When doing cost comparison of using The Original Assistant, as opposed to in-house staff. please make sure you look at all the calculations.
|Virtual Administrative Consultant|
|Average Hourly Rate of Pay||$20.00||$34.00|
|Fringe Benefits @ 35%
(Health/Dental/Life Insurance, Retirement Plans)
|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||$34.00|
|**Hours Per Year||2,080 hrs.||780 hrs.|
|TOTAL Annual Labour Cost||$76,960.00||$26,520.00|
Difference = $50,4400.00 per year
By hiring a Virtual Administrative Consultant… You SAVE over $50,000.00 per year!
Even though the virtual Administrative Consultants’ 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. Virtual Administrative Consultants are usually more experienced, more efficient, and better connected than the employee, and you will need to devote far less time to the project to get the same results, only 780 hours a year versus 2,080 for the new employee.