Setting Your Pricing Strategy
Price your sessions strategically to reflect your value while attracting the right mentees. Learn how to find your ideal rate and adjust over time.
Understanding Market Rates
Start by researching what other mentors with similar experience charge.
Typical Price Ranges
Entry-Level Mentors (0-2 years experience)
$25-$50 per hour
Building credibility, establishing reviews
Mid-Level Mentors (3-7 years experience)
$50-$100 per hour
Proven track record, specialized expertise
Senior Mentors (8+ years, specialized)
$100-$200+ per hour
Executive roles, niche expertise, high demand
Pro Tip: Research Competitors
Browse 10-15 mentor profiles similar to yours. Note their pricing, experience level, and review count. Start slightly below average if you're new, at average if you have 5+ reviews, and above if you have specialized expertise.
Value-Based Pricing Factors
Your pricing should reflect the value you provide, not just your time.
Factors That Justify Higher Rates
Specialized Expertise
Niche skills (AI/ML, blockchain, executive coaching) command premium rates
Proven Results
Mentees who've landed jobs, promotions, or achieved specific outcomes
Years of Experience
10+ years in your field, leadership roles, or industry recognition
Strong Reviews & Ratings
20+ five-star reviews demonstrate consistent quality
High-Demand Schedule
If you're fully booked 2+ weeks out, raise your rates
Offering Multiple Session Types
Create different session types at various price points to attract different mentees.
INTRO SESSION
$30
30 minutes
- • Get to know each other
- • Assess fit
- • Discuss goals
Loss leader to build relationships
STANDARD SESSION
$75
60 minutes
- • Deep dive on topics
- • Code/portfolio review
- • Actionable advice
Your main offering
INTENSIVE
$130
90 minutes
- • Complex problems
- • Career planning
- • Project review
Premium offering
Avoid These Pricing Mistakes
- Pricing too low "to be competitive" (devalues your expertise)
- Never raising prices (lock yourself into low rates)
- Same price for all session types (no upsell path)
- Matching competitors without considering your unique value
When & How to Raise Your Rates
Signals It's Time to Increase Pricing
✓ You're consistently fully booked
If your calendar is full 2-3 weeks in advance, demand exceeds supply. Raise rates by 15-20%.
✓ You've gained 20+ five-star reviews
Social proof justifies higher rates. Increase by $10-15 per session.
✓ You've mentored 50+ hours
Experience improves quality. Raise rates every 50-100 hours of mentoring.
✓ You've achieved new credentials
Promotions, certifications, or major career milestones warrant price increases.
Pro Tip: Grandfather Existing Mentees
When raising rates, honor current pricing for existing mentees for 30-60 days. This builds loyalty and goodwill. New mentees pay the new rate immediately.
Offering Pro Bono or Discounted Sessions
Consider offering some free or reduced-rate sessions strategically.
When Pro Bono Makes Sense
- ✓
Starting out (first 5-10 sessions)
Build reviews and testimonials quickly
- ✓
Supporting underrepresented groups
Help those who couldn't otherwise afford mentoring
- ✓
Testing new session formats
Experiment with new topics or approaches
Limit pro bono to 10-20% of your sessions to avoid burnout and maintain income.