Not all Nannies are “Six Figure Nannies”
A common misconception is that hiring a nanny is an expensive proposition and only “the rich” can afford this option. And recent news reports are contributing to this myth, as they spotlight “six-figure” nannies who are earning more than $100,000 per year.
The truth is that most nannies don’t receive such high salaries and are actually an affordable, convenient option for many families. In fact, hiring a nanny is often more affordable than other childcare options, including daycare.
Nannies’ salaries depend on a variety of factors, including:
- Their experience
- Your geographic location (nannies in big cities often earn more than nannies in smaller towns)
- The number of children they’re watching
- The ages of the children
- Their duties and responsibilities
- The number of hours they’re working
Some families pay their nannies benefits, including health care and paid holidays, which add value to their base salaries. Live-in nannies also receive free room and board. But many families do not include these benefits, reducing their overall cost.
While some people still envision nannies as tending only to wealthy families, hiring a nanny is a viable, convenient option for many families - across all tax brackets. In recent years, a significant number of parents have learned - firsthand - about the benefits of hiring a nanny, including the convenience of having someone come to your home vs. bringing your children to daycare, the ability to ask your nanny to start dinner or help with housework, etc.
Hiring a nanny is affordable, yet the benefits are priceless…
What do you think? Are nannies affordable? We welcome your thoughts!