Virtual AssistantsVirtual Assistants (VAs), are business owners who provide professional, administrative, and technical assistance to clients on a contractual basis. These clients are typically other independent entrepreneurs and small businesses. Virtual Assistants work from their own office making it an ideal profession for experienced professionals looking to work from home. VAs generally specialize in a particular service or industry providing a niche service to their clients. Virtual Assistant Cost Comparison AnalysisHourly rates amongst Virtual Assistants vary greatly depending on the task, project or specialization. Below is a cost comparison between a full-time employee and a Virtual Assistant providing general administrative services. Virtual Assistants who provide niche services, such as to real estate agents, speakers, coaches, authors, etc., charge a higher hourly rate.
Full-time Employee vs a Virtual Assistant Cost Comparison Want to SAVE over $60,000 in business expenses this year? If you answered yes, read on ... A cost comparison for a full-time employee versus a Virtual Assistant | COST COMPARISON | Full-time
Employee | Virtual Assistant | | Hourly Rate of Pay | $20.00 | $35.00 | Fringe Benefits @ 35%
(Health/Dental/Life Insurance, Retirement Plans) | 7.00 | None | Overhead Rate @ 50%
(Office Space, Equipment & Office Supply expense, UI Insurance, Worker's Compensation, Overtime Pay, Administration Costs) | $10.00 | None | | Total Effective Rate of Pay | $37.00 | $35.00 | | **Hours Per Year | 2,080 hrs. | 480 hrs. | | TOTAL Annual Labour Cost | $76,960.00 | $16,800.00 | Difference = $60,160.00 per year
Although the Virtual Assistant's hourly rate is more than the employee's rate in the first place, you save the cost of benefits and overhead that would have to be applied to the new employee's wage. And, because Virtual Assistant's are usually more experienced, more efficient, and better connected than the employee, you'll need to devote far less time to the project to get the same results, only 480 hours a year versus 2,080 for the new employee. **Remember, with a Virtual Assistant, you only pay for the time on task by the minute! No more paying for socializing, hour long lunches or frequent trips to the washroom. Your employee's 8 hour day can be crunched into 3-4 hours with a Virtual Assistant. Simply put, you should contract with a Virtual Assistant because it's more cost-effective and Virtual Assistants go above and beyond the normal assistant's duties to impact your own productivity. No task is too big or small for a Virtual Assistant to handle. Even if you only have 1 hour of work a month for a Virtual Assistant to do, a VA can (and will) do it.
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Virtual Assistants
