how much does a nanny cost?

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Does anyone know what sort of daily rate I would expect to pay for a nanny in the essex area? I understand that with a nanny I would have to pay their national insurance/pension contributions/etc? If anyone knows how this all works and what the going rate is I am keen to find out. I was looking into getting a childminder but am now wondering whether for two children a nanny might actually work out a bit cheaper.

Depends on the nanny - £6-12 gross?

How experienced / qualified do you want them to be?
Can you get childcare vouchers or tax credits which will bring down the cost of and OFSTED reg nanny?
Would you consider a nanny share or nanny with own child?
What hours do you want?

The wage isn't the only cost of a nanny. Have you factored in food, wear and tear on the house, kitty money etc?

About £8 an hour gross (ie. including employees NI and income tax but you need to add on employers NI). There are a number of companies about who will sort out the payroll and tax side for a fee (eg. nannytax, nannypaye, payefornannies). And as Frakkin says, don't forget the hidden extras, food, heating/lighting during the day, travel for nanny and children (car or bus pass etc), costs of activities.

all depends on area/age/exp of nanny

whether they are nwoc/nannyshare/ofstedreg will make adifference on what total salary/tax benifits you pay

generally i would say that a nanny is about the same price as paying 2 nursery/cm fees tho obv depends on the above factors

you could get a newly qualified/few years exp for less than a very exp nanny

what is your budget and then maybe nick could work out what you could afford gross wise (he a whizz with figures)

a nanny should make your life easier as they will come to your house and get the children up/ready/breakfast etc and all you have to do is get yourself up+ready

same for the evening, many nannies will bath (unless you want to - my mb likes bathing her 3 and chatting to them about the day) and you come home to clean/fed and ready for bed children

Mileage can certainly add up, I can do £160 a month worth quite easily. High mileage is more of a problem if you are in a rural location, as trips to say a swimming pool may be a 25 mile round trip.
Daily expenses for activities can be fairly high as well, so I feel it's best to give a nanny a weekly budget and let them manage that budget. I make my £5 a day budget go further by buying season passes where possible for places we go often - for example a local science centre. Once children are 5 it gets harder to stay in budget as the costs go up, particulary for places free for under5s. So if school aged, more activity budget may be needed during school holiday periods.

sorry for the hijack but herecomesthescience... does that £10ph gross you pay cover both children? I'm trying to weigh up our options and because I work shifts and often have to work late in the evening and dh struggles to get home before 6.30 we were thinking a nanny 3 days a week 9am-7pm might be an option, but that would be roughly £300pw, which is scaring me a bit. But it's obviously a lot better if that is our total outlay for both children.

ah thanks, that helps a lot. I guess we currently spend about £550 a month for ds to go to a childminders 2 days a week, so double that for a nanny three days a week in our own home isn't actually that bad. ds will be doing afternoon sessions at nursery school on those days, but dd will only be 9 months old by then so she'll be at home all the time.

Certainly activities at home can help keep costs down - some children don't like doing craft and craft supplies cost money. Baking is often popular, though again ingredients cost. Jumping in puddles, collecting stones and/or sticks are of course great - but it can be a long day that needs filling... if children and nanny stay home a lot they will go stir crazy.
I aim to go out every day, some days it will be to toddler group, swimming, for a walk in woodland/parkland, meeting up with other children of a similar age.
Every parent will have their own view as to what they will want their nanny doing during the day, so quite reasonable to ask nanny to stay at home a fair bit - which may suit some nannies and not others.
Every nanny will have their own ways of doing things, some will be very creative in the art dept, while others will not be good at that.
Thus finding a nanny who matches with parents expectations is a big part of the recruitment process.
I'm lucky that the parents I work for like having a nanny who goes out and about a lot.