How Much Should You Give Your Nanny for a Raise After One Year?
A common question parents ask us is “How much should I give my nanny for a raise after one year?” While there is no straightforward answer to this question, there are a number of factors that should guide you on how much to add to the current salary that you are giving your nanny.
The Average Raise for a Nanny After 1 Year is 3-10%
The nanny profession is very demanding. Not only do you care for children but you also get to cook and do light house cleaning tasks.
A nanny also gets to work long hours thereby getting emotionally and physically drained. Fortunately, for the nanny who bonds with her charge, the job can be very rewarding.
The average raise for a nanny’s pay after one year is 3-10%. You can offer a raise to your nanny for a job well done.
Besides pegging it on performance, you can also consider the cost of living as well as how long the nanny has worked for you. This also does not stop you from giving some bonuses, especially during the holidays and special occasions.
The best nannies derive so much satisfaction in their work despite the modest pay. They enjoy watching the kids grow while also forming lasting relationships with the families they work for.
Cost of Living Increases
As mentioned earlier, consider the cost of living in your area as you look into raising your nanny’s pay. Looking at the current cost of health insurance, car insurance, and other expenses can help you see how the cost of living has risen.
If this cost of living has gone high up, it is only fair that you also raise your nanny’s salary. If unsure about the current cost of living, contact your local Chamber of Commerce or do a quick online search.
How Much Do Most Nannies Get Paid?
In the United States, nannies earn an hourly wage of between $12 and $25. The median hourly wage for nannies is $18.75, which works out to an annual salary of just over $39,000.
Of course, as mentioned earlier in this post, wages can vary depending on a number of factors, including the nanny’s experience, education, location, and the number of children she is caring for.
In general, most nannies can expect to earn a competitive wage. The beauty of this profession is that one can be able to set their own hours thus enjoying great flexibility. This is great for family-work balance.
Again, with a nanny at the house, most parents get peace of mind knowing that their children are in good hands, and are being cared for by a responsible and capable nanny. This peace is worth every penny.
Inflation
Besides the high cost of living, another sneaky factor you should put into account with regard to salary increments for your nanny is inflation.
Inflation can be defined as the general increase in prices as well as the fall in the purchasing power of money.
Although the rate of inflation varies from time to time, it is, on average, around 2-3% from year to year. Factor this inflation into account when giving your nanny a raise so that they can also be able to keep up with the rising costs of living.
Factors That Can Affect The Raise
Several factors can affect a nanny’s annual rise even after they have worked in a family for a while.
To start with is the number of hours worked. A nanny who takes up additional responsibilities or has increased their hours of work deserves a raise.
Again, a nanny’s performance on the job can affect their annual raise. If the family they work for is happy with their work, they are most likely to offer a raise.
Finally, the cost of living within the area where the nanny works can also affect their annual raise. In order to maintain their standard of living to match the rising cost of living, the nanny may require a raise.
The bottom line, however, is that it is up to the family to decide if the nanny deserves a raise after one year, and by how much.
Performance Reviews
As a family who has hired a nanny, you should carry out a performance review.
- How well has the nanny performed over the year based on your performance criteria?
- Have they done an outstanding job?
- Have they gone above and beyond to deliver?
- What is the working relationship between you and the nanny like?
If they grade well against this checklist, a larger raise is well deserved.
On the other hand, if they have performed below expectation, or have made some mistakes along the way, they may only deserve a smaller raise, sometimes even no raise at all.
Have a sit down with your nanny to discuss their performance so that you can both agree on whether a raise is warranted, and by how much.
Some Ways to Negotiate a Higher Salary
It is not uncommon for nannies to receive a salary increase after their first year on the job. This depends on the many factors discussed in this post including inflation and the nanny’s increasing experience and responsibilities.
If you are a nanny looking for an increase in your salary, here are a few things you can do to be able to negotiate a better rate.
To start with, compile a list of your accomplishments over the past year. Include items like successful potty training of the family’s toddler and taking care of a newborn around the clock, among other accomplishments.
Again, do a deep dive to research what other nannies within your area are getting paid. This allows you to get an idea of what a fair rate looks like based on your location and level of experience.
Finally, schedule a meeting with your boss to discuss your salary expectations. Be well-armed with the right knowledge so that you are well-prepared for what to expect. With these tips, you will be in a good position to negotiate a higher salary.
Tips for Successfully Negotiating a Raise with Your Current Employer
After working hard for a whole year for your client, it’s time to place your salary increment request. How do you ensure that you successfully negotiate a raise? Here are a few tips to help you successfully negotiate a pay increase:
- Research: Go out of your way to find out what other nannies receive as payment within your location.
- Discuss your accomplishments: What you have done to deserve a raise? Be ready to share examples of how you have gone above and beyond your job duties with your boss.
- Be reasonable: Don’t be greedy. Do not ask for more than you deserve. This can be a turnoff to your employer. Instead, focus on why you deserve a raise and present a fair figure that reflects your value.
- Accept compromise: Sometimes, your employer may, for valid reasons, be unable to meet your salary raise request. Be flexible enough to understand their situation as you negotiate.
The above tips will get you ready to negotiate for a raise successfully. Be sure to act respectfully and do your due diligence.
Unhappy with your current salary? It is time to move!
If you’re not satisfied with your pay, consider switching jobs. This is particularly true if your current boss is unwilling to give you a raise. Go where you are paid what you are worth.
Conclusion:
All said a wise employer should offer an annual raise even without waiting for the nanny to ask for it. By examining their performance over the year, you can easily tell if they deserve a raise or not.
Similarly, a wise nanny should respectfully request for a raise if they believe they have earned it over the year. Approach your employer and outline your achievements with them then request to have a raise.
