Mean Wage

Posted in Human Resources Terms, Total Reads: 1726

Definition: Mean Wage

Mean wage, also known as average wage, is the average amount of salary or wage earned by each employee in an organization. The mean wage can be calculated by adding all the salaries of the people employed in the organization and dividing the sum of total wages by the total number of people employed.

The parameter of mean wages can help understanding the approximate value of the employees in an organization as well as the industry.

Mean wages can differ from company to company in the same industry, and they would also differ from one industry to another.

For Example

Mean Wages paid in IT work may be more than auto sector.

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