Budget for nanny starting September
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Anonymous
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We are looking into nanny starting September for 4 year old. How much does it cost monthly to hire one Monday to Friday 7am to 5:30pm? Do I have to give medical/sick/holiday benefits, pay payroll taxes or could I pay them only in cash? We are looking for about long term, like 1 year.
How much do you pay yours? I want to use it as a ballpark for my budget expectation. DD is really energetic, so I will be looking for an energetic nanny that burns her energy out physically in the basement/backyard, and do some quiet activities with her. She will have some weekly zoom classes/virtual tutor that I sign her up, so the nanny needs to supervise as well. She is reading at 1st grade level, so nanny needs to help her with reading? If I do nannyshare with another family, would that be a lot cheaper like half the price? |
Anonymous
| Ugh poor nanny |
Anonymous
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At least $20/hr for the first 40 hours plus $30/hr for each hour over 40hrs so at least $1,175/week As her base. Then keep in mind that you need to pay employer taxes and unemployment on top of that, which will be at least $90/week.
Yes, you should give all federal holidays paid as well as two weeks vacation as market. Also market would be at least 4-5 days paid sick leave, though you should provide the possibility of additional days given the climate |
Anonymous
If you do a nanny share, it will be at least $12/hr for the first 40 hrs and $18 for each after |
Anonymous
| 10.5 hours a day is too much. |
Anonymous
This is the right ballpark. Nannies are in high demand right now, so this is your baseline expectation. There's a lot of concern in the nanny community about what happens if they have to quarantine (at the request of the family they work for, or mandated by the government), and what happens if they get covid and need to miss work (the more generous you can be, the better, and they'll expect it in writing). They want to be paid on the books so that they can collect unemployment and take advantage of the coronavirus top-up benefits that may be in play if they lose their job. |
Anonymous
| Omg... this is op, I am not sure if I can afford $20/hr, $30/overtime hr plus benefits & taxes. That costs more than my after taxes monthly salary. That is $4700 monthly base salary plus benefits/taxes for taking care of my 4 year old. Is that how much what everyone is paying? |
Anonymous
In this region, yes. You can find people who are cheaper, but there’s a reason they’re cheaper. |
Anonymous
Yes - that’s how much people in this area pay for a nanny —- at a minimum. You might be able to find a college student who will do it cheaper at $18/hr up to 40hrs and $27 for each hour after. By law, you must do time and a half for each hour over 40hrs and you must pay employer taxes and unemployment. |
Anonymous
Yes, that’s how much it costs to pay someone a living wage. |
Anonymous
That costs more than your salary? This realization has caused many mothers to just stay home with their kids. They found it was a lot cheaper than childcare, transportation costs, weekly work lunches etc. You may want to consider looking into a possible year off with your job and/or working with your spouse to see if expenses can be wiggled around a bit to allow one to stay home. You can also cut the amount of hours you use the nanny each day. 9-4 saves you about 3.5 hours per day = 17.5 hours saved per week |
Anonymous
We pay $20/hr. and DH and I work our hours so we don’t have to pay overtime. Other people are correct - $20/hr.; paid legally; paid holidays and two weeks vacation are all standard. The lowest I’ve seen for a nanny for one kid is $17.50/hr., but they were guaranteeing overtime. |
Anonymous
Agree. $20/hr is the absolute lowest you can really go. In addition to paid holidays, two weeks vacation, and a week (five days) of paid sick time you should consider that you'll need to give your nanny a bonus (we do one week' s pay + one week's paid vacation during the holidays- so our nanny ends up getting three weeks paid vacation during the year). This doesn't apply as much now, because we don't really travel anywhere, but when we did travel we would pay our nanny if we gave her a random Friday off because we were traveling. We did this, because I believe it's standard and also because plans can change and we had times where we expected to leave to go on a trip Friday morning and then Thursday afternoon realized we couldn't leave until EOD on Friday due to work. You want your nanny to be happy: she is taking care of your kid and she's doing it under crazy circumstances. You want her to be happy! My husband and I have our nanny come 9-5, which is how we get around paying OT. Also, long days with young children are exhausting and I think that our nanny is generally happier with those hours. 7-5:30 or something like that is a really tough schedule and your nanny will probably be really burnt out. If this is really about having some help you during work hours then I'd consider doing 9-5 and swapping morning duties with your husband and doing work at night (my husband and I often work on the weekends and for a few hours after we put our daughter down; we usually work out during the work day and before our daughter wakes up). If you want to save money and spent time with your kiddo you need to get creative about scheduling. |
Anonymous
| We began at 16 with a dollar raise a year. She had a week off at Christmas and a week off in the summer, her choice of week. We paid her a flat rate, so if we has a doctor's appointment or trip and we didn't need her, she still got paid. We paid her and our portion of social security taxes through a nanny tax service. We also never monkeyed with her hours - at first 35 and then 40 a week. We didn't have paid sick time, but the one time she was out for a week very sick, she got paid. We didn't have any of this in writing, we worked on trust. We went into a nanny share because it was a way to get her more money and lower our costs though only marginally. I paid 15 then. We also did a Christmas bonus worth almost a week's salary. This was a decade ago, so things may be more expensive now. |
Anonymous
this was for one child |