Employers - what percentage of your take-home salary goes to Nanny?

[Anonymous]

This question is for DBs and MBs. What percentage of your family's income goes to your nanny or nanny share? What do you make, if you feel comfortable sharing?

We have a four month old and have opted for the nanny share route, and are in the interview process now. It makes sense for us financially, because it will cost about the same as infant daycare ($1800-2000/month per family), but it means that about 20-25% of our family's combined take-home[b] pay ($100k) will go to childcare. It essentially eliminates our ability to save this year. Are others in the same boat? Should we be searching for more affordable options (if they even exist)? We don't have a FSA at our current employer, but I'm also searching for a new job, so there's a possibility I'd have that benefit in a couple months.

FWIW, my partner and I make about the same amount. So childcare accounts for about half of our individual take-home pay, meaning it wouldn't make financial sense for either of us to stay at home.

[Anonymous]

We sacrificed and used saving to pay for an amazing nanny for the first three years of our son's life and it was worth it. DH was still in grad school so it was over 50% of my income to pay our nanny.

[Anonymous]

Pretty sure only 1% or less of their take home goes to me.

[Anonymous]

Our nanny share is about $2600 per month per family. Once we set all the taxes up, we were shocked how much it cost (it was about $200 more than we had anticipated and calculated). We make about $180 but between rent and this, we've pretty much ended all savings other than retirement until we get a better handle on all our finances. We will be able to save again eventually but it sucks. The positive thing is that we love our nanny and she clearly loves DS.

[Anonymous]

When we hired a nanny our annual gross income was roughly $275k and we have a monthly mortgage of approx. $4k. The nanny costs were roughly $2800/month.

I think in your circumstances I'd do the same thing you are OP - a nanny share. It's only for a couple of years probably and the benefit of a nanny in those early years is really quite significant.

Congrats on your baby!

[Anonymous]

My DB was complaining about a month ago on how "all of his money goes to me, his sons nanny." Turns out he was right- to a degree. He invests 50% of his check and after he pays me he has $200 a week left. He told me this and then asked if I would work 24/7 but only get paid for 45hrs a week.

[Anonymous]

So, basically the nanny salary would be one of your incomes. It might make sense if you are in a career field you can easily go back to, to take a few years off and go back. Or, suck it up short term to keep your job and career. Its probably common that a large portion of one salary go to child care.

[Anonymous]

Anonymous wrote:My DB was complaining about a month ago on how "all of his money goes to me, his sons nanny." Turns out he was right- to a degree. He invests 50% of his check and after he pays me he has $200 a week left. He told me this and then asked if I would work 24/7 but only get paid for 45hrs a week.

Your post makes no sense as who pays the mortgage and other bills.

[Anonymous]

It's 150% of my salary; about 25% of HHI. It's a lot. Too much, probably.

[Anonymous]

We pay, with everything, around $5,000 a month for our amazing nanny. It is a sacrifice but knowing how vitally important the first three years of life were in term of stimulating brain synapses, every penny is worth it. You can always make more money but you can never get those first three years back. Our nanny has narrated, readand sang to DD from birth. At 18 months, DD is a sweet and loving little girl who loves books more than anything and has been speaking in sentences for the last two months. I attribute so much to her nanny. My DD also loves her nanny! And my daughter spends her weekdays with a woman who loves her.

[Anonymous]

Anonymous wrote:So, basically the nanny salary would be one of your incomes. It might make sense if you are in a career field you can easily go back to, to take a few years off and go back. Or, suck it up short term to keep your job and career. Its probably common that a large portion of one salary go to child care.

No, it would be half of my net income - or his, we make the same. So 25% of our household net income. That might not have been clear in my original post. Otherwise, yes, we definitely would be considering having one of us stay at home. DH wants nothing more than to be a stay at home dad, actually. Someday.

[Anonymous]

Anonymous wrote:When we hired a nanny our annual gross income was roughly $275k and we have a monthly mortgage of approx. $4k. The nanny costs were roughly $2800/month.

I think in your circumstances I'd do the same thing you are OP - a nanny share. It's only for a couple of years probably and the benefit of a nanny in those early years is really quite significant.

Congrats on your baby!

We definitely prefer the nanny route as opposed to daycare in these early years. Thank you!

[Anonymous]

Anonymous wrote:We pay, with everything, around $5,000 a month for our amazing nanny. It is a sacrifice but knowing how vitally important the first three years of life were in term of stimulating brain synapses, every penny is worth it. You can always make more money but you can never get those first three years back. Our nanny has narrated, readand sang to DD from birth. At 18 months, DD is a sweet and loving little girl who loves books more than anything and has been speaking in sentences for the last two months. I attribute so much to her nanny. My DD also loves her nanny! And my daughter spends her weekdays with a woman who loves her.

OP here. That sounds wonderful! Money well spent. I'm hoping that it works out just as well for us.

[Anonymous]

Anonymous wrote:

Anonymous wrote:My DB was complaining about a month ago on how "all of his money goes to me, his sons nanny." Turns out he was right- to a degree. He invests 50% of his check and after he pays me he has $200 a week left. He told me this and then asked if I would work 24/7 but only get paid for 45hrs a week.

Your post makes no sense as who pays the mortgage and other bills.

The other parent. You aren't that bright.

[Anonymous]

OP here. Appreciate the feedback. Comforting to know others are in similar situations. It's just difficult to swallow that we won't be saving much, if anything, over the couple of years.