What is a Good Executive Assistant Salary in 2022?
If you are a CEO or C-Level Executive looking to hire a new Executive Assistant or replace an Executive Assistant who has recently left, it is critical to know the most up-to-date salary information in this increasingly competitive market for talent. Do you know what it will cost you in terms of compensation? You may be surprised. Executive Assistant salary ranges across the United States have steadily increased over the last five years. You are probably unaware of what Executive Assistants are currently earning today in the post-pandemic marketplace. Suppose you need advice on executive assistant staffing and how to attract the best talent. In that case, C-Suite Assistants has up-to-date expertise in EA compensation that can help you hire the right candidate.
How have Executive Assistant salaries changed over the last five years?
Over the last five years, C-Suite Assistants has seen a significant increase in Executive Assistant salaries. In 2018 the national average salary for an EA to the CEO was $91,273. In 2022, the average national salary for an EA to the CEO is $ 114,000, an increase of 20%. These numbers, however, are just averages. Generally speaking, online sources tend to substantially understate the salary for an EA to a C-Level executive because lower-level EA salaries are factored into the average. Some C-Level EAs command salaries over $200,000 plus a bonus.
As technology has evolved and the CEO role has become more demanding and complex, so has the importance of the role and responsibilities of Executive Assistants. A C-Level EA is expected to be technically astute and indispensable in lending high-level support to his/her executive. C-Level EAs are now required to have more technical expertise, the ability to stay on top of new technical developments, high emotional intelligence, and a solid general understanding of business. Most have college degrees. In 2022, the C-Level EA is recognized as an important and highly respected profession, a career role that commands higher salaries than ever before.
The pandemic also played into the increase in Executive Assistant salary ranges. From the onset of the pandemic in 2020, with the economy and the job market in a growth mode combined with a significant labor shortage, the demand for EAs, especially with the experience and maturity to work as “virtual EAs” increased. Overall, demand for qualified EAs exceeded supply, and it became a candidate’s market, pushing up EA salaries even further. We expect this trend to continue. Now that working remotely has become the new norm, and companies are starting to return to the office, it has become harder for companies to attract EAs back to a five-day-a-week in-office job. A full-time in-office role often requires an even higher salary than a virtual role to attract top talent.
Executive Assistant Cost
Calculating your Executive Assistant cost depends on various factors such as industry, benefits offered, and type of company (start-up, non-profit, global corporation, etc), but the most important factors are the level the EA supports and where the role is located in the United States. For instance, Silicon Valley/ San Francisco and New York City EA pay ranges typically rank among the highest in the USA.
Regarding the seniority level of the position, when researching compensation on sites such as Glassdoor, Salary.com or Zip Recruiter, it is critical to note that these surveys are not targeted specifically to Executive Assistants for C-Level executives. So, the averages and ranges they show are substantially lower than what is required for an EA to a C-level executive. For example, the combined range on these surveys for New York City is $34,000 – $120,000, a range which is substantially lower than our experience for EAs to the C-Suite. Our data is much more specific. Based on actual EA placements in NYC made by C-Suite Assistants last year, the salary range for a C-Suite level executive assistant was $100,000 – $195,000 and the average was $137,700. The range nationally is similar, with the average being a bit lower.
If you need up-to-date and targeted compensation information for your C-level EA hire in any of the major US markets, contact us. We have the expertise to give you specific market information.
What’s a good bonus for an EA?
Today, executive assistants commonly earn six-figure base salaries and sometimes receive bonus incentives and equity, all of which were formerly exclusive to executives. According to comparably.com, an Executive Assistant earns an average bonus of 4% of their salary, with 44% of EAs reporting a bonus every year. Again, this is an average and does not reflect the specific data for EAs to the C-Suite who generally receive a bonus of at least 10%, with EAs in the financial industry often receiving higher bonuses.
So, how much should I pay an Executive Assistant?
If you are thinking of hiring a C-Suite level EA and want the best talent to support the C-Suite, it is critical to know the market and be willing to adjust compensation upward to fit the very competitive market we are experiencing today. We can help you be successful in attracting and hiring the top EA talent in your area including but not limited to:
- New York
- Los Angeles
- San Francisco and Silicon Valley
- Washington DC area
- Miami/Florida area
C-Suite Assistants specializes in the placement of Executive Assistants to the CEO and business leaders on a national basis. We have placed hundreds of EAs in large and small companies, and have EA compensation expertise in almost every location across the nation on a real-time basis. To discuss your staffing needs with C-Suite Assistants and begin the search for an executive assistant to the CEO or a C-Level executive, contact us now.
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