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Are you planning to get back to work for the first time after your baby and worried about how much does a nanny cost per day?
We understand how exhausting and exciting it must have been for you to be in and around your baby to take care of them, from changing diapers to the constant sleepless night, and only gets a little manageable when you are on your maternal leave.
However, one needs to get back to work someday and that’s when you’d probably be asking yourself, ‘Should I get a nanny to take care of the baby?’ and if yes, ‘how much should I pay for a nanny?’
While most parents might have narrowed their child care options, there are many who haven’t, and this is when hiring a nanny is the best choice for the new parents. However, what becomes rather challenging is to decide on what to expect to pay and if you are even able to afford a caregiver in your absence.
This is why most websites and your co-workers would recommend you to look into the best options available and tally it with your budget for clarity and to plan accordingly.
Factors to determine when hiring a nanny
As per resources, the national average cost of a nanny is observed to be child averaged at $565 per week, on the other hand, this may vary on the location, what is the nanny to do, the number of children (is it one child or more?), and how much experience do they have.
Here are a few other factors that one can determine when hiring a nanny:
1) Geographic area
This is the most important factor that determines how much you are willing to pay the nanny based on where you live as the hourly rates vary from one community to the other. This means if you live in an area that has a higher cost of living, you’d be expected to pay more to the nanny as compared to parents living in the lower-priced areas.
2) Competition based on experience
Another factor that determines the cost for the services of a nanny is the experience they carry as to the competition in the area. This means nannies who have years of experience education would demand more in case the area doesn’t have more competition.
As per a resource, places like New York. New Jersey, Maryland, Alaska, Connecticut, and North Dakota are known to the most affordable places to hire a nanny. While, on the other hand, Mississippi, New Mexico, Arkansas, Arizona, and Florida are considered to the least.
This is another factor that will be considered as a part of the total amount. For instance, if a nanny will have to commute more, they will take the time in transit and mileage into consideration, especially true for the part-time nannies.
What are the different kinds of nannies?
Listed below are the different types of nannies that you can look into as per your requirement and budget:
1) Full-Time childcare nanny
A full-time nanny has a rather extensive job description, and schedule that is also determined on where they will actually live. Here, the new parents will have to make a choice between, a live-in nanny or a live-out nanny.
These are rather a staff cum family member as a live-in nanny is one who not only receives a salary for the full-time work but also has a room of their own in your house. Generally, they work for only five days but have longer hours with some additional work like cooking the children dinner, laundry, or even cleaning their rooms.
While on the other hand, the live-out nannies also have similar duties as that of the live-in nannies with a difference in the number of hours with a flexible schedule. However, the major factor that would rather change the dimensions of the salary structure is the commute.
2) Part-Time Nanny
Part-time nannies are ones that the parents need for the after-school hours or two or three days a week. They only require a part of a nanny share with a scheduled number of hours in a week and a defined schedule of work.
How much does a nanny cost per day? Determining factors that affect the price of a child care
- The number of children
- Average hourly rate
- Money you offer
- The age group of the children
- The benefits
- Weekly requirement
- Competitive cities
- Driving between activities based on the mileage reimbursement if using their own car
- The daycare job of the house and the kids, including cooking, laundry, and cleaning
- Grocery shopping
- Managing household employees
- Event planning
What are the costs that are not included in the nanny pay rate ?
While you are finding the equilibrium between ‘how much to pay a nanny per day’ there are other factors that one must also take into consideration. Listed below are a few:
- The nanny taxes – As per the Internal Revenue Service, the families that hire the nanny are responsible to take care of the withholding state and federal nanny taxes and also cover the costs of taxes that are generally paid by other kinds of employers. However, these are only true when the nanny is liable for earning about $2,200 in a year.
- Payroll services – This is another factor that can be an added cost, that is when families opt for payroll service or an accountant to manage the paycheck of the nanny.
- An intermediary agency – In case you hire a caregiver through a referral agency or a nanny service, you’d be required to pay a sum of fees for the recommended nanny.
- Periodically held background checks – This is also an added cost, as it is based on a routine annual check.
- Certifications – If you request your nanny to be up-to-date on CPR and first aid certifications, you’d be required to pay and renew them every few years
- Bonuses and overtime – As with any other employment, a nanny can also expect a bonus or a raise if they work for more than 40 hours in a week.
The cost of a babysitter can differ from a family to the next as per their circumstances, expectations, and experience levels. However, the nanny’s cost is generally related on an average based on the hourly rate, which is $18.66 with a yearly net of approximately $38,000. Nonetheless, this can fluctuate based on multiple factors as mentioned in the article above.