The cost of working: Nanny versus day care

When I got pregnant with my second child, most people assumed I would switch from a daycare situation to a nanny, given that I still have two and a half years to go before public pre-K kicks in (that is, if we get lucky to get a lotteried spot in our very kid-crowded Brooklyn neighborhood). Two kids, one nanny, it's got to be cheaper, right?

Not so, actually, although having two in daycare is no bargain either.

The moms I talked to this weekend, who are not living in New York, found this hard to believe. But even at the lowest going rate for a nanny -- $10 an hour in New York, which is nearly impossible to find for two kids -- the double daycare bill still beat the price tag for 50 hours a week, especially since we get a little break for having two in at once.