Nannies earn between $450 - $1500 per week depending on experience, education, duties and responsibilities. They may live-in or live-out. Live-out nannies earn between $12- $25 an hour.
It is required by law that you pay Social Security, Medicare and Federal unemployment taxes on all domestic employees. You may also be responsible for other state and federal taxes depending where you live. Contact your local IRS and State Department of Labor for more information. Nannies are not independent contractors and should not be expected to file as one.
Offering health insurance is one of the most important benefits you can offer to your nanny and a good way to attract the best candidates. Negotiating proper medical insurance will professionalize your position, show your appreciation, and allow you to maintain consistency for your children.
Nanny/Family Work Agreement
The work agreement is a very important tool in this industry, more so than any other profession. It helps define your job description, expectations of the nanny, household rules and regulations, benefits and incentives. This agreement is one of the keys to a successful and long-term nanny/family relationship.
Remember, nannies want the same benefits that you or I would want for ourselves. Set up your job description and benefits to accommodate your nannies needs.
Employers obviously determine what they offer a nanny. However, what you offer will determine who accepts your position.