How Much Do Executive Assistants Make?

How Much Do Executive Assistants Make

Executive assistant jobs require a high level of skill and experience.

However, you are still required to start as an entry-level executive assistant and your pay increases as you gain experience and new skills.

In this article, we will explain the different influencing factors determining the salary level of an executive assistant.

Factors such as location, if they are part-time or full-time hires, and of course, their skill set.

What Influences The Salary?

There are four main things that influence an executive assistant’s salary.

Experience

An executive assistant salary in Australia starts at a basic average salary and increases yearly.

The longer the executive assistant stays with your company, the more money they can expect to be paid.

However, sometimes you will need to hire an executive assistant with a few years of experience doing the job with another company. In this case, you can expect to pay them a lot more than an entry-level executive assistant due to their skill levels and experience.

As a company, you will have to weigh whether paying an average executive assistant salary is cost-effective or opt for advertising for entry-level positions.

Skills

What executive assistants earn will always depend on the skills they can offer your company. The lower the skill levels, the less the starting salary will be.

However, most executive assistants expect to further their careers by gaining more skills to increase their salaries. After all, nobody wants to stay on the lowest salaries.

With the right skills, executive assistants can command salaries far exceeding the national average salary paid to general office workers in Australia.

An executive assistant makes more money based on experience, but experience counts for little if you don’t possess the right skills.

You can expect to earn a higher than average salary in Australia as an executive assistant if you are not limited to just answering phone calls and inputting data.

Location

Where you live in Australia will determine how much you will earn as an executive assistant. For example, someone living and working in New South Wales can expect to earn a higher than average annual salary than someone who lives and works in Western Australia.

Living and working in a large metropolitan area such as New South Wales means executive assistants get the highest salary due to a higher cost of living.

Someone based in Western Australia won’t have to shell out for high rent or mortgages on their homes.

Therefore their average salary is at the lower end of the pay scale.

Tasks

All executive assistants should have the skills to be able to perform tasks that are listed within the job title. However, when you are responsible for an entire department, you are often required to do much more than the tasks listed on your job title.

Tasks such as calendar management, email management, travel planning, project management, and expense management may all be part of the job title, but many other tasks won’t be.

The invisible tasks often require the most skill, knowledge, and experience.

These tasks include dealing with staffing levels when people are sick or on annual leave, managing personality clashes within your team, and keeping your team happy and motivated to create a good working environment.

Cost Effective Ways To Hire An Executive Assistant

Hire An Assistant From The Philippines

Hiring an executive assistant from the Philippines will prove far more cost-effective than hiring one based in Australia.

The average salary of someone from The Philippines is far lower than anyone based in Australia, so that means you can make a lot of savings for your company.

Consider On-The-Job Training

An excellent way to save money when you hire an executive assistant is to provide on-the-job training. You can hire an administrative assistant with less experience, so you don’t have to pay them the highest wage from the start.

Providing on-the-job training also means you can train them to your company’s specific needs.

Hire A Part-Time Assistant

As we know, what executive assistants earn in Australia can take a big chunk of your annual wage budget.

Therefore, an excellent way to hire an executive assistant is part-time.

By hiring part-time, you are paying less than the average salary of an entry-level executive assistant for a person who may have a higher skill set and more years of experience.

Also, hiring someone part-time allows you to assess your company’s needs and allows you the flexibility to increase and decrease the number of hours they work if needed.

Hiring part-time workers to do executive assistant jobs is a good idea when you need general managers to oversee a new short-term project or contract.

Let Us Help You Find An Executive Assistant

As you have read, there are lots of things to consider when working out the salary of executive assistants, a lot of the factors surround skill level, experience and the wage budget you have.

The best way to significantly save on salary costs of executive assistants is by hiring a virtual one. But the process is time consuming and quite different to hiring in-house employees.

So, if you don;t have experience with this, then let us take care of it in a fast and professional way.

Give us a call today and find out how we can source, hire, train and manage your executive assistant for you.

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More businesses around the world are outsourcing services to virtual assistants. From small- scale businesses to Fortune 500 companies, many have discovered and acknowledged why contracting virtual assistants is a good business strategy.

Virtual assistants are Internet- based professionals who are contracted to handle a specific task or set of responsibilities. They work from a remote location; usually from home and are generally considered self-employed or proprietors of a business that offers virtual assistance services.

Over the last 15 years, outsourcing has grown to become an important component in business development strategy. What was once viewed as a stop- gap measure to address cost reduction has evolved into a process that can actively contribute to revenue generation.

The exponential growth of outsourcing corresponds with increasing turbulence in the global economy. Political regimes are changing; new foreign policies are being enacted and economies are re-aligning their resources.

There is a growing trend among companies to integrate a remote staff member within their work force. In 2011, Yahoo! CEO Marissa Meyer introduced a remote worker plan where 10% of staff worked from home. A few years later Meyer increased the distribution to 15%.

While Meyer chose not to maintain the program, other companies such as United Health Group, AETNA, IBM, AMEX and Xerox started their own remote worker programs.

Contracting the services of a real estate virtual assistant can help with those non dollar productive tasks. From taking and making calls, preparing contracts, updating lists, arranging inspections and marketing.

If you can’t manage time efficiently, your productivity will suffer and ultimately affect your agency’s profitability.

There is an option that will enable you to exponentially increase your productivity.

The Virtual Assistant was once the best kept secret of successful entrepreneurs. However once Tim Ferris, Michael Hyatt and James Schramko shared how their online employees allowed them to grow their businesses, others wanted to experience the same successes as well.

But as with most professions, not every candidate who signs up can get the job done.

Increasing demand for virtual assistance work has blown open the doors of opportunity for those who want to cross over to the online profession.

If you want to maximize the benefits of outsourcing, you may want to outsource to Philippines. It has been the primary destination for global outsourcing since 2013 and its industry continues to grow at an annual rate of 20%. If you want to know “why”, here are 7 reasons you should outsource to the Philippines:

High Literacy Rate – At 98%, the Philippines has one of the highest literacy rates in the world. This is quite an achievement considering the Philippines is essentially a developing economy.

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