consultantjournal wrote:
rhino wrote:
or, how about this. Instead of picking a few select craiglist post we goto the US Department of Labor.
Far more accurate I would think.... the Government agency that is responsible for collecting and compiling this type data should have reasonable information on this subject, yes?
http://www.bls.gov/oco/ocos170.htm#earningsThe BLS report states that many workers are part-time. And the report you provided indicates that qualifications vary widely. You've picked a category that includes daycare assistants, babysitters, etc, not just nannies. And it also includes part-time workers. I didn't see a citation on the BLS site, but the Canadian labour data I pulled up says 55% of child care workers work part-time. (I work as a consultant in the careers sector, so I spend a lot of time with this kind of data.)
As I stated, we're talking about someone working extended hours, having a college degree and so on, not your generic $6 an hour childcare worker who sits kids in front of a TV. The data needs to be prorated for extended hours and then modified for someone with highly desirable skills and experience. The idea is how much it would cost to replace the stay at home mom, not how much it would cost to have a babysitter who has no education, barely speaks English and so on.
Child care and home making isn't a "highly desirable skill".
If it was, you would see Nannies driving around in BMWs and living in 6 bedroom houses.
They are paid low for a reason.
Secondly, it doesn't require a college education and doesn't require much special skill or training.
The experience required can be had for cheap/free.
For 'extended' hours, nothing says you couldn't just hire two nannys.
Thirdly, I know of no divorced [or "widowed"] man (that has custody) that goes out and spends $80,000 a year on a nanny. Most will opt of day care or rely on family members to help out.
Lastly, your saying a wife is worth $80K/year. That is funny, because that is WAY more then the median income:
http://en.wikipedia.org/wiki/Household_ ... ted_StatesIf that was true, then it would be in the best economic interest of a "average" household to have the man stay home and watch the kids and have the wife go be a nanny at $80K a year. That would almost DOUBLE their income and standard of living!
But they don't?
Why?
Because very few people will pay $80K a year on a nanny (even if they are in the top 1% of income earns).
Something is only worth what another person is willing to pay.
Just because someone has a PHD is Physics doesn't mean I'll pay him $175K a year to take care of my lawn.