How much does a nanny cost?

[czeu]

Is £500 a week (net) for a full-time (8am-6pm) live-out nanny for one baby still the going rate?

I live in London if that makes any difference.

Thanks!

That sounds like a perfectly possible rate. However, it's better to agree her gross salary so you don't have to foot the bill for her student loan or pay higher tax if she's got income from elsewhere etc.

Agree a gross wage
Also you need to factor in your employer insurance and the fact you need to pay a pension now by law

We pay £12 per hour gross. Agree factor in insurance and pension cost. And a fund for emergency care should your nanny be sick.

Sorry £12 net not gross.

Ok thanks everyone!

I'm trying to see if it makes sense me going back to work. Nursery's in my area charge around £1800 a month so I think what's a few hundred more for 1:1 care!

I'm just trying to do the sums in my head... a gross wage would be something like £32-35k a year. Does that sound right?

That's £10 per hour net which is bottom of the rates for london. Assume you mean ten hours per day five days per week. You may find you keep losing nannies to jobs which pay more.

I have friends in London who share a nanny (live out) with an NCT friend a couple of roads over - together they pay around £40k gross. Sharing may be an option perhaps? I know it works for them as if they have late running meetings etc they'll then pay an extra hourly rate. The nanny kindly stocks their freezer with home cooked toddler meals and occasionally has dinner waiting for the parents when they get home from work (bliss!)

I ended up looking at KiwiOz nannies and Abbeville Nannies. Both suggest £35k pa for live-out sole charge of 1 baby.

I could get back in to my profession on roughly £50k which after I pay tax and then pay a gross wage to the nanny it wouldn't make much sense. I know DH and my combined salary is quite a lot (as he makes way more than me) but for some reason I'd still think "all my money is going on childcare". Might as well be a SAHM

But thank you @LastNightsMakeUp a nanny share might make more sense! Will look in to it