What Is the Current Pay Rate for Nannies?
According to the International Nanny Association, nannies are employed by families to come into their homes and undertake all tasks related to the care of their children. For parents who have hectic work schedules or multiple children, a nanny can offer the most flexibility, as well as provide individualized, personalized childcare.
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Types
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Nannies may be employed part-time or full-time. They may also be employed on a live-in or live-out basis. On average, most nannies work a 50-hour work week, although sometimes part-time nannies are hired. Some families even have a nanny share where they share the services and cost of the nanny between them. On average, live-out nannies make $100 to $200 more per week than live-in nannies. In 2007, the national average salaries for nannies were as follows: full time, live-in nanny ($325 to $800 or more per week); full time, live-out nanny ($8 to $20 or more per hour) and part-time nanny ($12 to $25) and more per hour. See the Resources section for a link.
Geography
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Where a nanny lives can make a huge difference in how much she is paid. Nannies who work in affluent areas like Fairfield, Connecticut, Newton, Massachusetts and Westchester, New York are paid higher salaries. In general, nannies who work in Connecticut, the Washinton, D.C. metropolitan area, Massachusetts and New York earn the highest salaries. Nannies who work in rural areas or in struggling communities may earn significantly less. See the Resources section for a link.
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Expert Insight
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The more education and experience a nanny has the more money she can demand. Some nannies who work for wealthy families or celebrities can earn in excess of $60,000 per year. If you want to hire a nanny with lots of experience and education, but can't afford the price tag, potential employers can often offset a low salary by offering other benefits. These can include health insurance, gym membership, tickets to a sports event or concert, use of a car, educational allowance or any other desirable bonus that may attract a quality nanny.
Misconceptions
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While many nanny employers believe that their nanny can be paid as an independent contractor, this is not true. Nannies are household employees and must be issued a W-2 form at the end of the year. Nanny employers must contact the IRS and apply for an employee identification number. Nanny employers are also responsible for withholding appropriate taxes. See the Resources section for a link.
Warning
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Although it may be tempting to pay a nanny off the books, failure to withhold taxes can result is significant penalties. If you get caught not paying your nanny legally, you may be responsible for paying back taxes, interest and fines.
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