Dad’s ‘Salary’ Drops for the First Time in Six Years
June 14, 2016 by Insure.com
Insure.com’s annual survey finds Dad would earn a ‘salary’ of $24,738 for the jobs he does around the house:
But Dad says he doesn’t want anything… except maybe some time to relax
IMAGE COURTESY MIKE BAIRD
(Foster City, Calif.) June 14, 2016 – The value of dad’s jobs fell 3.8 percent down to $24,738, according to Insure.com’s annual Father’s Day Index.
Every Father’s Day, Insure.com uses the latest Bureau of Labor Statistics data to calculate the monetary value of 13 household tasks that are commonly asked of dads, giving him a “salary” for all that he does.
Excerpts from Father’s Day Index 2016
Dad makes 38 cents to Mom’s dollar
This year’s Mother’s Day index found mom’s annual salary to be $65,523 – that’s 165 percent more than dad! What gives?
As it turns out, Dad spends an average of 51.5 hours a week on these tasks; mom’s total was 148. So, 35 percent of the work equals 38 percent of the pay.
But how common is it that moms are doing more than 2.5 times the amount of work at home?
In Insure.com’s survey, 31.4 percent of respondents said their house follows “traditional” gender-based household tasks.
- 31.4% of households follow traditional gender-based tasks
- 27.4% of households do not follow traditional gender-based tasks
- 41.2% of households share tasks equally
All these hours spent doing various work add up fast, but there’s only so many hours in a week. Not an easy task, considering the average U.S. worker works a 47-hour work week, runs off an average of 6.8 hours of sleep a night, and is stressing about how to pay for college and save for retirement.
- 168 hours in a week
- 47.6 hours of sleep
- 4.3 hours of commuting
- 47 hours of paid work
- 51.5 hours of household work for dads
- 17.6 remaining hours for everything else!
That also means that the average mom has to do some serious multitasking in order to make up a 79-hour deficit. There’s just not enough hours in the week to fit it all in. It’s no wonder parents are always exhausted. Read the full article at Father’s Day Index 2016.
The following jobs cost dads the most in “pay” this year:
- -29.4% — Plumber
- -16.0 — Athletics coach
- -9.5% — Pest control worker
Dads’ wages saw increases for these common tasks:
- +8.8% — Accountant
- +4.2% — Grounds maintenance worker
- +2.6% — Cook
In a survey of 500 dads and 500 moms, Insure.com found that 26 percent of fathers don’t think they should receive a salary for being a dad, and 18 percent of moms agreed with them.
Consumer analyst for Insure.com, Penny Gusner says, “A sizeable amount of surveyed dads seem to say they don’t need to be paid, which is good since spouses and kids aren’t pulling out their checkbooks any time soon. But Father’s Day is a great time to show a little extra appreciation.”
What Dad really wants is some R&R
Surveyed dads prefer gifts that help them relax and unwind. Continual favorites of dads everywhere, gadgets and grills, just outpaced time away.
- 29.6% — Barbecue grill
- 25.6% — Electronics/gadgets
- 23% — Weekend getaway
- 20.4% — Tools
- 1.4% — Other
Read the full article to learn what gift item dads want least.
A true gift
Each year, Insure.com calculates the value of dad in order to shine a light on what really matters most. For anyone who has a family that depends on them, a life insurance policy is an important piece of protecting your family, should the worst happen. Giving your family the peace of mind of knowing they will be financially supported at a time of loss is one of the most important gifts of all.
“You don’t have to start life insurance talks on Father’s Day, but it is a good time to reflect on all that dad does around the house and how he provides for the family,” says Gusner. “Take that knowledge and make sure that your family is protected with a life insurance policy for both dad and mom.”
Methodology “Dad’s value” is based on occupational wages from the Bureau of Labor Statistics and does not include a salary from work outside the home. It is calculated using a list of common household tasks that fathers often perform. For the data on Father’s Day gifts, Insure.com commissioned a survey of 1,000 men and woman age 25 or older who have children ages 6-20. The survey, conducted by Op4g, was fielded in March 2016. About Insure.com Insure.com provides a comprehensive array of information on life insurance, home insurance, health insurance and auto insurance. The site offers an extensive library of originally authored insurance articles and decision-making tools that are not available from any other single source, including its life insurance estimator. Insure.com is owned and operated by QuinStreet, Inc. (NASDAQ: QNST), one of the largest Internet marketing and media companies in the world. Twitter: @InsureCom
