Anyone who runs a successful business knows how important their time is, which is why most business owners employ personal assistants to help them stay organized. The problem is that personal assistants cost small business owners a fair chunk of their resources. They can often be prohibitively expensive, particularly for new startups on a tight budget.
If you’re a business owner who’s been getting by through multitasking, you might think that a personal assistant is a nice to have, not a must-have. Fortunately, the rise of location-independent work has allowed entrepreneurs to hire PAs remotely. With Wing, entrepreneurs can hire a team of remote virtual assistants to help them stay organized and complete small but important tasks. Examples of these include scheduling, data entry, invoicing, and the like.
Read on to learn how much personal assistants cost to hire, why a business owner might get one, and where you should get your assistant.
Why hire remote personal assistants?
There are lots of reasons to hire a remote assistant. For starters, remote virtual assistants, also known as VAs, are available 24/7 and can complete any work that doesn’t require highly specialized knowledge or training.
For example, you can ask Wing’s assistants to schedule a meeting with a client or pay an outstanding invoice. All you have to do is ask, and the virtual assistant does the rest.
Remote personal assistants are also helpful because you can access them from anywhere in the world with the touch of a button. Wing’s assistants work with software and apps you probably already use including Slack, Salesforce, Zoom, and more.
If that’s not enough, remote assistants are also cost-effective compared to hiring a full-time employee. Personal assistants cost far less to hire than a regular employee. In most cases, you pay a monthly fixed price to hire remote virtual assistants, which helps to keep costs low.
In addition to being more cost-effective, using remote assistance is like getting a dedicated worker, much like having a full-time employee who is available to work whenever you need help.
How much does it cost to hire in-house personal assistants?
Personal assistants cost less when you hire them remotely. The price difference becomes apparent when you compare it to the cost of getting a remote team. Below are some reasons why it costs a lot to hire employees.
Salary, insurance, supplies
The average hourly wage for an in-house personal assistant is $15.36 an hour; however, depending on their experience, rates can reach upwards of $25 per hour. A business can expect to pay a full-time and in-house personal assistant approximately $600 a week or $2,400 a month, plus benefits, health insurance, and paid vacation time.
Over the course of a year that amounts to $32,000 annually; in many cases, though, business owners spend as much as $52,000 annually to have a personal assistant.
On top of their salary, PAs also require equipment and supplies such as a computer, desk, and chair. They will also likely need a cell phone with a data plan. Every business must also pay for insurance in order to cover its liabilities. Consequently, an in-house personal assistant will likely increase a business’s insurance premiums.
Providing employees with benefits is important, but it is also expensive. According to the latest report from the Bureau of Labor Statistics, employee benefits cost approximately 31 percent of an employee’s total compensation.
In other words, if an employee’s hourly rate is $15, it will cost the employer an additional $4.65 to provide them with benefits. A personal assistant who earns $32,000 annually will cost the employer an additional $9,920 in benefits. It means companies spend approximately $42,000 annually in total compensation.
In case they leave: expenses related to lost productivity
Personal assistants cost a company a significant amount of time and money during training. It is why it can be expensive if the employee leaves. In fact, according to the Association for Talent Development, organizations spend an average of $1,299 per employee on training and development.
Besides the initial training costs, there is also a loss in productivity between the time an employee leaves and the time you hire and train their replacement. This transition period can eat up your valuable time and distract you from crucial work.
There are also costs associated with the hiring process itself. It can cost your team a lot of time, effort, and money to sift through resumes and conduct interviews. If the employee you hire decides to leave, all of that effort is lost. Whether you like it or not, you must start the process again. This can be a huge pain and very expensive if an agency is involved.
How much does it cost to hire remote personal assistants?
Hiring a remote personal assistant generally ranges from $15 to $30 per hour. However, personal assistants cost as much as $75 per hour for higher-level legal or financial tasks. With that said, non-US-based VA services from places like Zirtual and Magic are often cheaper and can cost as little as $10 an hour. At Wing, we provide unlimited, dedicated personal assistants starting at a low fixed monthly fee of $799.
One of the biggest factors in the cost of hiring a PA is skill set. The more specialized an assistant’s skills, the higher their rates. However, finding the best hire involves more than looking for the person offering the lowest rates. Consider the amount of work they can provide and the support they receive as well.
Cost for general assistants
In most cases, virtual assistants are able to complete simple admin tasks such as scheduling, travel planning, expense reporting, and documentation preparation. Hiring entry-level US-based personal assistants cost $15 per hour for general tasks. Meanwhile, hiring personal assistants cost less if you broaden your criteria and include talent from outside the US.
Note that you will only spend $9.36/hour to hire two dedicated Wing assistants to work 40 hours each per week, rendering 320 hours per month in total.
Cost for specialized assistants
Personal assistants cost a lot more when they do more specialized tasks. This includes activities related to fields requiring specialized knowledge or training such as real estate and social media, things that Wing’s VAs can handle.
In addition, Wing provides you access to marketing and business process experts when needed. Wing’s experts can help subscribers optimize their processes at no additional cost.
Why hire through managed virtual assistant service providers
There are several things to consider when hiring personal assistants. One of the most significant things to consider is whether to hire a contractor or a managed assistant. Getting a managed virtual assistant means that the personal assistants are hired, trained, overseen, and paid by a service provider. As such, you don’t have to manage another employee, and this arrangement saves you time and money.
Recruitment and training aren’t up to you
One of the biggest benefits of hiring a managed virtual assistant through a service provider is that recruitment, training, and management aren’t up to you. This will free up your time to focus on core business tasks instead of tedious admin work. Personal assistants cost far less when there are fewer ongoing expenses like these.
However, you need to make sure that you work with a service provider who does provide the surrounding support PAs need. At Wing, every assistant is tagged with a Customer Success Manager. This person remains responsible for understanding your business needs and task requirements. They will also help train your personal assistant as required.
Managed personal assistants get mentorship
Another benefit when you hire a managed virtual assistant is that they may get mentorship from their service provider. In fact, when you hire a managed VA through Wing, you’re not just hiring an independent contractor; you’re hiring an entire support team that can help turn tasks into processes and resolve any issues or roadblocks they may run into.
You don’t shoulder the costs of turnover
When you hire a managed virtual assistant you also avoid paying for the costs of hiring and training a new employee. This can save you a lot of money in sunk costs and lost productivity.
Wing Assistants – Managed, Trained, Dedicated Assistants
If you are looking to augment your workflows and processes, you won’t go wrong with Wing. Our managed, trained, and dedicated assistants are supported by a team of peers, ensuring top-quality work every time. Wing’s personal assistants cost much less than an in-house employee and provide just as much value, if not more!
Your Wing Assistant can do just about anything—all you have to do is delegate the work. This includes scheduling, invoices and expenses, data entry, sourcing, CRM maintenance, and more. Learn more about Wing’s virtual assistants and what they can do for you—schedule a call and start doing more of what matters today!
Roland Polzin is a co-founder and the CMO at Wing Assistant, a product-driven managed B2B marketplace connecting SMEs with vetted talent and making delegation efficient and secure. In 2020 he received his MBA from The Paul Merage School of Business at UC Irvine, and in the same year, he and his fellow Wing co-founders joined the Skydeck Accelerator at UC Berkeley. Previously, Roland served in the German Army as Chief PR Officer.