Salary survey data is presented using a range of statistical measures, each of which describes the distribution of pay across the surveyed population in a different way. Understanding what each measure represents — and when to use which — is essential for reading benchmarking reports accurately and drawing the right conclusions from the data.

Vencon Research's Consultant Salary Survey presents compensation data using all of the measures described below, across career levels and sub-levels, for both firm-weighted and incumbent-weighted views.

Mean

The mean is the arithmetic average: the sum of all values divided by the number of observations. It is simple to calculate and intuitive to understand, but sensitive to outliers. In consulting pay distributions, where a small number of firms may pay significantly above or below the rest of the market, the mean can be pulled materially away from the typical value. For this reason, the mean is often less useful than the median as a reference point for competitive positioning.

Median

The median is the central value in a ranked series — the value at which exactly half of the observations fall above and half below. It is equivalent to the 50th percentile (P50) and is commonly referred to as the market median. Because it is unaffected by extreme values, the median is the most robust and widely used single reference point in compensation benchmarking. Most firms set their target market position relative to the median — at P50, above it, or below it — making it the natural anchor for pay structure design. See Target Market Percentile.

Midpoint

The midpoint is the average of the minimum and maximum values in a dataset: (minimum + maximum) ÷ 2. It is not the same as the median, which is the central value of a ranked series, and the two will diverge whenever the pay distribution is skewed. The midpoint is most useful as a reference point within a defined pay range or salary band, where it represents the midpoint between the established floor and ceiling. It is less useful as a market reference point because it is heavily influenced by outliers at either extreme.

Weighted Mean

The weighted mean is a variant of the arithmetic average in which each data point is weighted by a factor — typically the number of incumbents at each career sub-level — rather than contributing equally. This means that sub-levels with more people have proportionally greater influence on the result.

The weighted mean is used when aggregating across career sub-levels to produce a level-wide average that reflects the actual distribution of people within the level, rather than treating each sub-level as equivalent. It is the basis for incumbent-weighted market statistics, where each individual consultant in the dataset contributes equally to the aggregate figure.

Percentile Distribution

A percentile expresses the value below which a given percentage of observations fall. The P25 is the value below which 25% of the survey population falls; the P75 is the value below which 75% falls. Vencon Research presents the full percentile distribution — typically P25, P50 and P75 as standard, with P10 and P90 available in more detailed outputs — rather than reporting only the median.

The percentile distribution is more informative than any single average because it reveals the spread of pay across the market. A narrow distribution indicates a market where most firms pay similarly; a wide distribution indicates significant variation. This spread is also captured directly by the range spread statistic. See Percentile for a full explanation of how percentiles work and how to use them in benchmarking.

Choosing the Right Measure

For most compensation management purposes — setting pay ranges, benchmarking individual pay, designing salary structures — the median (P50) is the most appropriate single reference point, because it is robust to outliers and directly reflects the midpoint of the market. The mean is useful as a secondary check but should not be used as the primary benchmark in markets with skewed distributions.

The full percentile distribution is the most complete picture: it shows not just where the midpoint sits but how much variation exists, how competitive a given pay level is relative to the full range of market practice, and where the firm sits relative to both the median and the extremes of the market. This is why Vencon Research presents percentile breakdowns rather than means alone.