Royal London Ireland, a pension and life insurance company, conducted the analysis. The expected pay for a stay-at-home parent has increased from €40,560 in 2015, when the company conducted the same research, to €54,590 in 2023.

Based on current income data, the study examined the usual daily chores and obligations of stay-at-home parents and the cost of hiring someone to perform these duties.

Childcare, cooking, cleaning, and transporting kids to events were among the duties evaluated for the analysis.

As part of the study, a survey of 1,000 adults revealed that nearly 90% of respondents undervalued the financial contribution of a stay-at-home parent.

Only 11% of those surveyed thought that hiring someone to handle a stay-at-home parent's responsibilities would cost more than €50,000.

Nearly one-third of those surveyed said that the work of a stay-at-home parent was worth between €20,000 and €30,000. Women are nearly three times more likely than males to correctly appreciate stay-at-home parenting, according to the survey.

Ninety percent of the 272,318 stay-at-home parents in Ireland in 2022 were women, according to the country's most recent census data.