The Cost of a Nanny
Wednesday, December 5, 2012
How much does it cost to hire a nanny?
If you’ve considered the pros and cons of home care versus daycare and have come to the conclusion that it makes sense to hire a nanny, then the question becomes: how much will it cost to hire a nanny?
Nannies don’t always have a specific salary like most au pair visa programs. The costs of a nanny depend on numerous factors, and keep in mind that just because a nanny asks for a specific amount, doesn’t mean they deserve it. Let’s take a look at some of the details that determine just how much a nanny should be paid.
Location, Location, Location:
Depending on where you live, the cost of living varies greatly. Let’s face it; you can’t expect to hire a full-time live-out nanny in the center of Boston for $200 a week when it costs nearly double their monthly salary just to pay the rent downtown! Keep in mind that the cost of housing in most major metro areas ranges from $13,200 to $20,400 and up per year. Make sure you’re paying enough so that your nanny can comfortably support herself in the city where you live.. If the cost of hiring a live-out nanny is too high, you may want to consider hiring a live-in candidate.
Is your family living in Europe? Compared to the United States, European countries tend to pay far less for their nannies. You can find au pair salaries listed by country on our visa information pages, however, nannies are normally paid higher wages than those paid to au pairs. You may want to do a Google search listing your city + nanny salary for an idea of what is normally paid in your area.
Live-In/Live-Out:
If you have an extra room available or even a garage apartment behind your house, you may want to consider hiring a live-in nanny. This will cut down on the cost dramatically, since room and board will already be included in the pay. So how much do live-in nannies make? First, make sure to come up with a reasonable dollar amount to cover room and board, and then add a weekly pay on top. This is the best way to determine the salary for a live-in candidate. For example, let’s say you would charge someone $150 per week to rent a room in your home after grocery shopping; you might spend about $50 a week on their food. Make sure to deduct $200 from their pay to come up with the best weekly salary. Another great example is to check out the local agencies and classifieds in your area to see what other families are paying live-in nannies in your town.
Education and Experience:
As is true with most careers, greater experience demands greater pay. Hiring a well-educated and experienced nanny for your family is not only great for your children, but can also cost a little bit more than someone who doesn’t have the experience. Nannies can ask for more money than a babysitter or an au pair because they tend to have more experience.
If you’re hiring someone with a four-year degree, nursing experience, or even someone who has experience working as a teacher, expect to pay more. A four-year degree may increase the base salary up to 20 percent and a Master’s Degree may increase the base salary up to 40 percent depending on the type of childcare experience they have. If you’re looking for someone who will help teach your child another language, or has tutoring experience, you should expect to pay more. However, if a nanny has two years of experience or less, they’re generally at the beginning of their career and would not typically receive a weekly live-in salary of more than $250 per week in the Midwest. Salaries on the coasts are much higher for nanny care and range between $400-600 per week.
Responsibilities:
Do you need your nanny to perform heavy housekeeping duties, handle bills, run errands, or even oversee some of the hired staff in your household? If so, make sure you’re compensating them fairly. Typically, nannies with a four-year degree and over five years of experience may be asking for live-in salaries that are at least $600-700 per week.
However, if you only need a nanny for part-time hours, consider hiring a student, or someone who has another part-time job that works well with the hours you need. If you have more than one child, you will generally need to increase the pay accordingly. If a nanny will be caring for more than three children, the weekly rate should be increased by 10 percent per child.
Unfortunately, there isn’t a set salary for nannies, since their experience, hours, and duties can vary greatly. Think about what you’re asking for, as well as consider the costs required to have your nanny live comfortably. Try to be as specific as possible regarding salary when completing your profile rather than choosing negotiable to avoid any problems later. We certainly wish you the best of luck with your search.
Tags: cost of nanny, education, experience, how much to pay a nanny, location, pricing a nanny, responsibilities
Categories:
Finding Babysitters, Resources for Aupairs, Resources for Families, Resources for Nannies, Uncategorized
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