"Quitting a Big Corporation Makes Sense": Six-Figure Salaries and Overseas Travel Attract Highly Educated Workers to This Job

Nannies for Ultra-Wealthy Families Earning Six-Figure Salaries
Prestigious Degrees and Foreign Languages Required: Stringent Hiring Criteria

Nannies caring for the children of ultra-high-net-worth individuals are emerging as a new high-income profession.

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According to international media outlets such as The Economist and Financial Review on the 23rd (local time), demand is rising for nannies who look after the children of the ultra-wealthy.

Cassidy O’Hagan works for a high-net-worth family in New York, USA. She travels the world—including the Maldives, Dubai, and Europe—with her employer’s family, providing intensive care for their children. Her annual salary reaches 200,000 dollars (approximately 270 million won). Calculated by the hour, her wage is comparable to that of employees at private equity fund management firms.

The dedicated service market for the ultra-wealthy is growing rapidly. In 2007, there were only a handful of specialist agencies for such clients, but now there are estimated to be around 1,000 worldwide.

The primary reason for this expanding market is an increase in the number of ultra-high-net-worth individuals. According to Forbes, the number of global billionaires has risen from 470 in 2000 to 3,428 this year. Following the COVID-19 pandemic, increased hiring demand has also pushed nanny wages higher.

Employment conditions are also stringent. These families seek ‘elite’ nannies with degrees from prestigious universities and proficiency in several languages. Non-disclosure agreements are mandatory. Nannies must also be willing to accompany frequent travel and work extended hours.

It is common to work 12 hours or more per day, seven days a week, followed by one week off. Even outside regular working hours, nannies are expected to be on call at any time.

Despite this, many people are entering the ultra-premium childcare market because they view it as preferable to company employment. O’Hagan stated, “I worked in medical sales at a large corporation but grew weary of the low salary and constant performance competition.” There is analysis that young, highly educated individuals disillusioned with corporate life are moving into the childcare market in search of higher income.

The opportunity to accompany ultra-wealthy families on their travels and experience a life of luxury is also considered a draw. Last June, a reality TV show entitled ‘Million Dollar Nannies,’ featuring the lives of wealthy nannies, aired in the United States. The Economist noted, “Not only is the life of the rich admired, but now even the life of those employed by the rich is becoming the object of aspiration.”

This content was produced with the assistance of AI translation services.