Have you heard of ICF?
It stands for International Coaching Federation. Started in 1995, it is a non-profit organization dedicated to advancing the coaching profession globally.
ICF serves as an accreditation and credentialing body, working to establish professional standards and best practices for the coaching industry.
Given its lengthy history, it is often seen as the gold standard.
The ICF has not just grown; it has boomed.
With over 50,000 active members worldwide, a staggering 160% increase in the past decade, and more than 20,000 new members in just the last five years, the ICF’s influence is undeniable.
To put this into perspective, consider that NTUC membership, which offers grocery rebates, grew by only 30% from 2019 to 2022.
The coaching profession also experienced a significant 54% global growth between 2019 and 2022, surpassing 100,000 practitioners worldwide. A substantial portion of this increase was concentrated in Asia, the Middle East, Africa, and Eastern Europe.
The Allure of ICF Certification
- The Value of ICF Certification: An ICF certification is more than just a piece of paper. It’s a testament to your adherence to professional standards, ethics, and a comprehensive coaching framework. It’s a way to stand out in a crowded market and build trust with your clients. It’s a path to credibility and professionalism in the coaching industry.
- Increased Earning Potential: Studies show ICF-credentialed coaches tend to earn significantly more than their non-credentialed counterparts.
- Access to a Global Network: The ICF boasts a large global network of over 35,000 members in 140+ countries, providing networking opportunities.
- Continuous Professional Development: The ICF doesn’t just certify; it fosters constant learning and growth. It requires ongoing education to maintain credentials and keep coaches up-to-date with the latest trends and best practices. This commitment to learning and development can be a powerful motivator for those considering ICF certification.
- Industry Growth: The coaching industry’s rapid expansion and increased awareness drive more people to pursue ICF certification.
The ACTA Parallel
The proliferation of ICF coaches reminds this Gen X writer of a similar phenomenon that occurred in 2010 with the Advanced Certificate in Training and Assessment (ACTA) in Singapore.
The government subsidized many training programs adhering to the Workforce Skills Qualifications (WSQ) framework, making them attractive for individuals and companies.
Every training provider wanted a piece of the action, and one of the criteria was that trainers delivering WSQ programs needed to be ACTA certified.
This opened the floodgates for mid-career professionals seeking an escape from the corporate rat race.
While no official numbers exist, there are over 500 WSQ training providers.
Due to intense competition, providers started slashing prices, driving down trainer rates.
Similarly, many now view ICF coaching certification as a path to independence and a chance to escape corporate bureaucracy, fueled by the premise that coaching could be self-sustainable.
The Reality Check
According to the ICF’s 2023 report, the average Asian coach makes USD$33,900 annually while working less than 12 hours weekly.
This translates to an hourly rate of around USD$58.85.
However, in conversations with ICF coaches in my network, I realized that, for many, coaching is merely a side gig, with corporate training being their primary income source.
A friend pursuing ICF certification acknowledged that coaching would be a secondary pursuit, as the numbers only support it as a part-time endeavour.
Only one fellow student in his class remained convinced that coaching aligned with their “purpose” and could be a primary career path – a vision my friend promptly debunked with some back-of-the-napkin math.
The Competitive Landscape
While it’s true that the coaching industry is unregulated and the ICF lacks real authority, the value of ICF certification remains strong.
Many non-ICF-certified coaches compete for the same clientele, but the ICF’s rigorous standards and global recognition set ICF-certified coaches apart, providing a solid foundation for a successful coaching career.
I considered obtaining a credential when I started as a career coach in 2015. Still, I was persuaded against it by someone who argued that my recruitment experience and co-authored career guidebook provided more credibility than any paid certification.
Instead, I invested in SEO, securing the top search ranking for “Career Coaching Singapore,” which proved far more valuable than any credential.
The ICF Dream
Given the abovementioned realities, one must admire the ICF’s ability to sell the coaching dream. The real winner might be the ICF itself, thanks to the need for recertification and the 10 hours of required mentor coaching, creating a business opportunity for other coaches.
Once you’ve climbed the 100-hour certification wall, there’s too much at stake not to renew, akin to cult members’ inability to recognize the religion they’re entrenched in as a cult.
Whether seeking an escape from the rat race or a newfound mission, sustainability is key, especially in costly countries like Singapore. And you’ll need to do whatever it takes, marketing-wise, to rise above the noise and make your coaching business thrive.
Think Twice Before Betting Your Career on ICF Coaching
While the allure of the coaching profession is undeniable, it’s important to approach it with a clear understanding of the realities.
For most ICF-certified coaches, it’s a part-time gig or a side hustle at best.
The average income and hourly rates reveal the challenges – pursuing ICF coaching as a full-time career can be an uphill battle, especially in high-cost cities like Singapore.
Before you quit your day job and dive headfirst into ICF coaching, ask yourself this: Are you truly prepared to be one of the few who defy the odds and make it a sustainable full-time endeavour?
Can you invest the time, effort, and resources required to stand out in an oversaturated market flooded with ICF-certified and non-certified coaches?
If you must prepare to treat your coaching business like a full-time job, the chances of making it a viable primary career are slim.
The wiser approach is to view ICF coaching as a supplement to your existing income streams or a passion project rather than betting your entire career on it.
That way, you can pursue your coaching aspirations without the immense pressure of relying on it as your sole source of livelihood.
The choice is yours, but make it an informed one. Don’t let the allure of the “coaching dream” close your eyes to the harsh realities and potential pitfalls.
Tread carefully, do your due diligence, and approach ICF coaching with a realistic mindset and tempered expectations.
Remember, the path to success in any field is rarely a straight line, and the coaching world is no exception. Proceed with caution, and always have a contingency plan in place.
The last thing you want is to find yourself trapped in a coaching “cult” you can’t escape, with too much at stake to turn back.
