What is a nanny share? In a typical nanny share, two or more families employ one nanny, sharing the cost of their salary. Most nannies working in a share watch all the children together at once, and alternate between houses, but many families work together to come up with a schedule tailored to their specific needs.
In a nanny share, one person establishes the legal and accounting groundwork to hire a nanny and then shares the nanny’s services with other parents. Hiring a nanny is very different than hiring a babysitter and if you are considering this model there are many legal considerations.
The basic formula for calculating a nanny share is to take the nanny’s typical hourly rate, and have both families pay 2/3rds. For example, if a nanny is making $16/hour, each family would pay about $10/hour, leaving the nanny with a $20/hour position.
The average cost of a sole care nanny in London is around £14-16 per hour. That figure is made up of £10 net per hour for the nanny, plus £4-6 per hour in income tax, employee national insurance, and employer national insurance.
How much should I pay a nanny per hour?
Average Nanny Pay Rates
The national average hourly rate for a nanny is $19.14 per hour. The national average gross weekly salary for full-time live-out nannies is $766. The national average gross weekly salary for full-time live-in nannies is $670.
In a nanny share, both families are considered employers by the IRS. That means both families must obtain federal employer identification numbers (EIN) and register with the state. Each family pays Social Security and Medicare (FICA) taxes as well as federal and state unemployment taxes.
Do you need a license to be a nanny?
In the U.S., there is no license or certification required to become a nanny, but there are a number of important skills the person who’s caring for your children should have to ensure your children are safe and well cared for.
Can a nanny work for 3 families?
A nanny can only care for children from two families at the same time. This includes her own children. A nanny cannot work for 3 families, or 2 families while bringing her own baby with her. There are no restrictions to the number of children.
Are nannies more expensive than daycare?
Cost. Nannies usually cost significantly more than daycare centers. Nanny costs vary depending on location, the number of kids, and other factors. If you want a nanny, but cannot afford an individual nanny, think about a nanny share where two or more children share one nanny.
How to Get Started:
- Step 1: Preparation. Can you afford the cost? …
- Step 2: Find a Family. Find a family with similar parenting styles – local parenting groups often will be a good place to start looking. …
- Step 3: Write Up and Establish Guidelines. …
- Step 4: Finances and Benefits. …
- Step 5: Find a Nanny. …
- Step 6: Nurture!
How do I become a nanny with no experience?
Follow these seven steps to start babysitting with no experience:
- Learn the basics of caring for a child.
- Volunteer to care for children you know.
- Start working with kids in a group.
- Build up a resume.
- Advertise yourself.
- Get interviews with parents.
- Expand your network as you gain experience to get more work!.
Can you nanny for more than one family?
A nanny share is when two families share a nanny. They employ a nanny either full-time or part-time, and split the cost. The nanny works for both families taking care of their kids, and generally alternates between the two houses to care for the kids and the household.
Find a share family.
Nanny Lane, part of the Care.com suite of caregiver websites, provides a forum for families looking to enter a nanny share to find one another. (They also list nannies looking for a share.)