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What is the mean and the median?

What does this "median salary" mean.......?

  • Can someone please explain to me what a $79,000 median salary is? I'm only 13 years old, but I have certain jobs and professions in mind. One of them is a Software Engineer - it is one of the occupations projected to grow the fastest between 2006-2016. It is currently rated the 5th best job in America on CNBC.com. It gives a few details about the job, and I seem interested in those kind of things. It says at the end of the information, Median Salary: $79,780. I just want to know what that means. Is that how much I would make in one year? I don't know, I just need someone to tell me exactly what that would be. And, is that a lot of money to make? Here is the link to the page I found about this: http://www.cnbc.com/id/28527404?slide=7 Thanks.

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Median Salary means the Average salary for that job. Some people will make a little more, some a little less, but that is the average out of all the salaries for that specific job. And yes 79,780 is a great salary! I hope to be lucky enough one day to earn that much money in one year! Good luck!

Median is the "middle" ranked number. It means half the people who work as Software Engineers have a salary of above 79780, and the other half has a salary below it. Instead of calculating the average, the median can sometimes be more useful to give you an understanding of roughly what your salary will be. In this case, it means if you're getting a salary similar to "mr Average Joe Software Engineer", you'll get a salary of 79780$. Edit: Note the difference to average, where you sum up everyone's salary and divide it by how many people there are. Here you actually take the middle values, so if 5 people had the salaries of 2,2,3,6 and 12$, the average would be (2+2+3+6+12)/5 = 5$, while the median salary would be 3$.

Median salary is the average salary. It is generally not the starting salary rather it is an average of the top and bottom salaries. Someone who is just beginning might only get 50,000 a year while someone who has been in the field for a long time might make 100,000 per year.

Median is a certain measure of average. It is probably the most accurate when looking at salaries. It means that when all the salaries were ordered from lowest to highest, $79 000 was right in the middle. So if becoming a software engineer, you could get paid less or more than this PER YEAR, but it is the average, or the middle score. That is an average to higher wage, but it really depends whether you are interested in it or not. As in, do you like Information Technology or Computer Tech at school? IF you do, that's a good wage, and you will love it, which is the main thing you want to worry about.

That is the average salary for that profession

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