How much could you save using a virtual team? Hint… It’s THOUSANDS!
There’s only one way to dissect this...let’s break it down and do some math:
The average base salary for an in-house, full-time paralegal is $50,410.*
The average base salary for an in-house, full-time administrative assistant is $44,950.**
BUT… the calculations don’t stop there!
According to research published by the Kaiser Family Foundation in 2018, the average cost of employer-sponsored health insurance in terms of average annual premiums was $6,896 for single coverage and $19,616 for family coverage.
Now, we’re up to:
In-house paralegal: $57,306 to $70,026
In-house administrative assistant: $51,846 to $64,566
BUT WAIT…. There’s more!
In addition to the base salary, you need to cover other things like employment taxes and benefits. While this calculation is complex, according to the The BeeBole Blog, typically this is 1.25 to 1.4 times base salary range.
Now, we’re talking about:
In-house paralegal: $72,429 to $85,149
In-house administrative assistant: $65,331 to $78,051
Let’s not forget that the following factors will only increase these amounts, including location, industry sector, demand of professionals and skills in the market, education and experience (qualification), company size, job tasks, and success and performance.
Now, let’s talk about how much a Virtual Assistant and Virtual Paralegal makes in the United States.
Typical rates for an experienced virtual paralegal with good specialization skills in a specific practice area run from $55 per hour to as much as one-third of the attorney's hourly rate. New virtual paralegals can earn $30-$40 per hour.
The average salary for a virtual administrative assistant is $15.64 per hour in the United States. Salary estimates are based on 720 salaries submitted anonymously to Indeed by Virtual Assistant employees, users, and collected from past and present job advertisements on Indeed.
The big picture:
BONUS TIP: OFFICE COSTS SAVINGS
Once you make the jump into the virtual world, you can also make yourself a remote worker. From design, architecture, construction, furniture, fixtures, IT implementation and more—the average cost to build out an office is $196.49 per square foot, according to officerenew.com. The average yearly cost to rent office space, per employee per city, according to squarefoot.com is:
New York $14,800
San Francisco $13,032
Washington, D.C. $10,522
Los Angeles $6,702
You could save thousands by working from home, too! Give us a call today to discuss utilizing virtual paralegals and administrative assistants. We can help you make the switch!