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    worthbeads's Avatar
    worthbeads Posts: 538, Reputation: 45
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    #1

    Apr 17, 2008, 06:28 PM
    Average monthly wage in USA
    Could someone help me find the average monthly wagemfor a person living in the USA?
    Thank you.
    tinyheart's Avatar
    tinyheart Posts: 3, Reputation: 1
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    #2

    Apr 17, 2008, 06:46 PM
    Quote Originally Posted by worthbeads
    Could someone help me find the average monthly wagemfor a person living in the USA?
    Thank you.
    According to Wikipedia, the average median income in the U.S. is $48,000 per year. Unless I'm missing something, that would make the average monthly income four thousand dollars. Hope that helps.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #3

    Apr 17, 2008, 07:47 PM
    Yes, but remember the US is huge. And wages in places like New York and living costs are many times higher than rual GA or TN for example.

    I will give you an example, when my business in rual TN failed and I closed, the BEST very best job I could find was 10 dollars a hour, and everyone that knew me could not believe I found such a great job.
    ** they even offered health insurance, which was unheard of around there. Walmart was considered by most the best paying job around.
    But with that a two bedroom apartment only cost about 250 to 350 a month.

    Compare this to Atlanta, where a 2 bedroom costs from 700 a month to 1500 a month and even fast food pays 10 dollars a hour normally.
    worthbeads's Avatar
    worthbeads Posts: 538, Reputation: 45
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    #4

    Apr 18, 2008, 08:29 PM
    Thank you both for the help. I'm not too concered about the USA being huge; I'm comparing the wages of the USA to that of Russia.
    vingogly's Avatar
    vingogly Posts: 718, Reputation: 105
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    #5

    Apr 22, 2008, 01:21 PM
    Usually, when comparing salaries between populations, the median's used rather than the mean. Half the people in a population will have a salary greater than the median, half less than the median. The mean (average is the same thing) will be influenced by a few persons making a lot of money or very little money, the median won't since it's based on finding member number n/2 rather than summing everything together. Payscale.com, for example, uses the median rather than the mean... but you may very well find stats for Russia that represent means rather than medians. So be sure you use the median for Russia vs. the median for the USA in your comparison.
    worthbeads's Avatar
    worthbeads Posts: 538, Reputation: 45
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    #6

    Apr 22, 2008, 07:01 PM
    In theory, the median cannot work. Example: Median of $1000 compared to $1 billion will make an outrageous median.

    But yeah, I see what you're saying. Thanks for the tip.
    vingogly's Avatar
    vingogly Posts: 718, Reputation: 105
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    #7

    Apr 23, 2008, 08:49 AM
    Quote Originally Posted by worthbeads
    In theory, the median cannot work. Example: Median of $1000 compared to $1 billion will make an outrageous median
    If you have 99 people making 1 thousand and one person making 1 billion, the median says half the people are making 1000 or less, half are making 1000 or more. Which is exactly right; the median is unaffected by outliers. It provides the middle score and as a stats text will say, it's much better than the mean at describing typical values. In the population you describe, the typical value is 1000, not 1 billion. That's why median is much better for measuring things like income and home prices: you're interested there in typical values and want to eliminate the influence of outliers.

    The mean (average) in this example would be 10000990. This value obviously has little to do with the typical income value you'd encounter when you sample one of the population members. It's the mean that gives you an outrageous result in this case, not the median.

    Vasily
    worthbeads's Avatar
    worthbeads Posts: 538, Reputation: 45
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    #8

    Apr 24, 2008, 05:58 PM
    Oh yes, I did the median wrong. I see what you are saying. My mistake. Thanks.

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