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Median Wage

definition and explanation

Synonyms:

median pay, middle pay, mean pay

What is

Median Wage

The median wage is the wage at which half of the workers in an occupation earned more than that amount and half earned less.

Median Wage

explained

The median wage is the wage at which half the workers in an occupation earn more than the wage and half earn less. The median wage is less affected by outliers than the mean wage.

The median wage is a good measure of the average wage for an occupation. It is less affected by outliers than the mean wage. Outliers are workers who earn much more or much less than the average worker in an occupation.

The median wage is calculated by first sorting the wages in an occupation from lowest to highest. The wage in the middle of the sorted list is the median wage.

For example, if there are 100 workers in an occupation and their wages are sorted from lowest to highest, the wage in the 50th position is the median wage.

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