About VR ‘s Wage Survey
VR carries out a wage survey among all full members once a year. Wages shown are monthly wages for a full time job in January each year, the average wage for a chosen job. Median wage and lower and upper quartiles represent the wage distribution thus:
- The median wage is the wage in the middle, half of survey respondents earn less and half earn more.
- 25% or lower guartile represents the wages of the lowest-paid quarter of survey respondents, 75% earn more.
- 75% or upper quartile represent the wages of the highest-paid survey respondents, 75% earn less.
The average can be misleading when a few individuals in the group have much higher or much lower wages than most of the group. In that case, the median is often a better measure of wages in the group. Numbers for work hours per week are stated only as averages.
Distribution of wages
On the basis of the average, the median, 25th percentile and 75th percentile, the distribution of wages can be assessed as follows:
- The wider the gap is between the 25th percentile or lower quartile, median and 75th percentile or the upper quartile, the greater the distribution of the relevant group's wages. The wider the gap is, the more difficult it is to ascertain the most common wages are in the group. On the other hand, the wages in the group are more uniform as the gap between these figures narrows.
- If the average is higher than the median, in all likelihood several respondents in the group have considerably higher wages than most and pull up the average. If the average is lower than the median, in all likelihood several respondents in the group have considerably lower wages than most and pull down the average. If the median and average are similar, a certain equilibrium prevails in the group's distribution of wages.
Gallup is responsible for carrying out the survey and calculating the results. Wages for less than full time work (70% - 99%) are recalculated to 100%.