How Much Do Executive Assistants Make? Detailed Overview

Shall we continue to talk about the profession of an executive assistant to a manager?

So, among all the questions discussed on this topic, there is one important one – how much do executive assistants make. 

Read on, and you will learn even more about the personal assistant to the head and their duties. 

And most importantly, how much does a personal assistant make on a remote job, and whether their salary can really be 1-2 thousand dollars at today’s exchange rate?

The Essence of the Modern Executive Assistant

Virtual executive assistants play an important role in any business.

They allow busy executives to maximize their time to move the business forward and minimize tasks that distract.

The assistant runs errands for the head of the organization and helps interact with business correspondence and personnel.

The specialist generates primary documents, organizes the distribution of incoming calls, schedules the reception of clients and employees of the company, and helps to control the performance of current tasks.

A competent assistant should know the basics of personnel management, as well as the principles of personnel records management and organizational support of the activities of the head of the company.

Virtual assistants are growing in popularity as CEOs around the world become more comfortable with remote workers.

Job Duties of a Personal Assistant

It’s no secret that an executive assistant prepares reports, organizes travel and business trips for management, and generates and coordinates schedules for business meetings and appointments.

The specialist coordinates incoming and outgoing calls, receives and sends letters, and deals with office management. 

But in addition, the assistant’s duties include:

  • Accounting, registration, storage, and processing of documents
  • Maintaining electronic document flow and business correspondence
  • Receiving and meeting clients/business partners
  • Ensuring the administrative and economic activities of the organization
  • Preparation of analytical and reference materials
  • Fulfillment of direct orders of the head
  • Information support from the head
  • Organization of business trips, outings, and business trips
  • Planning the working schedule of the manager
  • Organizing minutes of meetings
  • Control over fulfillment of assignments and deadlines for reporting

In addition, a personal assistant may be engaged in paying personal accounts of the head, ordering office supplies, and various services, and studying information about the goods that the firm plans to purchase. 

The assistant should keep track of the timing and amount of funds returned to the manager’s or company’s account. 

This is the first person with whom every visitor to the firm gets acquainted, he must be aware of all the affairs of the director and each employee.

Stages of Growth for an Executive Assistant

It is considered one of the most unusual professions and has a career path uncharacteristic of many other internet jobs.

At any stage of growth, the salary will depend on the desire and effort of such an employee.

To begin, let’s look at the skill levels of assistants in ascending order: 

1. Beginner With No Experience 

This is a person who has just started thinking about working remotely as an executive assistant.

Typically, these people have not yet made money online and are just starting on their career path. 

A complete beginner starts taking all sorts of assignments helping entrepreneurs and gradually builds a relationship with one of them to become their permanent personal assistant. 

With or without experience, a complete newbie has to start somewhere, and the first step for almost every remote employee starts with freelancing.  

However, a newbie may already have some life skills that can be applied to remote work.

2. Assistant With Basic Knowledge

Let’s call this the first stage in the personal assistant profession. This is when a person has already had experience and is a regular employer.

Here is a sample list of tasks that this person will be able to perform:

  • Administration of social networks;
  • Announcing events and products;
  • Editing and designing necessary materials;
  • Publications, mailings, phone calls.

3. Experienced Personal Assistant

This is usually a broader range of tasks and full-time employment.

The employee is well acquainted with their duties and it is not difficult to quickly get into the work process.

Most often, entrepreneurs are looking for just such a person for their business.

4. Qualified Assistant to the Executive Manager 

Such a specialist already professionally helps to manage a team of freelancers and employees.

The assistant can independently lead projects and support the entrepreneur’s business at different levels.

To grow to this level, it will take more than one month, maybe even more than one year. The employee needs proper education and good experience.

The last of the stages can be the most lucrative for the employee.

Cost of Virtual Executive Assistant 

The cost of a virtual executive assistant is usually an hourly rate. This rate depends on how you hire the assistant and where he or she is located – in your country or offshore

There are no fixed pay rates for this position. 

But it is important to realize that a salary that is too low will only attract newbies with no experience, while a salary that is too high will make you wary.

Potential candidates may find such an ad unreliable.

There are 3 ways to hire a virtual assistant with different price points, risks, and benefits:

  • Directly hire a part-time or freelance employee;
  • Hire through a managed service for virtual executive assistants;
  • Hire a virtual executive assistant through a contract agency.

The Cost of Directly Hiring a Virtual Executive Assistant

Simply put, directly hiring an employee will be the least expensive option, especially offshore.

Direct hire rates start at:

  • $2 per hour for these virtual assistants
  • $20 per hour for assistants residing in the United States

Note that these prices don’t differentiate between a virtual assistant and a virtual executive assistant.

While direct hire may offer the lowest hourly rate, it will cost you the most time.

You’ll need to recruit staff, hire them, and provide all the day-to-day work. If you’re already overwhelmed, make sure you know what you’re looking for to find the right person. 

Also, keep in mind that your remote virtual assistant will be working from your home office and network as well as your personal computer.

If you give this assistant access to any sensitive personal or company information, you’ll need to ask about the security measures taken by the assistant.

Finally, the risk of non-compliance and quality control of the assistant’s work falls on you. An unsuccessful hire means you’ll have to start all over again.

The Cost of Managed Virtual Assistant Services

When you use an executive-managed virtual assistant service, you are not hiring a virtual assistant, but a company.

Managed virtual assistant service providers hire, train, and optimize offshore virtual assistants on your behalf. 

Managed service providers typically offer several types of virtual assistants for different functions:

  • Executive Administration;
  • Sales and marketing support;
  • Back office operations.

Assistants are employees of the service provider. An account manager supports the executive functions of the assistant by documenting your processes and training the assistant on preferred workflows, while an internal manager monitors execution. 

Managed virtual executive assistant services start at $25 per hour.

The Cost of Hiring Virtual Executive Assistants Through the Agency

There are hundreds of agencies that suggest you get in touch with assistants all over the world. Not all of them specialize in executive assistants. 

The advantage of using HireUA is that some of the work of vetting candidates is done for you.

The agency vets the candidates and has extensive experience in executive assistant recruitment. 

This removes some of the risk of a failed hire from you, as well as much of the time spent recruiting and interviewing.

Plus, you’re usually paying the agency, which eliminates overhead for HR.

So, all the necessary training, performance management, and quality control are left to you.

how much do executive assistants make

How to Manage a Virtual Executive Assistant

Management involves training. While the assistant may have experience with the software platforms you use, he or she may still need training on your processes and preferences for using these tools. 

You’ll need to train the executive assistant on your processes and preferences:

  • How to send meeting invitations and confirmations
  • The time of day you prefer to schedule certain types of meetings
  • How long meetings should last
  • How much free time should be allowed between appointments
  • Priority contacts for email and phone responses
  • Your preferred time for responding to messages
  • All of your travel preferences
  • Executive assistant training schedule

In a direct hire or agency setting, you or someone from your organization should train and manage the assistant by learning all the processes.

Factors Affecting Executive Assistant Salary

While there is no one-size-fits-all scheme for determining executive assistant salary, there are several factors that can determine the cost, including:

#1: Previous Experience

Understandably, the more years of experience an executive assistant has, the more you’ll pay.

It’s important to consider both the years of experience and the specific roles the assistant has held.

#2: Remote Vs. In-Person

If you need an assistant to bring you coffee or handle other personal tasks, and you live in a high-cost region, you’ll have to pay more for an in-person advisor.

An in-person consultant can easily cost 18-26% more than their base salary.

Conversely, there are some remote hiring options where you’re talking to a virtual assistant.

#3: Fractional & Full-Time

Do you need someone for just a few hours or do you want your assistant to be available around the clock?

Part-time or fractional employment for an executive assistant can be a more efficient use of company resources, as you only pay for the time you need.

#4: The Degree of Support You Need

While this factor often correlates with the advisor’s level of experience, it is more closely related to how much you should trust your advisor to represent your interests. If you just need someone to run errands, it will often cost less than finding an advisor who can act as a trusted partner.

#5: Location

Executive assistants in large cities and metropolitan areas typically earn 15-24% more.

Direct hire is almost always more expensive, even if the employee works remotely or part-time, as you’ll have to pay taxes, benefits, and more.

Plus, you’ll incur costs to find, hire, train, and retain the consultant. 

Hiring a contractor through an agency can be less costly, and you won’t be bound by the obligations and costs associated with hiring.

Get an experienced, high-level executive assistant without the headaches with HireUA.

Assessing the Assistant’s Performance

The requirements for an assistant manager are quite strict.

To assess the assistant’s degree of qualification, it is necessary to find out whether he or she can:

  • Fulfill tasks and supertasks (For this purpose, a scale from 0 to 10 can be drawn up and grades can be given);
  • Understand the issues they are assigned to solve, work with people, and understand their psychology;
  • Compose documents competently, notice inaccuracies and mistakes, and correct them on time;
  • Show resilience in unusual circumstances, whether he knows how to get out of such situations.

Of course, each employer has its criteria for assessing the effectiveness of the assistant’s work.

The only thing that is common to all is, perhaps, an assessment of the employee’s degree of motivation.

The higher the motivation of the assistant, the better he or she will fulfill their functional duties, and the more cases can be assigned to them without worrying about the risk of mistakes and errors.

Otherwise, the requirements for an assistant depend on the nature of the company in which he is to work, as well as on the personal ideas of the manager about what qualities their assistant should possess.

How Much Do Executive Assistants Make: Conclusion

Finding a helper is not as easy as it seems. You may need to set aside money and time to train an assistant.

But despite this, the head of the company still can’t do without help. 

In the modern world, time is valued much more than money, and a personal assistant can save a lot of time.

A virtual executive assistant can be a lifesaver for busy executives, giving back those 16 hours a week that are spent working. 

Since the assistant will be your representative for internal and external contacts, it’s important to choose the right one – and HireUA can help you best here.

Trust HireUA to connect you with the perfect assistant and book a discovery call right now!

About The Author

Anastasia Marinich

Anastasia was born in Odesa and realized at an early age that her work should be creative & enjoyable.

While studying marketing in her hometown, she moved to Germany and continued her education at 2 universities at the same time.As the saying goes "Choose a job to your heart's content and you won't have to work a day of your life!"

Anastasia obtained a degree in Art and has a knack for it. She takes the same approach to writing. Each text is like a picture with a special message and mood. Everyone will find something useful for themselves!

Today Anastasia lives and works in Germany. She travels a lot, practices Ashtanga yoga, learns new things, and continues her creative journey with the HireUA team!
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