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Waltham, MA,
May 2nd, 2007
-- Salary.com, Inc. (NASDAQ: SLRY), a leading provider of on-demand compensation management solutions, announced today the 2007 Mom Salary survey. Based on its survey of more than 40,000 mothers, Salary.com determined that the time mothers spend performing 10 typical job functions would equate to an annual salary of $138,095 for a stay-at-home hom. This is a 3 percent increase over the 2006 salary of $134,121, but still nearly one percentage point below employers' prediction of an average 3.9 precent annual pay increase according to a Salary.com survey. Working Mom's 'at-home' salary is $85,939 in 2007--an increase of only $63 from last year; this is in addition to the salary they earn in the workplace.
"This is Salary.com's seventh year looking at the value of mom's work and there's always a surprise element," said Bill Coleman, senior vice president and chief compensation officer at Salary.com. "Mom works multiple jobs and rarely gets a break from the action, working an average of 52 hours of overtime. The lower than average merit increase reflects that many of the 'mom jobs' are not as highly valued as the management, non-exempt and executive jobs performed by most US employees."
A large portion of mom's salary is from the amount of overtime worked. According to the Salary.com survey, stay-at-home moms work a 92 hour "workweek" – more than half her time spent on the job is overtime. Working moms, however, logged over 9 hours of overtime for an average 49 hour mom work week beyond their full time paying jobs.
In past Mom Surveys, many playfully asked, "So, who will pay mom's salary?" This year, Salary.com worked with Abbott's Similac brand to create a nationwide contest to answer this question. Abbott is holding the "Similac Mom's $135K Payday" contest, which will award one mother with a full year's salary in recognition for all her hard work. For more information, visit http://SimilacMomsPayday.com.
Workplace Trends = "Marketable Moms"
More and more moms are considering re-entering the workforce and want tangible ways to value the real skills they have gained and transfer them into their next job. Employers are increasingly looking to moms as a strong recruitment pool, especially in light of the tightening labor market. Not only are they talented, they're experienced managers, motivators, decision makers and client specialists after spending time in both the workforce and as a mother.
"We believe it is important that mothers understand the value of the work they are doing," said Bill Coleman, senior vice president of compensation at Salary.com. "If mom decides to re-enter the workforce, she should be aware that while she may have been out of the workforce, the skills she has gained by raising kids is transferable to the workplace."
Salary.com's research indicates that there are real skills stay-at-home moms can leverage to become "marketable moms" in the eyes of potential employers. For complete results, please visit http://mom.salary.com.
About Mom Salary Wizard®
Moms and their families can visit http://mom.salary.com and create their own "mom paycheck" with the Mom Salary Wizard®, the first interactive tool that allows moms and their families to price the "mom job," based on location and mom's personal hours worked in each of the 10 roles. Users can create a hypothetical mom paycheck and mom pay stub, which can be printed and emailed to family and friends for Mother's Day.
Methodology
Salary.com defined the Mom job description as a "hybrid job description" with over 10 jobs that make up the position of Mom. The job titles that best matched a mom's definition of her work are (in order of hours spent per week): housekeeper, day care center teacher, cook, computer operator, laundry machine operator, janitor, facilities manager, van driver, CEO and psychologist. Over 40,000 moms quantified their hours per job description and Salary.com benchmarked the median salaries for each job to the national median salary for each position as reported by employers. The final salary was calculated by weighting the salaries and hours worked in each role.
About Salary.com, Inc.
Salary.com is a leading provider of on-demand compensation management solutions helping businesses and individuals manage pay and performance. Salary.com provides companies of all sizes with comprehensive on-demand software applications that are tightly integrated with its own proprietary compensation data sets, thereby automating the essential elements of the compensation management process and significantly improving the effectiveness of its clients' compensation spend. For more information, visit www.salary.com.
Contact:
Jared Jost
p: (781)464-7341
press@salary.com
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