Virtual Assistant Cost Comparison
Here you are the entrepreneur with a business that is nicely taking off with the grace of an eagle…Your dream is now a reality! Your agenda is now overflowing with meetings, you are working 50 hours per week, and your paperwork is piling up.
Congratulations, you are now the sole owner of a full time administrative position that will not only keep you up at night, but also prevent you from playing golf with the boys next weekend.
So, what are your options? Well, you can hire full time help, outsource your work to a Virtual Assistant, or do the administrative work yourself!
Making the decision of hiring full time help is the traditional way, but does it mean that this is your best choice? Do you really know what you are paying for?
Based on surveys done by Salary .com and America Online the average base salary for an administrative assistant in the United States is $39,795.00 per year, or $19.13 calculated on an 8 hour per workday.
Again, from these surveys, workers admit to wasting and average of 1.15 hours per workday, which adds up to $5,720 per year, per worker in wasted salary dollars!
In other words, if you hire an assistant at $39,795.00 per year, you can expect to lose $5,720 per year on wasted time!
Your second option is outsourcing your administrative work to a Virtual Assistant.
Now, what is a Virtual assistant, and how can she or he help you?
First, a virtual assistant is not an employee, but rather a self-employed professional that offers administrative support services from her or his own home office.
A virtual assistant is a full time partner that has a vested interest in the growth of your business and will work in collaboration with you towards the success of your company!
When you outsource to a virtual assistant you only pay for the work contracted out and not for idle time frittered away at your expense! How much will that cost you? Rates usually vary between $20.00 and $45.00 per hour, depending on the expertise required and the project at hand.
In addition, because you are outsourcing your work, you are saving on the following: payments made to Medicare, workers comp, administrative costs, recruitment, base salary, benefits, office space and furnishings, equipment, etc.
On the other hand, if you still rather do the administrative work yourself, let us examine if your rate of return is really worth it.
You contract your services at a price of $150.00 per hour, and, in this past week, you have spent 5 hours of your precious time doing routine work at the office.
In other words, you just lost $750.00 doing the work by yourself.
Now, if you would outsource your work to a Virtual assistant lets say at a medium price of $35.00 per hour, your cost would be $175.00 and you would realize a saving of $575.00.
All and all the decision seems simple to me. Which would you rather do? Hire full time help, and pay for wasted time and equipment? Keep on doing the work yourself and loose money and marketing time for your business, or maybe take the proven and affordable route of outsourcing your work and hiring a Virtual Assistant.
Remember a Virtual Assistant is a professional that will work with you… A Virtual Assistant is a collaborative partner, and their success is measured by your success!