It seems that the high salaries earned by hedge fund managers are affecting other markets beyond high priced mansions and exotic automobiles. Even nannies are benefiting from the largess of wealthy hedge fund managers and other affluent families. In this NY Times article I found out just how astronomical a nanny’s salary can be:
Then we both laughed, because there is no way I could possibly afford her. As one of New York City’s elite nannies, Muneton commanded around $180,000 a year — plus a Christmas bonus and a $3,000-a-month apartment on Central Park West. I should be her nanny.
$180,000 per year not at all bad for watching a few spoiled rich kids. Well, life as a nanny is harder than you think and if you are thinking of joining their ranks, you had better know a few things like:
And, alas, it seems that there just aren’t enough “good” nannies, always on call, to go around. Especially since a wealthy family’s demands can be pretty specific. According to Pavillion’s vice president, Seth Norman Greenberg, a nanny increases her market value if she speaks fluent French (or, increasingly, Mandarin); can cook a four-course meal (and, occasionally, macrobiotic dishes); and ride, wash and groom a horse. Greenberg has also known families to prize nannies who can steer a 32-foot boat, help manage an art collection or, in one case, drive a Zamboni to clean a private ice rink.
Speaking French, knowing how to cook a four-course meal and oh, having no life at all outside of caring for the kids. Sounds like fun. Are you ready to sign up for that?