With Mother’s day approaching a number of analysts have calculated the equivalent compensation for a individual doing comparable work. As Huffington Post reports: “A mother’s hypothetical pay fell for the second year in a row, dragged down by stagnating wages in the United States, according to insurance information website Insure.com.
“A mom in 2013 was worth $59,862 per year, down from $60,182 in 2012 and $61,436 in 2011, Insure.com said, calculating the salary based on U.S. Bureau of Labor Statistics (BLS) data.
This was the third year Insure.com released its data just ahead of Mother’s Day.
“By another measure, the “mom salary” rose slightly this year after experiencing a big dip in 2012.
The career website Salary.com, basing its pay figures from businesses employing 25 people or fewer, showed a stay-at-home mom was worth $113,586 in 2013 versus $112,962 and $115,432 in 2011. The domestic work of a mother who has another job was valued at $67,435. “The hypothetical mom salary stagnated as U.S. wages fell to a record low of 43.5 percent of GDP in 2012. For many workers, wages have been stagnant for the past decade, according to the liberal-leaning Economic Policy Institute.
“Average wages for typical mom jobs have been dropping, pushing down mom’s annual value,” said Amy Danise, editorial director of Insure.com.
“Today, cooks are paid a mean hourly wage of $9.03 nationwide, which means moms could pocket almost $6,570 a year for the 14 hours a week they said they spend preparing meals. In 2012, cooks earned $9.08 per hour and in 2011 they earned an hourly wage of $9.53, according to Insure.com.
“Helping with homework pays $18.23 per hour, a little more than it did in 2011, when teachers and instructors earned on average $17.85 an hour.
“Abby Euler, general manager of Salary.com, said private sector salaries rose 3 percent overall between 2008 and the end of 2011 and have yet to revert to a more typical 4 percent annual increase.
“All of the salaries are contingent on what’s going on in the economy,” Euler said.
Both websites conducted surveys that found mothers work about 90 hours a week. Insure.com categorizes a mother’s labor as predominantly unskilled, with a few exceptions such as teaching and nursing. Salary.com pays a mom the same wage as a psychologist ($38.03 per hour), a facilities manager ($31.59 per hours), or a CEO ($54.58 per hour) for several hours a week on top of the unskilled work.
Some of this “mom” value is also in the eye – or wallet – of the beholder. Insure found 56 percent of women and 62 percent of men with children age 12 and under living at home said they would pay someone else less than $40,000 a year to perform mom’s work. (Reporting by Atossa Araxia Abrahamian; Editing by Daniel Trotta and Andre Grenon)
More at: http://www.huffingtonpost.com/2013/05/07/mom-salary-2013_n_3225683.html