Guide to Determining Nanny Salaries
Surely the compensation is relative to the amount of experience your provider has, but what other factors should be considered? For one, you must decide what kind of provider you are looking for. A live in, a live out, part time, full time, night time or day time. Each of these options helps to determine the amount of compensation that is reasonable.
First and foremost a parent must understand that hiring a nanny means specialized in home care. It isn’t a daycare center, or even a babysitter that you bring your children to. This type of care is highly specialized just for your child and fitted to your schedule. If you are looking for someone to be at your home ten hours a day, be prepared to pay for it. Under such circumstances it can also be a better idea to settle on a salary based compensation as opposed to hourly rates, however either way a parent should not expect to pay under minimum wage. Additionally it is more common for nannies with long hours to take live-in positions. This affords the parents to settle on a lesser salary for the hours, but must then provide acceptable accommodations. These types of conditions can be settled on by you and your nanny under the contract.
For those looking for a live-out nanny you must remember that these childcare providers must make ample money to support themselves. This amount can differ depending on the city. Moreover, those looking for nannies to watch their child for long hours should remember that they are the sole provider of employment since another part-time isn’t usually an option. For those looking for more part-time with shorter hours it will be more important to be punctual with a less flexible schedule because your nanny will likely have a second position to work after hours.
Additionally, the number of children the nanny will be caring for will also determine the amount that should be paid weekly. If only one child is to be cared for the hourly rate will be lower than that of a care provider who cares for two to three children. Still, keep in mind the above conditions of working hours, experience, and accommodations, as all these will weigh on what is to ultimately be paid.
The last, but not least important factor in choosing your offered compensation is what kinds of extras you will or will not offer. Will you offer health care benefits? Will you take taxes out of the paycheck? Will you offer a car for the nanny to use while on the job? Health care benefits need only be considered for a full-time nanny, for a part-time it isn’t necessary. For taxes, its best to decide to pay the rate or salary and then add the taxes on top, otherwise its important to pay an ample compensation that will still provide for living with taxes taken out. Providing a car takes your responsibility to pay for gas away from the compensation so its advisable, but absolutely by no means necessary.
So now we come down to it, a nanny should make at least minimum wage, however if there is any experience in his/her background it is advisable to go up from there. Generally a nanny agency will demand around 11-15 dollars an hour, but this doesn’t take into account your needs financially or hourly. However, you also must take into account all of the aforementioned factors. As such, it is advisable to pay at least 10 dollars and hour. At this amount a part time or full time will provide an ample amount for the nanny, while still providing for your budget. Salaries should also be based off this amount. The only exception is if you are providing a live in situation for your nanny, under these circumstances it is advisable to pay a 200-300 dollar a week salary for spending money and bills.
Although there are so many factors to consider the best thing to remember is your children and their well-being. In order to best provide for their well-being you must best provide for those who will be watching your children whether it be a babysitter, a day care provider, or a nanny. No amount of money can ensure the security of your child while with one of these care givers, but it can ensure that your care giver, after your thorough screening, will be cared for enough to continue working and be a reliable outlet for you and your children when you need it. Being a childcare provider is a career choice and position which many people chose. The amount provided for compensation should respect this as any other position would.
