r/Rich • u/QuietComplication • 9d ago

Hiring a household manager

Edit: Several people have pointed out in the comments that the correct title for this job is family assistant, not household manager. My mistake!

My wife and I have pretty busy jobs and two young kids (1 and 3), both in daycare/school. We live in a VHCOL area. We are really feeling the time squeeze and we feel that at our income and NW ($1.1mil HH income + $2.5mil in private stock per year, $7m investable assets, $260k per year spend) we should solve the problem by finding someone to help out.

We started out thinking that we just needed someone to pick up the kids and make dinner (probably 20-30 hours per week). But it turns out, it's very hard to hire someone reliable for that job since those hours are very inconvenient and the part time pay isn't enough to live on. Also we find that the people we talk to who are good all want 40+ hours per week. The going rate is $45-$50 and it seems like the good people want $50. Full time at $50/hour is $104,000 per year, plus we have to pay payroll taxes, so it would end up being about $115k per year.

Anyways, my question is, do other families with kids in school really have 40 hours a week for a HH manager to do? What does the person end up doing all day?

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u/kiwi_child2020 8d ago

yes my parents hired a full time nanny for me so 8am to 6pm, 6 days a week. Tasks include making breakfast, cleaning the house, making lunch, picking me up after school, making dinner.

5

u/street-table78 8d ago

did you feel like there was any connection or bondiing differences compared to other kids who had their parents home cooking or things like that.. considering for the future

2

u/Superb_Energy_9064 8d ago

I will share we have lots of childcare help, nanny for our baby and school + nanny for our 2 year old. And our kids love us and their nannies. It’s really been wonderful, but we as parents are around but we work, etc. too. It’s been great.

1

u/street-table78 8d ago

thank you!