Benefits Of Using A Nanny Share For Nyc Parents
Its no secret that we live in an area where everythings pretty pricey! And finding quality child care is certainly no exception. Most of the top-rated schools and daycares in NYC have mile-long waiting lists, not to mention sky-high tuition and entrance fees.
But what if we told you about a child care arrangement that would allow your child to enjoy quality care with more individualized attention than a daycare and at a lower cost? Were guessing youd jump at the chance! If this is what youre looking for, its time for you to consider a nanny share.
A nanny share, quite simply, is when two or more families with children share a nanny.
There are lots of different ways a nanny share can work, and the details of the arrangement are typically ironed out by the families involved. Some have the nanny watch all of the kids on a full-time basis. Others only need childcare a few days each week, so the nanny takes care of one familys kids those days and the other familys kids on the other days. So what are some of the benefits of a nanny share? Read on to find out!
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Nanny Shares Cost Less
As New Yorkers, paying less for something is generally a foreign concept. But with a nanny share in NYC, you truly can get quality child care at a lower price than employing your own nanny. How much does a nanny cost in NYC? According to Glassdoor.com, the average cost of a nanny in NYC is around $18 per hour. So does that mean that each family would pay their nanny $9 in a nanny share? While you certainly can do it this way, its best to have each family chip in a few extra dollars toward the nannys hourly rate, thereby paying the nanny a bit extra to take care of multiple children. In this type of arrangement, both families still enjoy a reduced price for child care, while the nanny enjoys a slightly higher salary.
How Do You Find A Nanny In Nyc
Find a Babysitter or Nanny Using a Nanny Board Your first option should be to go with a trusted, established nanny board. A great place to start your search is with Mommybites Nanny Board, which consists of nannies who are recommended by their former employers, or the Mommybites Emergency Sitter Board.
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What Parents Are Saying
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“Hello Sitter has changed my life. I feel like I have my freedom again. I can have a sitter come in for 2 hours, so I can run a few errands alone or take a class. This is the first time we have left our kids with anyone but family or our longtime nanny and the experience was really gratifying”
Amri
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Used this app when I had to go to an event last minute and the service was incredible!! The app is so user friendly, and I got to choose my babysitter quickly, book right through the app and she showed up 10 minutes early. The sitter was smart, friendly and really engaging!!
Katya
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“My older daughter loves having the Hello Sitters come and play with her, she looks forward to their visits like its a playdate for her. Every sitter has been so smart and capable I don’t worry while I’m out at all”
Amri
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“The app is easy to use and the sitters are amazing. My kids loved each of the sitters we’ve hired. I love that our “favorited” sitters can see our booking requests and jump in. It’s the perfect app for booking a sitter for a last minute work or social event or an impromptu date night”
Kelly
The Average Nationwide Is $1530 Per Hour But Learn What Goes Into A Nanny’s Pay Rate And How You Can Find Accurate Salaries In Your Area
Once youve made the decision to hire a nanny to care for your kids, the next step is figuring out how much you should pay them. If youve never hired a nanny before, this can feel a little overwhelming. However, well cover several topics that should help you come up with a realistic pay rate for your nanny.
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What Are These Myths
Nannies cost more – This is not true. Agencies do not charge extra as it would be against their morals. They have a placement fee only if the family decides to go ahead with their choice. Agencies usually provide well qualified nannies who have at least a 3 year contract. The nannies come with a guarantee so the placement fee is worth it.
Salaries are decided by the agency – Nannies that apply to the agency already come with a previous salary history and salary expectation. The agency has nothing to do with what the nanny charges. Therefore it is no point blaming the agency if a nanny charges really high. She has probably worked with the wealthy in NYC and is well qualified for the job. Or she just has good contacts with other nannies in your area and knows how much an average nanny in your area charges.
Agencies will try to work out a higher salary with you just so they can get a higher placement fee – The placement fee does depend on the nannies annual salary but trusted agencies will always try to find you a nanny who is well within your budget. Nanny agencies in New York City usually provide full confession on how much percentage is the placement fee and how much the nanny would charge. Ultimately it is left for the nanny to decide if she agrees to the familys offer.
Check Out The Results Of A Survey By A Neighborhood Parents Group
PARK SLOPE, BROOKLYN How much should you pay your nanny? How much paid vacation should they get? Which holidays should they get off?
Those are some of the questions that every parent likely grapples with at some point while trying to balance their work life while raising a kid .
Park Slope Parents, a group made up of mothers and fathers from Brooklyn’s stroller capital and the surrounding area, regularly takes a survey of nanny compensation and just released the 2017 version of the poll.
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Common Responsibilities Of Live
To understand if a live-in nanny is right for you, its best to start by assessing your familys needs. Live-in nannies are best suited for families that need flexible, full-time, in-home child care as live-in nannies reside with the family that they care for. A live-in nanny offers support with housekeeping, errands and other household responsibilities, similar to mothers helpers, au-pairs, and full-time nannies. However, the perk that live-in nannies offer that sets them apart from other types of nannies, is round-the-clock and emergency coverage. These instances, as well as your location and the nannys experience are some of the many factors to consider when deciding how much you should pay a live-in nanny.
Why Pay Nanny Taxes
There are important benefits to following the law. It gives your employee Social Security, Medicare and Unemployment Insurance benefits. It also allows her to build her credit. Paying legally sets you up to take advantage of tax credits for dependent care. Finally, you never know when you might get nominated for the Supreme Court. And, we all know how that ends if you havent paid your nanny taxes.
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Frequently Asked Questions About An Aupair/nanny Salaries
The average salary for an Aupair/Nanny is US$49,904 per year in New York City, NY, United States Area. Salaries estimates are based on 35 salaries submitted anonymously to Glassdoor by an Aupair/Nanny employees in New York City, NY, United States Area.
The highest salary for an Aupair/Nanny in New York City, NY, United States Area is US$69,760 per year.
The lowest salary for an Aupair/Nanny in New York City, NY, United States Area is US$35,699 per year.
Frequently Asked Questions About A Live
The average salary for a Live-In Nanny is $49,904 per year in New York City, NY Area. Salaries estimates are based on 35 salaries submitted anonymously to Glassdoor by a Live-In Nanny employees in New York City, NY Area.
The highest salary for a Live-In Nanny in New York City, NY Area is $69,760 per year.
The lowest salary for a Live-In Nanny in New York City, NY Area is $35,699 per year.
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Why I Paid $50000 For A Year Of Child Care
My husband and I looked at it as an investment in our familys future, but most parents dont have that luxury.
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This piece is part of The Price of Modern Parenting. Read about the sandwich generation, caring for aging relatives and out-of-pocket expenses for preterm births.
Every parents social media feed has a few: moms who apply the Lean In gospel to all aspects of their lives managing to look great, build an enviable career and raise smart, well-adjusted children all at once. But how do they really do it?
I cant say whether Im sparking any wardrobe envy, but I can speak to raising kids while growing the career I want, and let me tell you how I do it: with lots of money.
I earned $31,000 a year at my first job in New York City, as a cub reporter at a daily newspaper. Never in my wildest dreams did I imagine that just over 10 years later, Id pay nearly twice that annual salary for people to watch my kids while I worked.
Yes, I was earning more by the time my husband, Brad, and I became parents to two children. But my households child care bills which peaked around $50,000 annually when our 6-month-old was in a nanny share and our 3-year-old attended a local day care full time still took a huge chunk out of our budget.
Lindsay Powers new parenting book comes out on March 31.
How Much Do You Pay Your Nanny
I’m trying to compare the monthly cost of daycare in my neighborhood to a full-time nanny.
For those of you paying a nanny Monday through Friday, roughly 8-6:30pm, what is your weekly spend? Monthly spend?
I’m in Williamsburg, if that makes a difference.
From what I’ve seen from other w’burg mothers, it’s usually $15-$20 per hour plus holiday and sick pay if that helps.
There are less expensive daycares than Bright Horizons & Northside
To be honest I’m not sure is want a nanny. Hiring staff feels so alien to me. My son is just in a daycare center and starts PreK in Sept so it worked out. No idea what I’ll do with this one.
I was in Williamsburg for the first but moved into a house in Ridgewood now for my second. It’s an adjustment but it’s more affordable so it works
There’s a learning curve for sure. Some people give them a credit card to pay for classes/activities/incidentals. I live in Williamsburg/greenpoint and think it is such an awesome place to have a baby!
Thanks. I trust your experience more than mine – I’ve never had a nanny myself
$18 is the lowest most of them will accept. If they are full time it’s normal to offer a paid week vacation, paid holidays and a metrocard.
I’ve heard good things about Smarter Toddler and Bright Horizons. For some reason it scares me to trust my baby with a nanny, entering into an employer contract… plus daycare is less $$.
The Brooklyn baby Hui usually has a list of Daycares if you’re on that.
For OT we pay +$3 .
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What Does A Nanny Cost In Nyc
Youll hear stories from New Yorkers who have hired nannies where they pay for everything from cell phone bills to gym memberships.
The reality is that the cost of a nanny in NYC will be more than Witchita, Kansas, and even Boston or Chicago, but it shouldnt break the bank.
Nannies in New York City and its surrounding burrows typically earn between $17 and $25/hour. It will depend on the nannys years of experience and certifications, but some families do offer great benefits, like more vacation time and paid cell phone plans, to increase the chance of finding their dream nanny.
Learn about the average hourly rate in NYC and how different work schedules and responsibilities impact it.
How She Budgets Her Money
Johnson’s employers cover most of her basic living expenses, including rent, utilities, insurance and food when she’s working. Her typical monthly budget looks different than most 20-somethings.
Here’s what she spent in November 2020.
- Debt repayment: $4,325
- Savings: $1,925
- Food: $700
- Therapy: $400
- Beauty and clothes: $280
- Entertainment: $200
- Gifts: $150
- Rideshare services: $125
- Family support: $100
- Subscriptions: $29
One of Johnson’s biggest, and most unusual, expenses is the private chef she hires during her off weeks in Atlanta when she’s not eating with the family. Although it’s a luxury, it’s well worth it, she says, since she’s a “terrible cook” but wants to prioritize healthy eating.
“I love being able to have someone come and cook for me and prepare all of these things that I am just too exhausted to do,” she says.
On a more practical level, a good chunk of her income goes toward aggressively paying off her debt. After graduating from college, Johnson had around $25,000 in student loans. She also racked up around $13,000 in credit card debt.
But today, she has just about $15,000 total debt left. She was previously putting $4,000 into savings each month, but shifted her focus toward her debt in May after realizing that the interest her savings earned was far less than what she was losing on her debt. She had also built up a solid emergency fund and aims to keep about $10,000 in savings at any given time.
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Why Should You Choose To Go Through A Nanny Agency In New York City
They are faster. They work well if you work well with them. Let them know your exact thoughts and requirements. Agencies provide trustworthy, well qualified nannies who would fulfill your childs needs. The only problem you might go through is to choose out of the many skillful nannies.
Jerome Julian is writing about child care based on his experience with nanny agency in NYC, NJ. He recommends to check out NoWorriesNanny.
The Right Sitter Right When You Need One
Hello Sitter is the app designed to take the stress out of finding quality childcare even at short notice. Whether its a last minute meeting or a much needed date night, weve got your back. Simply enter your date and time, select the perfect sitter and relax knowing your booking is confirmed instantly. We only use trusted and experienced New York babysitters who have all been background checked and personally interviewed. Instant booking, in app payments and no minimum booking time, just complete peace of mind.
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What Other Laws Do I Need To Know About
MINIMUM WAGE
New Yorks minimum wage is $13.20 per hour.
The New York City minimum wage rate is $15 per hour.
The minimum wage rate for Long Island & Westchester is $15 per hour.
ADDITIONAL HOUR OF PAY FOR MINIMUM WAGE EMPLOYEES
For household employees who make exactly minimum wage, New York state law provides that an employer is obligated to pay for an additional hour for any day in which the employee works more than 10 hours . This includes if the employee works a split shift in the workday with nonconsecutive work hours .
OVERTIME
Household employers in New York must pay overtime at 1.5 times the regular rate of pay after 40 hours of work in a calendar week. If your employee lives in your home, you must pay your employee overtime after 44 hours of work in a week.
SALARY OR HOURLY WAGES
In New York, household employees must be paid by the hour, rather than by salary. The Poppins system ensures that all New York payroll is hourly to comply with the law.
PAYSTUBS
New York law requires employers to give employees an itemized paystub with every paycheck. With Poppins Payroll, you can have paystubs emailed directly to your employee every payday.
PAY PERIODS
Household employees must be paid weekly. All payroll through Poppins is weekly to comply with the law.
WORKERS COMPENSATION INSURANCE
MILEAGE REIMBURSEMENT
DAY OF REST
PAID DAYS OFF
TERMINATION NOTICE
Employers are also required to provide a Record of Employment to every employee who quits, is laid off, or is discharged.
So What Are My Tax Obligations As A New York Household Employer
As a household employer, you must comply with certain tax obligations, commonly referred to as the nanny taxes or household payroll taxes. Its complicated, but generally, after you have registered as an employer with all the appropriate agencies, you must:
You can find all the information about your federal obligations in the IRSs Publication 926 Household Employers Tax Guide and your New York obligations in the New York Employers Guide to Unemployment Insurance, Wage Reporting, and Withholding Tax.
The IRS estimates that it would take you 60 hours to comply with the federal nanny tax regulations. That does sound, well, taxing. Poppins can take care of all of it for $45 a month! That includes all your state and federal registrations, new hire reporting, payroll calculations and direct deposit, quarterly state and federal filings and the year-end documents for you and your employee. This first month is even FREE!
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