There are many types of virtual assistant companies and freelancers, and their costs and business models differ widely. So, as is often the case, the answer to the question, "how much does a virtual assistant cost?" is, well, it depends.
There are three significant factors that affect how much a virtual assistant costs:
- Service model
- Skillset
- Location
We’ll explore what each of these factors involves to help you choose a virtual assistant service that fits your needs and budget when you're considering hiring one.
Models of Virtual Assistant Services
There are three broad categories of virtual assistant service providers:
- Freelance virtual assistants through an online marketplace or job board.
- Agencies that match you with a qualified assistant, much like a recruiting firm, but you pay the agency.
- Managed service providers that hire, train, and support virtual assistants for long-term engagements.
Let's break down the costs, use cases, and risks of each model.
Cost of a Freelance Virtual Assistant
Freelancers are independent contractors who set their own hourly rates. When you Google "virtual assistant," you'll see freelance marketplaces with prices starting around $10/hour. UpWork, for example, advertises rates of $10-$20/hour.
Indeed lists the average hourly rate for virtual assistants on their platform at $20/hour. Keep in mind that "average" means half are above and half are below that amount.
A freelance virtual assistant is ideal for short-term projects that are time-sensitive and need little guidance. Using a freelance platform to hire an assistant can quickly provide support while reducing overhead.
However, there are risks involved with hiring freelancers:
- May not always be available if you want repeat or long-term work
- They might not have the skills advertised
- Training, management, and quality control are up to you
- You can end up spending a lot of time getting a project right
- If the freelancer gets a better gig, you start over
- Little recourse if things go wrong
- No vetting to ensure you're getting an experienced VA
- No guarantee of IT security
Remember that marketplaces and job boards are not providers of virtual assistant services. Instead, they function like online dating platforms for various types of labor, without focusing on a single field. You can go to them to find the lowest hourly rate for virtual assistants, but you won't get the same level of support, quality guarantees, or value as you would with a VA service.
The payment setup for an independent contractor on a freelance platform typically involves either an hourly fee or a fixed overall cost. For a highly skilled and trained VA, you might expect to pay above the average rate.
Cost of a Virtual Assistant Agency
A virtual assistant agency specializes in helping people hire a virtual assistant directly and usually has a vetting process for quality control. Prices vary, and many firms are unclear about their pricing, instead emphasizing how much lower the cost is compared to a fully loaded full-time employee.
Virtual assistant payment structures vary. They could be hourly, packaged pricing, or project-based. Most VA companies offer packages of hours on a monthly contract.
The risks linked to using an agency are similar to those of hiring a freelancer, but agencies usually bear slightly more responsibility for their virtual assistant's performance. Possible risks include:
- They might not have the skills advertised
- Onboarding, training, management, and quality control are up to you
- You can end up spending a lot of time getting the relationship right
- If the freelancer leaves, you start over
- No guarantee of IT security.
Cost of a Managed Virtual Assistant Service
Managed virtual assistant service providers offer a high-touch model where the service provider takes on the tasks of hiring virtual assistants, training and onboarding them, and managing them day to day. The cost of a virtual assistant through a managed service is typically a flat monthly fee.
Prialto, for example, offers 55 hours of a virtual assistant's time for a fixed price of $1,500 per month, or about $24 per hour, or a fully-dedicated assistant for $3,600, around $25 an hour.
In a managed service model, virtual assistants are full-time employees of the service providers, who give them comprehensive health insurance and other benefits. In Prialto's case, assistants have access to ongoing education and training, secure technology, QA, and an internal management structure dedicated to their (and the client's) success.
A significant benefit of a managed service is that the client bears no added management burden. Account managers work closely with clients to document their processes, allowing the virtual assistants to be trained on client systems prior to engagement. This ensures that assistants are prepared and able to start contributing immediately. Client feedback is directed to the account manager, who then coaches and supports the assistant accordingly.
Managed virtual assistant services are perfect for clients needing to handle repetitive tasks that can be standardized and outsourced, like calendar management, phone screening, data entry, and other routine activities.
As the client-assistant relationship develops and the assistant learns more about the clients' businesses, they can expand their services, create new processes, and boost their contribution to client productivity.
There are also risks associated with this model, due to the nature of the engagement:
- Not suitable for one-time projects or short-term engagements
- Clients may be unable to document their processes
- Don't have enough work for the hours purchased
Specialist Vs. Generalist Virtual Assistants
Like an in-house employee, the cost of virtual assistant services often varies depending on the skills you need. Most virtual assistant providers position themselves as either generalists or specialists. The former can handle most process-oriented tasks, while the latter is suited for advanced projects in a specific area of expertise requiring specialized skills.
Here are some examples of the different types of tasks you can offload based on a virtual assistant's skillset:
Marketing and Website Maintenance
When most people think of a virtual assistant, marketing support doesn’t necessarily come to mind. However, offloading tedious tasks allows you/your team to focus on driving your marketing strategy. Here are some of the tasks you can offload, depending on whether the VA is a specialist or not:
Generalist:
- Schedule content that your team created
- Set up routine workflows for activities such as monthly newsletters
- Repeatable social media management tasks such as replying to messages, scheduling posts, searching for ideas
Specialist:
- Turn your blog posts into social media content
- Add meta and/or schema data to your articles and other advanced search engine optimization marketing tasks
This type of support includes a wide range of activities and software, so if you choose a specialist, expect to pay higher rates for niche software or industry-specific tactics.
Sales & CRM Management
Given that salespeople spend as little as 30% of their time selling, using a virtual assistant for sales support is a no-brainer.
The type of virtual assistant you should move forward with varies based on what you want to offload:
Generalist:
- Set up outbound campaigns and schedule the meetings that come from them
- Keep your CRM updated by monitoring your sales team’s calendar and updating the related records
- Data entry projects to keep your customer relationship management data accurate
Specialist:
- May perform duties traditionally done by an SDR, such as outbound cold calling
Since a virtual assistant focused on sales support possesses skills that are between those of a generalist and an SDR, investing in them might not be justified unless cold calling is necessary.
General Operations Support
Delegating many logistical tasks essential for your business to run smoothly is a simple and cost-effective method to enhance efficiency.
Generalist:
- Complete manual workflow steps that you haven’t been able to automate, such as copying data between systems that aren’t integrated or whose integration has limitations
- Coordinate meetings and send reminders to help keep people on track
- Answer incoming phone calls
Specialist:
- Tackle operational tasks that are not standardized and require a significant degree of judgment
- Lead up project management for complex projects requiring internal knowledge
Whether investing in a specialized virtual assistant is justified depends on the standardization of your processes. Remember, many tasks you see as ambiguous can often be standardized. Our Engagement Managers frequently assist clients in developing processes, enabling them to delegate more tasks to their virtual assistants.
Executive Administration
The distinction between a generalist and a specialist virtual assistant is similar to that of an entry-level versus a senior in-house executive assistant. The former handles standardized tasks and commands a lower salary, while the latter manages complex, nuanced projects and receives a higher salary.
Generalist:
- Assist with process-oriented administrative tasks such as scheduling meetings, coordinating travel, and filing expenses, among others.
Specialist:
- Perform duties expected of a senior in-house executive assistant, such as preparing presentations and drafting communications on your behalf
Which Skillset Offers a Better ROI?
Deciding if a specialized virtual assistant is worth the higher expense depends on whether you prefer to delegate advanced tasks or manage them internally. Usually, hiring a generalist offers a better return on investment because they can handle a wide variety of repetitive tasks, freeing up you and your team to concentrate on projects that utilize your skills.
US-Based Vs. Offshore Virtual Assistants
Among virtual assistant services offering the same model and skills, there is still a significant range in costs based on location. For example, a freelance virtual assistant in India might charge $7 per hour while an assistant with comparable skills in the United States may charge $40 per hour.
There are often differences in the level of knowledge about local business norms, which can make a difference, particularly if you’re looking for executive administrative support.
This includes:
- The tone, brevity, and overall communication style used in emails and other messages
- The types of restaurants that are appropriate for different kinds of business dinners
- The preparation needed for conferences and other types of events
Considering this, partnering with a company that provides a hybrid onshore/offshore model is usually the most effective choice. For instance, at Prialto, our virtual assistants operate from offices in Guatemala, Kenya, and the Philippines, while our Engagement Managers are located in Portland, Oregon.
They serve as consultants for our clients and mentor our virtual assistants. This strategy guarantees our virtual assistants deliver highly nuanced support at a cost lower than many US-based options.
Weighing Costs and Risks
As noted earlier, the price of a virtual assistant depends on the provider's business model, skills, and location. The specific combination of these factors you need will be based on your budget and the type of work you are delegating.
If you require assistance across various parts of your business, combining different providers might be ideal. For instance, you could hire a generalist virtual assistant through a managed virtual assistant service to handle daily administrative and operational tasks, while also engaging a few specialized freelancers for uncertain or short-term projects.
Curious how a Prialto managed virtual assistant can help you and your team achieve more? Read this guide.