For this episode of Sunday Skills, I wanted to explain some statistical concepts used by many compensation consultants when they produce compensation analyses for their clients.Very often, the results are presented “raw”, with a nice graph and a R2 or R-square value (or a series of values) mentioned on the side. But many HR Generalists,…
How to compare average and median salary information
December 11, 2011 by Leave a Comment
I recently described how to calculate a percentile. Today I will clarify the difference between the average and the median. Technically, the average is the sum of all data points, divided by the number of data points. The median is the 50th percentile, or the value that splits the data points in two equal groups…
Percentiles – an easy way to “figure it out”
October 16, 2011 by 3 Comments
This Sunday Skills is about percentiles. It is a very useful concept in Compensation & Benefits, yet I have struggled to find an easy-to-understand definition of it and how to easily “calculate” it. This article in Connexions explains that today there is not an agreed definition of percentile, in the sense that it can be…
