How much does it cost to hire a nanny? The location you are in and the type of service that you want will determine the actual cost of a nanny. There isn’t a by hour rate that works for everyone of every skill and need. Geography is the first thing that will determine the cost of a nanny. The more influential the location or the more costly the living expenses, the more costly it will be in those areas to hire a nanny for your son or daughter. The education and experience of the nanny is the next deciding factor. Naturally, you get what you pay for in these features. If you are looking for someone that is well experienced and has a great resume, you can count on paying more for their services. However, someone new out of school would cost you less.
The pay and benefits of a nanny vary, but we have some guidelines for you to think about. Beginning live-in nannies who are new to the profession will make from $250 to $400 per week. Those that are fully trained and have experience are likely to demand a salary that ranges from $400 to well over $1,000 a week.
For a nanny that doesn’t live with you, or one that works part time, you can expect rates to be dependant on hours and needs. Part time workers can earn $9 per hour to $25 per hour or more, depending on their qualifications an experience.
Most nannies will demand a benefits package too. Remember, they are an employee of yours and those employment benefits should come with working for you.
For live in nannies, it will be necessary to provide them with a private room to live in, usually with a proivate bathroom too. Free room and board is a condition of virtually all live in nanny contracts.
For time off, the nanny should get a minimum two weeks per year of vacation time. and, major holidays are usually provided without work. Many families will provide health care insurance to their nannies too.
Sometimes, if the nanny is required to drive the child from place to place, the nanny will also require the use of a car while working.
Another consideration of the nanny and the work that he or she does for you is the work schedule. If you have a live in nanny, you may think that the nanny would be working any time that the child is around. The fact is that a nanny is like any other employee, requires a schedule that is fair and appropriate.
Generally, a nanny will work from 40 to 60 hours. If the nanny is required to work over these hours, the family should provide extra pay, such as overtime or should give some additional time off later in the week.
Hourly employees will face the same restrictions on hours as the live in or full time nannies. The difference here is that the nanny will likely earn an hourly rate, which in most States have a maximum number of hours per week worked before overtime rates will kick in. You’ll need to check with your State’s Department of Labor website to find this information out.
Again, all of these things need to be taken into account during the hiring phase.
Taxes are yet another consideration of the hiring of a nanny. As you are employing them, you will be required to pay taxes for them. This includes Social Security taxes, Federal Income Taxes and any state or local earnings that are required to be paid in your State.
You’ll need to gather this information from your local governmental offices to find out how to register for tax payments and what you will need to actually pay, how much and how often.
The good news is that there are many accounting software products that have built in features that can help you to manage your staff including your nanny services. When hiring a nanny it is important that they agree how the child is to be cared for. For example if your toddler is about to be potty trained the nany must follow the same routine as you. Other wise, your child will just be confused. Consistency of approach is essential.