The Investment Whisperer
  • Business
  • Politics
  • Investing
  • World
  • Business
  • Politics
  • Investing
  • World

The Investment Whisperer

Business

Palm Beach housekeepers are making $150,000 a year due to massive demand from the wealthy

by admin May 25, 2024
May 25, 2024
Palm Beach housekeepers are making $150,000 a year due to massive demand from the wealthy

A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high net worth investor and consumer. Sign up to receive future editions, straight to your inbox.

Housekeepers in Palm Beach and South Florida are cleaning up, with salaries often topping $150,000 and bidding wars between mansion owners becoming common, according to staffing companies.

The mass wealth migration to Florida from New York and other high-tax states has created record demand for household staff in elite Florida enclaves — especially Palm Beach. Demand for butlers (now called “hospitality managers” or “estate managers”) as well as nannies, chefs, drivers and personal security has surged, according to staffing agencies.

It’s the shortage of housekeepers, however, that has created the biggest mess for wealthy homeowners. Many of the wealthy emigres to Florida bought big homes and now need people to clean them. Hotels, resorts and businesses are also vying for cleaning staff. The result: Typical pay for housekeepers has rocketed from about $25 an hour in 2020 to $45 or $50 an hour today, according to some agencies.

“I have been placing staff for 30 years, and I’ve never seen anything like this,” said April Berube, founder of The Wellington Agency, which places household staff in Palm Beach, Miami, New York and other locations. “We’ve seen such a boom from people relocating, especially Palm Beach and Miami.”

In Palm Beach, housekeepers with experience in wealthy homes are typically making between $120,000 and $150,000 a year, along with 401(k) plans, health care and benefits, including overtime.

“For housekeepers it’s wonderful,” Berube said. “For us it’s extremely difficult. It’s a severe shortage.”

Melissa Psitos, founder of Lily Pond Services, said she recently had a Florida client hoping to hire a housekeeper for $75,000 a year. They ended up paying $110,000, which was reasonable for the market. Executive housekeepers, who often help direct a staff of other housekeepers and laundresses, can make even more. Psitos said she knows one head housekeeper in Palm Beach who makes $250,000 a year, including overtime, and travels with the family to their various homes.

“There is just not enough supply,” she said.

Bidding wars between wealthy homeowners have become common. Staffing agencies are posting “Help Wanted” ads all over the web and throughout West Palm Beach. Clients are growing frustrated.

“At first they’re in shock, and they say, ‘No way I’m paying that,’” Berube said. “It’s even uncomfortable for me to give them the numbers. But when they try to hire someone for less, with less experience, they almost always come back to us and say, ‘I learned my lesson. We are willing to pay for the experience.’”

Berube said the housekeepers for the wealthy need highly specific skills — from how to move quietly and unnoticed throughout the house, to how to carefully clean antiques, flatware and fine art and how to properly wash and press fine linens.

“There are specific tools and skills you need to work in fine homes,” she said.

Berube said with so few qualified candidates, she’s thinking of launching a school to teach high-end housekeeping skills and generate more housekeepers.

“I would love to do it, but I don’t have the time, since we’re busy trying to find staff.”

Sign up to receive future editions of CNBC’s Inside Wealth newsletter with Robert Frank.

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
Target, McDonald’s and others are offering value as they lose ground with bargain hunters
next post
‘It is time to break up Live Nation’: DOJ sues Ticketmaster parent over alleged monopoly

Related Posts

Macy’s to cut more than 2,300 jobs and...

January 23, 2024

European Union slashes planned tariffs on China-made Tesla...

August 22, 2024

It wasn’t the endless shrimp that pinched Red...

May 27, 2024

Google loses antitrust case over search

August 7, 2024

Stellantis laying off 2,450 plant workers due to...

August 11, 2024

Fewer homeowners are remodeling, but demand is still...

May 15, 2024

Chrysler and Dodge parent recalling 318,000 vehicles over...

March 27, 2024

Why the ‘wealth transfer’ from boomers to their...

December 30, 2023

Target launches paid membership program as it chases...

March 7, 2024

Tesla is the new meme stock, according to...

July 12, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (1,516)
    • Investing (3,933)
    • Politics (5,246)
    • World (4,762)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: TheInvestmentWhisperer.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 TheInvestmentWhisperer.com | All Rights Reserved