With average nanny rates ranging from $20-35 per hour in the NY and NJ area, how do you determine what to offer? What makes the difference between the low and the high end? Is it worth it to pay more when I can find someone for less? We've got you covered with these 5 areas to consider when determining how much to pay your nanny.
1. Level of Skill and Responsibility Required
If you live in New Jersey and work in the NYC, and require a nanny to have full charge care of young children from early morning to evening and expect engaging age appropriate activities, driving, meals and a second mom for your children, you will have a peace of mind with a high quality nanny who may command a higher rate.
2. Nanny Salary History
Beware if the nanny you hire is willing to take a pay cut to work for your family unless you are offering significantly more hours. It is hard for a nanny (or anyone for that matter) to go backwards in terms of pay so this may be an indication of their desire to get back to work quickly. The problem is you don't know how long they are willing to settle before finding the salary they feel they deserve. Be willing to offer at least the same or more than the nanny earned in their previous position.
3. Number of Hours Offered
Statistics show that nannies who work less hours per week are typically paid more per hour than nannies who work more hours per week. For example, if you are looking for a nanny for after school care hours you will likely need to pay $25-$35 per hour compared to a full time nanny who is earning more per week but is paid at a rate of $20-30 per hour. This is simply because part time nannies are harder to retain than full time nannies and the weekly rate needs to be worth their time to maintain a part time schedule.
4. Supply and Demand
Yes, the demand of a particular may come into play. A nanny is worth what a family is willing to pay to retain her services. Some nannies, for reasons that vary considerably, simply command a higher rate because they are in higher demand. Maybe they are educators, speak another language, have great energy, are kid magnets, they drive, are willing to do some housekeeping, etc. These nannies know their worth and are hired quickly.
5. Education and Experience
Education and Experience are traditional salary factors however degrees and years on the job don't always translate as clearly in term of nanny salaries. While those factors do matter, nanny hiring is unique and ultimately your decision will depend on who you feel the most confident will provide the type of care and help your children and family require. Some nannies come from an educational background while others are moms who have raised children and know how to manage a household.