What Should You Be Paying Your Assistant?
When determining the appropriate compensation for your assistant, the first step is identifying the type of assistant you have. Just because you hold an executive title doesn't necessarily mean your assistant is an Executive Assistant (EA). Your assistant might be an Office Assistant, an Administrative Assistant, or hold another title altogether. Each of these roles has different responsibilities, and recognizing this distinction is crucial.
The Importance of Proper Titling
Titling is more than just semantics—it’s about ensuring the alignment between the title and the actual work being performed. For example, in some industries, like tech, titles such as "Administrative Business Partner" or "Executive Business Partner" have emerged to more accurately reflect the complexity and scope of the work today's assistants are doing.
As you move into higher levels of support, particularly at the C-suite level, titles may evolve further to reflect the increased responsibility. You might see roles such as "Executive Operations Manager" or "Director of Executive Operations," which indicate a more strategic involvement in the executive's work and the broader business operations.
Compensation Factors
Once you've identified the appropriate title based on the work being done, it’s time to consider compensation. Several factors influence what you should pay your assistant:
Industry: Different industries have varying pay scales. Assistants in tech might command higher salaries than those in non-profit sectors, for example.
Company Size: Larger companies often have more resources and a greater need for experienced assistants, which can drive up compensation.
Location: Compensation varies widely based on geographic location. Assistants in major metropolitan areas typically earn more than those in smaller towns due to the cost of living and market demand.
A crucial point to note: if your assistant is performing more than basic reception duties, they should be compensated well above the minimum wage or the typical pay at a big-box store. A skilled assistant brings significant value to your organization, driving results and contributing to the overall success of the company. They should be compensated in a way that reflects this impact.
If budget constraints prevent you from offering a competitive salary, consider adjusting the title to more accurately reflect the work being done. This ensures fairness and sets clear expectations.
Common Pitfalls and Solutions
One common issue is executives or business owners being dissatisfied with their assistant’s performance, only to discover that the issue stems from misaligned expectations. If you’re expecting executive-level work from someone titled (and compensated as) a general Office Assistant, dissatisfaction is almost inevitable. The solution? Hire appropriately for the role and pay accordingly.
Balancing Compensation with Career Growth
Not every company has the resources to offer top-tier salaries. However, compensation isn't limited to salary alone. Investing in your assistant's career growth can be just as valuable. Offering opportunities for professional development—such as conferences, courses, and networking events—provides your assistant with new skills and knowledge that can be applied to their work, ultimately benefiting the company.
This approach also prepares the role for future hires, as the position becomes more advanced with each successive assistant. If you’re worried about turnover, consider reframing it as a positive. By being known as a company that provides excellent training and growth opportunities, you’ll attract driven individuals eager to learn and contribute.
The Value of the Right Assistant
Having the right assistant can significantly enhance your effectiveness as an executive. A well-compensated, properly titled assistant can help streamline your day-to-day operations, allowing you to focus on higher-level strategic decisions. The right assistant doesn’t just support you—they add value to the entire company.
Conclusion
In the end, the key is to title appropriately, pay accordingly, and invest in your assistant's growth. Doing so will make you more effective, efficient, and productive as an executive. Investing in the right assistant is an investment in your success.
If you're unsure about what’s appropriate for your situation, consider scheduling a consultation to discuss your specific needs
