The work of a stay-at-home parent is valued at almost €55,000 per year, according to new research.
Staying at home to care for your children has its positives but generally takes a toll financially.
A new study by iReach Ireland has calculated the value of a stay-at-home parent at €54,590 a year when roles such as childcare, cooking, cleaning, and taking children to activities are considered.
More than 90% of people surveyed for the study underestimated this value by at least €24,000, with women more likely to estimate the value accurately.
Similarly, in last year's census, 90% of respondents who reported that their primary economic status was "looking after the family home or family" were female.
Survey participants estimated that the role was valued at an average of €30, 547.
Almost one-third of those surveyed estimated that the value was between €20,000 and €30,000, while one-fifth believed it was as low as €10,000 to €20,000.
Three times more men than women valued it at the lower wage range of €10,000 to €20,000.
The group most likely to guess the value correctly were those aged between 45 to 54.
12% of those valued the role at over €50,000 per year.
Most stay-at-home parents are not paid for their work in the home, leaving them among the most under-valued workers in Ireland.
Duties that were considered
The role of stay-at-home parents involves many different tasks.
The table below shows the average cost per week and hours per week to determine the yearly value.
| Job | Avg cost per hour € | Avg hours per week | Total cost in € |
| Childcare provider | 12.46 | 30 | 373.80 |
| Cook | 12.10 | 15 | 181.50 |
| Cleaner | 10.85 | 8 | 86.80 |
| Handy person | 16.68 | 4 | 66.72 |
| Teaching Assistant | 14.00 | 5 | 70.00 |
| Gardener | 17.00 | 1 | 17.00 |
| Taxi driver | 25.40 | 10 | 254.00 |
| Total weekly cost | 1,049.82 | ||
| Total yearly cost | 54,590.64 |
These costs were calculated by Royal London Ireland, which commissioned the research.
They are up on last year when the estimated value of a stay-at-home parent was €53,480.
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