No matter your business, when you’re an entrepreneur, hiring a virtual assistant can be one of the best investments you make. When you hire a virtual assistant, some of the benefits include the fact that you can focus on strategic growth and objectives, and you can increase revenue.
A lot of people opt to hire virtual assistants from overseas to keep costs lower. For example, you might hire and pay someone in India to be your virtual assistant, or maybe you’ll go with someone from the Philippines.
So, how much should you budget for and pay a virtual assistant, and especially someone from overseas?
Look At the Costs As An Investment
First and foremost, before you start hiring a virtual assistant, reframe your perspective. Hiring a virtual assistant is an investment in your business, and if you have the capital available to do it, it can be valuable.
However, when looking at something like hiring a virtual assistant as an investment, you want to ensure that you’re strategic with your budget, and what your expected ROI will be. You need to outline exactly what tasks your virtual assistant will be handling, and how that will allow you to increase your revenue, or strategically build your business.
How Much Do VAs Charge?
Certain factors play a significant role in how much a virtual assistant is going to charge. Primarily, their experience level is important. Maybe you don’t require a huge amount of experience for the tasks you want your VA to handle, so you might be able to find someone who’s going to charge less.
If you have higher-level tasks you need a VA to handle, and they require a certain level of experience, as with any other hiring scenario you’re going to have to pay more in most cases.
The Tasks You’re Hiring For
Again, the tasks you’re hiring for are extremely relevant when it comes to how much a VA is going to expect to be paid. If you’re expecting your virtual assistant is going to help with marketing initiatives or accounting projects, then you may need to pay more for those skills.
If your virtual assistant is going to be managing your general administrative work, such as data entry or typing documents, this is something a lot of VAs can do, so it may be a less expensive investment. The average hourly rate for someone who does general administrative work or data entry is around $12 an hour, and overseas freelancers may charge less than this.
Finally, location plays an important role in how much you should plan to pay a virtual assistant. This doesn’t mean you want to take advantage of someone because they live abroad, but it’s going to cost more to hire someone in the U.S. than it would to hire someone overseas in many cases. If someone seems to be charging you a really low rate, even in a foreign country, that can be a red flag. Ensure that you look for the going rate in the country you’re hiring from because while it may be less expensive to hire overseas, it shouldn’t be astonishingly less expensive.