What is the total yearly cost of employing a nanny?

[Anonymous]

I agree with the poster above who said nanny’s rate + 10% for taxes + $1500ish for payroll and workers’ comp insurance + extras like mileage reimbursement if they apply

My entire take-home pay goes toward paying for our nanny. We have two kids. I have my job to keep my foot in the door and keep my career alive, but in the short term, it would financially make more sense for me to not work. A nanny is definitely a luxury.

[Anonymous]

Other one-off or non reoccurring expenses are things you might need two of. For example, I purchased a separate diaper bag for our nanny so I didn’t have to worry about transferring my keys/wallet/lipstick out. I also purchase two of everything that goes in the diaper bag so we both are fully stocked (sunscreen, bug spray, pacifier clips, etc).

[Anonymous]

My entire p0st -tax salary would have gone to a nanny so we came to the decision that I would take care for my own children. No more stress and the kids see their mom throughout their day. I never imagined I would be a stay at home mom (3 kids) but it really works well for us. i have a great partner who really understands that my work is as respected /important as his.

[Anonymous]

Anonymous wrote:I agree with the poster above who said nanny’s rate + 10% for taxes + $1500ish for payroll and workers’ comp insurance + extras like mileage reimbursement if they apply

My entire take-home pay goes toward paying for our nanny. We have two kids. I have my job to keep my foot in the door and keep my career alive, but in the short term, it would financially make more sense for me to not work. A nanny is definitely a luxury.

This is our situation too. I am an MCPS teacher so I have great benefits and we depend on those and I cannot quit. Once we had kids my DH and I agreed I did not have to work summers any more so I would not burn out. Our nanny works half-time in the summers and she is thrilled to have that opportunity. She would prefer to be home with her kids but cannot afford it. She gets half her salary in the summer which allows us to afford to contribute that extra amount to our retirement

[Anonymous]

Nannies have gotten so expensive. It’s getting to the point that only the 0.1% (and a few foolhardy others) can afford them. Rates will have to go down or there will be a lot of nannies out of work.

[Anonymous]

Anonymous wrote:Nannies have gotten so expensive. It’s getting to the point that only the 0.1% (and a few foolhardy others) can afford them. Rates will have to go down or there will be a lot of nannies out of work.

Life is expensive unless you’re so oblivious to the world. Most nannies are employed these dates as families are vetting high for them.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Nannies have gotten so expensive. It’s getting to the point that only the 0.1% (and a few foolhardy others) can afford them. Rates will have to go down or there will be a lot of nannies out of work.

Life is expensive unless you’re so oblivious to the world. Most nannies are employed these dates as families are vetting high for them.

Your second sentence makes no sense. Also, when times are tough it’s lower income people who suffer. It follows that the employer would pay their nanny less, not more, if the employer’s life has suddenly gotten more expensive.

[Anonymous]

Anonymous wrote:Nannies have gotten so expensive. It’s getting to the point that only the 0.1% (and a few foolhardy others) can afford them. Rates will have to go down or there will be a lot of nannies out of work.

It's crazy how much it costs. Our first kid was born right before COVID, so we WFH and had family help. He entered daycare FT at age 2.

Recently had a 2nd kid. We have been experiencing A LOT of nanny turnover and drama, all while paying a good rate ($35/hour) and time off. We were going to start daycare early next year due to the waitlist, but got an early offer to start in a couple weeks. We took it. Honestly the stress is a lot less with daycare than dealing with nannies. We both have intense jobs and we were spending our weekends interviewing nannies, dealing with flaky people, etc. Had a great nanny for a couple who gave us only a few days notice after agreeing to work for us for months. Employed another nanny for a few days who clearly lied about her experience - she could not handle the baby AT ALL, struggling mightily, didn't want to do walks outside, etc.

I guess we are just Daycare People.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Nannies have gotten so expensive. It’s getting to the point that only the 0.1% (and a few foolhardy others) can afford them. Rates will have to go down or there will be a lot of nannies out of work.

Life is expensive unless you’re so oblivious to the world. Most nannies are employed these dates as families are vetting high for them.

Your second sentence makes no sense. Also, when times are tough it’s lower income people who suffer. It follows that the employer would pay their nanny less, not more, if the employer’s life has suddenly gotten more expensive.

NO! DAYS OF CHEAP LABOR ARE OVER. Low income folks won’t allow cheap pay. A good decent employer does PAY according to market.

[Anonymous]

Anonymous wrote:We do about $35K for a nanny share (one other family), 45 hours a week.

How many kids?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Nannies have gotten so expensive. It’s getting to the point that only the 0.1% (and a few foolhardy others) can afford them. Rates will have to go down or there will be a lot of nannies out of work.

Life is expensive unless you’re so oblivious to the world. Most nannies are employed these dates as families are vetting high for them.

Your second sentence makes no sense. Also, when times are tough it’s lower income people who suffer. It follows that the employer would pay their nanny less, not more, if the employer’s life has suddenly gotten more expensive.

NO! DAYS OF CHEAP LABOR ARE OVER. Low income folks won’t allow cheap pay. A good decent employer does PAY according to market.

I’m not sure why you’re yelling. It’s a market reality. Shouting online about it won’t make it different.

[Anonymous]

~56K

1 child, at $25/hr. On the books with payroll & worker comp insurance.

We didn't hire anyone while she is on leave (I took leave myself), no overtime, drove in our car (no mileage reimbursement).

If you provide medical insurance add 300-400 more per month.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Nannies have gotten so expensive. It’s getting to the point that only the 0.1% (and a few foolhardy others) can afford them. Rates will have to go down or there will be a lot of nannies out of work.

Life is expensive unless you’re so oblivious to the world. Most nannies are employed these dates as families are vetting high for them.

Your second sentence makes no sense. Also, when times are tough it’s lower income people who suffer. It follows that the employer would pay their nanny less, not more, if the employer’s life has suddenly gotten more expensive.

NO! DAYS OF CHEAP LABOR ARE OVER. Low income folks won’t allow cheap pay. A good decent employer does PAY according to market.

you understand that it means fewer jobs available for nannies? Parents who could afford a full time at 18$/hr pre-pandemic, cannot afford $28/hr. So children go to daycare. If total cost of employing a nanny is 60K/year and the mom makes 90k, then she might drop out of workforce. So only ultra rich or people with family money will be employing nannies and 1) there are fewer of them than regular 2 professionals households and 2) they have their own requirements which you may not fit.

[Anonymous]

Also keep in mind that unlike daycare (which gets less expensive as your kids get older), Nannie’s get more expensive over time.

What’s happened in our family is we’ve had the same wonderful nanny for years. Her starting wage was pretty low per hour, and is now much higher as our love for her and reliance on her has grown. Our life just becomes untenable when we don’t have her, and so we compensate her very well because we don’t want to lose her. This is of course ideal-we don’t want to be switching nannies all the time, but it costs money to retain someone great and you have to keep offering increases/bonuses/gifts to show that you value them.

We are middle class and this expense is bigger than our mortgage and it does hurt and it has gone up substantially over the years.

[Anonymous]

Most of the parents I worked for made more than 100K a year, around $130-ish each, and even for them paying $60K was a significant chunk of their income. However, since it is only for about 3 yrs, they all did it, rather than risking daycare. Many, many people just do not see their baby in a daycare setting until they are at least 2. They do not even consider a daycare. Even if one parent's whole paycheck goes to the nanny, many will still do it, to stay in their career path.