In addition to flowers, extra hugs, and greeting cards, your checklist for Mother's Day gifts this year should include a check--for $35,000. That's the recommended amount of mom's annual raise this year according to a recent study, bumping up mom's total worth in the job market to $761,650 a year.
The eighth annual Edelman Financial Services' Mother's Day Index examined salary data observed from the U.S. Bureau of Labor Statistics. The goal of the study was to establish criteria to determine what the combined median yearly salary would be for a multitasking mother.
"Edelman Financial Services is attempting to quantify and track the true market value of a mother's annual worth in today's economy," said Ric Edelman, owner of Edelman Financial Services LLC based in Fairfax, Virginia, in a prepared statement. "Of course, no one can place a value on the love and affection that mothers give to their families, but since a mother wears many hats and is on duty 24/7, we decided that a typical mother deserves a full-time yearly salary for all 17 key occupational positions."
The study combines the salaries of the many occupations that a typical mother might hold during the course of a given year. Moms were found to perform such tasks as: raising children; cooking meals; taking care of the house; caring for pets; dispensing medication and nursing care; attending meetings and functions; listening to and resolving family problems; maintaining family order and harmony; assisting with homework; providing transportation; managing family finances; and keeping the family on schedule.
"If you haven't given much thought to the benefits of having a mom, try finding the money you'd need to pay someone to do everything she does," Edelman says. "Don't forget to put the check in the Mother's Day card--the one for $761,650."
Our IA Leaders Council comprises some of the biggest names in the industry. Click here to find out more.
Staff Editor Kathleen M. McBride reports on the latest IA poll in a special Web Extra. Click here to see how IA readers responded.