Salary

Virtual Assistant Salary

A virtual assistant salary is going to be calculated on many factors.

1) Experience
2) Expertise
3) Industry Knowledge
4) Fluency
5) Value

A good virtual assistant salary needs a good salary strategy. It is not enough for the VA to know how much per hour they would like to make. The virtual assistant may be overlooking the time it takes to do marketing of their services, book keeping, taxes, reports and admin, etc.

Instead, a virtual assistant should decide what the monthly salary goal is and then work backwards.

For example, if the virtual assistant wants to earn an average of $5,000 per month, he will need to put together a plan that estimates how many billable hours per month he will work. Assuming he will work about 35 hours a week, he will be charging $35.71 per hour. But what about expenses?

Training, memberships, accounting software, health insurance and other expenses will increase the cost of business. Figure out what those expenses add to your rate to cover them.

Next, just because you want 35 billable hours per week does not mean it will happen, at least right away. Measure your % of open time and adjust your rate accordingly.

You are probably asking yourself how you are ever going to make a good salary as a virtual assistant. You are competing with people in other countries that will work for far less than you.

That is where some of those other factors come in from above. You have to increase your value by becoming a specialist. Learning Internet Marketing techniques make you more valuable than a general virtual assistant. And if you have knowledge in a specific industry, even that much more valuable.

Also, working for an hourly rate all the time is challenging. You can increase your salary by becoming very proficient and charging by the item. For example, you could write 5 blog posts per month for a set rate. The more proficient you become at writing, the higher the hourly rate becomes.

Lastly, take into account the stability of your virtual assistant salary.

Is one customer paying you more than 25% of your income? This can be great, but what happens if they leave? Also, are you delivering value to clients so that they want to continue to use your services?

Your VA Salary depends on your ability to keep multiple clients coming back regularly.