How Much Does a Good Nanny Cost?

Nanny costs can differ considerably based on your location. Families should assess
nanny rates in their area before making decisions based on that information.
Other factors affecting nanny costs may include whether the job requires travel and
expenses. You should also factor in payroll taxes since this will make you an
employer.

Qualifications

A qualified nanny should possess experience and knowledge of child development.
An exceptional nanny must use initiative to solve problems quickly while providing
children with stimulating activities and experiences.
Your nanny should possess paediatric first aid training that must be updated
periodically, while many families require their nanny to hold at least a basic
qualification as an Early Years Practitioner, for instance Ofsted’s Level 2 course is
now required for anyone working with children.
Other qualifications to keep in mind when hiring a nanny include whether she is fully
insured (which might require extra compensation) and whether mileage
reimbursement will be necessary when running errands for your family. She should
also be punctual to help keep their day running smoothly.

Experience

A good nanny should possess all-around experience with child care. They should
have the ability to calm children down in emergencies and comfort them during
difficult situations, and be trained in first aid, water safety, and CPR.
Nannies should be able to communicate effectively with parents and the entire
family unit – especially when it’s time to pay them! In addition, they must
understand all of the family’s schedule, appointments and responsibilities.
Families should carefully consider whether a live-in nanny is necessary and how
much it might cost them. It’s essential that families compensate a nanny for their
actual work rather than simply their hours spent at the home; their rate should
increase accordingly if additional tasks such as cooking meals or transporting
children to and from school are taken on by them.

References

Carefully investigate a prospective nanny’s references. While other job candidates
are usually limited legally in what they can reveal about their employers, nannies’
references will likely provide all of the information you require about them.
Most families pay their nannies an hourly rate that increases with experience and
education levels, as well as any requested household tasks such as cooking or
laundry, should they arise. Families also often cover extra services like cooking or
laundry should these become necessary; and it’s fairly standard for nannies to earn
additional compensation through activities that encourage children’s physical and
mental development through play – making up vacation and sick days if applicable;
some nannies even work “on the books,” meaning their benefits fall under an
employer’s health/dental insurance as well as taxes regarding Social
Security/Medicare taxes when applicable.

Insurance

Nanny insurance not only offers peace of mind for both you and your nanny, but it
can save money in the long run. By protecting both parties should a nanny need to
miss work due to illness or injury, it gives everyone involved protection in case
something unexpected comes up during their employment relationship.
Your family may offer your nanny a qualified small employer health reimbursement
arrangement (QSEHRA), which reimburses her for individual healthcare costs such
as premiums and out-of-pocket expenses. Many families use payroll services which
handle taxes and withholdings automatically to simplify payment to their nanny.
If your nanny drives your family vehicle, you should consider adding her as an
occasional driver on your auto policy or purchasing permissive user add-on
coverage. Workers’ compensation insurance provides medical expenses and lost
wages should an accident happen at work.

Travel

Travel is an enormous expense for nannies. To ensure an equitable experience for
her, when taking your nanny on family vacation you must remember she still works
for you and must be paid her guaranteed hours plus overtime pay should she
exceed 40 hours per week.
Employers should cover all travel-related expenses for any nannies required to
travel for their jobs, including flights, lodging and meals. Furthermore, it’s a standard
practice to pay them a daily travel fee as compensation for being away from home
and family for such trips.
Make sure your nanny has their own space where they can unwind and recharge –
she needs her own place where she can decompress from a long day’s work.