Whether spending a night on the town with your spouse or hiring a full-time nanny, there are many factors that contribute to the cost of child care. Between base pay, experience, how many children you have… you could be paying upwards of $20.00 per hour. Here is some insight into the 7 factors that impact the cost of child care.
Child Care Provider: From babysitters to nannies or au pairs to day care, the type of child care provider you hire can greatly affect the cost. An Au Pair1 and a live-in, full-time nanny will usually get a salary, along with accommodations in your home. Day Care Centers are provided by both public and private institutions. Although the cost varies, your child can interact with other children and enjoy guided activities. Lastly, a babysitter generally works for hourly rates and is there to watch the children. There can be additional costs if extra services are requested.
Experience Level: A child care provider with a more experience (usually a bit older and mature too) will cost more. Just as those in the workforce are typically paid for more additional years of experience, an experienced babysitter will also get additional pay.
Transportation: Gas prices can be expensive on their own. If a sitter drives to and from your home or helps to bring your children to their various after-school activities and team practices, you need to compensate her for the time she travels.
Number of Children: If you have more than one child, you can expect to pay anywhere from $1-$5 more per hour for a babysitter’s service.
Certifications: Many families appreciate a babysitter who has certifications in First Aid and CPR—it gives an additional peace of mind before you leave the house. These additional certifications usually account for a $1-$2 increase in a babysitter’s pay rate. Additionally, if your child has special needs, expect to pay more for a sitter who has certification or expertise in that area.
Location: Believe it or not, if you live in the city or in an affluent area, you can expect to pay more for a babysitter. A good rule of thumb—if the cost of living is high in your area, a babysitter will expect higher wages.
Additional Services: If you need your babysitter to provide some housework, cooking, cleaning, tutoring, pet care or anything thing else that your family needs, you should pay her accordingly for the services provided.
Unfortunately, there is not one magic number for the cost of child care. Depending on the service your family needs, you could be paying more than you expect. Here’s 8 Ways to Save on the Costs of Child Care without short-changing the safety of your child.
See Also:
- How Much Does It Really Cost to Raise a Child?
- Tax Deductions for New Parents
- Does It Pay to Work When Paying For Child Care?
1An au pair is a domestic assistant from a foreign country working for, and living as part of, a host family in exchange for room and board.
