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How much of a salary would you need to justify a Nanny?(76 Posts)
... I'm just mulling over some ideas (and a bit of dreaming!!). I went for a job interview yesterday (1% chance of actually getting the job BTW!). If I got the job... and when DH gets his managerial position next month our joint income will jump from 33k to 65k.
BUT we would need flexible childcare to make that possible.
Could we have a parttime Nanny? Say 3 days a week? And if so, what would the hourly rate be for looking after a 4 yr old and a 1 yr old?
I'm in Scotland BTW so there isn't the problem with London prices.
Also are there other alternatives? Could I hire Childminder to watch the kids at our house?
With no expertise at all, I would say that a childminder who looks after kids at your house is a nanny, just without a formal 'nanny' qualification (nb may well have more qualifications than other unqualified nannies, no dis intended to childminders!)
With 65K coming in you have got to be able to afford a nanny, surely, although I doubt you would see much of your increased income. But IMO most nannies are paid a salary not an hourly rate? and don't forget the employment costs which I think cost the family who employ the nanny ds goes to at least £2K a year, plus pension.
I think p/t nannies must be a possibility. Possibly a nanny-share, which is what I have and which is unbelievably wonderful? try Shared Care
Sorry, can't find the website now, it's mentioned in other threads tho. I didn't in fact find my nannyshare through it, I found mine through my local community newsletter. May be worth advertising.
I doubt £65k is enough tbh, well, I don't think it would be down here but I could be wrong. Have you got an equivalent of childcare link on a gov site there? A nanny share (where you share the cost of a nanny with another family and thereofre they're in your house sometimes and theirs sometimes) sounds cheaper, worth looking into.
Don't think you'd have very much left over at all, tbh.
What's wrong with a standard childminder? (i.e. in their house, not yours?)
We live in a 2 bedroomed ex-council house in an average area.... so we'd love to move to a bigger house. But like you mention I'm worried that if we get a Nanny that our extra income goes straight to her! We'd be the only people in our rough-arsed mining village to have a Nanny!!!!
I've been thinking about this a lot lately. IMO DH and I will feel positively rich on that salary (in fact.... we'd feel rich earning a lot less!!!!!) So I conclude that for it to be worthwhile having a Nanny you'd have to be earning much more!
Carolinamoon - Its flexibility we need. DH's day off will change all the time and there may be some unsocial hours involved (ie. before 8am and after 6pm).
Plus we have just terminated the contract with dd's childminder as she kept 'phoning in sick' right before we were due to drop dd off! So I suppose we need much more reliability too.
Will definitely look into Nanny share. Thanks folks.
sorry to be the voice of doom again, but if the day off changes quite frequently aren't you going to have to pay for a full week anyway, whether or not you use it all?
oops, typed too slowly!
I saw your thread about the childminder Toothache - hope you can find something more reliable.
Not looking good is it.
I refuse to believe that by more than doubling our income we STILL cannot afford adequate childcare!!! and
How do people manage???
Well....currently our joint income is a bit more than 65k and we need childcare for 3 days a week (2 children). We live in NE England so costs are not as high as down south. When we had two children at nursery with no discounts for 3 days a week it was costing about £730 a month. I did look into changing to a nanny for both of them and I think I concluded that for 3 days a week (27-30 hours) it would cost around £900 a month based on a net salary of about £6 per hour. If you set yourselves up so that you could pay her with vouchers this would save you around £150 per month (both using the maximum value of the vouchers).
Basically I concluded that it was quite a bit more expensive than nursery but probably not prohibitively so if I really wanted to do it. I was mostly put off by the hassle of being an employer and the risks of it all goign pear shaped.
Affordability though depends on how much the rest of your outgoings are - we have a very small mortgage for example.
if you have a spare room the cheapest way is probably an au pair (or "au pair plus" for a more experienced childcarer). that's about £60-70 a week plus room and lodging, more if you want them to do lots of hours. i looked into it, there are lots of experienced eastern European nannies looking for work. but it's not recommended to use an inexperienced young au pair for long days of childcare.
We have managed okay on a joint income of £33k. We too have a low mortgage, really need to move to a bigger house though so that will increase.
It's so disheartening!
Fennel - Didn't see your post there. We are spilling out of our 2 bedroomed house at the moment.... so and AuPair isn't an option unfortunately.
hmmm my salary, when I worked, was around that and if you lumped it in with DH's we were doing extremely well but I still didn't feel we could afford a nanny at the time .. it really depends on your outgoings TBH
Don't forget that with a joint income of 65K you lose all tax credits for childcare, and that the nanny's salary and tax will come out of your net income.
It may not seem woth it at the moment, but in a couple of yrs both kids will get nursery education grant and then go to school, so then your childcare costs reduce dramatically.
A collegue of mine admitted that she worked for virtually nothing when both kids were in nursery, but it was worth it to keep her career going and benefit when the kids were at school.
Okapi - We get only a tiny amount of tax credits anyway. Our current outgoings for all bills and food (not including childcare) is around £1400 per month. So we would have around £2400 per month for extras and childcare. SURELY we could pay a part time Nanny??
well, yes, I would say you could afford a nanny - really the decision is yours as to how you want to spend the extra money!
Elliot - Thats true. I wouldn't want to have all that extra income and still not be able to re-carpet the kids room or put a fence up in the garden!
Perhaps if we manage to get a bigger house we'll have room for an Au Pair.
Anyway... I'm not going to get the job..... was really just dreaming of what it would be like!
register with an agency. There are nannies out there who are wanting part time hours (usually with own child or older so want less hours) and some can be flexible, it's just a case of finding the right one but looking can't hurt.
With pay set out an agreed rate then it may need raising for any unsociable hours agreed with a certain amount of notice (one week maybe???)
What do you mean by flexible childcare, Toothache? Do you mean your hours will be variable so you won't be doing a regular working day? Most day nurseries are open from about 7.30 -6pm so if you were within those hours I would choose that option. I pay about £29/day - 3 days a week for 2 children would be about £1000 (eek! But presumably your 4 year old will be starting school soon?) Day nurseries can be flexible because they won't go off sick! A nanny share sounds a good idea but something I know nothing about, unfortunately. Like you say though, doubling your income should mean you can afford it, although sometimes it does seem as though you're working for nothing, I admit!
Have you thought about a nursery for 3 days a week, toothache?
Note that the childminder-in-the-nightie has been given her marching orders! Have you got anyone else lined up?
I'd ring a couple of nanny agencies, IME they are very willing to tell you exactly how much a nanny will cost.
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