felixfelicis1 We got an British ex-nursery worker who wanted to make the transition to being a nanny from au-pair-world.net, who was live in that we paid £150 a week (net, about £160 gross) while I was at home looking for work and doing shared care - and then £225 a week (net, about £280 gross) after I found work (yes, I did think that wasn't a great salary, but she was very happy with it and we would have gone higher if she'd have pushed/asked for more).
She was very good, had experience with children, and was happy for a reduced wage for the 50 hours we wanted her to work as she was building up experience.
She stayed with us for 10 months, and had sole charge of my 1 year old from when I started work. We trusted her implicitly, and she had the paediatric first aid certificate and some Early Childhood qualifications (she was studying for her level 3 NVQ while she was with us)
In retrospect, there were some minor issues (she did struggle with not having 'breaks' like she had at nursery, living in with her employer was tough) - but was balanced out by the cost issues for us.
If we did it again - I would probably pay an equivalent person more (as when she found out that she could get paid more with another family, she left - v. annoying as I was planning to give her a payrise to £300 a week when we hit a year and renegotiated the contract, but hadn't mentioned it to her before she started looking); and then the change to £350 (net, £500 gross) wouldn't have been such a massive shock to the system!
So, rather long post just to say that getting an inexperienced nanny can sometimes be cost effective too - if you have the room in your house!
PS we live in London and our inexperienced nanny did four days (three full, two afternoons - while our son was in nursery) and our experienced once (Norland) does five full days - both 8am-6.30pm.