How Much Does a Nanny Cost? What High-Net-Worth Families Pay for Childcare and School

What High-Net-Worth Families Spend on Childcare and Education

Most nanny cost guides quote an hourly rate by state. That's the right number for setting pay, but it doesn't answer the question most parents with a demanding career are weighing: what does a nanny cost over a year, and how does it compare with the other ways to pay for raising children?

Long Angle's 2026 High-Net-Worth Income and Spending Report asked Long Angle members to report what their household spent over the past 12 months, category by category. Among the families paying for each item, here's the median annual cost.

Source: Long Angle 2026 High-Net-Worth Income and Spending Report, 146 respondents, fielded September to October 2026. Medians among households spending on each item, covering all children in the household. Each median is calculated separately, so items don't add to the total. Respondents are Long Angle members and aren't a representative sample of high-net-worth households.

A nanny is the single largest childcare cost families in the study report, ahead of private school and college. Smaller items, from lessons to summer camps, run in the low thousands.

How Much Does a Full-Time Nanny Cost?

Among high-net-worth families who employ one, the median nanny costs $60,000 a year. The report describes this as a full-time nanny and calls it the greatest child expense in the study.

Three things to know about that figure:

• It covers all the children in the household, so a family with three children reports one figure.
• It's what families reported spending over the trailing 12 months. The study doesn't say whether employer payroll taxes or benefits are included, so treat it as the family's total outlay as they reported it.
• It's a median among families who use a nanny, so half paid less and half paid more. The report doesn't break the figure down by city or by number of children.

If you're setting an hourly rate, local surveys and payroll firms are the better source. If you're deciding whether a nanny fits your budget, the annual figure is the one to plan around.

Nanny vs Daycare: The Cost Difference

The gap between the two is wide. Among families paying for each, the median nanny costs more than three times what daycare or preschool does.

Source: Long Angle 2026 High-Net-Worth Income and Spending Report, 146 respondents, fielded September to October 2026. Medians among households spending on each. The comparison is our arithmetic on the two medians. Respondents are Long Angle members and aren't a representative sample of high-net-worth households.

The cost gap is only part of the decision. Both figures are household totals across all children, so the gap holds for families with one child or several. Flexibility around two demanding careers and travel weigh in too. The study doesn't record why families chose one over the other, so it can't say which reasons drive the choice.

How Much Does Private School Cost Compared With College?

Private school and college cost about the same for families in the study: a median of $44,000 a year for private school and $41,000 for college, again among families paying for each and across all children.

The report reads the college figure as what families pay after scholarships, in-state tuition, and similar reductions. It also counts any tuition-paying higher education as college.

For families who use private school from kindergarten, that's often 13 years of tuition before college begins, which is why the education line can outlast the nanny years by a decade or more.

Where Childcare Sits in the Household Budget

Among high-net-worth families with children, childcare and education is the second-largest spending category, at 16% of total expenses on average. Only the primary residence takes more, at 19%.

Source: Long Angle 2026 High-Net-Worth Income and Spending Report, 146 respondents, fielded September to October 2026. Average share of total expenses among households with children. Excludes mortgage principal, which the study counts as savings. Respondents are Long Angle members and aren't a representative sample of high-net-worth households.

Housing, children, and vacations together make up about half of the budget for these families. Food, healthcare, and transportation come to under 20%.

Saving for College While Paying for Childcare

Many families fund college savings at the same time they're paying for a nanny or school. Among working households in the study that contribute to a 529 plan or UTMA account, the median contribution is $11,000 a year. Early-retired households that contribute put in more, a median of $19,000.

Source: Long Angle 2026 High-Net-Worth Income and Spending Report, 146 respondents, fielded September to October 2026. Medians among households contributing. Early-retired households may include semi-retired households or a spouse still working. Respondents are Long Angle members and aren't a representative sample of high-net-worth households.

For how families choose among 529 plan portfolios, see our guide to 529 investment options and strategies. If college savings are part of a wider estate plan, using a 529 plan for estate planning covers front-loading contributions and keeping control of the account.

Comparing Notes With Other Parents

The questions that follow a childcare decision are rarely about the number alone. Who have you used, would you do it again, how did you structure the nanny's pay and taxes, and when did private school stop making sense? Those are the conversations Long Angle members have with one another, without anyone selling a service.

Long Angle is a free, vetted community of founders, executives, and investors. Members who want a standing group can join a Trusted Circle: six to eight peers at a similar stage who meet monthly for three hours on Zoom with a professional moderator. Trusted Circles is a separate $4,500 a year.