Our focus right now is dear old mom. How much is she worth in today's job market? According to the Bureau of Labor Statistics, if you add up all the jobs a mother does, she's worth over $500 thousand dollars a year. Here's how it breaks down:
But the financial analysts at CNBC disagree with that figure. They say the value of a stay-at-home parent is priceless, but when you nickel and dime it, running a household and family is worth a lot less than we've been told. Their total figure is $30 thousand a year and here's how they determined that:
The analysts at CNBC based their calculations on what insurance companies have to pay out in a wrongful death suit.
Their thinking is that because a mother doesn't have the skills of a professional bookkeeper, a dietician or a licensed chauffeur, she's not worth as much in the real world.
Families who do lose a stay-at-home parent don't hire 17 professionals to take care of the children. They typically have to hire 2 people, usually for 50 hours a week or less, and pay them between $10 and $15 dollars an hour. Add that up and it's about $30 grand a year.
I think I'm gonna go with the figure the Bureau of Labor Statistics came up with instead.