September 18, 2018

How Much to Charge As a Virtual Assistant

One of the toughest decisions when starting out as a virtual assistant is learning how much to charge your new potential clients. An hourly rate needs to be determined for project quotes when you meet new business contacts and discuss project work. Depending on your experience, background, location and project, your pricing as a virtual assistant might vary. A common mistake is to underestimate the value that you are worth. To get started take a look and calculate your expenses. You at least want to get a base price by making sure what you charge covers your expenses:

Tally up what you’re paying out and make sure to consider:

Office supplies, equipment, and software
Marketing (Internet and Offline)
Rent/Mortgage
Utilities (Electricity, Gas, Telephone, Water, etc)
Taxes
Insurance (Business, Health, etc.)
Web Hosting and Web Maintenance
Travel and Transportation
Continuing Education

As a virtual assistant you are now responsible for the above expenses and need to work those into what you charge clients. Start out by researching what you would be paid as an in-office employee. Think about that hourly rate and then consider that you cost more to the company because they pay things such as benefits, equipment costs and health insurance. Your rate needs to be 30 – 40 percent more than that hourly rate to be charging a sufficient amount for your work.

Additionally you will need to consider your time spent and be careful to not underpay yourself. You also want to make your hourly rate competitive for your services. Charge too much and you’ll be automatically kicked out of consideration, charge too little and you’ll be taken advantage of.