Median Wage

Posted in Human Resource Terms, Total Reads: 1094
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Definition: Median Wage

A median wage is calculated by lining up, in order from highest to lowest or lowest to highest, all the salaries of people working in a particular occupation. The one that falls at the midpoint of that range is our desired value.

It signifies exactly what a person precisely in the middle of all the workers in an occupation would earn.

 

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