Nanny for 3 under 3 -- how much?
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nannydebsays
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OP, if your budget is 4100 per month INCLUDING your share of taxes and some health care assistance, let's run the numbers: 4100 * 12 = 49200 Taxes (SS/Medicare, unemployment, etc.) will add 10% to your weekly cost for wages. That means 49200 is not only gross wages, but also your share of taxes. Doing the math means your budget for wages is actually 44,727. If you want to contribute to nanny's health insurance at a rate of $150/month, that drops your wages budget by an additional 1800/year, to 42,927. 42,927 divided by 52 is a gross weekly rate of $825.52 for 50 hours a week with 3 under 3. Lets make that a nice round $825/week. That allows for an "average" hourly rate of $16.50, with an actual hourly rate of $15/hour, $22.5/hour OT. Will you be offering extensive PTO or other benefits that are technically "free"? Or will you toss your health insurance idea, and add that money back into wages, for a weekly gross of $860 ($17.20 "average" hourly, $15.64 "actual" hourly, $23.46 OT rate)? What about yearly raises for good performance? How will you afford to pay nanny her mileage reimbursement if she is driving your kids anywhere - does that have to come out of your $4100/month budget as well? Or will you be providing a car, since seeking a nanny with a car that fits 3 car seats severely limits your candidate pool? Are you seeking anything beyond childcare? Do you expect nanny to do any household work beyond kid laundry, room tidying, and basic meal prep? That hourly wage ($15 - $15.60/hour gross) will likely get you a caregiver who is completely new to being a nanny, although she will likely have babysitting experience, or, if you're lucky, you might find a daycare worker looking for a change of pace. What you will not get for the wage you can afford (unless you live somewhere where the COL is insanely low) is a hardworking EXPERIENCED nanny who can definitely handle the job. |
Anonymous
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I read things I don't remember you saying where you are located OP.
I make 18 for one started out at 17 for 1. I am close to DC. My hours aren't 50 every week though. Before I worked with twins and undercut myself and kick myself in the butt for it. I have worked lower paying jobs when I could afford to but no longer can. I think you should offer 18-20 with a promise to pay for 50 hours even if you don't use them. You need to pay overtime as well. I hear a lot of people in DC do not pay overtime. at 20 an hour for 50 you will be paying 1000+ 300. a week so that maybe very high for you. So start out at 18 and offer benefits such as medical insurance and provide a car. Don't expect anything beyond cleaning up after the kids. |