Definition of Median Wage

What does the term "median wage" mean? What is the definition of the term "median wage"?

A "median wage" is the boundary between what the highest 50% of earners are paid and what the lowest 50% of earners are paid.

For instance - let's say that the "median wage" of a doctor in the United States is $74,500. This would mean that 50% of all doctors in the United States make more than $74,500, while 50% of all doctors in the United States make less than $74,500.

Another example - let's say that the median wage of a factory worker in North Carolina is $24,600. This would mean that 50% of all factory workers in North Carolina make more than $24,600 per year, while 50% of all factory workers in North Carolina make less than $24,600 per year.

The median annual wage in the United States in 2011 was $26,364.

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