The estimated value of the work done by a stay-at-home parent has been calculated to be €57,140, according to new research [1].
The analysis was carried out by pension and life insurance provider Royal London Ireland.
The study analysed the typical daily tasks and responsibilities of stay-at-home parents and researched the cost of employing someone to do these jobs, based on current wage data.
Additionally, a survey of 1,000 adults found that almost nine in ten people underestimated the monetary value of a stay-at-home parent.
The survey found that women are almost three times more likely than men to accurately value stay-at-home parenting.
According to the most recent census data for Ireland, there were 272,318 stay-at-home parents in 2022 and 90% of them were women.
“Stay-at-home parents have a diverse range of responsibilities – including childcare, household management, budgeting, emotional support, and handling children’s transportation needs – yet the full value of their work often goes unrecognised,” said Karen O’Flaherty, Senior Propositions Executive of Royal London Ireland.
An Amarach Research poll conducted on behalf of the Iona Institute last year, found that the vast majority of mothers would prefer to stay at home with their children [2], rather than go out to work, given the choice.