What is the difference between average package and median package in IIMs?
Asked by Hardik agarwal
-
1 Answer
-
Hello,
An average salary or arithmetic means figured by selecting a group of people with similar profiles, adding up their salaries, then dividing this number by the total number of people in the group. Average salary = Sum of all salaries/total number of Similar Profiles.
A median is also known as the 50th percentile. Exactly, 50 percent of people make less than the median and 50 percent make more. Thanks and regards.
Related Questions
Taking an Exam? Selecting a College?
Get authentic answers from experts, students and alumni that you won't find anywhere else
Sign Up on ShikshaOn Shiksha, get access to
- 63k Colleges
- 964 Exams
- 612k Reviews
- -50000 Answers