Study Estimates Stay-At-Home Parents’ Salary To Be $178,201 Because They Are ‘The CEOs’ Of The Home
Being a stay-at-home parent is a full-time job, 24 hours a day, 7 days a week. There are rarely holidays, vacations, and definitely no paid sick days. It can be hard to determine where the job ends and family life begins.
Salary.com has decided to put a number on exactly how much a stay-at-home mom would make if she were paid accordingly for her services. Their suggested annual income was much higher than most people expected. Except for stay-at-home moms, of course, who collectively said, "Yeah, that sounds fair."
At-Home Childcare Providers Are Finally Getting The Recognition They Deserve
Anyone who has ever been the primary stay-at-home childcare provider knows the exhausting physical and mental toll it can take on the body.
People are beginning to understand the large responsibility that comes with "staying home." Even LinkedIn has finally updated its job titles to more accurately reflect the field of childcare services.
"If Stay-At-Home Moms Earned An Annual Salary For All The Jobs They Perform On A Daily Basis, How Much Would They Earn?"
Salary.com wanted to determine what an annual income would look like for parents if they were paid based on the quantity and type of work that they perform.
The study asked: "If stay-at-home moms earned an annual salary for all the jobs they perform on a daily basis, how much would they earn?"
The Study Estimated The Value Of A Mother's Work
The research team "estimated the value of a mother's work by tracking real-time market prices of all the jobs that moms perform."
The study considered traditional roles like "housekeeper, dietitian, and daycare teacher" as well as more modern roles like "like network administrator, social media communications, and recreational therapist."
The Median Annual Salary For A Stay-At-Home Mom Should Be $178,208
The results determined that "the median annual salary for stay-at-home moms in 2019 is $178,201." Phew, if only!
The annual salary has actually increased from the last report in 2018, which estimated a mom's salary to be just over $162,000. That's a 9.6% increase.
"Parents Are The CEOs, Judges, Academic Advisors, And So Much More"
According to Sarah Reynolds, the Vice President of Marketing at Salary.com, "Parents hold the ultimate hybrid job at home."
She says, "They're CEOs, judges, academic advisors, and so much more."
The Modern Caregiver Role Looks Very Different Than It Did In The Past
According to the Salary.com study, examples of the "mom hybrid job roles" include instructor, photographer, plumber, and athletic director.
It's true that this year more than ever parents were required to assume instructor/teaching positions for things they had never expected. Surely that justifies a pay raise!
There Were New Challenges For Parents To Tackle During The Pandemic
Stay-at-home parents faced an entirely new set of challenges during the pandemic which caused more stress.
The transition to online learning and providing full-time childcare was more challenging for a lot of parents to figure out than it was for their children.
The Majority Of Stay-At-Home Parents Live In A Single-Income Family
In addition to being on the job at all times, stay-at-home care providers often act as the homemaker, schedule keeper, appointment maker, and chauffeur for their little ones.
The job is as rewarding as it is draining. While many parents are thankful to be able to stay home with their children, they also feel the financial impact of being part of a single-income family.
A Parent's Job Requires A Diverse Skill Set That Has High Market Value
Reynolds continues, "The role of Mom requires a diverse skill set that commands serious market value in the talent market, and with new demands on Mom's time arising every day."
The combination of jobs that a home caregiver does can easily total an average of 96 hours in a workweek, including midnight wake-up calls and unexpected medical emergencies.
The Job Doesn't End When The Kids Go To Sleep
It's evident that a stay-at-home parent's job is never really done.
From the time they wake up to the time they go to sleep, they are responsible for maintaining a functional home while raising healthy and intelligent children. It's a lot of pressure that is extremely hard to understand until you've lived it.
The Estimated Annual Salary Is Only Expected To Increase
Reynolds said the market value for a stay-at-home parent is expected to continue to increase in the future.
She added, "The immense dedication and work ethic of modern moms does not go unnoticed or unappreciated."
