Table of contents
Conducting Coachings
1. How do I set up my profile?
After signing up as a coach on PrepLounge, you need to complete your profile by either uploading a current CV or sharing your LinkedIn profile link. In addition, you must agree to the Terms and Conditions for coaches.
Please note that to be accepted as a coach, you need at least 1 year of full-time professional experience at a top consulting firm (preferably MBB) or a top finance company. Internships do not count toward this requirement.
Once we review your application, we will inform you whether you have been accepted. If approved, your profile will be visible to candidates in the PrepLounge community.
2. How do I schedule meetings with candidates on PrepLounge?
As a coach, you can be booked via the coach listing. Candidates may send you messages or meeting invitations, which you will receive both on the platform and via email notifications.
You can:
- Accept or decline meeting requests
- Suggest alternative time slots
- Coordinate a suitable time directly with the candidate via chat and then send an invitation
- Reschedule proposed meetings if needed
Please make sure to respond to all requests, even if you are unavailable, so candidates can plan accordingly.
Once you confirm an invitation, wait for the payment to be completed.
IMPORTANT: Do not conduct a meeting unless the payment has been confirmed. Also, do not conduct sessions that have been cancelled or marked as no-shows, as you will not be paid in these cases.
3. How do I get to the meeting room?
At the scheduled time, simply log in to PrepLounge and navigate to the “Coaching” section.
There you will find:
- Open invitations
- Upcoming meetings
- Past meetings
Click “Start” to enter the meeting room.
You are welcome to use the PrepLounge meeting room, which offers helpful features and is easy for candidates to use. Alternatively, you may use your own tools such as Zoom, Microsoft Teams, or Google Meet. In that case, please make sure to share the meeting link with the candidate in advance.
4. Can I invite candidates directly to a meeting?
Yes, you can invite candidates directly via the candidate listing. You will need to wait until the candidate accepts your invitation.
You also have the option to:
- Offer free coaching sessions (each coach has 3 free sessions available)
- Invite candidates to a free intro call
An intro call typically lasts 15 minutes and is intended to get to know each other and align expectations. It should not be used as a mini coaching session.
5. How do I conclude the meeting?
After the session, please click the “Finish Meeting” button. This ensures that:
- The meeting is properly recorded
- Feedback and reviews are saved
6. How does the calendar/the availabilities on my profile work and how can I edit it?
Use your calendar to indicate your preferred coaching times. You can set general availability in your profile settings under the “Availability” tab.
Additionally, you can:
- Mark vacations or periods of absence
- Set an absence note that candidates will see when they message you
The Payment Procedure
1. Can I choose how much I want to earn per meeting?
Yes. You can set your own meeting price in your profile settings.
Please note:
- PrepLounge charges a 33% commission on the net price (i.e. after VAT is deducted).
- There is a minimum and maximum price range within which you can set your rate.
2. Why is VAT being charged for my meetings?
Example 1 (Germany):
If your coachee lives in Germany and your meeting price is €299, your payout will be:
€299 / (1 + 19%) × 0.67 = €168.34
Example 2 (US):
If your coachee lives in the US and your meeting price is $199, your payout will be:
$199 × 0.67 = $133.33
3. What is the minimum price for a meeting?
The minimum price is $ 139 per meeting for all coaches.
You can increase your price depending on your:
- Seniority in consulting
- Coaching experience
You can adjust your price anytime using the price slider in your profile settings.
4. Is it possible to grant discounts to selected users?
Yes. You can use the Coupon Manager in your Promotion section to create discount codes.
Please note:
- You can generate up to 10 coupons per month
- Each coupon can be used once
- Coupons are valid for 7 days
- The discount is applied to the gross price
Example:
If your coachee lives in the US, your meeting price is $199, and you offer a 50% discount:
(0.5 × $199) × 0.67 = $66.67
5. How and when do I receive my compensation?
To receive your payment, you must issue an invoice each month.
Key points:
- The earliest you can issue an invoice is the first day of the following month
- The latest is March 31st of the following calendar year
- You can create your invoice in the Accounting section
Before issuing invoices, make sure you have added:
- Your bank account or PayPal details
- Your billing address
Payments will be transferred to your account within two weeks after the invoice date, minus the platform commission.
Session Guidelines
1. What can I do to attract my first customers?
As a new coach, you will find several to-do boxes on your home screen. These guide you through the platform and help you get familiar with all relevant features. In the Promotion section, you will find additional tools to support your visibility.
To attract your first customers, it is important to actively participate in the community:
- Answer questions in PrepLounge’s Consulting Q&A to increase your visibility
- Position yourself as an expert by sharing valuable insights
- Engage with potential coachees early on
As a new coach, you can also offer up to 3 free coaching sessions. Simply activate the respective checkbox when sending an invitation.
2. How do I keep candidates as recurring customers?
The key to retaining clients is to understand and meet their expectations.
Before the session:
- Clarify what the candidate wants (e.g. full mock interview vs. case focus vs. personal fit)
During coaching:
- Starting with a more challenging case can help identify weaknesses early
- This allows you to structure follow-up sessions more effectively
A tailored and structured approach will increase the likelihood that candidates book additional sessions with you.
3. Do I have to use PrepLounge cases?
No. Most coaches use their own case materials for coaching sessions.
4. What information should I ask the candidate?
It is helpful to understand:
- Which companies the candidate is applying to
- What interview stage they are in
Please note:
You must not share or pass on any personal information about candidates without explicit consent from PrepLounge.
5. How can I become a part of Premium + Coaching?
You can join the Premium + Coaching program, which is especially beneficial for new coaches.
More information, as well as the option to join or leave the program, can be found in the Coaching Products section of your profile.
Cautionary Advice
1. Can I conduct meetings outside of PrepLounge?
PrepLounge does not allow coaching sessions that bypass the platform.
In-person meetings are permitted only if the payment is processed via PrepLounge.
If PrepLounge detects unauthorized transactions outside the platform, it reserves the right to:
- Withhold payments
- Issue fines of up to $3,000
- Suspend or terminate your account
2. Am I allowed to be a coach on PrepLounge while still being employed?
This depends on your employer. You are responsible for ensuring that you are allowed to offer coaching services alongside your employment.
3. What information can I share with my coachees?
You may be subject to confidentiality obligations from your current or previous employer.
Please note:
- PrepLounge is not liable for any information shared by coaches
- You are solely responsible for ensuring that you do not disclose confidential or restricted information, especially regarding:
- Interview processes
- Case materials
- Internal company knowledge