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Old 1st Dec 2014, 17:59
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kcockayne
 
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jimjim 1

Isn't it a fact that if the median wage is £24,000 pa., or let's call it "X", then there will be many more than half of the workforce on less than "X" & only a relatively few "Higher Earners" on "X+".

Ie, if the average is "X" that does not mean that half of wage earners receive above "X" & half below "X". Rather, it means that far more are below "X" in order to weight the average down to "X".

Or, to put it another way, 1 person earning 100,000 & 14 persons earning 20,000 gives you an average pay of £25,333.

A ratio of 14:1 !
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