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Im currently being certified with ICF and also Im an economist so, coming from a completely different background. I’ve also taken coaching classes with a yoga school and Udemy. In coaching there are horizontal skills (eg, if you’re a career coach can you help people get a job) and vertical skills (eg, can you ask powerful questions instead of lecturing in a session etc). From my experience the ICF-certified coursework was 10x more expensive but it was also more rigorous and provided me with vertical coaching skills. Udemy and the yoga school with horizontal skills. In addition to helping you get jobs with companies, being ICF-certified gets you “boosted” in search results for coaching platforms like Noomii. If you aren’t already a helping professional I would highly recommend taking ICF-certified coursework, and then decide with you want to sustain the certification which requires continuing education and fees.
Any formal training is good if you are just starting out
The majority of experienced coaches do not have it.
Some companies require it for their external coaches
It’s an expensive but thorough program
If you can do it great but if you don’t have it you should still be able to coach.
I've done several coaching schools with ICF master coaches on it, what matters the most is the long-term support. If you want a coaching business then you need a school that covers more than just the technicality and the networking, you can choose to cover all of them in several schools, or you can have it in a coaching school that has lifelong support and new materials added to the platform. There are schools with a membership fee, and there are schools with a downpayment for life. What are you looking for exactly matters more than anybody's opinion?