Help Center

How Can Mentors Set the Right Prices for Their Mentorship?

At iknowly, Mentors have full control over their pricing. Setting the right price is crucial to attracting mentees while ensuring your expertise is properly valued. Here's how you can set and manage your mentorship fees effectively:

1. Setting Your Prices

• During the Application Process:
  • When applying to become a mentor, you will be asked to set your initial mentorship rates.
• After Approval:
  • You can update or adjust your pricing at any time by navigating to:
    • My iknowly Tab → Profile → Price.

iKnowly does not influence mentor pricing; each mentor determines their own rates based on expertise, experience, and market demand.

2. Available Mentorship Options

Mentors can set their prices for the following session types:

✅ 15-Minute Trial Session

• Can be free or paid, depending on the mentor's preference.
• Allows potential mentees to experience your expertise before booking a full session.

✅ 30-Minute Session

• Suitable for focused discussions, quick problem-solving, or strategy sessions.

✅ 60-Minute Session

• Ideal for in-depth mentorship, coaching, or comprehensive advisory services.

Mentors must define their pricing separately for each session length in the Price section.

3. Factors to Consider When Setting Your Prices

When determining your rates, consider the following:

Your Experience & Expertise

• Experienced professionals with certifications or a strong industry reputation can charge premium rates.
• If you are new to mentoring, consider competitive pricing and adjust over time.

Market Demand & Industry Standards

• Research similar professionals in your field to understand standard pricing.
• High-demand industries (e.g., tech, finance, legal) often support premium pricing.

Value Delivered to Mentees

• Define what is included in the session (e.g., follow-up materials, reports, actionable insights).
• Sessions with personalized advice or additional resources can justify higher fees.

Competitive Pricing Strategy

• If you are new, starting with a slightly lower price can help attract mentees.
• Over time, adjust your pricing based on demand, mentee feedback, and industry trends.

4. Adjusting Your Prices Over Time

• You can update your rates anytime in My iknowly Tab → Profile → Price.
• Regularly review your rates based on:
  • Mentee feedback and demand.
  • Market trends and competitor pricing.
  • Your growing experience and expertise.

By strategically setting your mentorship fees, you can maximize your earnings while ensuring your services remain accessible to your target audience.

If you need further guidance, feel free to contact support@iknowly.com.