One of the best resources I’ve found for Virtual Assistants is the Virtual Assistant Networking Forum. There are lots of opinions, suggestions, questions and everything in between. I came across this comparison analysis and thought it was interesting enough that I wanted to share it.
Full-time Employee vs a Virtual Assistant Cost Comparison
Want to SAVE over $60,000 in business expenses this year?
If you answered yes, read on …
A cost comparison for a full-time employee
versus a Virtual Assistant
| COST COMPARISON |
Full-time Employee |
Virtual |
| Hourly Rate of Pay |
$20.00 |
$35.00 |
| Fringe Benefits @ 35%(Health/Dental/Life Insurance, Retirement Plans) |
7.00 |
None |
| Overhead Rate @ 50%(Office Space, Equipment & Office Supply expense, UI Insurance, Worker’s Compensation, Overtime Pay, Administration Costs) |
$10.00 |
None |
| Total Effective Rate of Pay |
$37.00 |
$35.00 |
| **Hours Per Year |
2,080 hrs. |
480 hrs. |
| TOTAL Annual Labor Cost |
$76,960.00 |
$16,800.00 |
Difference = $60,160.00 per year
By hiring a Virtual Assistant…You SAVE over $60,000.00 per year!
Although the Virtual Assistant’s hourly rate
is more than the employee’s rate in the first place, you save the cost of benefits
and overhead that would have to be applied to the new employee’s wage. And,
because Virtual Assistant’s are usually more experienced, more efficient, and
better connected than the employee, you’ll need to devote far less time to the
project to get the same results, only 480 hours a year versus 2,080 for the
new employee.
**Remember,
with a Virtual Assistant, you only pay for the time on task by the minute! No
more paying for socializing, hour long lunches or frequent trips to the washroom.
Your employee’s 8 hour day can be
crunched into 3-4 hours with a Virtual Assistant.
Simply put, you should contract with a Virtual
Assistant because it’s more cost-effective and Virtual Assistants go above and
beyond the normal assistant’s duties to impact your own productivity. No task
is too big or small for a Virtual Assistant to handle. Even if you only have
1 hour of work a month for a Virtual Assistant to do, a VA can (and will) do
it.
For more information – email info@totalresourceconnection.com
*Souce: Virtual
Assistant Networking Association (VANA) Cost Comparison
The Largest Global Network Online for Successful and Aspiring Virtual Assistants
