When considering her virtual assistant rates, a VA will think about her experience, the exact duties she’ll perform, and the personal costs she’ll cover as an independent entrepreneur. For instance, more experienced virtual assistants can charge higher fees than assistants who are new to the field. Usually, a VA providing creative assistance typically charges more than one providing administrative assistance. To stay competitive, she may compare her rates to the rates of virtual assistants who perform similar duties. Sometimes, the virtual assistant’s physical location affects what she charges for her services.
Experience is one of the biggest factors that affect virtual assistant rates. For example, a virtual assistant who has been in the business for 10 years usually can charge higher rates than one who has only a few months of experience. Sometimes, this is even regardless of formal education, training, and degrees.
Not every virtual assistant does the same thing. One may be a virtual office assistant, providing the sort of administrative assistance traditional office assistants provide. Another may provide technical assistance, helping with maintenance and delivery of the client’s website, newsletter, or product. Some virtual assistants provide creative assistance, helping the client develop and maintain a product or service. Each VA will set her virtual assistant rates based on the work involved in her job duties, as well as the typical going rates for such assistance.
Generally, virtual assistants are independent contractors, which means usually they must pay for everything related to their businesses out of their own pockets. Before setting virtual assistant rates, a VA must consider overhead, such as the costs to supply and maintain a home office and market and advertise to new clients. She must also consider the cost to stay up to date with education, training, and trends in her field. Typically, independent contractors pay for their own dental, visual, and medical insurance, too. Similarly, a VA must plan her own retirement fund or comparable future investments.
Sometimes, location affects virtual assistant rates. For example, if the virtual assistant lives in an area where the cost of living is low, she might charge less than a VA who lives in an expensive area. This can vary from country to country, or even from region to region within the same country. A VA in New York, for example, might charge more than a VA from Tennessee.