How Much Does An Executive Assistant Cost For A Small Business?
The cost of an Executive Assistant for a small business can vary depending on several factors, including the location of the business, the experience and qualifications of the assistant and the number of hours they are needed.
In general, the average Executive Assistant in the United States costs an average of $64,200 per year.
However, the cost can be lower if you hire a part-time Executive Assistant.
Part-time Executive Assistants typically work 20-30 hours per week, and their hourly rate is typically lower than that of a full-time assistant. Executive Assistants can be even more cost-effective, as they can work from anywhere in the world and their hourly rate is typically lower than that of an in-person assistant.
On average, an Assistant can cost anywhere from $2,000-$5,500 per month, depending on the specific needs of your business. If you need an assistant with specialized skills or experience, you will likely pay more.
What Does An Executive Assistant Do?
Simply put, an Executive Assistant provides administrative, organizational and personal support to executives.
Here are some typical tasks that Executive Assistants do – and don’t do …
What Do Executive Assistants Do?
What Do Executive Assistants Not Do?
Why Your First Hire Should Be An Executive Assistant
As an entrepreneur, you're a visionary. You may even use terms like ‘cat-herder,’ ‘jack-of-all-trades’ and ‘superstar’ to describe yourself.
But just because you can be practically all things to all functions necessary for your emerging enterprise, it doesn’t mean that you should be.
The reality is, you need help – a right-hand man or wing-woman to assist you where it matters most. That’s why an Executive Assistant should be your business’s first hire. He or she will become the relief valve that enables you to make the highest and best use of your limited time, fast-tracking progress, motivating productivity and refocusing priorities.
Hundreds of growth-focused proprietors, C-level executives, and corporations across the country have added Executive Assistants to their teams to get more done.
And you can, too. So while it may seem cost prohibitive to have an Executive Assistant, the indirect costs of doing it yourself could prove more costly.
The Indirect Costs of DIY Executive Assistant
Hidden expenses may incur when you choose to do your own Executive Assistant work.
These costs can be hard to quantify, but they can add up over time. Some of the indirect costs of DIY Executive Assistant work include lost productivity, increased stress, equipment, training and opportunity costs.
Lost productivity: Lost productivity occurs when you take time away from your core responsibilities to do your own Executive Assistant work. This can lead to missed opportunities and decreased output.
Increased stress: Stress increases when you’re responsible for managing your own calendar, scheduling meetings and following up on tasks. This can lead to burnout and decreased focus.
Equipment costs: Equipment costs may be incurred if you need to purchase or rent equipment to help you with your DIY Executive Assistant work. This could include a computer, printer, software and other office supplies.
Training costs: Training costs may also be incurred if you need to learn how to do your own Executive Assistant work effectively. This could include taking online courses, attending workshops or hiring a consultant.
Opportunity costs: Opportunity costs occur when you are spending time on DIY Executive Assistant work that could be spent on other activities that could be more productive or enjoyable. This could include networking, learning new skills or pursuing hobbies.
Because the bottom line is that we all have an Executive Assistant. It’s true. We all have someone to read through emails, sort and reply to them. Someone to book meetings and travel, and organize tasks. All of us.
The simplest way to view the indirect cost is to ask yourself: “Are you that assistant?”
And if the answer is a defeated ‘yes,’ then the next question to ask yourself is if you can afford your own hourly rate to continue to own those tasks instead of focusing on those tasks which only you can own.
How To Hire The Right Executive Assistant
Executive Assistants are becoming increasingly popular as businesses of all sizes look for ways to free up their time and focus on their core competencies. EAs can provide a wide range of services, from administrative tasks to customer service to marketing.
If you're considering hiring an EA, there are a few things you need to know.
First, it's important to define your needs. What tasks do you need help with? How much time do you need freed up? Once you know your needs, you can start looking for an EA who has the skills and experience to meet them.
There are a few different ways to find an EA. You can search online job boards, use an EA matching service, or ask for referrals from friends or colleagues. Once you've found a few potential EAs, be sure to interview them to make sure they're a good fit for your needs.
Hiring an EA can be a great way to improve your productivity and efficiency. By freeing up your time, you can focus on the things that matter most to your business.
Here are some of the benefits of using BELAY's Executive Assistant services:
- Flexibility: Working with a BELAY EA provides a more agile, flexible, and fluid workforce that grows as you grow.
- Cost-effectiveness: BELAY's services are often more cost-effective than hiring full-time employees.
- Expertise: BELAY's EAs have a wealth of experience in a variety of areas and industries.
- Scalability: BELAY's services can be scaled up or down as needed, so you can grow your business without having to hire more employees.
Stop Doing It All Yourself. We Can Help.
You’re thinking it’s finally time to hand over the reins to someone else — and we’re here to help you do just that. In fact, we have an ultimate guide on just that.
It’s time you stop doing all of the work yourself.