Foster City – June 15, 2020 – Insure.com, a comprehensive source for insurance information, released its tenth annual Father’s Day Index. Showing the wages fathers would earn for household jobs, dad’s annual “salary” climbed again this year. To keep up with the growing responsibilities a father has, the site added additional jobs this year that amounted in total to a 32% increase over last year’s salary equivalent. It also marks a new high of $37,835.
Insure.com used recent wage data from the Bureau of Labor Statistics and estimated hours spent accomplishing tasks to calculate a “salary” for dad. The earnings are based on his contributions to the household for 16 professions that reflect common chores and activities done around the home and for the family, plus an additional pandemic-related task this year.
Dad’s overall salary has increased the past four years with 14 of the 16 duties increasing in wage since 2019.
The jobs that increased the most in pay were:
- +24% - Refuse and recyclable collector
- +9% - Other teachers and instructors (homework helper)
- +8% - Athletic coach, umpire
- +6% - Laborers and freight movers
- +6% - Computer systems manager
Only two jobs on the index fell in wages:
- -1% - Taxi drivers and chauffeurs
- -9% - Recreation and fitness workers
“The stakes are high in our country right now – particularly for our vulnerable populations or those caring for those who are at high risk. The pandemic has put incredible pressure on us to have candid conversations with our loved ones about loss,” says Penny Gusner, Insure.com’s senior consumer analyst. “Insure.com presents this annual survey to shine a light on the serious issue of having life insurance, by showing all that is involved in running your home and caring for a family – whether you are the primary caregiver or the primary paycheck – or both.”
You can read the full Father’s Day Index 2020 feature on Insure.com, entitled Father’s Day Index 2020: Dad gets a quarantine raise
Additional Resources
- How much life insurance do you need? Our life insurance calculator tells you.
- Best Life Insurance Companies for 2020
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