Childcare workers only get £1 for every £9.50 of benefits to society they create, according to a recent study called ‘A Bit Rich’ by the New Economics Foundation. In contrast, leading bankers (who are paid £500 thousand to £80 million a year) actually destroy £7 for every £1 they’re paid!
OK, to be fair, the aftermath of the global economic crisis isn’t the best of times to be considering how much value bankers generate. Still, the message is clear: Childcare workers could stand to be appreciated a whole lot more.
How Much More?
How Rewarding Is Working With Children?
10 times more sounds about right, wouldn’t you say? Of course, we all know that salaries of childcare workers isn’t going to budge no matter how many men in white lab coats say they’re undervalued. Even years of experience and qualifications will only up their salaries by a tiny amount.
Maybe the low salaries of childcare workers is due to the fact that society believes it’s an easy job, which anybody can do. Well, I’ve spent years as an analyst in several top financial institutions. While it’s debatable how well your average childcare worker would fit into the world of finance, I can confidently say that few of my highly-paid ex-peers from the world of finance would be able to ensure the educational, physical, social and emotional well-being of children.
And isn’t that what salaries are about? The fewer the number of people who can accomplish a required job, the higher their monetary reward should be?
But What’s The Required Job?
I think that’s where the real problem lies. To me, the ‘required job’ would be to make sure kids grow up happy, and at their full potential. To most, however, the ‘required job’ is probably to ensure that kids in a childcare setting are merely still breathing when their parents come to pick them up. Being happy and encouraging their full developmental potential would just be (unnecessary) bonuses.
Here’s the 44 page study by the New Economics Foundation:
Or if you prefer, a 1 page BBC article which sums it up pretty well.
Posted by p a t t on 6 January, 2010 at 2:41 am
oooh – finally – a new post!
pity abotu teh salaries – i think teachers shoudl be paid more too.
But as you say – expectations are low in a childcare centre
how abotu nannies? those that are expected to provide the educational physical social adn emotional wellbeing of children – one per family? Those elite childcare providers surely earn tonnes more than those in childcare centres right?
Posted by MarkLim81 on 9 January, 2010 at 8:52 am
It was the holiday season!
I’m not sure about ‘elite childcare providers’, but the latest issue with minding children at home in the UK is, it’s illegal to do so unless you’re registered.
Sounds practical, but what it means is if 2 neighbours agree to look after one another’s kids while they take turns going to work, they’re breaking the law…
Posted by p a t t on 12 January, 2010 at 2:50 am
that’s so warped – helpign each other out is now illegal
in malaysia you get that type of ‘childcare’ for RM 10 per day
Posted by MarkLim81 on 12 January, 2010 at 2:51 am
Yea, and the RM10 includes a free overdose of cough medicine to knock your kid out so the ‘childcarer’ can go shopping. ^_^