What is the Median Wage?
The Median Wage is the wage at that 50th percentile, meaning half the employees will be earning over the median wage and half will be earning under it. It is a basic metric of salary and compensation.
From a management perspective, the median wage is a useful metric for compensation comparison within a group or organization as well as within an industry. It provides a means for benchmarking salary in order to determine competitive wages and assist in negotiating salaries.