A new study has claimed that the cost to employ someone to do the work of a stay-at-home parent would be around €54,000 per year.

The research is from life insurance and pension provider Royal London Ireland and shows the estimated stay-at-home salary is up from 2022’s €53,480.

The yearly ‘Stay-at-Home Parent Survey’ reveals that more than 90% of people underestimate the monetary value of a stay-at-home parent with only 8% valuing the job at over €50k.

The survey of 1,000 adults estimated the potential salary of a stay-at-home parent at an average of €30,547 in 2023, which represents an increase of €2,087 compared to 2022.