% in salary and employment for management analysts by 2016. Other occupations similar to executive coaching, such as financial analysts and marketing and sales managers, can expect a 96.4% and 78.5% increase, respectively.

The Bureau of Labor Statistics estimates that an average hourly wage for those in the field pertaining to executive coaching was $32.72 in 2006, which equates to over $70,000 per year. However, keep in mind that it is possible to make even more than this with the right experience, education, and high paying executive clientele.

If you are one of those people who love the thrill of personal training and understand the dynamic world of business, then executive coaching may be the perfect career choice for you.

Characteristics of Successful Executive Coaches

In addition to obtaining a degree in executive coaching, you will need to have exceptional organizational skills. You will need to understand human psychology and be able to adapt this knowledge to the professional world. Executive coaches must be resourceful, motivated and driven to not only succeed, but to push their executive clients to success as well.

More and more companies will only hire executive coaches that have an MBA and the experience to really make a difference to their company as reported by the Bureau of Labor Statistics. Those with a master's degree can expect to make $250 per week more than those with a bachelor's degree which adds up to $13,000 per year, as reported by the US Department of Labor. This is a substantial difference, especially in an industry that is already considered to be one of the highest paying sectors in The United States.

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