Introduction
An executive assistant is a professional who provides administrative support to senior-level executives in a variety of industries. They work to ensure that the executive’s day-to-day operations run smoothly and efficiently. Executive assistants are often responsible for managing calendars, arranging travel plans, organizing meetings, preparing reports, and handling confidential information.
So, how much does an executive assistant make? According to PayScale, the average annual salary for an executive assistant is $48,817 as of May 2020. However, salaries vary greatly based on experience, location, industry, and other factors.
Executive Assistants: How Much Do They Make?
The salary of an executive assistant can range from $30,000 to $80,000 or more, depending on the region and industry. For example, according to the U.S. Bureau of Labor Statistics (BLS), executive assistants in the District of Columbia have the highest mean wage at $79,590 per year. Those in California follow closely behind with an average annual salary of $68,220.
In addition to location, the industry an executive assistant works in also has an impact on their salary. The BLS reports that executive assistants working in the finance and insurance sector earn the highest wages, with an average annual salary of $63,470. Those in the educational services sector had the second-highest wages at $57,870 per year, followed by those in the professional, scientific, and technical services sector at $56,270.
Comparing Executive Assistant Salaries in Different Industries
As mentioned previously, the industry an executive assistant works in can have a significant impact on their salary. Let’s take a closer look at the salaries of executive assistants in some of the most popular industries.
Salaries in Corporate and Nonprofit Sectors
In the corporate sector, executive assistants are often responsible for managing business operations, overseeing budgets, and providing administrative support to executives. According to Glassdoor, the average annual salary for an executive assistant in this sector is $54,000.
In the nonprofit sector, executive assistants provide similar services but with a focus on the organization’s mission and goals. According to PayScale, the average annual salary for an executive assistant in this sector is $47,521.
Salaries in Healthcare and Education Sectors
In the healthcare sector, executive assistants typically work in hospitals and other medical facilities. They are responsible for coordinating patient care, maintaining records, and providing support to medical staff. According to PayScale, the average annual salary for an executive assistant in this sector is $40,988.
In the education sector, executive assistants provide administrative support to school administrators and faculty. They may be responsible for managing financial records, scheduling events, and communicating with parents and students. According to Glassdoor, the average annual salary for an executive assistant in this sector is $43,000.
Salaries in Technology and Creative Sectors
In the technology sector, executive assistants work in software and hardware companies and provide administrative support to executives. According to PayScale, the average annual salary for an executive assistant in this sector is $50,507.
In the creative sector, executive assistants provide administrative support to creative professionals such as photographers, graphic designers, and writers. According to Glassdoor, the average annual salary for an executive assistant in this sector is $45,000.
How to Negotiate a Fair Salary as an Executive Assistant
When negotiating a salary as an executive assistant, it’s important to research the average salaries in your field, understand the company’s budget, and know your value. Here are some tips for negotiating a fair salary:
Researching Average Salaries in Your Field
Before negotiating a salary, it’s important to research the average salaries in your field. This will give you an idea of what you can expect to earn and help you determine if the offer is fair. You can find salary data on sites like PayScale and Glassdoor.
Understanding the Company’s Budget
It’s also important to understand the company’s budget so you can negotiate a salary that’s within their means. If the company has limited funds, you may need to be flexible and negotiate a lower salary. However, if the company has more funds available, you may be able to negotiate a higher salary.
Knowing Your Value
Knowing your value as an executive assistant is essential when negotiating a salary. “Executives rely on their assistants to keep them organized and on track,” says career coach and author Amy Spencer. “You have to be confident in your skills and abilities, and know what you bring to the table.”
Negotiating with Confidence
Finally, it’s important to negotiate with confidence. Speak up for yourself and don’t be afraid to ask for what you deserve. “It’s important to remember that you have the power to negotiate,” says Spencer. “Be clear about what you want and don’t be afraid to ask for it.”
Conclusion
Salaries for executive assistants vary greatly depending on location, industry, and other factors. It’s important to do your research to find out the average salary in your field and understand the company’s budget before negotiating a salary. Knowing your value and negotiating with confidence are also essential when negotiating a fair salary. With the right approach, you can negotiate a salary that’s commensurate with your skills and experience.
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