Using Averages

Big Pay Packages Return to Wall Street - WSJ.com

This above-linked WSJ article talks about the average compensation per employee at a few of the largest Wall Street firms. Saying the average pay at Goldman Sachs is $700,000 leaves the impression that every employee enjoys such opulent compensation.

I wonder what the median is or the quartiles. That type of information would be more informative. Otherwise I am left thinking about the old anecdote about Bill Gates and six people in a bar having an average salary amongst them of $170 million or however Gates's salary plus six $0 salaries average out.