Childcare Benefits from Investment Banks?

[BoingBoing]

I'm considering going back to work full time in an investment bank and wondered if anyone knows what benefits any of them provide in terms of childcare assistance (if any!)?
I need to go back to work as I'm sick of being broke and I'll go nuts if I don't get back into a professional office environment soon, but I don't want my entire income to be swallowed up on CMs or a nanny. It's been about 5 years since I last worked in the City so I'm not very clued up. DS is 18 months and I don't particularly want to send him to a nursery.

As far as I know it's just the usual childcare voucher schemes

Some investment banks will give a certain number of days at an emergency care nursery. I know that Barclays at Canary Wharf gives 20 days at the emergency nursery close to it to each employee with children under a certain age. On the whole though you just have to hope for a high enough salary to cover your costs with some left over or accept that you will be working for very little profit until your child goes to school.

There was a supplement in the times last week with best places for women to work - might be worth hunting down
Dunno if any banks featured

Merrill Lynch have vouchers and a helpline to assist with emergency childcare.

What sort of benefit are you looking for?

Anything that reduces the amount I have to fork out, LadyM! That and to be able to pre-empt the inevitable argument with OH about my returning to work if there's no tangible profit in it.

I've just been looking at the vouchers scheme on another site as well which I think says that up to £50 per week is basically taken out of gross rather than net income. Is that correct? Or does my generous employer actually give me that £50? Errm, confused I think!

Childcare vouchers let you pay for up to £200 per month of your childcare pre-tax. It's essentially worthless. Well, if you're an upper-rate taxpayer, you save a bit. Oh, and you can pay for childcare from both you and your DP's salary, I believe, so it saves a bit more.

I'd think almost any job in an investment bank pays enough to cover childcare and more. Particularly if you're considering a childminder.

Childcare vouchers are taken out of gross salary - up to £55 per week which saves you about £600 a year on basic rate tax or £1,000 if you're on the higher rate. And the figures double if both parents get them... Not seen as worthless in my household!

Thanks, that's really helpful. My DH is a tax expert (yes, I know...) and so when I tell him a CM costs £5 ph, for example, he'll insist on grossing it up to tell me how much I need to be earning to cover it, but at least I can now tell him it's at least partially tax exempt. God it's hard work having to put together a case for your own husband!

Tell him that he should be covering 1/2 the cost!

ime, childcare vouchers and emergency childcare provision are standard benefits.

Yes, I get emergency childcare which is worthless because it starts at 8am and I need to be at work by 7am.

Also childcare vouchers are available but I think when I looked into it you can only get them if your joint salary is less then £75000 which may not be the case if your dh is a tax expert and you are an investment banker.

Um, there is no limit on nursery vouchers. There are limits on various other schemes to help parents pay for childcare.

childcare vouchers have no upper limit - anyone making any salary can use them if their employer offers them

Blonde - I would love to remind him that he's to stump up for half the costs, but unfortunately the whole situation is far far more complicated than me sitting down as wifey and saying 'darling, please may I take off my pinny and go back to work?!' Would it were that simple, I would hardly even bother discussing it!
And sadly I'm not actually an investment banker, so I won't get those megabucks, although it is one of the best places for pay in my field (research).
But this is all great, helpful stuff, so thanks a million.