Virtual Assistance 101 – Part Three – Rates

“How much does a Virtual Assistant cost?” “Are the rates negotiable?” “Other VAs charge much less, why would I work with you instead? “What is the difference between PAYG and retainer rates?”

Before answering these questions, there are a few things to keep in mind:

1. Each VA sets her rates according to her skill and experience level. Most have several years of experience in the corporate world. Plus, those who have more experience as a VA will have (as a general rule) higher rates than those just starting out.

2. In the wise word of Stacy Brice: “Virtual Assistance was never meant to be the low-cost, or even lower-cost alternative to getting administrative support. It was meant as the far more convenient alternative to getting administrative support.”

3. There are other benefits clients receive when working with a VA that they don’t get with an employee. These benefits – which are inestimable – will be discussed next week.

4. You will find differences (sometimes big differences) between AssistU VAs and other VAs. AssistU graduates undergo rigorous training which shows not only with their rates; but, also in their level of service and expertise.

Okay, now to the nitty gritty:

“How much does a Virtual Assistant cost?”

Industry standards have rates set generally at $30 – $60 per hour. The more experienced VAs charge upwards of $80 – $100 per hour. On the flip side, there are Virtual Assistants who charge as little as $15 – $20 per hour.

Personally, I don’t see how charging only $15 – $20 per hour serves the client or the VA. It requires the VA to take on more clients in order to break even – let alone a small profit. With more clients, it can mean less personalized care for each client. Also, with such low rates, I can’t help wonder about the VA’s confidence in her skills or her status as a business owner. Does she believe in the value she brings her clients?

“Are the rates negotiable?”

Simply put, no. Would you negotiate the fees of a lawyer or accountant? Of course not. They are experts in their fields and so are Virtual Assistants. There are VAs that offer special, temporary discounts or free offers; but, overall, most VAs who value their skills and service will not negotiate.

“Other VAs charge much less, why would I work with you instead?”

See the above question: “How much does a Virtual Assistant cost?” If you are interested in learning why you should work with me specifically, email me to set up a time to talk.

“What is the difference between PAYG and retainer rates?”

PAYG (Pay as you go) are rates where the services are charged by the hour – you pay for each hour you use. These hours are usually billed after the hours have been used up. Some VAs offer PAYG for those clients who are not sure how many hours they will need each month.

A RETAINER is a rate package where there is a set fee for “retaining” or “holding” a set amount of hours specifically for a client. For example: I have a five hour retainer package for $250 per month. This means that the client on this retainer has reserved five hours of my time per month just for him or her. (Btw, you can see all of my retainer packages here.) These hours are paid for in advance. Any overages are billed at the hourly rate.

In my opinion, PAYG is not the better option for the client. The rate is usually on average higher than a retainer rate. Also, the client’s work tends to be a lower priority. Those who are on retainer have paid to have their work take precedence.

So there you have it. Next week I will discuss the benefits and objections of working with a Virtual Assistant.

Feel free to contact me if you any questions.