FAIRFAX, Va., May 5, 1999 -- Your Mother may be priceless to you, but in today's job market she's worth over $500,000 per year, according to an Edelman Financial Services Inc. study of the many possible occupations that a typical mother might hold during the year.
The EFS study looked at salary data supplied by the U.S. Bureau of Labor Statistics, trade groups, and human resource and staffing firms. Edelman Financial established criteria and determined what the median yearly salary would be for a multi-tasking mother asked to:
Based on 17 key occupations, Edelman Financial estimated that a mother's worth is approximately $508,700 per year, or almost $42,400 per month.
The 17 key occupations that mothers typically perform, with their median yearly salaries, are:
"Edelman Financial is attempting to quantify what the true market value of a mother's worth is in today's economy," said Ric Edelman, chairman of his full-service financial planning company. "Of course, no one can place a value on the love and affection that mothers give to their families," he said. "But since a mother wears many hats and is on duty 24-hours-a-day, we decided that a typical mother deserves a full-time yearly salary for all 17 key occupational positions." Edelman noted that these figures should be higher, because they do not include the retirement, health and insurance benefits that workers in these positions typically receive.
"So 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 that she does," Edelman said. "You don't have enough money to hire a mom as good as yours -- and from that perspective, our mothers are indeed priceless."
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