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How much does a nanny cost?(21 Posts)
I am clueless!
Our jobs are chnaging over the next couple f months and Ia m re consideing our childcare. Lilely to need childcare 5 days a week. Have a 2 yr old (currently at nursery 4 days a week) and a 5 yer old at school and using breakfast/ fater school club 4 days a week.
I would need someone to start early (7,30?) a couple of days a week and 8.30 ish on other days. Prob working till 5 4 days with eary finish once, so guess ia m looing at a full time nanny, but def not living in (no space!) all would consider nanny 3 days a week and existing arrangements 2 days.
In East Midlands, so what cost am I looking at?
We pay our nanny £8 an hour. That's for one kid though - might be more for two.
What do you mean by cost? The cost of a nanny goes beyond purely their salary. Very roughly a nannies salary outside of London will be around £10 gross per hour. Then you have Employers NI, payroll admin costs, Nannies lunch, Outings/activitied budget, Travel costs on duty, heating/lighting home costs to add.
Ok so would you usually pay for actual hours worked, rather than a fixed salary? Although both our jobs are 9-5, our actual hours vary due to travel etc, so would not be exactly the same every week.
Nannynick I guess I need to understand the complete cost,so need to know what NI etc adds up to
you would be better off fixing a daily rate for hours say 8-6.30 then if you get home earlier to let nanny go
having 2 children shouldnt make a nanny more exp - nannies are per family not child, like cm/nursery
You can do a Gross annual salary for a specific number of hours a year. Or could agree a monthly or weekly amount. I prefer annual but then I've had non-nannying jobs prior to nannying.
What hours are you needing... looks like 0730-when? Consider the typical finish time your nanny would have - it isn't a problem if you get home sooner... nanny can continue working or you can let them go home a bit early (helps build up brownie points, for when the trains get delayed and you end up getting home late).
Would avoid too much juggling around if I were you... as what would happen if school/breakfast club/after-school club was closed, what happens in school holidays, what happens if your children decide they want to do some kind of activity after-school such as swimming lessons, dance lessons, rainbows/beavers etc.
If 7.30am-6.30pm, then let's say nannies wage was £10 gross an hour (not unrealistic for outside London I feel, though you can get a feel for local wages by looking on nanny recruitment websites). So £110 a day. 5 Day working week. Based on 2860 hours per year, gross salary of £28,600 per year. Payroll Calculation by ListenToTaxman.com Employers NI is nearly £3,000
So Salary plus Employers NI, plus the services of a Payroll Admin company puts the cost up to £31,715
Weekly expenses kitty (for activities/outings) - lets say £5 per day, so let's call it 250 working days per year to keep it a round figure (this would thus be a little higher than actual, though around £50-£100 annual difference) Kitty = £1300 On top of that you may pay for some more costly activities, such as swimming lessons, music lessons and the such-like... but those are of course very much optional and if you do them you would probably be doing them regardless of having a nanny or not.
So running total so far £33,015
Nannies travelling costs whilst on duty will vary from situation to situation. If nanny uses their own car, then employers would usually reimburse the cost at £0.40 per mile (this is known as the Approved Mileage Rate). How many miles your nanny does will vary. I do quite a lot, around 4000 miles a year so a cost of £1600 a year.
How much travelling around would your nanny be doing... I don't know. One advantage of a nanny is that they can take your children to places of interest - museums, sculpture parks, country walks, farms, historic buildings, steam trains, water mills, all sorts of places. I've been know to ask a child to suggest a theme... 4yr old says Helicopter... so we find somewhere he can sit in a helicopter. Not all 4 yr olds can say they have been in a helicopter (even one which doesn't fly!) If you restrict your nannies mileage, it can restrict your children's desires to understand the world around them.
So lets add £1500 for travel, pushing our running total to £34,515
While your nanny is on duty, you give them food and drink. Nannies don't really get a lunch hour, can't leave your children home alone. So food is seen as a sort of perk in compensation for working without a break. How much does that add to your weekly food budget... I'm not sure. Nanny will eat with the children, so eat the same thing. If nanny wants something different, I feel nanny should be buying that themselves. So increase in food bill, extra £3 a day maybe? Heating/Light will also be used more as nanny is around during some of the day, so another few pounds. There is also some additional wear and tear on the property. Shall we lump all these types of cost together... call it £10 a day. Is that too high, or too low?
Using the working days figure from before (250 days) which is a bit higher than actual, as nanny would be having more paid holiday than that, if £10 a day is used as a rough figure for food, heat, light, w&t, misc costs then that's an extra £2500 a year.
Our running total is now £37,015. Lets call it £37k.
So I would say a nanny working 55 hours a week, will cost you as the employer around £37,000 a year.
Anyone have any views on that? Is the figure realistic?
i am about to faint.
£37k ? and that's OUTSIDE lONDON?
Who can afford this amount? seriously... Far better off being a stay home mom.
Well if you get an approved nanny who is registered with OFSTED and your employer offers childcare vouchers then you can benefit from a salary sacrifice scheme.
Being in a share would reduce the cost by around 40% for each family - the nanny would have a slightly increased wage to compensate for having 2 employers.
Haing a live-in, having a non-driving nanny or limiting mileage, having a less experienced nanny, doing payroll yourself and reducing the amount of kitty money all bring the cost of a nanny down but people can spend a LOT on their nanny.
In that scenario the nanny was working 11 hours a day, 5 days a week - so 55 hours a week. That may be quite typical for nannies to work, though I only work 40 hours a week (suppose that means I'm a part-time nanny).
London can up the costs by a few more £ per hour, which will have a knock on effect on the total cost. As frakkin says, costs can be lowered by reducing things like mileage - in London for example you may want nanny to use public transport more, thus need to factor in cost of a travelcard instead of mileage.
Some costs are hard to quantify - extra heating/lighting, additional wear and tear are examples. My estimate for those may be a little high, though could equally be a little low. A nanny kitty of £5 a day isn't a lot, if the family has several children... so the more children, the more the kitty may need to be. Though in some area's there are lots of free things to do - in my area, museums often charge whereas in London I think many are now free again.
Parents can certainly spend a lot on their nanny... consider how much for example the room a live-in nanny actually costs to provide... given house prices in some areas that room is very valuable. Nannies may get a car to drive, again that's an extra cost - though in that event there would not be mileage payments... though they would be fuel payments, cost of taxing the car, cost of maintenance, car insurance etc.
Nannies I feel are more viable when you have several children, as unlike other forms of childcare a nannies salary isn't a per-child fee, so the more children there are, the less the cost per child as it were.
Nannies in the East Midlands are a lot cheaper than most areas. You would expect to pay £6 - 8 for a full time nanny.
Are nannies that much cheaper in East Midlands then... £6-£8 gross seems quite low. You did mean Gross presumably? Mind you, I'm in Surrey so hard for me to tell typical costs. Shaving a couple of pounds an hour off the salary cost will help reduce overall costs, though may not affect the other costs involved.
The rate is not about location,but experiEnce, people!!!!!!!Do you think that seating on bottom at work is more worth than precious time with your own child!!!IF YOU PEOPLE HAVE SO MUCH FUSS ABOUT IT,GIVE A PEOPLE BREAK AND GET BACK TO HOME RAISE YOUR CHILDREN UP YOURSELF.
...OR FIND SOMEONE TO WORK FOR YOU FOR FREE.JUST WONDER WHY GRANNIES DOES NOT WANT TO HELP ANYMORE???!!!
Zombie thread alert
Appropriate, for halloween.
I'm in the East Midlands and I pay £11 per hour for my wonderful, experienced Nanny. She's only 18 hours per week at the moment (dc are at school) and we're looking at increasing her hours to include light housekeeping duties so looking at paying her £18k per year gross which equates to approx 30ish hours per week. If you can afford it, go for it. It's the best decision I ever made, after being a SAHM for 6 years!
I have just had a nanny for the last two years. She worked 37 (basically 4 days) hours a week and, adding everything in, I guess it cost around £22k a year which seems very expensive. However the quality of care my children received was off the scale when compared with my alternatives and she was worth every penny. I haven't in fact been able to get tid of her, as was the plan, and she still does 2 afternoons. She is very much a part of our family and my children love her.
I'm in the East Midlands and most of us nannies and agencies talk gross rate. £6 - 8 per hour for full time £7+ for part time. May pay a little more for a very experienced nanny
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