Nanny Share Questions - Bethesda/Chevy Chase

[Anonymous]

We are expecting our first baby in mid-July, and have a few questions for other moms out there about nanny shares. We are new to this and just trying to get a sense of costs.

-What is the going rate for a nanny these days?
-How much for 1 baby?
-How much for 2 babies (if doing a nanny-share)?
-How much for full time vs part time?
-Do you have to pay for the nanny's healthcare? If so, what percentage?
-Recommended paycheck companies?

Thanks so much!! Any information or suggestions are welcome!

[Anonymous]

Please do a search on this forum. Thanks!

[nannydebsays]

Anonymous wrote:We are expecting our first baby in mid-July, and have a few questions for other moms out there about nanny shares. We are new to this and just trying to get a sense of costs.

-What is the going rate for a nanny these days?

That depends entirely on what sort of nanny you want. Do you want someone with education, experience, or both? Do you feel comfortable with a daycare worker who is changing jobs and becoming a nanny, or do you want a career nanny? To be blunt, you can likely find a person who speaks little English and whose legal immigration status is questionable, and pay her $10/hour to clean your home and "watch" your child, or you can try to find a British nanny with years of experience, a degree from Norland, an absolute aversion to any work not directly infant related , and an hourly rate of $30+. Many nannies of all stripes fall in the $15 - $20/hour range. Virtually all nannies are legally entitled to overtime pay after 40 hours of work per week.

Once you have determined your budget for childcare, start advertising with the low end of your rate. See if the candidates you find are people you would willingly leave your child with. Then adjust your starting rate up as needed.

-How much for 1 baby?

The above numbers are for a single child.

-How much for 2 babies (if doing a nanny-share)?

A smart nanny will charge each family about 75% of her single family rate in a share. That means if a nanny would work for you alone for $16/hour, she will charges around $12/hour per family for a share.

-How much for full time vs part time?

Part time work commands higher rates, because nanny then has to either survive on PT hours, or has to find a second family whose schedule fits exactly in to yours.

Do you have to pay for the nanny's healthcare? If so, what percentage?

IMO, assistance with healthcare puts an employer in a position to find the best possible nanny at the employer's price point. Of course, that assumes that the basic and secondary benefits are also in place - 15 days PTO, Major Holidays off, mileage compensation at the IRS rate, and guaranteed hours/guaranteed pay.

-Recommended paycheck companies?

Use and love HomeWork Solutions myself.

Thanks so much!! Any information or suggestions are welcome!

[Anonymous]

Yes, you should do a search - very common questions. Below are the basics.

-What is the going rate for a nanny these days? ALl over the place really, despite what you may hear on this site. Anywhere from $15-$25/hr. For one child $15-$20/hr (maybe more, depending on experience. Must pay overtime if more than 40 hours and must pay taxes (likely around $4K a month) but many people agree to a set amount a week (for instance $700/wk) as long as the numbers work out to cover minimum wage and OT.

-How much for 1 baby? $15-$20/hr

-How much for 2 babies (if doing a nanny-share)? $20-$25 but if you do a share it would be split ($10/hr) but each family must be a separate employer and pay taxes separately (nanny gets two w-2s)

-How much for full time vs part time? part time will be higher because of less hours.

-Do you have to pay for the nanny's healthcare? If so, what percentage? No. But you could offer to pay (it is not taxed but must keep all documentation) or pay a stipend to assist with costs.

-Recommended paycheck companies? GTM payroll services. These services also cost about $700 a year a month but are worth it to ensure ALL your paperwork is in order. No way around this for a share - each family is a separate employer by law and must pay taxes on what they pay the nanny.

[Anonymous]

Between $20-$25/hr ($10-$12.50 each) for share; $15-$20/hr for one child. Most families do agree on set hours and pay per week ($800 a week, etc). Just note that nannies are expensive but worth it. Go into it with your eyes wide open. Taxes and OT must be paid. Most shares are around $2k a month per family and most individual nannys (assuming 50 hours and OT) will be around $4k a month. Need to give 2 weeks vacation, 3 sick days, etc. You do not have to pay health insurance.

[Anonymous]

We've also had good experiences with Breedlove for a service. Don't forget Workers comp too.