to think you need a total household income of >£120k to be able to afford a nanny?

(78 Posts)
SESthebrave Sun 16-Jun-13 21:35:45

I'm back at work after DC2 and currently both DC are in nursery. This costs £1500 per month.

In September, DS starts school and we will need to arrange care before and after school 4 days per week. We also have DD (just turned 12mo) who will need care 4 days a week.

There is an after school club associated with the school but it closes at 6pm and I can't guarantee being back by then. There is no breakfast club.

A nanny seems a good solution and I have met one I like and I think would be great for us as a family. She charges £10ph net. I can understand why she charges this but by the time we've paid tax and NI and insurance and anything else, I don't see how we can afford it.
Our combined gross income is approx £110k each year. We do have a fairly hefty mortgage costing £1700 per month.

Am I just doing my sums wrong or do you need to be earning more?

yeah, what a shame for you hmm

I can't really imagine what any of those sums of money look like so I have no idea, sorry.

Doha Sun 16-Jun-13 21:40:56

We earned a fraction of that albeit with a smaller mortgage -it was difficult and l felt l was working only to pay her wages but what l had to remember it was only going to be short term until DD2 went to school.

It worked our fine for us-we just had to cut out the luxuries.

SESthebrave Sun 16-Jun-13 21:42:18

I'm sorry - didn't mean to come across all woe is me. I realise we're fortunate but I'm just trying to juggle things for our family as best we can and wondered if I was missing something.

Sleepyhoglet Sun 16-Jun-13 21:42:23

Child Minder for after school and nursery for youngest? Being an employer ( of a nanny) is a larger responsibility.

havingamadmoment Sun 16-Jun-13 21:43:15

I think most people have to work around things like this. We have 5, we started our own business after the 3rd as childcare was impossible. Dh works in our office 5 days a week, I work two days from 9-3 (so I can get to school pick up)and from home as needed the other three days.

Its not realistic to have a number of children and expect to carry on as normal with no impact to work and/or finances.

DontmindifIdo Sun 16-Jun-13 21:43:40

yes, you need a high income for a nanny to make financial sense. It's the expensive option for childcare, although the most flexible.

Could you look at childminders who'll do the school run for your DS's school? Most will give you a sibling discount so it'll work out cheaper.

Message withdrawn at poster's request.

greenfolder Sun 16-Jun-13 21:45:21

You need a childminder who will be more reasonable-charging you ph for dd and for before and afterschool for ds. Presumably you looked at this before you had your second?

PrettyKitty1986 Sun 16-Jun-13 21:45:23

Yes yabu.

My friend is a nanny who earns £25k.

If we completely cut back treats and savings, we'd probably need to earn £15k a year more than we do now to afford a nanny at that wage.

Which would still be a good bit less than £120k. What a ridiculous post.

MaryKatharine Sun 16-Jun-13 21:46:26

We had a nanny for a year about 7years ago. I can't remember how it worked out hourly but I know she was earning 30k which meant I was effectively working for £100 a month. Not great but it was the only solution to our child care issue. It is rare for an after school club to go beyond 6pm. In fact, most day nurseries only go to 6pm too.
It depends how much you want to work as you may find it better to take a couple of years out.

SESthebrave Sun 16-Jun-13 21:46:43

Thank you. Yes, a childminder is one option and we are booked to visit one in a couple of weeks. I'm not convinced she is right for us tbh but will look around for another.

The only other option I can think of is to find another family who may be interested in a nanny share.

propertyNIGHTmareBEFOREXMAS Sun 16-Jun-13 21:46:50

My single mum friend had a very cheap, young, nanny from abroad. The nanny had free board and food, 2 days of a week and a few hundred pounds pocket money a month. The deal was that my friend taught the nanny English. Nanny stayed for two years and they were both very happy with the arrangement.

grabaspoon Sun 16-Jun-13 21:47:08

I am on a low wage - but my boss is a single parent on a 27k p/a salary and she affords me on a full time basis.

cottoncandy Sun 16-Jun-13 21:47:43

I have children the same age as yours and have just started employing a nanny. It depends where you are but you could probably find a nanny for less than £10ph net. You could also consider putting DD in a nursery 1 day a week and use after school care for DS, and make sure you are back on time that one day? If you have a nanny less days her total wage is lower meaning that mark up over the net amount is less (IYSWIM). We are going for 3 days nanny, one day GPs, and one day I don't work. It is still a lot of money though but I think worth it for these few years - we used a nursery for our eldest but the logistics of one in nursery and one at school just aren't doable for us.

CloudsAndTrees Sun 16-Jun-13 21:49:48

Your problem isn't a nanny charging what she does, it's the size of your mortgage. It's huge, but you made that choice when you bought your home.


grabaspoon, perhaps you could get more somewhere else, I can't imagine that you're on much if your employer is only on 27k per year?

Quangle Sun 16-Jun-13 21:51:58

No need for the sarcasm. OP is saying they take home a lot and still can't afford a nanny - has she missed a trick?

Answer is no. My nanny costs me about £28k a year which is obviously out of my taxed income which means I have to earn getting on for £60k just to pay for her. I don't quqlify for childcare vouchers which would possibly slightly help you OP but not much.

nannynick Sun 16-Jun-13 21:52:02

You do not give nannies working hours and your pay figure looks possibly a little high unless you are in London. You should also note that the nanny does not charge £10ph net. You as the employer decide on the salary and offer them a salary Gross... so £10 per hour gross, more in London such as £12 per hour gross.
If nanny is doing a 12 hour day, 4 days per week, then that's 48 hours a week so it will be a lot. At £12 gross per hour, that is over 2500 gross per month, and employers NI adds around £260 am month. Then there are the additional costs to take into account. More about that sort of thing over on the childcare board and on here.

Lets say total cost of nanny is £35,000 which you have to pay from your already taxed income. So based on 944L taxcode, you need to have an income of £49,000 to take home a little over £35,000

Then you have your living costs, travel to/from work, pension, all sorts of costs for your family... so that cost would need to be covered by your partner. Yes I know in RL it is not as simple as that but for the purposes of this, if say all your income went to paying childcare, then all your partners income would go on the other costs of living. How much your livings costs I don't know but I expect they could well be £35,000 plus given you are paying over £20k on your mortgage a year.

So combined income of £100k is possibly what you need.

So YABU in saying it's over £120k, as you are not giving costings for your living costs... which if it was over £120k, your living costs would need to be over £48k - which they may or may not be.

redexpat Sun 16-Jun-13 21:52:25

Au pair?

ghayes Sun 16-Jun-13 21:53:46

Move to a less expensive house. The vast majority of couples in this country earn about 1/3 of what you do and manage to get by without a nanny.

TondelayoSchwarzkopf Sun 16-Jun-13 21:53:52

Why don't you have a nanny share or a childminder? That would be the solution IMO.

Or an au pair with FT nursery for your youngest?

marriedinwhiteagain Sun 16-Jun-13 21:54:36

Can she live in - if not probably a childminder. Or you just have to suck it up and pay up and accept it's hard to get back on the corporate roundabout if you get off. Depends what you want in the long term.

With a mortgage that size the figures don't seem so silly to me. If you are in London 110k combined isn't a huge amount and probably wouldn't cover a large mortgage and a nanny comfortably.

ghayes Sun 16-Jun-13 21:55:09

How much does 110k pa come out to per month after tax? £6k ish?

SESthebrave Sun 16-Jun-13 21:55:41

I agree - huge mortgage which was and is our choice. We could move and make that less. We consider this our "forever home" though so would rather compromise on other things.

We obviously did think about this before having children but just having to make very real decisions at the moment.

Viviennemary Sun 16-Jun-13 21:55:50

I think it does depend on where you live. London nannies seem to cost a fortune. And I agree that you could probably find a nanny for less than £10 an hour net. It is only for a relatively short length of time in your working life so just be prepared not to have a lot of spare money as it will all be going on childcare.

And also the size of your mortgage seems large. I don't know what your net income is. But £1,700 mortgage and £1,500 or more childcare. That's over £3,000 before you've even started to eat and pay other bills.

FunnysInLaJardin Sun 16-Jun-13 21:56:34

yes, we earn £90k at a low tax rate and can just afford CM for DS2 plus wrap around care for DS1. Taking into account our outgoings there is no way we could afford a nanny. That us both working FT and max hours for a happy family

joanofarchitrave Sun 16-Jun-13 21:57:27

If your nanny is Ofsted registered or willing to become so, you can use childcare vouchers for part of her pay (or at least you could, a few years ago). I don't know if it's normal to fund the registration process (it includes the nanny doing a first aid course for example) but we were part of a nannyshare arrangement and we did this.

You need to be able to cover her net salary of ?£100 a day/2300 a month/27,600 a year (GAH i wish nannies would stop quoting net figures, it's so hard to work out) and tax/NI which is billed every 3 months - I remember it feeling as if we were paying another month's salary on top, so that would be around 9,200 a year. So about £37,000 a year. Plus paying for her fuel, the things the children do, entrance fees etc - I remember feeling that £10 a day didn't seem to go very far once fuel was included. We were part of a very inexpensive nannyshare for 3 years, but once we were employing one ourselves, we tried to do it for a year, but could only afford nine months - I felt rubbish making her redundant after such a short period, we really hadn't done our sums very well.

TBH if I were you I would decide what you can afford to pay, on an ANNUAL GROSS basis, and offer that. And look into childcare vouchers.

Notcontent Sun 16-Jun-13 21:58:06

Can I just defend the OP?
A lot of people have nannies, not because they are particularly rich or idle, but simply because it's the only type of child care that will let them work the hours they need to.
I do a fairly ordinary job in London but earn a reasonable salary. I am a lone parent and can't use a child minder or after school club because i cannot guarantee to be back from work on time. I juggle things to afford a part time nanny. It's not a luxury. I would love to be able to do things differently but then I would have to rely on benefits.

TondelayoSchwarzkopf Sun 16-Jun-13 21:59:39

FWIW we earn £120k+ and struggled to afford an FT nanny on around that salary. We had been in a share which ended - so being sole employer was not our initial arrangement. Our mortgage is a bit higher than yours though.

I would really not sweat it for a nanny - CM is the right route.

Mimishimi Sun 16-Jun-13 22:02:51

That sounds about right. However, I don't think what the nanny is asking for sounds outrageous. It's still a very moderate income for her. A childminder sounds like your best option but you may still have the hours limitation ( eg needing to get back to them by six). An au pair is not supposed to have sole charge of a young one but could you look into combing both a childminder and an au pair to cover the hours you can't be there?

FunnysInLaJardin Sun 16-Jun-13 22:03:13

and yes, out mortgage is higher than yours, around £2,300 pcm. Our CM is great and very flexible. Just as good as a nanny IMO

SESthebrave Sun 16-Jun-13 22:04:21

We live NE Surrey between Gatwick and Croydon.

I'm starting to think we'll just have to look at a number of childminders and go with one we feel best suits.

I don't work in a fixed location and could be anywhere between Chichester & Brighton and up to Gatwick, Reigate and across to Guildford, Farnham & Camberley.

nannynick Sun 16-Jun-13 22:06:06

A lot of people have nannies, not because they are particularly rich or idle, but simply because it's the only type of child care that will let them work the hours they need to.

Notcontent - I fully agree.

The hours that childcare is needed can be a reason why a nanny is the only option, other forms of childcare do not open as early, finish as late. Another reason is the number of children, OP currently has 2, but if they had 3 or more than a nanny becomes more of the option to consider as nannies are not paid on a per-child basis, unlike other forms of care.

Childminder is a route to look at, if you can find a childminder who will do the hours of care you need. Many will finish later into the evening these days, though do remember they have a family of their own so they may well not want to work late.

FunnysInLaJardin Sun 16-Jun-13 22:06:39

our CM works for us because DH collects the children at a set time every day. Usually about 4pm as he teaches. She is available though until much later if we need her. I drop off at a set time every day - about 9.15am although again she is working from about 7.30

Our nanny is about £1500 a month all in and it's crippling! Nursery would be about 1200 for both I think. I need flexibility though so went for that route. We chose an inexperienced nanny (who's worked in childcare before), so worked out cheaper for us.

SESthebrave Sun 16-Jun-13 22:08:15

The nursery we currently use is 7.30am-6.30pm. We don't use those full hours routinely but do need to sometimes - maybe once a fortnight. Normally we drop off about 8am and pick up about 5.45pm. It seems like a flexible CM will be our best option.

Many thanks.

conorsrockers Sun 16-Jun-13 22:08:16

It's hard to comment on your sums when we don't have all the information (although I'm not asking for it!!!).
£1,700 is a fairly hefty mortgage, but that's a choice presumably you made knowing you were going to have children. As other people have hinted - childcare costs are freely available before you have them, and it's a huge part of the deal if you intend to carry on working.
I didn't hire a nanny (although it would have been cheaper than several lots of day care fees), just because, for me, the potential personality clashes/sickness/holidays/days off etc... etc.... were too much of a disadvantage. But every situation is different.
An au pair sounds like a good idea (if you have the spare room and are happy to welcome someone else into your 'family') as does a childminder on an hourly rate.
Why do you need to move your other child if they are already in nursery? I'm assuming you don't have any family close by that could pick up in an emergency?
There is only going to be a small percentage of people that will/can 'sympathise' with you here, I'm sure you already appreciate that.
However, in answer to your question - no, I don't think you need > £120,000 to hire a nanny, but it is going to depend on what you are spending the other £45k on .....

nannynick Sun 16-Jun-13 22:09:21

SESthebrave - post on the mumsnet childcare board about what sort of typical salary you would need to pay a nanny in your area. Define if you are inside or outside of the M25.

Kent can be costly, not sure about Sussex. Surrey seems to vary, though I have known costs to be £7 gross per hour upwards... with £10 gross not being uncommon outside of the M25, higher inside the M25.

Wave as you come towards Camberley... I'm in that area (M3 side of Surrey, just below the M25)

TondelayoSchwarzkopf Sun 16-Jun-13 22:10:57

A lot of people have nannies, not because they are particularly rich or idle, but simply because it's the only type of child care that will let them work the hours they need to.


I don't think what the nanny is asking for sounds outrageous. It's still a very moderate income for her.

And this. I get really angry when people say 'childcare's so expensive' - £25-£30k is not a huge wage for someone in London who needs to regular update their training, be CRB checked (I know it's called something else now) and have significant responsibility / duty of care.

The issue is that most wages are too low to cover childcare and the government does not support parents and childcare providers enough in subsidy etc.

Nannies don't 'charge' so to speak, you set the wage and see who applies, however you will have those who want more/less depending, a nanny relatively new to the job might suit? They would be cheaper then and as DD will be a year it would make a good position to start in. I'm surprised that nanny gets 10net tbh, I'd have thought that or slightly more gross would be more likely your way.

Definitely look into the vouchers, in one of my jobs (two days a week one) most of my wage is paid by vouchers so it can cover a good day and a half of wages which will help.

marriedinwhiteagain Sun 16-Jun-13 22:14:07

I think a bit of flexibility can help too. Can your DH do morning drop offs and work late whilst you go to work early and get back a bit earlier for the evening pick-up or vice versa? If DH and I could have done that I probably wouldn't have had 8 years off!! But ours are 15 and 18 now.

SESthebrave Sun 16-Jun-13 22:15:01

In an ideal world I don't want to move DD from nursery as she has settled there and I am very happy with the care they provide. 2 separate drop offs to nursery for DD and CM for DS are not ideal but may be something we need to compromise on.

An au pair may be an option for the future but I believe DD is too young to leave in the care of an au pair and -despite our huge mortgage - we only have 3 bedrooms.

edwinbear Sun 16-Jun-13 22:15:05

YANBU. DH and I have a higher combined income than yours and we can't afford a nanny either. Our mortgage is similar to yours at £1,300 a month. We currently pay £2,400 a month for a nursery who take our two dc 4 days a week, from 7.30am - 6.30pm but we still can't quite stretch to a nanny with the tax and NI on top. DS starts school in Sept and DD will also need to be looked after for 4 days a week, but we are using a local childminder who will do the school runs, look after dd and also ds during school holidays. I would prefer a nanny, but finances simply don't allow.

maddening Sun 16-Jun-13 22:15:08

I bet it's not just the mortgage - I am sure that there is lots you could cut back on if you wanted - you most likely have an excessive lifestyle.

what is your net income and other large expenses per month?

And a big no to an at pair, they should not be in charge of under threes more should they work more than 25 hours a week!

Quangle Sun 16-Jun-13 22:20:50

It all comes out of net income, unlike a chauffeur which can be classed as a business expense hmm. That's why employing a nanny is so expensive compared to the other people I employ (I run my own business so am an employer at work and at home).

Nanny is the only option for me too. Single parent, living in C London.. There are no childminders in Our area - its very expensive to live here and the social housing changes will worsen this as the few childminders left round here will end up having to move out eventually. No after school provision either.

Our mortgage is considerably lower than yours, but even then I can see that we would need to earn about £120k to afford a nanny 4 days a week at £10 ph net (about £12.50 gross). I am a bit puzzled as to how my parents afforded nannies when we were young as they weren't minted.

Mimishimi Sun 16-Jun-13 22:39:03

Breatheslowly : Supply was higher most likely.

LadyRabbit Sun 16-Jun-13 23:36:08

Look OP, some people on here are going to get their knickers in a twist about people earning a decent amount of money. So it would probably have been better if you hadn't been quite so open about your earnings.

However, YANBU and if you live in London within zone 2, then £1700 PCM for a mortgage is par for the course. However, NEVER BEMOAN PAYING TOP WHACK FOR GOOD CHILDCARE. I get very p***ed off when people moan about paying someone to do the most important job in the world - looking after your child. Either pay it, and cut back where you can; or figure out a way to not work and look after kiddo yourself.

But childcare should cost a decent amount of money. It's a really important job. It's just a shame that the present government doesn't see fit to cut any working mothers any bloody slack at all and no part of childcare can be deemed a tax write off. It's common place misogyny if you ask me.

Dontsshme Mon 17-Jun-13 01:47:13

Maddening "I bet it's not just the mortgage - I am sure that there is lots you could cut back on if you wanted - you most likely have an excessive lifestyle."

What a silly assumption.

maddening Mon 17-Jun-13 07:25:18

Really dontsshme? - say they have £85k after tax. The mortgage is £20k per year and allow £2k pm for normal living cost such as food, ct, electric and gas, tv licence, bb, mobile phones, and home/car insurance that leaves approx £40k after mortgage and normal living costs.

So unless they have other large outgoings such as debts or v high travel costs ot v high hp agreements it is likely that there are things they can cut back on to afford it.

MammaMedusa Mon 17-Jun-13 07:56:23

Our mortgage is £1700 pm for a modest house which, while broadly sound, needs updating throughout. That is what happens if you have needed to buy in London recently. We need to be in London for all sorts of reasons - we're not in Chelsea or anything either! We are in a green-ish part of Zone 3. We waited and waited for the market to fall. It never happened. Mortgage companies were starting to look askance at my husband, as he no longer had 25+ years to retirement to pay off a mortgage - that was only going to get worse.

So all you saying £1700 is enormous, yes it is, trust me, we feel it! But it is not necessarily the case that someone with a mortgage that large has made a ridiculously extravagant purchase.

I would try for an older au pair living in, you still may have to go over their allocated hours for the week, perhaps your younger child could attend some nursery sessions during school hours?

You will have to suck it up to a certain extent and remember this is an expensive phase WRT childcare. I breathed a huge sigh of relief when youngest became eligible for 15 funded hours and then again when youngest started school. Now it is just the school holidays which are a struggle, whereby I basically work for free, but essential to keep my job/career going.

TheDoctrineOfAllan Mon 17-Jun-13 08:20:18

Leave your DD in nursery and look for before/after school childminder.

Switch to interest only on your mortgage for a bit?

Nanny share or nanny with own child might be cheaper.

amandine07 Mon 17-Jun-13 08:28:18

Wow, all the sarcastic, bitter posts.

I got the impression that the OP is trying to work out where she can make a saving and see whether she's paying over the odds for childcare.

I don't have children yet, but I'm dreading the day we need to sit down and work out childcare.
Giving up your career is not an option for everyone, although I can see how somebody may change their mind once they have kids & reality kicks in.

MarshaBrady Mon 17-Jun-13 08:31:54

It's very expensive to work (and obviously live) in London. I'm not surprised you arrived at that amount.

amandine07 Mon 17-Jun-13 08:34:04

I would say that a mortgage that size is definitely not unusual in London.

It won't be for a mansion either before people start jumping up & down about excessive lifestyles. I have friends who own a 2 bed terrace and pay a couple hundred less than that.

It's a shame that a poster can't just be open about their situation & earnings on an anonymous forum, for fear of getting someone's knickers in a twist with jealousy or bitterness. confused

MarshaBrady Mon 17-Jun-13 08:37:33

It's interesting to think about what the second earner in London has to earn to make it worthwhile. As whilst household income goes up, so much goes on tax and childcare.

It gets better when school starts, although all those holidays and a long break might not work.

Redbug Mon 17-Jun-13 08:39:10

We earn a lot less than that and have a nanny, but we are in the SW and housing and nanny wages are cheaper. However, I would say that of you can make some cuts to afford it, it is SO worth it. Our nanny keeps our house tidier than I do half the time (she is not a cleaner, but loads dishwasher, hangs out laundry, tidies up after kids), I don't have to rush to get the kids out of the door in the morning, and they are always having adventures together. We haven't been abroad in five years however...

SESthebrave Mon 17-Jun-13 08:55:48

The thing is, although I believe we are fortunate, I don't feel we are indulging in lots of luxuries. It is more how our life is set up. I think as I've said, that we'll look for a CM we do feel happy with.
We reviewed our Sky package 18 months ago and are now on Freeview. We haven't had a holiday abroad since our honeymoon 7yrs ago. Instead we travel to visit ILs in Ireland 2 or 3 times a year. We do have a cleaner once a week (£30) and we pay £20 a week for someone to come and walk the dogs whilst we're both at work. The dogs are another expense - food, insurance, grooming.
We also both spend a lot on fuel as we travel a lot with work. We are able to claim some of that back.

I'm tempted to delete the above though as I think this thread has now helped me to accept the reality of how we would need to change to afford a nanny and we will keep DD in nursery and look for a CM.

HappyAsEyeAm Mon 17-Jun-13 09:07:30

We have a nanny, and are in a very fortunate position to eb able to afford it. She works three 11 hour days a week looking after DS1 (5yo) and DS2 (1yo). It is the only form of childcare that works for us, as DH works long and unpredictable hours, I leave early in the morning and I sometimes have to work late. We both have a 2 hour commute each day.

Childminders don't start early enough every day or work late enough on occasion to be an option. Nurseries and before/after school clubs aren't an option for the same reason. Our nanny is great. We also don't have problems covering school holidays and she will look after our DC if they are unwell, take them to the doctor etc. She has also on occasion taken them for haircuts, new shoes, have passport photos taken etc, and she is a great help to me at home with doing the DC's laundrty, some cooking etc. Its flexible care, and it works really well for us.

I don't want to say our combined salary on here as I know it will get peoples backs up. As I say, I know we are in a fortunate position. I don't begrudge our nanny our salary (and I understand that you wouldn't either OP). She works hard and she deserves that salary. My gripe (obviously not directed at her at all) is that we have to pay her salary and NI out of already taxed income. Unlike a business. I think this is something that the government should change.

Also (and I get that you see this too OP), I think everyone should look at childcare costs as coming out of the parents' combined salaries. Childcare is a shared expense. It should not be seen as just coming out of the mother's salary. Very often I see mums saying something along the lines of "I earn £X, and I pay £Y in childcare which means that I work for £Z per week". If you have a career, or a job you enjoy or need or whatever, you are working so that you have that job or career in the future, when your childcare bills may have reduced. And work is about more than money.

Have you thought about having a live in nanny? Their wage would be reduced as they have their rent etc paid. Might work if you ahve a spare room.

Also, look into you and your DP being paid the maximum anmount you can be in childcare vouchers, and employ an Ofsted registered nanny so that you can pay her/him partly using those vouchers. It makes a difference.

IME, nanny shares can work very well. But be aware that a nanny working as a nanny shre will command a higher salary than a nanny who works for one family (even if she is looking after the same number of children). Sure, it would be less that you would pay for sole charge, but it won't be half.

HappyAsEyeAm Mon 17-Jun-13 09:08:57

I don't begrudge our nanny her salary.

primallass Mon 17-Jun-13 09:22:02

What about school holidays?

A childminder sounds best for you. Your daughter has settled once and will settle again

Mimishimi Mon 17-Jun-13 09:53:44

HappyasEyeAm's post is generally excellent. If you will be paying £1300 a month for childcare anyway and a nanny will cost £1500, it's worth paying that extra £200 just for the flexibility. A childminder won't help supervise homework, do outings, cook some dinner for the children/family ( unless that's part of the arrangement), help keep things at home tidy and it might be difficult to find a flexible childminder in an expensive area (since they are few and far between, they have more clout to be strict with hours etc).

I don't understand why governments across the Western world do not make childcare tax deductible when they are panicking about 'native' birthrates and not enough young people to provide 'labour market flexibility' (cheap labour, cannon fodder etc) currently and in the future.

SHarri13 Mon 17-Jun-13 10:09:17

I don't think £1700 is a particularly huge mortgage for where I live, pretty average for a large 3-5 bed house.

OP, a friend of mine pays her Nanny £1500 for three days a week and she's in the Surrey area. I think they're pleased with the set up, I think it worked out at approx the same prices as a nursery for her two.

SHarri13 Mon 17-Jun-13 10:09:41

I meant 3-4

badguider Mon 17-Jun-13 10:17:16

To answer the question in the thread title - If the nanny is living on £10ph net then surely to be able to afford her you only have to be earning £20ph net between you? One to pay for her and one to have the same standard of living she has.

What is that in terms of a yearly gross salary? something like £40-50k?

But... when talking about mortgages etc, it's clear that the question isn't about affording a nanny but about affording it on top of other things like a large mortgage etc..

TheSmallPrint Mon 17-Jun-13 10:24:52

A nanny share was the only way we could afford it. It does cost a lot otherwise.

HappyAsEyeAm Mon 17-Jun-13 10:31:30

well thank you very much Mimishimi! grin

jollyhappy Mon 17-Jun-13 10:37:38

Ofcourse it is not a ridiculous post.

I think that some people with small mortgages have no idea how expensive it can be to buy a house and then pay a mortgage these days.

My husband and I are on the same and we were not able to save anything. As once mortgage (ours over 2K) and nursery plus working long hours.

I think you need to earn 50 to 60 K gross to pay for a nanny in London.

specialsubject Mon 17-Jun-13 10:41:05

the OP has a job that involves long hours and massive journeys - that's the modern culture in London and the SE. These jobs (hopefully) pay well but are simply not compatible with childcare. So the OP needs help, and only a nanny will cover the hours needed. The 'presenteeism' thing has got much worse over the last twenty years, too. With the internet, skype etc there should be less commuting, not more - but it hasn't happened.

and as someone else points out, the nanny is paid for from taxed income, and then the employer pays the NI etc for the nanny. So it gets pricey.

BettyandDon Mon 17-Jun-13 11:16:52

OP, my before children income was about £65k, my partner about £50k, so together about 115k. I worked out how much of my salary was left after childcare and decided not to go back. My specialism is quite unique and am confident I can get a job again when I want (well I still have recruiters calling me and it's been 3 years).

Our mortgage was 1450pcm. I actually think thats really quite low for around here in London.

Just highlights how different people's lives are around the country.

I think very few people can afford a nanny without 2 very large salaries or an expat package or something, or money in the family or being mortgage free or by having a low mortgage due to gaining a lot of equity with the housing boom. Most people probably don't admit the last 3.

Hi OP.

We were in a similar situation to you, and for a few years, childcare costs were massive. I was effectively a single parent (DH was abroad a lot) and had to leave c7am, returning c6pm for work in central London. We used ft nursery for 2 DSs, plus an AP. DS2 was 1 when this started, but the AP only had sole charge for limited periods.

This worked for us, but we were lucky enough to have space for the AP.

A dedicated nanny was not something I ever wanted - and the costs are eyewatering. I was 110% happy with the nursery we chose, and the boys loved it and got a lot out of it. Some of our APs have been fantastic, others less so - but given the boys had the stability of nursery, short term AP problems have been less of an issue.

I think you have had a hard time on this thread.

needaholidaynow Mon 17-Jun-13 13:00:06

That is a real shame OP. how very very difficult it must be for you.

A lot of the sarcastic posts are not because of bitterness or jealousy about salaries, it is about the assumption that it is salary that matters, rather than what one spends it on.
Many people have nannies on far less than £120k per annum. If one wants a nanny, isn't the usual way of doing it to see how it can be afforded rather than saying its because their salary is £10k short? (which is what comes across as entitled moaning in the OP)
I earn less than £120k, as most people do, but I own my house outright so I imagine my disposable income is quite high, there are far too many variables to claim it's just about salary.
Anyway, it's all moot as the OP has received some very good advice about affordability.

TheDoctrineOfAllan Mon 17-Jun-13 15:05:54

WhereDo, the OP said "I don't see how we can afford it" - that does not seem like self-entitled moaning to me.

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