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[quote=Anonymous]There are 2 things you need to do OP.

1) Determine your childcare budget. That means either figure out how much you CAN spend or how much you are CHOOSING to spend.

2) Research how much rent a decently sized 1 bedroom apartment (and a 2 bedroom in case nanny has a child) costs per year. The apartment must be in a decent part of town, and must be within a decent distance of your home that avoids a ridiculous commute.

Then determine if an average yearly rent is affordable based on what you can afford to pay. The 30% rule is outdated in some ways, but it tends to hold truer for lower income earners.

So if average yearly rent meeting the qualifications in #2 above is $12,000, the absolute minimum you need to pay your nanny is $40,000 a year gross. Rent is $15,000, gross wages are $50,000. Rent is $18,000, gross income is $60,000. 
Now you’ll know if you can afford a nanny and you’ll know what you can afford to pay as well.

Just so you know, market rate as a generality is BS. A nanny who is 18 and has a high school diploma with no true nanny experience isn’t going to cost what a 28 yo college degreed nanny with 5 years of experience will cost. That’s why you MUST know what you can afford or want to pay, so you can determine what level of age/experience/education you can afford. [/quote]

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