What Really Affects Virtual Assistant Pricing?
- Virtual assistant,
- Virtual assistants,
What Really Affects Virtual Assistant Pricing?
Thousands of online advertisements claim that their company has the lowest virtual assistant pricing in the market. While this may sound perfect for your budget, is it really worth your time and money?
Before anything else, it is important to understand how virtual assistant rates are decided. Cheaper rates do not automatically mean you’ve hit the jackpot. However, expensive rates also cannot guarantee satisfaction in their services. So, how can you determine the rates you should agree to?
Several factors affect the cost of virtual assistant services, including work experience, specializations, and location. Let us explore how these factors define rates.
Virtual Assistant Pricing: Does Work Experience Matter?
It is logical for experience to influence how high or how low service costs can get. To understand how it affects rates, let us explore the three levels of experience.
Newbies with little to no relevant experience usually fall into this category. Either they shifted from the corporate world or they specialize in an unrelated field, their skills still need refining for the virtual industry. Thus, the low rates for their services.
Some clients shy away from hiring entry-level virtual assistants, thinking that they might not be able to keep up with the tasks. Meanwhile, other clients prefer beginners due to low rates and the possibility of training them according to company culture. But what can you really expect from a beginner?
Entry-level VA’s usually possess basic skills that are considered “easy-to-learn”, including:
- Proper use of the most common online tools (e.g. Gmail, Google Docs, Microsoft Office)
- Basic internet research
- Basic data entry
- Internet savviness
- Post scheduling
- Calendar management
Virtual assistants with a few years of relevant experience cost more than beginners. They have already undergone training to grasp the virtual world completely and to provide satisfactory services. Also, they have mastered basic VA skills and can take it to the next level without regular assistance.
Once VAs gain enough experience, they can choose whether to focus on a niche or continue mastering general administrative tasks. Depending on their preferred path of specialization, their rates will continue to rise. But don’t let this discourage you just yet!
Think of it this way: the better their skills become, the more they can assure the growth of your business.
Those with extensive professional experience probably have been around longer than most starter businesses. They have seen how the virtual industry has grown, learning how to adapt to its ever-changing trends.
Some expert VAs follow a specific niche according to their preference, but most professionals can do a little bit of everything. This includes web development, graphic design, copywriting, marketing, and social media management. Aside from their profitable skills, they usually also possess ideal work ethics, such as reliability, accountability, and initiative.
You might find other employers refer to these professionals as “Rockstar VAs”, “Superstar VAs”, or “Ninja VAs”. Unfortunately, they offer entry-level rates for expert-level skills. While this may seem tempting to follow, this kind of practice should be avoided. Not only does this disrespect the dedication of the professionals, but it also negatively impacts a business’s reputation.
Hiring an expert is an investment that your business will thank you for. Their rates might intimidate you, but the quality of their services is unmatched.
Virtual Assistant Specializations
Before hiring a virtual assistant, observe where your business needs assistance. After determining your needs, list down the skills that you think might be relevant for improvement. Then, you can start looking for the best professionals to help you fill the gaps.
But just like work experience, skills and specializations also affect pricing. To give you a better look at things, here’s an overview of the average hourly rates according to the different types of VA jobs:
- General Virtual Assistant – $3 to $15 per hour
- Copywriting VA – $3 to $45 per hour
- Customer Service VA – $4 to $25 per hour
- Graphic Design VA – $7 to $45 per hour
- Store Administration VA – $10 to $70 per hour
The rates will highly depend on expertise, profitability, and demand. If you are looking for a VA with multiple specializations, prepare to increase your budget.
How Regional Differences Influence VA Rates
Believe it or not, the location of a virtual assistant also affects their service rates. However, unlike work experience and specializations, the cost of their services does not heavily rely on this factor. Rather, it is affected by different worldwide economies.
Virtual assistants from developing countries typically charge less compared to professionals from first world countries. The cost of living, taxes, and the cost of self-employment in their location can influence how much they charge for their services.
Quality virtual assistant services at the best rates? Only the HOPLA team can help you make it possible. Schedule an appointment with us today for more details. Don’t worry, consultation is free!