Difference between revisions of "Salary Analysis Report"
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The Salary Analysis consists of a comparison of average and median pay of females to males and whites to minorities within each job title. The '''Median''' results of the compensation analysis shows the midpoint salary figure for females, males, whites and minorities. The '''Average''' results of the compensation analysis shows the average of the sum of all salaries being analyzed divided by the number of salaries being analyzed. The report shows the relative percent between female and male and between minority and white salaries. The report also shows the dollar difference between male and female and between white and minority median and average salaries. | The Salary Analysis consists of a comparison of average and median pay of females to males and whites to minorities within each job title. The '''Median''' results of the compensation analysis shows the midpoint salary figure for females, males, whites and minorities. The '''Average''' results of the compensation analysis shows the average of the sum of all salaries being analyzed divided by the number of salaries being analyzed. The report shows the relative percent between female and male and between minority and white salaries. The report also shows the dollar difference between male and female and between white and minority median and average salaries. | ||
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Latest revision as of 17:19, 30 October 2014
The Salary Analysis consists of a comparison of average and median pay of females to males and whites to minorities within each job title. The Median results of the compensation analysis shows the midpoint salary figure for females, males, whites and minorities. The Average results of the compensation analysis shows the average of the sum of all salaries being analyzed divided by the number of salaries being analyzed. The report shows the relative percent between female and male and between minority and white salaries. The report also shows the dollar difference between male and female and between white and minority median and average salaries.
Median Compensation Analysis
The median is one way to describe the mid point of the group of salaries being analyzed. It is the salary figure that is larger than or equal to half of the other salaries and equal to or smaller than the other half of the salaries. It is easier to identify the median if the items are arranged in ascending or descending order. For example, in the following group of salaries the median is $19,334, since $19,334 is the number at the middle of the distribution.
$32,988
$19,552
$19,344
$18,304
$18,264
If there were an even number of salaries in the distribution, the median is determined by computing the average of the middle two salaries. For example, in the group of salaries below the median would be $32,465, which is the average of $33,022 and $31,900, which are the middle two salaries.
$35,704
$33,255
$33,022
$31,900
$29,786
$28,659
Analysis of median salary is useful because very high or very low salaries in the distribution do not affect it. A comparison of median instead of average salaries may be more appropriate when the group contains a small number of extreme salaries.
Average Compensation Analysis
The average, or the arithmetic mean is another method of describing the mid point of a group of salaries being analyzed. The average is computed by adding the salaries in a distribution of salaries being analyzed, and then dividing their sum by the number of salaries. Analysis of average salary is useful for comparing groups of larger sizes; for example comparing the average salary of a large group of men to the average salary of many women.
See Also
Report Options
Report Options - Salary Analysis Report
Understanding Your Reports
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