Median Wage

What is Median Wage?


‘Median Wage’ refers to the wage that lies right in the middle of a data set in which all the wages are arranged in ascending order. In cases where the data is a set of even numbers of wages, the average of the middle two salaries is considered the median wage.


It is generally considered to be a better estimation of wages than ‘mean wage’, which simply calculates the average of the set of wages. It is a good practice to understand the media wage for any job before applying for the same.


Similarly, finding the median wage will also help in negotiating the salary for a candidate securing a new position. It will also allow the candidate to understand whether the salary package being offered is fair.

More HR Terms

Machine Learning

What is Machine Learning?    Machine Learning refers to a branch of artificial intelligence in which the machines are subjected to huge amounts of data

Human Resource Planning

What is Human Resource Planning?   ‘Human Resource Planning’ refers to setting the goals for the HR department and planning the process to achieve that

Basic Salary

What is the Basic Pay?   The basic salary is the fixed amount or compensation that employees get in return for their performance or professional

Contact Us

Contact Us

We use cookies on our website to provide you with the best experience.
Take a look at our ‘privacy policy’