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How much is parenting worth?

The job of being a parent is worth an annual salary of $1,214,230!

Article published: May 06, 2024

Mother鈥檚 Day this month and Father鈥檚 Day next month are opportunities to think about all that our parents have done for us. How can you put a price on it? Our parents may be priceless to us, but let鈥檚 say we tried to create a salary for the job of 鈥減arent鈥 based on today鈥檚 labor market. We researched salaries of many possible occupations that a typical parent might hold in any given year. Using those metrics, hypothetically, parenting is worth about $1.2 million per year, based on salary data from the Bureau of Labor Statistics.

Using the salary data, we determined what the combined median yearly salary would be for a multitasking parent, who takes care of children, manages family finances, provides transportation, cooks meals, cares for pets and more. (See the full list of occupations and accompanying salaries in the table below.)

Based on these 17 key occupations, we estimate that, this year, a parent鈥檚 earned salary is about $1.2 million a year, or almost $100,000 per month. Of course, no one can place a value on the love and affection that parents give to their families.

Because a parent wears many hats and is on duty 24/7, 365 days a year, we decided that a typical parent deserves a full-time yearly salary for all 17 key occupational positions.

On that basis, you can argue that these figures should be higher, because they do not include the retirement, health and insurance benefits that workers in these positions typically receive.

As we think about our parents this Mother鈥檚 Day and Father鈥檚 Day, let鈥檚 remember the money we would need to pay someone to do just some of the things that they have done for us. Ultimately, who would have the money to hire parents as good as ours?

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