Setting Your VA Rates

Setting your rates as a virtual assistant is one of the most rewarding and daunting tasks. It is a culmination of your training, skillset and value - all important things, but sometimes difficult to put a price on. We’re here to help you understand your worth and realise the value you offer is deserving of a great rate. 

Understanding Your Value

You are valuable. Your work is valuable. You deserve to be paid fairly for it. Understanding our value doesn’t always come naturally. But it can be worked on. 

The first part of understanding your value is incorporating a positive money mindset and personal development - it’s why we have a full module on these aspects of business in the ROCKET VA™ Academy, they are key pieces to becoming an entrepreneur. And this is a great place to start when thinking about setting your rates, or as you’re getting ready to increase your rates. 

Some of our team’s favourite money mindset books are: 

• Rich Dad, Poor Dad by Robert Kiyosaki

• The Soul of Money by Lynne Twist

• Secrets of the Millionaire Mind by T. Harv Eker

• Think and Grow Rich by Napoleon Hill
• Atomic Habits by James Clear

And up next on our list to read are The Abundance Code by Julie Ann Cairns and Worth It by Amanda Steinberg.

Remember this is an ongoing process, so keep going with your personal development just like you would keep growing your business. 

The other part of understanding your value is actually taking into consideration your skills, experience, niche, and any unique selling points (USPs). 

• Assess Your Skills and Experience: Think about the level of support you can offer (are you a seasoned VA or is this a new career)? Do you have previous experience in any specialised areas such as graphic design, copywriting, or social media management, where you can charge more than for general administrative tasks, or maybe you trained through The ROCKET VA™ Academy and have a good understanding of various skills.
• Consider Your Niche: Determine if you have a specific niche or target market (e.g., real estate, legal, e-commerce) that allows you to command higher rates due to specialised knowledge or experience in that industry.
• Highlight Your Unique Selling Points: Identify what makes you stand out—such as certifications, additional languages, or unique tools or software knowledge. For example, we welcomed ADHD expert Max Lawrence as a guest for our ROCKET VA™ International Community masterclass series, and some of our alumni have become certified ADHD VA’s to best support business owners who have ADHD. Don’t shy away from the hard work you’ve put in to make yourself stand out!

Researching Market Rates

There is no universal base rate for a virtual assistant; you’ve probably seen rates from £10/hour to upwards of £50/hour. And rates will change based on the region you’re in - so the US might differ from the UK from the EU from AUS. Don’t make the mistake that $30 = £30. 

Researching your market rates is giving yourself an idea of what you can reasonably charge. So check your industry averages in your region for a benchmark. 

Another really great way to know your market rates is to look at your competitors. Just like any other business/industry would do. Check out websites and package offers, look at job postings or profiles on freelance platforms, as it will give you a good idea of what others are charging for certain tasks and at different price points. 

Personally, we find a great starting rate in the UK is £25/hour and in the US $30/hour for a new VA. This is the base rate for all our job opportunities for our alumni in the ROCKET VA™ International Community.

Pro Tip: always add in scope to grow in your contracts - in terms of hours and pay (you could add in a 3-month review to discuss this!)

Determining Your Base Rate

So we mentioned that £25 GPB/$30 USD hour is a great initial base rate for our newly trained VAs, but how did we come up with that?

There are a few considerations to think about when determining your base rate:

• At a minimum: Consider your desired monthly income, the number of hours you plan to work, and your business expenses (software, taxes, insurance, etc.). 
• Account for Non-Billable Time: This is often missed out! Remember to factor in time spent on non-billable tasks like marketing, administrative work, and professional development. This ensures your rates cover all aspects of your business, not just client work.
• Adjust for Taxes and Overhead: Include taxes, software subscriptions, internet costs, and other overhead expenses in your calculations to ensure your rates are sustainable and profitable.

Don’t apologise for being profitable! So many small business owners and entrepreneurs only feel like they can cover their ‘actual work’, but really think about your VA overhead and expenses like a hairdresser would.

A hairdresser could cut hair with just a pair of scissors and a comb/brush right? But they don’t charge £5 for a lady’s cut because they have to factor in chair hire, utilities, hair products, towels, capes, styling tools, foils, dyes, their own time, and more! It’s the same sort of principle for our own businesses. 

Choosing a Pricing Model

A way to offer choice to your clients, if you’d like, is to offer different pricing models. This method can help to offer options for different client budgets. So here’s a few options you’ll want to think about, and how you want to price them.

• Hourly Rates: Common for new VAs or those working on tasks that vary in complexity and duration. This can start at your base rate. It's a flexible method but we do recommend being clear on tasks and tracking your time (Toggl is great!) to avoid overworking. 
• Project-Based Pricing: Charge a flat rate for a specific project (like setting up a website or organising an email marketing campaign). This approach works really well for well-defined, one-off tasks and can be more lucrative if you become efficient at the service provided. Project-based pricing should be super clear on outlined tasks and within a given timeframe to avoid dragging out. 
• Retainer Packages: Clients pay a set fee for a specific number of hours or tasks each month. This model provides consistent income and helps build long-term relationships with clients. Retainers work well when both parties understand the scope and frequency of work. To value your time and effort, it’s a great idea to have a minimum retainer, such as 10 hours. 
• Bundled Packages: Combine complementary services (e.g., social media management, content creation, and email marketing) into packages that provide more value at a slightly higher rate. This encourages clients to choose higher-priced packages while getting more for their investment, and allows you to focus on one area of their business.  

Handling Objections or Negotiations

If a client objects to your pricing, that’s okay! What we don’t want is to balk at the first objection, but rather piece together a well thought out justification for your pricing without apologising. 

Confidently explaining our rates highlights our expertise as VAs. We can outline past experience, client testimonials, and ultimately focus on value not cost. 

If a client finds trouble committing to your initial proposal, you can offer one of your other pricing models as an alternative. Don’t be afraid to ask what their budget is for your support so you can best prepare a suitable option. And rather than compromising straight away, you can always offer a paid trial period at your set rate for them to get a sense of what it would be like working together. 

To minimise objections, detail scope, expected outcomes, and tangible results in your business proposal to create transparency. This can help the client to understand what you’ll be giving them, and how the time you spend on their required tasks frees them up for other aspects of their business. 

Ultimately, know your bottom line, where you’re willing to compromise and where you’re not. This goes back to having a strong sense of worth!

Raising Your Rates Over Time

If you have an established working relationship with your clients, you might want to start thinking about when you can raise your rates. 

Plan to review and adjust your rates periodically (e.g., every 6-12 months). As you gain more experience, add new skills/certifications, or see increased demand for your services, gradually raise your rates.

Raising your rates is similar to setting your rates. You want to communicate clearly and effectively, while also outlining your value. 

• Communicate Rate Increases Clearly: Notify existing clients in advance of any rate changes. Provide a rationale for the increase, such as new skills, higher demand, or inflation. Offer to grandfather in your loyal clients at the old rate for a limited period.
• Add Value to Justify Higher Rates: As you raise rates, consider adding value to your services, such as offering additional resources or exclusive consultations to help clients see the worth of the higher price.

Setting your rates as a virtual assistant is a key part of growing personally and professionally. Remember, you deserve to be paid a great income for great work!

We cover everything from setting rates, creating business proposals and finding clients that you love in The ROCKET VA™ Academy. Find out more and catch the replay of our FREE 3-day Masterclass Live Series: Virtual Assistant in 90 Days.