Tuesday March 20, 2012
Career Coaches: Worth the Investment?
In the current state of our economy, more than 15 million people are unemployed. That's 15 million people who are all looking for a little help, whether it's in the job search, writing a résumé, interview advice, networking or even finding a new career path.
Many times, people who need job-search help enlist a professional. Career coaches and counselors are usually certified professionals who focus on career exploration or choice, changing career paths or helping you beef up your résumé and perfect your interview skills.
In the 2009 International Coaching Federation Global Coaching Client Study, 15 percent of coaching clients said career opportunities are the most important reason to enlist a coach, compared with business management (14 percent) and self-esteem or self-confidence (13 percent).
The study, which included input from more than 2,000 coaching clients in 64 countries, also cited more than 80 percent of respondents indicating a positive change in areas such as interpersonal skills, work performance and team effectiveness.
While career coaches can definitely be a useful resource, good advice doesn't come cheap. In a 2007 study by the coaching federation, which focused on coaches rather than clients, the average fee for a career coaching session was $161 per hour. Depending on your financial situation and employment status, considering you're likely to want more than one session, that's a hefty investment.
Is it worth it?
It wasn't for Nick Pitarys, owner of the Arizona Cheesecake Co. Pitarys says that he was extremely disappointed with his experience in hiring a career coach and that it was definitely not worth the money.
"After an $8,200 investment and the entire 12-month period, I had nothing to show for it," he says. "My adviser -- also the owner -- had way too many clients to satisfy, and thus the effort she applied to me was less than substantial."
But there are two sides to every story. Although some people think their investment in a career coach was a waste of money, others think it was money well-spent.
Sixty-eight percent of individuals surveyed indicated that they had at least made back their initial investment in coaching in increased earnings from personal salaries or investments, or through increased savings through debt reduction, according to the coaching foundation study, which was conducted by Association Resource Centre and PricewaterhouseCoopers.
Here are just a few testimonials from people who thought their career coaches were worth the investment:
"My career coach was most definitely worth the investment. I am an educator with absolutely no business background or experience. She helped me parlay the skills I do have into a successful side business that has grown at a manageable pace. I feel very in-control of the business growth and am able to balance the two jobs with my life, which is a priority for me. My coach provided a calm voice when, internally, I was going a bit crazy. I eagerly anticipated our sessions because I knew I would leave with concrete actions that would assuredly promise success. We could ALL use a coach!" -- Laura Glaser, executive director, Austin Food Scout
"I hired a coach about nine months before I was laid off and it was the best thing I ever did. What I learned about myself was that I was more passionate about starting my own business instead of staying where I was. I never believed I would be laid off -- I always had great performance reviews and won the top award at the company a few months prior -- but I was. I was also very prepared. Two weeks prior to the layoff announcement I had just given my Web site team the verbal OK. All is well and I couldn't be happier." -- Thomasina Tafur, owner, Thomasina Tafur, a consulting company
"I used a career coach about eight years ago while I was trying to figure out how to continue my career after having two children and being ready to get back to work. The career-coach experience was great for me, in particular where I realized that some aspects of my career to date did not excite me the way other parts of it did. The four sessions ($300/each) helped me to really understand how I wanted to define the next part of my career. I went back in a previous direction with more confidence. I now understood how teaching excited me and how I could teach using some of my newly acquired expertise, and not just go into a traditional classroom. It helped me bring great enthusiasm to the work I've chosen for the last eight years. I'm convinced that this subtle 'ah-ha' moment made all the difference for me." -- Kate McCauley, MEd, MSW, founder of Key Concepts, a drug and alcohol use prevention program
If you want to try enlisting a career coach, Miriam Reiss, a career coach, offers these five tips:
1. Choose wisely
2. Mass solutions won't work
3. The difference is in the numbers
4. Look out for 'fast' promises
5. Take advantage of sample sessions and don't overshop