Thinking about taking a leadership class? Here we examine what your different options might cost.
If you want to advance in your career, leadership skills are going to be a fundamental asset. Even if you aren’t in a management role, it is important to be a trusted team member and respected by your co-workers if you are looking to be noticed at work. Leadership skills can help you stand out and be seen as a valuable member of your organization.
So how do you learn leadership skills? While anyone can delegate and assign tasks, to be a true leader, you need to be able to communicate and connect with others. And you probably didn’t learn how to do this in school.
Because of this gap, there are classes, books, and seminars you can try that will help you cultivate the leadership skills you need (like those outlined here by Business News Daily). While there are some low-cost options out there, other leadership training offers carry a more substantial price tag.
At MacklinConnection, the members of our leadership team have invested in many different types of leadership courses throughout their careers. We want you to know your options and what your investment might look like depending on what route you take to build leadership skills.
Here, we examine the cost of several different options for leadership training, including:
By knowing what you can be expected to spend, you can better prepare yourself to sign up for the right leadership skills program.
This is probably the most affordable option, as you can find many free resources to help with learning leadership skills. However, you will have to put in the time to find free articles and videos online or locate the right books at your library. Your employer might also have free resources like an online subscription to a leadership training module you can access. You can also find your own leadership skills training modules online for around $35/month.
If you are highly motivated, this is a good option. You will have to dedicate yourself to finding time to learn and practice the skills, but the financial investment is minimal.
The price of hiring a coach depends on who you are working with. The hourly rate for a life coach can range from $75-200/hour. If you are working with a coach for one hour each week, this can add up to $300-$800/month. If you want to work with an executive coach to develop leadership skills, you can expect to pay around $500/hour. This adds up $2,000 or more each month - if you meet weekly.
Hiring a coach can help you hone your leadership skills with real-life situations you encounter at work everyday. This is a more personalized approach than some of the bigger workshops or courses. You’ll also have someone to help keep you accountable for practicing what you are learning.
A leadership seminar can range from $1,500 for a weekend or $1k-2k a day for a multi-day workshop (like the Center for Creative Leadership program). Sometimes this will include fees like lodging and food, but, oftentimes, these are extra expenses you’ll need to factor in. If you have to travel to the seminar, you’ll also need to think about travel expenses like airfare or gas prices. So your $1,500 ticket price may double (or even triple) if you need to account for a hotel, plane tickets, rental cars, and food.
A leadership seminar can be a weekend-long conference or an immersive week-long leadership retreat. This is known as intensive or burst mode training as extensive information is shared over a short period of time.
The cost of a university-based leadership program is going to depend on several factors, including the institution you want to attend. For example, Wharton’s 9-12 month Executive Training program is around $20,000.
For a less intensive program, you can expect to pay between $1,500 to $5,000 at a local community college or university. These are not degree programs, and usually include several weeks to a month of classes in order to complete the training.
There are several factors that can impact the cost of leadership skills training.
Is the training customized or standard? A program that is designed just for you, like what one-on-one coaching offers, will usually cost more. It requires more time and effort to create an individual program than to offer a pre-established course. Therefore, you can expect to pay more if something is being tailored just for you.
Who is teaching? The experience of the instructor is going to play a role in how much you pay. The more credentials an instructor has, the higher the cost will be. Additionally, a program with a teacher present for every class is going to cost more than a pre-recorded program.
What is the length of the program? A class that is only a few hours will cost significantly less than a course that is several days long.
Where is the course held? An online training will usually cost less than in-person - if all other factors like length, depth of material, and instructor credentials are the same.
If you are going after a new promotion or want to be seen as a respected leader, you might be looking for ways to develop leadership skills. While there are lots of programs out there that can help you cultivate leadership skills, you’ll want to be aware of the cost of leadership training.
Aside from the different courses and seminars listed here, there are other options for you to build leadership skills, as well. At MacklinConnection, we offer a transformative workshop that will allow you to discover how to be a leader that others want to follow. We also offer executive coaching for a more tailored approach to leadership training.
If you are interested in learning more about our course, you might be interested in joining our online community to access even more content and connect with others. In our community, you can explore articles centered around sharing vulnerable, authentic stories to help you start to create the life you want. You can also access a library of courses and build connections with others who want to change the world one relationship at a time.