Hiring a Personal Assistant

Compensation Structures

Once you know who you want to hire as your assistant, you must determine how you’ll pay that person. According to the 2005 NATIONAL ASSOCIATION OF REALTORS Member Profile, real estate practitioners compensate their personal assistants in a variety of ways:

The best way to determine the prevailing wage in your area is to contact your local chamber of commerce, employment agency, state employment office, and other salespeople in the area who’ve hired assistants. And before you hire an assistant, consult your accountant to discuss the compensation method and tax ramifications.

How much you pay an assistant is inherently linked to the tasks the person will perform. If you need a secretary, hire a temp or a student and pay the prevailing hourly wage. But if you want the person to work with clients and customers, you may be better served by a salary and bonus structure.

Here are some of the ways you can structure your assistant’s compensation plan:

Note: This information provides general legal information and should not be relied upon as legal guidance. Before acting, both the relevant laws and legal counsel should be consulted. This information should not be construed as specific legal advice nor as an opinion on particular facts, cases, or situations.

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07/25/2014 11:25 AM