Having the best practice in paying your virtual assistant goes a long way. It shows effort, commitment, and respect. It also shows how much you value your employee, and that's something Filipinos greatly appreciate.
There are a lot of ways to pay your Filipino virtual assistant's salary, but in summary - reasonable, fast, and consistent. Working with an offshore remote employee has many benefits, so much that its disadvantages seem benign. Paying your virtual assistant properly is what holds everything else together, and may serve as an extra boost in team morale and company culture. Practicing what we preach, here are some of the paying habits that we suggest you start doing.
A standard rate of $4 - $8 is a reasonable salary for positions such as Lead Generation Specialist, Social Media Manager, or Content Creation virtual assistant. This is based on the data we've collected vetting tons of Filipino virtual assistants. In fact, the standard rate is considered a generous offer by a number of people.
Naturally, as the title and job description become more demanding, it's only right that the expected rate becomes higher. This is one way of keeping things reasonable with your virtual assistant, as a harder job requires a higher salary.
While it's smart to conduct negotiations with anything that involves money, we suggest straying away from lowballing Filipino virtual assistants, especially if the asking salary is already within budget. Keep in mind that hiring them already saves you costs, keeping a few extra dollars at the expense of not understanding their worth might prove to be counterintuitive.
While most companies implement bi-monthly payments, which means that employees are paid on the 15th and the last day of the month, we suggest paying them at the end of every week. By doing this, your virtual assistant is more frequently rewarded for his or her efforts, and has something more constructive to look forward to. The best part is that it works, Filipino virtual assistants actually prefer this.
One of the reasons why online payments became the norm is because it's just overall more secure and convenient. And since then, we have had a number of online payment systems to choose from depending on the purpose, usage, and support. PayPal has been the go-to payment platform, we recommend Wise, formerly known as TransferWise for paying your offshore remote employee. The latter has cheaper fees, conducts transactions faster, and is compatible with a lot of banks that support different currencies.
The most significant difference between the two is that PayPal charges fees from the sender, while Wise automatically deducts it from the receiver so no extra fees for you! The beauty in this is despite reducing your virtual assistant's salary from transaction fees, the conversion rate from $ (USD) to ₱ (PHP) is actually higher. Your virtual assistant earns more and you spend less - a win-win!
Paying your Filipino virtual assistants right is the number one way to boost company culture and team morale, and it doesn't take much effort or time.
Given how much Filipino virtual assistants help in daily activities and overall scaling, having the best practice in paying their salary is one way of returning the favor. Not only does it boost team morale, it also serves as a motivation for them to perform better. It doesn't take much effort and time, expressing appreciation through these little things could mean a lot to your virtual assistant.
We work with clients in any industry or niche. In the past, we've staffed hundreds of virtual assistants for real estate professionals, insurance agents, marketing agency founders, SaaS CEOs, podcasters, authors, and even business coaches.
We're confident that, regardless of your niche, we can help you work less, grow faster, and be happier than ever.
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