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Reply to "How much does a Nanny Cost?"
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[quote=Anonymous]It depends. Are you planning on going through an agency or a site? How many people are you intending to interview, and how many interviews will be in coffee shops or the like? How much are you offering the nanny per hour, how many hours do you need, and are you planning on paying overtime as required when nanny goes over 40 hours per week? Do you need longer availability or is it a set schedule? (Better rates will draw more/better candidates, anything extra costs more, like language, education.) Are you paying on the books or off? On means that you will be approximately 7.5% of the nanny's salary to the IRS as the employer's contribution to SS and Medicare. Are you going to add the nanny to your auto policy, if she'll be driving your car? Are you going to pay the required unemployment insurance? Will you need a workman's comp policy? What benefits are you going to offer? Vacation weeks mean that you will need to take time off work or hire an interim person, who might charge more per hour due to the temporary nature. Health insurance could be extra money out of your pocket, but it's not taxed. Would the nanny be open to a gym membership (with the understanding that she also takes the kids during work hours)? Most nannies won't consider museum or zoo memberships a benefit, because they are unlikely to use them without your charges. There is a huge range for what an employer pays. Someone paying off the books, no extra insurance, interviewing in their home and paying lower wages could pay as little as $300 per week (I've interviewed with families that topped out at $350/week for 65 hours), and there's a high turnover for nannies, because any other job looks better. On the other hand, an employer who is on the books, paying a decent to great wage, pays unemployment and workman's comp, possibly provides a nanny car and pays the insurance increase, maybe even provides health insurance has a better selection of nannies and more chance that the nanny will be happy to stay for several years.[/quote]
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