The duties and work fathers perform around the house is now worth $23,344, up from $20,248 last year.
Good news, Dads: Your value is up this year. The duties and work fathers perform around the house is now worth $23,344, up from $20,248 last year.
Who can put a price tag on all that fathers do for their families? Insure.com can. Its annual Father’s Day Index calculates dad’s value by applying data from the U.S. Bureau of Labor Statistics to a baker’s dozen of traditionally male household duties. These include:
· Homework helper
· Family finances
· Groundskeeper, landscaper, snow removal
· Furniture mover
· Car repairperson
· Scout leader
· Toy and furniture assembler
· Pest removal
The increase in this year’s Index is a reflection of higher mean hourly wages for drivers, teachers, coaches and plumbers, Insure.com said in a statement.
What do dads most look forward to putting on their to-do lists? Cooking and barbequing tops the list, followed by helping with homework, driving, coach a child’s team, and assembling toys, bookshelves, and other do-it-yourself projects. (His least favorite jobs, according to the Index, are pest removal, fixing plumbing and moving furniture.
Salary.com conducted its own survey to determine dad’s financial value. Drawing on a survey of 2,347 dads over the course of the year, Salary.com applied its salary data to the jobs thee dads said they worked on most at home and with their children. The top five jobs were the dad equivalent of a day care center operator, computer operator, cook, maintenance worker and van driver.
Stay-at-home dads work an average of 55.7 hours a week on household and childcare related duties, while working dads clock in 33.7 hours a week in additional to working 40 hours a week at their day jobs, Salary.com found. Each group saw a 5 percent increase in the number of hours spent on these duties from 2012.
Factoring in hours worked, base pay and overtime, stay-at-home dads would earn $67,204 annually, while working dads would make $38,231 a year. Their salaries increased 8 percent and 4 percent, respectively.
But dads have nothing on stay-at-home moms who self-report working 94 hours a week. Were they to be paid for their labors, Salary.com estimates their paycheck would be $113,568, up from $112,962 in 2012.
Related story: Mom's value: More than six figures. Click here to read more.
Donald Liebenson writes news and features for Millionaire Corner. He has been published in the Chicago Tribune, The Chicago Sun-Times, The Los Angeles Times, Fiscal Times, Entertainment Weekly, Huffington Post, and other outlets. He has also served as a marketing writer for Chicago-based Questar Entertainment and distributor Baker & Taylor.
A graduate of the University of Southern California, he is married with a college-age son. He also writes extensively about entertainment.