- Base Pay (specify the salary or hourly rate and clearly specify whether it is gross or net)
- Overtime Rate
- Overnight Rate
- Travel Rate
- Benefits (such as health insurance, retirement plans, and paid time off)
- Perks & other forms of Financial Rewards
- Payday & Pay schedule
- Payment method
- Taxes / Name of payroll company
- Yearly raise or regular salary review
The compensation clause in your nanny contract should not just specify the nanny’s salary or hourly rate.
The compensation clause should be very detailed and describe ALL payment terms agreed between the parties involved in the contract.
Including all of these elements in the compensation clause of your contract ensures transparency and sets expectations regarding financial responsibilities and obligations.
