Executive coaching is an estimated $3 billion a year global industry, with the median rate for a coach hovering around $500 an hour. And though revenue in the coaching field might be hurt this year by the coronavirus pandemic, it’s still been a busy time for executive coaches, as business leaders seek guidance on everything from managing layoffs to navigating racial issues at work to handling uncertainty.
As their clients tend to lead busy lives, many coaches have long offered virtual sessions. But with the pandemic, the shift to online coaching has been more deliberate—which comes with pros and cons—and has brought about some changes to their businesses.
Quartz checked in with executive coaches to see how they’re managing: