Is it possible to hire a FT nanny for around $30K?

[Anonymous]

I'm expecting my second child soon and am weighing the cost of 2 in daycare versus a nanny. The break even point by my calculations comes around $30K/yr. So, is it possible to hire a FT nanny at that cost. I'm estimating needing 43 hours a week. I live in NoVA right outside the beltway.

[Anonymous]

So when I broke everything down that's 13.41 an hour. That's seems extremely low for one child never mind two. Did you include taxes and benefits?

[Anonymous]

No one good. At that rate you'll get someone bad, desperate, or illegal.

[Anonymous]

Your salary offer is very low - 13.41 an hour/577 a week which doesn't include the necessary overtime payments of time and a half over 40 hours a week.

[Anonymous]

I don't think its fair to try to make it a straight comparison money wise. You'd be comparing apples to oranges. You're saying it would cost you around or a little less than $30k/year for daycare for 2. You'd need to pay bit more for your own nanny, but with that you get: more oversight and control over the care of your children, your children are cared for in their own home, take naps in their own bed, eat their own food, and play with their own toys, you have more flexibility in your desired schedule, you don't have to miss work for every runny nose, and your newborn will stay much healthier. For what you get, I think a nanny is definitely the better deal for 2 children, but I do think it will (and should) cost you more than $30k/year. Your employee shouldn't need public assistance.

[Anonymous]

Maybe deep in mountain country you could. Not in this area though.

[Anonymous]

No, but you could probably do it if you can swing a live in.

[Anonymous]

Anonymous wrote:I don't think its fair to try to make it a straight comparison money wise. You'd be comparing apples to oranges. You're saying it would cost you around or a little less than $30k/year for daycare for 2. You'd need to pay bit more for your own nanny, but with that you get: more oversight and control over the care of your children, your children are cared for in their own home, take naps in their own bed, eat their own food, and play with their own toys, you have more flexibility in your desired schedule, you don't have to miss work for every runny nose, and your newborn will stay much healthier. For what you get, I think a nanny is definitely the better deal for 2 children, but I do think it will (and should) cost you more than $30k/year. Your employee shouldn't need public assistance.

Well, if the OP can only afford $30K, then that's all that matters.

That said, $13/hour isn't a lot for two kids, plus you'll have overtime and employment taxes to cover. So you could hire someone, but probably not a great candidate.

[Anonymous]

That salary is very low for this area. How much would daycare be for your older child and infant?

[Anonymous]

You could hire a live in nanny for 11 or 12 per hr

[Anonymous]

Maybe you can if it's a relative or friend, and wants to help you.

[Anonymous]

Anonymous wrote:You could hire a live in nanny for 11 or 12 per hr

You think nannies is slave lady?haunnnguhgdyjgk£€€<~\{}%*?.|#%^*++¥

[nannydebsays]

First, I think you need to consider the fact that a nanny will be providing care to only your 2 kids. Daycares, even with the best ratios, your baby will be one of 3 his caregivers are responsible for, and your older child will be one of 6+ per caregiver.

So, comparing day care to nanny care is ineffective on a cost basis.

If all you can manage is 30K total, then you need to take 4K off the top to cover your share of taxes, employer costs, the costs of a nanny tax service, etc.

That leaves you with 26K to pay the nanny. In a very low COL area, you might possibly find a nanny for $500/week. In a high COL area, that's not likely, unless you are ok with a nanny with little experience, and can have a LI nanny.

$500 for 43 hours a week is very little money. You will likely be better off using day care.

[Anonymous]

OP here. So, it looks like there is a consensus. Daycare it is.

[Anonymous]

Good luck OP, and congrats on the new baby!