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Reply to "Fair Pay Considering Nanny is Live in and her Housing Expenses are covered?"
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[quote=Anonymous]Here's how I would do the math. I think $20/hr is sort of a basic market rate in DC for 1 kid (give or take $5/hr depending on nanny, apparently). The general wise financial advice is not to pay more than 1/3 of your income on housing. So if you figure a $20/hr live out nanny is paying something like $6 of that hourly wage to her rent, then $14/hr for live-in sound pretty much right. Of course, economics being what they are, some people will value this benefit at more than $300/wk and some will value it less than $300/wk. I would think a young type nanny would be more psyched about the pied a terre in the city --- have you looked at sittercity.com? Of course, IMHO, often the grandma type nannies are better with the babies -- they are going to be less psyched about your basement apartment.[/quote]
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