dilemma- advice appreciated

[chicagoliz]

Originally Posted by vtecluder617

I confirmed with my wife this weekend (because it was a co-worker of hers who was inquiring) but it was actually $3000 a month for the Bright Horizons in Kendal, and that quote was given to her in 2013 My mortgage isn't even that high!

This is still amazing to me. You have to have at least a decent-paying job to even net $3K a month, so I can't imagine having the entire paycheck going to daycare. And I know they give some sibling discounts, but even so, I don't know how anyone has 2 or even 3 kids in care! (I knew a family that had 3 kids at Bright Horizons for one or two years, and it was about that much for all three kids -- I was amazed then. But at this price, I don't know how people do it.)

[Dm84]

Originally Posted by chicagoliz

This is still amazing to me. You have to have at least a decent-paying job to even net $3K a month, so I can't imagine having the entire paycheck going to daycare. And I know they give some sibling discounts, but even so, I don't know how anyone has 2 or even 3 kids in care! (I knew a family that had 3 kids at Bright Horizons for one or two years, and it was about that much for all three kids -- I was amazed then. But at this price, I don't know how people do it.)

Supply and demand. The only people who can afford that are people pulling in at least $500k/year and those few are competing for the few available spots.

[Parsec]

Originally Posted by Dm84

Supply and demand. The only people who can afford that are people pulling in at least $500k/year and those few are competing for the few available spots.

I was about to refute that, but then I realized you meant household income. 3 kids at Bright Horizons is around $100k/year, or about $170k pre-tax. BOTH parents would need to be earning at least $200k, but most likely $250k to make it worthwhile. Most families can afford daycare for 1 child, but 2 is pushing it for most because it means both parents are earning 6 figures each. 3 kids in daycare is just insane.

[Dm84]

Originally Posted by Parsec

I was about to refute that, but then I realized you meant household income. 3 kids at Bright Horizons is around $100k/year, or about $170k pre-tax. BOTH parents would need to be earning at least $200k, but most likely $250k to make it worthwhile. Most families can afford daycare for 1 child, but 2 is pushing it for most because it means both parents are earning 6 figures each. 3 kids in daycare is just insane.

Again, there are daycares that are less than $20k/year per child, but you won't find them in Kendall Square or anyplace else someone can charge $2k/month or more and get away with it.

[chicagoliz]

Originally Posted by Parsec

I was about to refute that, but then I realized you meant household income. 3 kids at Bright Horizons is around $100k/year, or about $170k pre-tax. BOTH parents would need to be earning at least $200k, but most likely $250k to make it worthwhile. Most families can afford daycare for 1 child, but 2 is pushing it for most because it means both parents are earning 6 figures each. 3 kids in daycare is just insane.

It seems that most people who need that end up going the nanny or au pair route.

[00na]

One of the reasons childcare is so expensive in Massachusetts is because the state has the toughest licensing standards of any state (lowest child to caretaker ratio). Real estate costs factor into it also. Leasing a space in Kendall Square is going to be much more expensive than other areas.