Efficient Virtual Executive or Personal Assistant in Maryland
Having a Virtual Executive (VE) Means Less Overhead and More Productivity!!
Want to SAVE over $40,000 in business expenses this year? If you answered yes, read on …
|COST COMPARISON||Full-time Employee||Virtual Executive|
|Hourly Rate of Pay||$20.00||$76.00|
|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)
|Total Effective Rate of Pay||$37.00||$76.00|
|**Hours Per Year||2,080 hrs.||480 hrs.|
|TOTAL Annual Labor Cost||$76,960.00||$36,480.00|
Difference = $40,480.00 per year
By hiring a Virtual Executive…
You SAVE over $40,000.00 per year!
Although the Virtual Executive’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. In addition, Virtual Executive’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 Executive, you only pay for results, not tasks by the hour! No more paying for socializing, hour long lunches or frequent breaks.
Your employee’s 8 hour day can be crunched into 3-4 hours with a Virtual Executive.
Simply put, you should contract with a Virtual Executive because it’s more cost-effective and Virtual Executive’s go above and beyond the duties of a normal assistant to impact your own productivity. No task is too big or small for a Virtual Executive to handle. Even if you only have 1 project a month for a Virtual Executive to complete, your VE can (and will) do it as efficiently as possible.
*Source: Virtual Assistant Networking Association Cost Comparison