Thanks to the pandemic, the US workforce is changing rapidly to accommodate remote working. It’s estimated that 36.2 million Americans will work remotely by 2025. That’s a stark increase from the 16.8 million who worked remotely before the pandemic hit.
This shift has created a new opportunity for businesses to tap into a global pool of talent by hiring virtual assistants (VAs).
If you’re thinking of hiring a VA, one of the first questions you’ll need to answer is how much to pay them. In this article, we’ll take a look at the average virtual assistant salary, as well as some factors that can affect how much you should pay your assistant.
Keep reading if you’re toying with the idea of outsourcing some of your business tasks to a VA.
Virtual assistant services vary widely, from administrative support to social media management, and can be contracted on a part-time or full-time basis.
The beauty of hiring a VA is that they can be based anywhere in the world, so you’re not limited to talent in your immediate area. This gives you the opportunity to hire the best person for the job, regardless of location.
What’s more, VAs are often more affordable than hiring in-house staff, as you don’t need to provide them with office space or equipment. Staff benefits and tax considerations are also not absorbed by your company.
The average annual salary of a virtual assistant in the US is just under $44,000. However, this number will vary depending on experience, skillset, and location.
For example, a VA with social media management experience will likely command a higher salary than one who only provides administrative support. Similarly, VAs based in high-cost-of-living areas like New York or San Francisco will usually earn more than those based in smaller cities or towns.
This will vary even more if your VA is based in another country. On average, US-based VAs earn about $15 per hour. This drops to as low as $5 when you hire a virtual assistant from another country.
When it comes to setting a salary for your VA, it’s important to consider the value they’ll bring to your business. If you’re hiring a VA to handle your bookkeeping, for example, you’ll need to factor in the cost of any tools or software they’ll need to do their job, as well as the value of their time.
To get an idea of what you should be paying your VA, take a look at some virtual assistant companies such as FreeUp. You can request VAs with the skills and experience you’re looking for to get an idea of the going rate.
There are a few key factors that will affect how much you pay your virtual assistant. These include:
The type of work they’ll be doing: As we mentioned earlier, VAs can provide a wide range of services. The type of work you need them to do will have a big impact on their salary.
For example, if you’re hiring a VA who needs specialized industry knowledge or experience such as in medicine or finance, you’ll need to pay them more than you would for a VA who only provides administrative support.
The number of hours you need them: Another factor that will affect your VA’s salary is the number of hours you need them to work each week.
If you only need a few hours of their time each week, you can expect to pay them less than you would if you needed them to work full-time.
The years of experience they have: Like with most jobs, VAs who have more experience will usually command a higher salary than those who are just starting out.
When you’re looking at potential candidates, take a look at their work history to get an idea of their level of experience. You can also ask them about any relevant training or certifications they may have.
Their location will also be a factor in cost as discussed above.
There are a few different options when it comes to paying your VA, and the best option for you will depend on your business needs.
If you only need a VA for a short period of time, you may want to pay them hourly. This way, you’re only paying for the time they spend working on your project, and you’re not locked into a long-term contract.
If you need a VA for an ongoing project, you may want to consider paying them a monthly salary. This can be a more cost-effective option, as you will both arrive at a fair compensation figure and you won’t worry about racking up too many hours each month.
You can also pay per project completed. This can be a good way to save money by allowing the VA to work when they want as long as the project is completed by your deadline. It’s easy to track payments due to the VA based on the number of projects completed within your specified time period.
No matter which payment option you choose, it’s important to put your arrangement in writing. This will help avoid any misunderstandings down the road.
Using a virtual assistant company can be a great way to find qualified VAs. The virtual assistant salary will be set ahead of time, and all payment and tracking of hours or tasks will be handled through the company.
Sign up for a free account on FreeUp to find a virtual assistant for your business today.
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