Child care isn't cheap, but many working parents have no choice but to hire help to look after their kids. In 2010, the average annual cost of full-time child care for an infant in a center ranged from $4,650 in Mississippi to more than $18,200 in the District of Columbia according to the National Association of Child Care Resource and Referral Agencies. If you think that sounds expensive, you won't be pleased to learn the going rate for a nanny is even higher.
Live-in vs Live-out
A full-time live-out nanny would have typically set parents back $705 a week in 2011, according to the 2012 International Nanny Association Salary and Benefits Survey. Those who wanted a nanny to live with them would have been looking at $652 a week at the same time, while the national average for babysitting services was $16 per hour.
By Geographical Area
Parents living in San Francisco, California had to spend an average of $950 on their nannies in 2011, according to INA data. Nannies based in Washington, D.C. and New York City could command $833 and $831 respectively at the same time, while those working in Hartford, Connecticut and Jefferson City, Missouri took home $583 and $556 respectively before taxes and other deductions.
As with most careers, the more experience a nanny has, the more he can expect to earn. The 2012 INA Salary and Benefits Survey showed full-time nannies with less than one year of experience earned an average of $521 gross per week in 2011. This rose to $626 gross per week for nannies with four to five years of experience. Nannies with 20 plus years of on-the-job experience earned an average weekly gross wage of $734.
Education pays when it comes to being a nanny. Full-time nannies with two years of college experience earned an average of $611 gross per week in 2011, according to the 2012 INA poll. Those with a bachelor’s degree did marginally better with a gross weekly salary of $633, while nannies with a master’s degree earned an average of $725 gross per week.
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