Hi there,

Great questions!

1) I'm quite curious about why does the price differ so much between different coaches? 

I think Pedro presented some very good points. The key driver for most coaches is probably supply and demand. If a coach has limited availability and a lot of demand compared to that availability, the price will likely go up.

A related question is what could drive the demand and that’s most likely related to the likelihood you could get an offer with that coach compared to not having done the coaching.

2) Is a $400-$500 USD / session really worthwhile and could be a game changer in recruitment?

It can be a very good ROI if the coach can show track record of increasing your chances to get an offer. Say that you have an ok preparation and can get an offer from a Tier 2 but possibly not an MBB offer. Having MBB in your CV will most likely be worth the investment of several sessions. That makes sense though if you can be realistically sure the coaching is effective.

3) Another question I have is how to utilize coaching sessions. Is it suggested to take coaching sessions once in a while to work on weakness parts, or is it better to take coaching sessions every week to have regularly practice case interviews with the coach?

It depends on the way the coach structures the classes. When I do my program, I recommend to do sessions 1 to 4 at your earliest convenience as this allows to build the foundation to also practice on your own, reach a good level to work with the other candidates I connect you with and practice with the course material before the last session. If you want you can find more on that at the link below:

https://u.preplounge.com/63phuq

Best,

Francesco

I haven't been in the platform for long, but this is my perception:

• Different approaches. Many coaches just provide a mock case and feedback. Good if you want to experience the feeling of a real interview and know where to improve. Other coaches use a mentoring approach, where they explain in detail during the session how to improve, may give longer sessions, and may even be available to answer your questions outside coaching sessions. This is obviously a more time consuming and value-add approach, and only experienced coaches can do this well. 
• Experience: There is a difference based on how senior coaches were when working in consulting, how long they stayed, and whether they were recruiters or not. You'd expect to pay more for an ex-manager with 5 years experience who was part of the recruiting team vs. a 2 year analyst who wasn't.
• Track record: some coaches are new in the platform, others have already built their reputation. A coach may have a lot of experience, but if (s)he is recent in the platform it will be hard to charge very high fees.
• Pricing strategy: a coach may not have a lot of time (e.g. booked with many sessions, very busy doing consulting work) and may only want a few high paid sessions; others may want to have a low price to have a higher allocation (or build their track record, see point above).

If you are cusious about my case, I use a mentoring approach, my sessions usually go over 90 mins, I answer questions outside sessions, I am an ex-Principal with 9 years consulting experience working for 3 different companies (Bain, EY-Parthenon, Roland Berger). I've had many coaching sessions during weekends and at 11pm. So howcome do I only charge €149/159? Simple: I am new in the platform (active for 2 months now) and trying to build track record. My price will go up as I build that track record.

(editiert)

Very good questions and thanks for raising.

Difficult to give a sharp answer on pricing structure. Safe to say that coaches set a price they believe is fair to what value they can offer, how popular they are , what candidates are willing to pay & their judgement to provide affordable coaching. Just like real world products you will have the premium, mid market etc curve :).

Regarding how best to use a coach, think of it like this:

Just like you use GPS/maps to get to your destination, you can use a coach :). You still have to drive and show good skills that way. The GPS alone cant guarantee that you will get to your destination. So, this really depends on your preparation and circumstances but you can certainly work out a plan & deal with a coach of your choice and do intense focused sessions or spread over a period of time.

Feel free to talk to the coach (s), look at their reviews, replies on Q&A forum, ask them tough questions before finalising. Rely on your instincts too and dont just go by popular choice or what is claimed. You will feel a connection with the right coach. No coach can gurantee that you will get the job but a good one can help you get there. I am available for that chat if you wish to discuss your preparation. Feel free to message me. I dont say Yes to every candidate/coaching session (nor do I reply to every question on the Q&A forum) as there must be a mutual fit- it works both ways.

Why prices differ? Market forces. Supply & demand. Coach's preference. Coach's willingness.

Can it be worthwhile? All coaches here have been through the both - the rigor of interview prep, and the rigor of real consulting experience. They have seen both sides of the table and can give better feedback for improvement than peer practice. A selection cannot always be guaranteed because it ultimately depends on your performance in the interview during which the coach is obviously not present. But yes, a coaching session can generally be worthwhile.

How to utilize the sessions? Speak to the coach and plan your sessions properly. Each person has a highly customized set of requirements. For example, on a particular day I had 3 coachee sessions - 1 was a fresher at b-school, 1 was applying in a corporate strategy role, and 1 was applying to consulting after 15 years of experience. All of them had completely different requirements.

Hi there,

It's your call as to whether this is a product you want to shop cheap on or not! Some products involve immense value differences (like cars), while others do not (bottled water). What market do you think we're in? :)

When I first started as a coach I wasn't very good - I really didn't know what I was doing! I would just read a case, provide some feedback and that's it. I cost $200/hour then.

Since then, I've created hours and hours of complementary content that replace sessions. Then, I focus my sessions of truly teaching and adding as much value as I possibly can. (For example, instead of spending 15 minutes going through how to setup your casing template, and 45 minutes going through the different frameworks and how to think about them, I've turned those into videos and pdfs that you watch offline!)

I truly try to “outsource myself”. As a result, one session of mine now is genuinely worth what 4 sessions prior were.

Yes, higher priced coaches are priced higher for a reason. Up to you to do the calculus on value there :)

The answer is simple: 
1) experience with coaching
2) more importantly: consulting experience and seniority. 
Many coaches on this website only have 2-3 years of consulting experience, without a lot of real interviewing experience. You pay for that difference in experience and knowledge. It is the difference between learning a couple of tricks vs getting true change.