How much of a salary would you need to justify a Nanny?

[Toothache]

... 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?

TIA

Thanks folks. They are going to Nursery 2 days a week at the moment.... and will go 3 days when I return fulltime (mum watches them on a Friday, DH is off on a Tuesday).

3 days a week at the Nursery will only be £550 per month (sibling discount and preschool vouchers for ds). BUT none of the Nurseries around here let you drop off before 8am or pick up after 6pm. It's pushing it for DH to do it in time.

We'll work something out.

Toothache

At £6 an hour a nanny for 3 days a week would cost you £14040 a year roughly, which is £1170 a month.

Your additional income of £32k per year would leave you with about another £1600 a month after tax and NI, so you would still be around £400 a month better off than you are now.

Tanks Soapbox.

Batters - She could only watch them on a Friday.... as opposed to Thursday and Friday. We had major problem getting dd a Nursery space for a Thursday.... hence why we (briefly!) used a childminder for dd and a day Nursery for ds. HTH

Couldn't you pay a childminder to drop them off and pick them up from nursery and have them till you can pick up? A friend of mine used to be a nanny/childminder and quite a lot of her work was taken up by school/nursery runs. Don't know what the extra cost would be but it may be worth considering?

Great idea Wordsmith!!

My agency just phoned..... might be making me formal offer.... but less money... so a Nanny is definitely out the window now!!!!

lol... thats what I get for jumping too far ahead eh?!

yes but good on you anyway! you said 1% chance!
Congratulations!

Good luck Toothy, let us know what happens...

Im sure ive read in an article some where a parenty needs to be earning about £33k gross to cover nannies 'average' salary (cant remeber what was avaerag) but it rose to over £40k (parents gross for a live in in central london

thats so parent can be taxed....
then parent can use that money to pay nanny + nannies tax + employers contribuitions

its does seem to be alot!

well think i should become ananny if they get that tbh for 3 days work. my god

For DH & I, it'd have be significantly over the £110k+ per year we currently have coming in. Writing it down, that figure is pretty high and we don't live in London or have a fabulously luxurious lifestyle, yet the money seems to go in the blink of an eye..... With out current outgoings we couldn't afford to pay a nanny on our current income.

Fio 2... i think that was for a nanny working full time 5 days a week!

With our current...

...which just goes to prove you live up to your income, whatever it is!

I think that our joint salary was in that sort of region when we had a nanny (we live in SE London). From what you have said about your increased income I can't see why it would be a problem, but it does depend on what else you chose to pay for (holidays etc). Having a nanny is a massive luxury and IMO worth every penny. It's not for very long, and if you are on the career ladder worth it in the long term. You need to talk to local agencies and look wherever people advertise locally to get an idea of what it might actually cost you.

absolutely, wordsmith.

cant afford a nanny on 110K+

true

i suppose we could if DH slashed his/our pension contributions, but £1000+ in nanny salary would be a lot for us to 'find'.

where in scotland are u

I could afford 2 Nannies on 110k!!!!!!!!!!!!!!