There are 454,700 stay-at-home parents in Ireland.
And while their schedules often involve tougher work and longer (unpaid) hours than any other workers would probably accept, the majority of people massively undervalue their worth in monetary terms.
More than eight in 10 people in Ireland estimate the monetary value of a stay-at-home parent to be approximately €28,000 per year. Now a new survey from Royal London, carried out by iReach in January 2020 suggests the true figure could be over €47,000.
The mean cost of employing a stay-at-home parent was estimated as €28,000.
However, when Royal London researched the average value of the jobs stay-at-home parents do for the family and in the home, including duties such as cooking, cleaning and driving children to their various activities, the calculations revealed that the cost to employ someone to do the household jobs normally done by a stay-at-home parent would be an eye-watering €47,933.
The 2016 census found that there were approximately 454,700 people in Ireland whose principal status was looking after the home or family. Of these, 98% were women, although the number of men in this role nearly doubled in the 10 years up to 2016, rising from 4,900 to 9,200.
Other findings from the survey include:
- Women, on average, estimated the value to be €4,000 higher than their male counterparts’ estimations (€29,000 vs €25,000).
- Respondents in Munster estimated the lowest value for the role (€26,000).
- People in Connacht estimated the highest value (€30,000), followed by Dublin (€29,000), the rest of Leinster (€29,000), and Ulster (€27,000).
“The average expected salary of €28,000 as seen in the survey results is significantly lower than the €47,933 we estimate as the economic cost of a stay-at-home parent in 2020,” said Tony Burke of Royal London in Cork.
“This is lower again than the €48,946 reported by the Central Statistics Office as the average earnings of a person in full-time employment during 2019.”