Families hiring live-in nannies often wonder how much to pay them. When setting
your budget, ensure it includes room and board costs as part of its total expense.
As part of your calculations for your nanny’s wages, take into account overtime
earnings (if applicable) and any extra duties or responsibilities they may take on.
Read on to discover more on determining their wages.
How Much Do Live in Nannies Cost?
Childcare
A nanny or au pair’s salary must take into account additional childcare costs when
calculating her pay. Many states allow nannies to claim tax credits for child care
expenses that could potentially save families over $1,00050 in annual child care
costs.
A nanny’s wage depends on experience, education, and job duties; experienced
nannies should expect higher rates; additionally if your nanny will perform tasks
other than child-related ones they should receive an increase. Other considerations
for wage payments may include transportation expenses (such as metro cards in
New York City or gas reimbursement), annual raises based on performance or costof-
living increases and any annual raises related to performance/cost-of-living
increases and any medical or work-related meals expenses which can quickly
increase. To help avoid surprises beforehand it would be best if your family prepared
a budget before initiating their search process.
Household Duties
Live in nannies require more than just childcare costs to consider when hiring them,
including room and board costs for themselves as well. Beyond their salary, families
must provide room and board which may include utilities, food and some form of
entertainment – for example MetroCard in New York City is sometimes provided or
alternative transportation means may also be covered; they also may cover any
travel expenses when running errands with children or attending events together,
although some choose to live alone or with pets which could increase living
expenses even more.
Some families hire a payroll service or accountant to manage nanny taxes and
paychecks, while intermediary agencies that vet and recommend nannies charge
fees for their services. Furthermore, some families purchase workers’ compensation
insurance for their nanny, which could add several hundred dollars annually. If your
nanny cares for multiple children at once, overtime wages should also be expected –
including transportation time to and from work sites.
Travel
Families that opt for live-in nannies for their childcare needs must carefully consider
any additional costs, such as covering room and board as well as covering travel
expenses during her time working with you. Au Pairs differ in that they come from
abroad to live with families for an agreed-upon amount of time in exchange for a
stipend and room and board payment; including these travel costs into hourly rates
can eat into your budget significantly, but offer unparalleled care while giving their
young charges cultural experience.
Insurance
Some families opt to provide their nannies with workers’ compensation insurance
that provides wage and medical benefits if they become injured on the job, at a
nominal annual cost. Families also often reimburse expenses related to her work
such as an unlimited metro card in New York City.
SitterCity recommends hiring a service to handle withholding wages and reporting
taxes in order to save time and money in the long run.
An annual pay increase should be granted based on merit and cost-of-living
increases for your nanny, often at least equal to what would be expected during
regular working hours. Families often also provide holiday pay at least equal to that
paid during regular hours as well as any potential bonuses that may apply.
keywords:
- live-in nanny cost, live-in nanny salary, live-in nanny duties, live-in nanny benefits, live-in nanny insurance, live-in nanny taxes, live-in nanny overtime, live-in nanny travel expenses, live-in nanny au pair, live-in nanny room and board