If you’re considering whether to become a private caregiver or not, the first thing to consider is your salary. The salary for private caregivers varies widely depending upon their experience and the geographic location of their employment. Caregivers may be paid daily, weekly or monthly wages and work as part-time or full-time employees.
Caregiving is an honorable and fulfilling career. The goal of this article is to help you become a successful caregiver by providing information about the salary for private caregivers, as well as other facts that you need to know before you begin work in this field.
The job of the private caregiver is to provide care for elders that are not able to do it for themselves. This can include caring for patients with Alzheimer’s or other types of dementia, helping them with their daily activities such as dressing and bathing and even providing companionship.
Salary For Private Caregiver Overview
The salary for a private caregiver depends on a number of factors, including the caregiver’s experience level, the region in which they work and how often they are needed by their employer.
A full-time caregiver who works 40 hours per week and earns $15 an hour is likely to make about $30,000 per year. This is the most common pay rate for a private in-home caregiver. A caregiver who works 24 hours a day may earn more than this amount.
The average hourly wage for an in-home caregiver was $14.29 as of September 2016, according to the Bureau of Labor Statistics (BLS). These workers earned an average annual salary of $28,680 at that time.
In some areas of the country, it can be difficult to find experienced caregivers who are willing to work on nights and weekends when they are needed most. In these cases, it may be necessary to compensate them with higher wages or additional benefits such as health insurance coverage or gas reimbursement allowances
5 Things to Consider When Determining How Much to Pay Your Caregiver
Many seniors and their families worry about the cost associated with long-term care, even if they just need part-time help. When you’re on a budget, determining how much to pay your caregiver can be quite challenging.
On the one hand, you want to make sure that you can afford to have a quality caregiver in your life. However, you don’t want to underpay the caregiver you hire. Caregivers who don’t feel valued won’t stay around for very long.
There are quite a few factors that play into how much you should pay your caregiver. The following are five things to consider when you are determining a fair wage:
1. Where You Live
The area in which you live will play a role in what the average caregiver in your area makes. The average home health aid makes about $21 per hour. Some areas have pay rates as low as $11-13 per hour. Meanwhile, home health aides in other areas may make $30+ per hour.
Remember that rates will vary by city and the cost of living there. The higher the costs of living in your area, the more your caregiver needs to be paid to make a living. If you are not able to pay at least the average wage in your area, your chances of hiring a quality home health aide will diminish.
2. Experience
Home health aides with more experience will likely be able to request higher wages. For example, an aide with 15 years of experience will generally make more than a home health aide just starting out. Experience matters in almost every profession, and the field of home health care is no exception.
3. Certifications, Credentials, and Specializations
If your home health aid is an RN, RNA, or LPN — or has other certification and training — their hourly wages will likely be higher because of the special training they received.
If you want a home health aide with additional training, be prepared to pay more for their expertise and services.
4. Level of Care Provided
The level of care that a home health aide provides will likely determine how much they will ask for wages. A home health aide who simply helps you do some part-time household chores like running errands, washing dishes, or sweeping the floor, will likely charge less than a nurse who provides full-on palliative care.
Depending on the level of care you need, you may be paying a senior companion rather than a home health aide to help you with your daily needs. Every senior has different needs. However, most caregivers will charge hourly rates according to the care they provide you.
5. Demand Will Likely Continue to Increase Cost
As more Baby Boomers hire caregivers, the shortage of at-home caregivers that the United States is experiencing will likely continue to grow. When there is a shortage of caregivers, the ones who are working will be in higher demand and can ask for higher wages.
If there is a shortage of caregivers in your area, you may find yourself paying more for care than you would if there were more caregivers available to work.
These are five key factors that will likely influence your decision about how much to pay your caregiver. Negotiating a fair salary for your caregiver can be tricky. Still, it’s vital to ensure that you are paying your caregiver a fair wage.
personal benefits such as health insurance coverage or gas reimbursement allowances.
Elderly Caregiver’s Salary?
| Percentile | Annual Salary | Monthly Salary | Hourly Rate |
|---|---|---|---|
| 90th Percentile | $48,000 | $4,000 | $23 |
| 75th Percentile | $40,000 | $3,333 | $19 |
| Average | $33,820 | $2,818 | $16 |
| 25th Percentile | $28,000 | $2,333 | $13 |
| 10th Percentile | $23,000 | $1,917 | $11 |
