How to Set your Rates

Choosing how to structure your rates as a Virtual Assistant is one of the most critical steps towards success. If you charge too low a fee, you get stuck with "low-rate" clients and work yourself into the ground. If you charge too high a fee, you have "NO" clients and and empty bank account. Finding the right balance between affordability and profitability is the key. Sit down and take some time to examine your potential overhead and start-up costs. What equipment and software will you need? Next, decide how much income you will personally need to clear in order to stay afloat. Remember that not every single hour you work will be "billable" - so there will be costs involved in running your business like the time you need for marketing, bookkeeping, call backs, etc.

I recommend researching other virtual assistant websites and taking a look at what they're charging. Some may not publish their rates publicly, so you may need to enter a subscription form in order to view them but that allows you to perhaps get a copy of their newsletter each month. Rates will vary according to each Virtual Assistant's level of experience and services. You don't have to charge the same rate as other VAs, but if your rates are significantly higher or lower, you'll need to deal with the consequences of each situation.