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How to Set your Virtual Paralegal Fees?

03 Jun 2020 1:52 PM | Cordina Charvis (Administrator)

The daunting task of setting your fees is not something we look forward to; but we can all agree that it is essential that you price your services correctly for the success of your business.

Virtual paralegal fees usually depend on several factors: practice area, experience and geographical location. Generally, virtual paralegal fees range from $8.65 - $53.61 per hour.

According to ZipRecruiter, as of Jan 27, 2019, the average hourly pay for the Freelance Paralegal jobs category in the United States is $27 an hour.

Per SimplyHired.com the average salary for virtual paralegal jobs is $55,000. However, salaries can vary greatly due to the amount of years you have been in business, specialization, location, reputation, and client relationships.

Here is a checklist of questions to ask yourself when determining virtual paralegal fees.

Discussall your fees with your clients before you start any project or assignment and all fee agreements must be in writing

1.    What are your practice areas?

2.    Is there a demand in the market for your services?

3.    What is your level of experience?

4.    What services will you provide remotely?

5.    How long will it take to complete each task?

6.    Are there any additional expenses/charges that you will incur to complete your assignments, such as: for bankruptcy paralegals, PACER, court appearances, travel, and paid research services?

7.    What is the cost of your Practice Management Software? Do you pay a monthly or annual fee?

8.    Are you going to use subcontractors and how much will you pay them?

9.    What type of discounts will you offer?

10. Will you offer volume pricing and packaging?

11. Will you charge administrative fees?

12. Are there any other fees outside of your “general fees and operating hours”?

13. What is the minimum you can charge for each service to cover your overhead costs?

14. How much do you need to charge to break even?

15. How much do you need to charge to make a profit?

After you have figured out the expenses that must be included in your fees; think back to your last salary from your “in-office” employment or the average salary for paralegals in your practice areas at your experience level to determine what the market is paying for your level of experience. Another option is to research other virtual paralegal fees who offer similar services.

Useful websites for researching virtual paralegal fees includes job and salary websites such as salary.com, payscale.com, virtualvocations.com, simplyhired/virtualparalegal.com; guru.com; upwork.com and indeed.com/virtual-paralegal

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