The role of an executive assistant is indispensable in any organization. Often considered the linchpin holding everything together, executive assistants work closely with top executives to manage schedules, handle administrative tasks, and assist with various organizational activities. But with so much responsibility, how much do executive assistants really make?
In this blog post, let's explore the factors influencing EA salaries and how you can maximize your earning potential.
Factors Influencing Salary
Experience:
As with many professions, experience plays a critical role in determining the salary of an executive assistant. A newbie can expect a modest starting salary, while a veteran executive assistant with years of experience can command a much higher rate.
Location:
The cost of living and job market conditions in your geographical location also have a significant impact on your earning potential. For instance, executive assistants in big cities like New York or San Francisco often earn more than those in smaller towns. When it comes to working remotely, this may play out differently. Some organizations will pay based on your location and what competitive pay looks like for your role, while other organizations will actually pay based on competitive pay for the role where they are located. It’s a great thing to unpack and understand with the hiring manager.
Industry:
Different industries have different pay scales. Finance, tech, and legal sectors often offer higher salaries compared to healthcare or education sectors. When you are working in tech, finance, healthcare, etc. you’re often navigating complicated situations, highly confidential information and busier than ever executives so the work environment may look a bit different from a smaller less demanding organization.
Skill Set:
A strong skill set can elevate your worth as an executive assistant. Proficiency in software like Microsoft Office, or skills like project management, can boost your salary. The idea here is to be a swiss army knife. Your skill set can range from basic calendaring and email management to more advanced abilities like SEO, HR, and payroll. The more comprehensive your skill set, the higher your earning potential.
Typical Salary Ranges
Entry-Level:
Starting salaries for entry-level executive assistants can range from $35,000 to $50,000 per year, depending on various factors like location and industry.
Mid-Level:
With 3-5 years of experience, you can expect a salary range of $50,000 to $70,000 annually.
Experienced:
For those with over five years of experience, the salary can go from $70,000 upwards, even exceeding $100,000 in certain industries or locations.
Special Cases:
Executive Assistants to CEOs or other top executives can sometimes make significantly more, particularly if they have specialized skills or are willing to work unconventional hours.
How to Maximize Your Earning Potential
Continuous Learning:
One way to increase your salary is by continually updating your skills. Courses in project management, software proficiency, or specialized training in your industry can make you more marketable. And - check out the Savvy EA courses to really uplevel your skills.
Networking:
Forming connections within your industry can lead to job opportunities that offer higher salaries. Professional networking sites, as well as industry-specific events, are excellent platforms for this. Connect with other EA professionals - oftentimes they can act as an incredible referral agent for future opportunities.
Certification:
Professional certifications can add value to your resume and lead to higher paying job opportunities. Certifications like Certified Administrative Professional (CAP) or Microsoft Office Specialist (MOS) can be beneficial. In my experience, these can be a cherry on top. But be sure to chase certifications that make sense to the industry or role you’re most interested in, some certifications just aren’t all that relevant.
Conclusion
While the role of an executive assistant comes with varying degrees of responsibility and a broad range of tasks, the salary can be quite lucrative depending on your experience, skills, and the industry you are in. Continuous learning and networking are two key elements that can help you maximize your earning potential in this career.
Stay tuned for more insights into the life of an executive assistant. For more resources and learning courses, feel free to browse our offerings at The Savvy EA.