Here Comes the British Nannies

Step aside Filipina domestic helpers, here comes the British Nannies.

This looks like a reversal of roles, as emerging market elites have commenced on hiring Western household help.

From the Business Insider,

Lucky London nannies are earning insanely high salaries thanks to an influx of wealthy Russians, Chinese and Indians, who want their children to learn English from a native, according to The Times of London.

The starting pay at the elite agency Imperial Nannies is $75,000, typically including room and board in an upscale neighborhood and extraordinary perks like a car, clothes and luxury travel. One Russian family reportedly offered $200,000 to lock down a top nanny.

Of course the work isn't easy. Founder Sarajane Ambrose tells The Times:

“You’re walking into a completely different culture and environment of extraordinary wealth and different family values. Russian families require you to be on call 24 hours a day, 6 days a week. The children are always accompanied by bodyguards. There are cameras everywhere. They have a jet-setting lifestyle, which means you spend a lot of time packing and unpacking. They’re very ambitious for their children and because they dress them in designer clothes, they’re not allowed to get dirty. Russian children don’t wear Gap.”

The above dynamic has been symptomatic of what has been happening in the world today.

Yet this trend could intensify or deepen, if the West-East wealth transfer or wealth convergence persists, which will be magnified by sustained policies of inflationism by the sitting authorities of western nations.