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Mean Wage

The mean wage is the average wage that employees receive for the same work performed during a given period of time. It is determined by adding together all of the wages of employees in a specific job or industry and dividing that total by the number of employees. This figure is often used as a benchmark for determining salaries to offer new hires or for estimating costs for new business processes. While this can seem like a straightforward measurement, there are complications that arise as a result of subtle differences in the job classifications and conditions. Different levels of experience and education of the workers in the sample can also skew the results.

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The content on our website is only meant to provide general information and is not legal advice. We make our best efforts to make sure the information is accurate, but we cannot guarantee it. Do not rely on the content as legal advice. For assistance with legal problems or for a legal inquiry please contact you attorney.

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