How Much Does a Virtual Assistant Cost? What Smart Executives Pay

As a busy executive, you probably already know you need support.

The question, therefore, is not whether to hire a virtual assistant, but about how much you are willing to spend to get a VA that complements your workflows. Otherwise, going for the cheapest option could turn out to be expensive if you end up paying thousands of dollars with little impact on your time.

This guide discusses how much a virtual assistant costs, including when to choose between a low-cost and elite assistant to maximize your performance.

TL;DR – How Much Does a Virtual Assistant Cost?

The cost of hiring a virtual assistant is variable and depends on several factors:

• Experience
• Location
• VA capacity
• Hiring model
• Specialization
• Demand surges

You can expect to pay as low as 26,957 Philippine Pesos ($450) per month for VAs in the Philippines, or up to $9,000 to hire a US-based personal executive assistant with experience supporting C-suites.

What Factors Drive Virtual Assistant Pricing?

Virtual assistant pricing is not arbitrary; it reflects the reliability and quality of support you expect. 

The following variables may impact how much you pay for VA services:

• Experience: Virtual assistants with years of experience supporting busy executives offer faster ramp-up times, sharper judgment, and higher accuracy rates than novice VAs, so they often cost more.
• Geographical Location: A VA’s location influences their time zone alignment and cultural fluency. As such, US-based virtual assistants often cost more than VAs from overseas, such as the Philippines.
• Time Commitment: This refers to the fraction of a VA’s capacity that you intend to utilize. For example, it is more cost-effective to hire a fractional executive assistant than a full-time hire when comparing candidates with similar experience and from the same location.
• Hiring Model: Hiring a VA on an hourly basis means the cost varies based on the time they spend undertaking your tasks. In contrast, a fixed monthly cost often makes your VA-related expenses more predictable, allowing you to budget appropriately.
• Specialized Skills: Virtual assistants with specialized skills in fields like web development, healthcare, and engineering often cost more than generalist VAs.
• Market Forces: Increased demand for elite virtual assistants during peak seasons could temporarily spike VA costs.

Virtual Assistant Pricing Models Compared

VA agencies price their services differently based on the type of support and the number of hours you intend to utilize the assistant. 

Let’s explore the most common pricing models in detail below:

• Hourly Pricing: You pay for the hours your VA spent on the delegated tasks. This model often sounds efficient at first because you only pay for the VA hours you use. However, it often shifts the VA’s and agency’s focus to tracking time obsessively, causing you to miss out on high-level support.
• Monthly Retainer: In this arrangement, you’ll pay a fixed monthly fee for access to dedicated, ongoing support. This model works best for executives who want to build strong relationships with their VAs, allowing them to take on more significant tasks over time.
• Project-Based Pricing: You hire VA services for the duration when you’ll be undertaking a project, after which the contract terminates. For example, you could hire a VA specifically to manage your social media campaigns when launching a new product.
• Agency Pricing: Some agencies charge a one-off fee to help you vet, hire, and onboard a VA, after which they exit the arrangement. This model works best if you are looking to hire a full-time in-house VA.

How Much Do Virtual Assistants Cost — a Full Breakdown

The full cost of hiring a virtual assistant depends on several factors, including the nature of the arrangement and other expenses associated with managing the VA.

For example, a full-time VA will cost you up to $120,000 in annual wages, before adding healthcare, paid time off, and home-office setup benefits.

Additionally, you must account for whether you are partnering with a freelance VA or an executive assistant agency.

The table below provides a full breakdown of VA costs:

A freelance virtual assistant may seem to cost you $90,000 in annual wages on paper, but the hidden costs of managing the relationship may balloon the expenses to over $100,000. This is before accounting for the hours you spend each time there is a turnover, and you need to recruit and onboard the replacement.

In contrast, ProAssisting charges a $3,300 monthly retainer for one-third of an EA’s capacity, with the assistant receiving more than 75% of that fee. Another key benefit is that you can quickly scale support, such as switching to ½ or ⅔ of your EA’s capacity during intense work periods.

Schedule a call to explore available executive support options for your budget.

The Link Between Low VA Pay and High VA Turnover

Many executives often blame poor onboarding or the inability to meet expectations as the main reasons their VAs left. However, the single most significant cause of high turnover is usually low VA pay. 

Most VAs who accept below-market rates treat the job as a stopgap while they wait for better offers. 

Here are the implications of low VA pay on the quality of support you receive:

• Low Pay, Low Motivation: No amount of hands-on onboarding or affirmations will keep your VA motivated and happy about the job if they feel undercompensated and exploited.
• High Rehiring Costs: Every time a VA leaves, you incur the cost of recruiting and onboarding their replacement, which costs money in paid premiums and lost productivity (the hours you spend onboarding the new VA).
• Low-Quality Support: Elite VAs understand their worth to executives, so they demand competitive rates. This means if you hired a VA for $2 per hour, you’ll probably be dealing with a novice with little to no experience supporting busy executives like you.

When a Low-Cost VA Makes Sense and When It Doesn’t

There are legitimate use cases for both low-cost and elite VAs, with most situations depending on the quality of support you need. 

For example, you may consider a low-cost VA if:

• You Only Have Basic Tasks: A low-cost VA can handle repeatable tasks like data entry and calendar management, reducing your administrative workload.
• You Have a Very Tight Budget: Principals like small business owners and startup founders with a limited monthly budget (less than $1,000) can hire low-cost VAs to handle administrative tasks without hurting their cash flow.
• You Need Volume Over Precision: You may hire a low-cost VA to handle tasks that only require speed, but accuracy is inconsequential, such as bulk email outreach, list building, or basic research.

In contrast, switch to an elite executive assistant if:

• You Want a Long-Term Partnership: Switch from a low-cost VA if you are looking to build a long-term partnership with your assistant. This allows them to undertake tasks such as business partner, chief of staff, scheduler, personal assistant, and project manager, which support your performance multipliers and help you reclaim your time.
• You Need a Strategic Thinker: A low-cost VA doesn’t make sense if you need a proactive assistant who can prioritize tasks based on urgency and strategic importance.
• You Need Integrated Life Management: If you are a busy executive, you need an assistant who will handle your non-work-related tasks to help you reclaim your time. For example, they can help you plan vacations or block your schedule to help you focus on strategic tasks.

Frequently Asked Questions (FAQs)

Let’s answer common questions executives ask about the cost of hiring a virtual assistant:

How Many Hours Per Month Do Most Executives Use a Virtual Assistant?

It varies from one executive to another. Executives who hire a part-time virtual assistant often use their services for 10 to 15 hours a week, totaling up to 60 hours a month. 

In contrast, principals who hire full-time VAs often pay for about 160 hours of support but realistically use only about 100 hours per month.

Does a More Expensive Virtual Assistant Perform Better?

Most of the time, yes, but not always. Oftentimes, highly skilled and experienced VAs cost more than entry-level ones, which is why the former may perform better. 

However, executives shouldn’t hire virtual assistants solely based on their rates as a performance indicator.

How Do Virtual Assistant Agencies Price Their Services?

Most virtual assistant agencies charge an hourly rate, with any overtime charged separately at a higher premium.

Is It Better to Pay a Virtual Assistant Hourly or Monthly?

There are strong arguments for paying virtual assistants on an hourly or monthly basis. For example, an hourly rate means that you only pay for the time you receive support. 

However, the main challenge with hourly pricing is that you cannot budget for your support expenses in advance. In contrast, paying a fixed monthly retainer helps you forecast your support expenses in the long term.

Conclusion

Understanding the cost of VA services is integral to budgeting for your executive support needs. However, even more important is finding ways to pay only for the support you need, rather than hiring a full-time virtual assistant to work 10 hours a week.

ProAssisting’s executive assistant model allows you to utilize as little as ⅓ of an EA’s capacity, after which you can scale to ½ or ⅔ as your schedule becomes task-heavy. Our ProAssistants have at least 5 years of experience supporting executives at reputable brands, including Target, Stanley Black & Decker, and the WNBA. Additionally, your ProAssistant will keep more than 75% of the $3,300 retainer you pay, which helps keep them motivated.

Schedule a no-obligation call to explore the available executive assistant options.