'Being a father can make you rich'

Fatherhood pays bonus! Men who have children earn almost up to 19 per cent more than their childless counterparts by the age of 40, according to a new study. Analysis by the Institute for Public Policy Research (IPPR) also found that mothers suffer a “pay penalty” - with incomes up to 14 per cent less than women who do not have children.

According to the statistics, fathers win a “pay bonus” as their salaries are likely to be almost a fifth higher than men who do not have children, The Telegraph reported. The study shows although women have made substantial progress in the workplace over the past three decades, with the “gender pay gap” between men and women in their 20s having almost disappeared, having children can set them back professionally.

IPPR believes that men who become fathers increase their earning capacity because they feel a greater responsibility towards being a breadwinner for their families and compensating, in some cases, for their partners’ reduced earnings.

Many employers are said to value fatherhood because it is thought to make male staff more responsible and loyal - putting them at the top of the queue for promotions.

“We were surprised to find a ‘fatherhood pay bonus’. With dads in the UK tending to work long hours and many fathers still seeing themselves as breadwinners, they may be working longer to make up for their partners working fewer hours,” Dalia Ben-Galim, associate director of the IPPR, said.

Comments (+)