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

£200,000

If you're looking at a nanny for 3 days a week it isn't necessarily a huge lot. There are still tax-free amounts each week (for tax and NI), so the extra cost of NI and Tax is propotionally less. In Greater London I end up paying £80-90 per day (10 hour days) for my nanny. Nursery works out at £65 per day for the 2 ds's. Haven't bother grossing up what I would have to earn to pay this as it isn't really an issue, but for me the question is around whether the difference in cost between a nanny and the nursery is worth it - definitely so in my view, but everyone has different views on this.

NDP - what do you pay in childcare?

Don't know where the 40k figure comes from, I used to earn a bit more than that living in Central London and I couldn't afford a nanny! Basic salary for a full-time nanny would have been 20k minimum (and would have been VERY lucky to find someone at that price), plus tax and NI is about £30k, I think? So you'd be working for £10k a year... I know some people do work for that amount, but the idea of all the stress and responsibility that goes with the sort of job that earns £40k+, sacrificing time with ds, to take home just 1/4 of your salary just seemed mad. And I couldn't have paid our London mortgage on £10k...

£200,000, £110,000(what do you guys do for a living, both of you?) most people are not earning this for real, if you are earning this then maybe you are high flyers and don't have the time to be at home, fair enough, but for middle England on £40,000 we could not afford a nanny and for this bracket I can't imagine we would as either the man or woman is at home for the children as the job has not so high demands more than a 9 to 6pm workload, or we just wouldn't want to do this, nothing wrong with this but some people can't afford this and hence have not as much responsibility in their jobs.

Sorry Leonardo, but I can't understand your message?

on £40,000 you can get time off to look after your children hence no nanny, around £110,000 a big workload not at home much will need a nanny...nomedeplume said both so I guess she is a high earner too

I guess for NdP though there is just one child needing "childcare", so the difference between a nanny and an alternative (either childminder or nursery) is quite high. For 2 or more children, then the maths is different. If I just had one child then I would only need pay out £30 a day in childcare for nursery or childminder; the jump to paying £80-90 for a nanny is then quite high.

I thought the thread was about how much you would have to earn to justify having a Nanny, not how much one earned.

For me it is more of an issue of how much dh has to earn for me to justify the cleaner, gardener and personal trainer (as well as the nanny of course). My cleaner gets the same wage as the nanny which always worries me.

nannyl - the report you read over-prices nannies. Edam - your calculations under price them. In London you need to gross about £30k to break even (or pro-rata equivalent) - don't forget you pay the nanny's gross salary out of your net. This is first-hand experience

IME - as a very rough rule of thumb - the tax and NI costs equate to around 50% of the net salary of the nanny.

Its not a perfect calculation as at lower salaries the percentage of tax is at a lower level. But as a rough guide to overall costs it works reasonably well.

Ladymuck - Dh and I pay around £15 per week for 2 3-hour nursery sessions for DD. I'm a SAHM so no need for any other care.

leonardodavinci - I earn nothing, DH is the breadwinner in the family. He works reasonable hours and is home for 6.15pm most nights. We have 3 children, 2 school aged and one pre-schooler. Wish I'd never mentioned it now.

I used refer to our household income as 'our' because in reality, it is. Dh can only go and earn that figure because I am at home to back him up.

sorry,no need for that 'used'....

Just thought I'd add... I GOT THE JOB!!

But won't be hiring a Nanny!!!! Faaaar too much money.

But I have got them into a great Nursery.... just hope we can make sure we don't need any outof hours care!

Thanks for all your input

A very Please Toothache.

Yay!!!

Well done you{grin]

Congratulations Toothy

I'm still in the wrong job looking at what Nannies earn though!!!

congratulations!

Congratulations toothache!

Thats fantastic news toothache well done!!!

Can't stop ing!! I've been wanting to start that "I've just handed in my Notice" thread for 2 yrs!!!!!