What is the difference between average and median package? Which option should I consider while taking admission in a MBA college?

When considering the difference between average and median packages in the context of MBA admissions, it’s important to understand what each term means and how they can impact your decision.

 Definitions:

• Average Package: This is calculated by adding all the salary packages offered and dividing by the number of packages. It can be skewed by outliers, such as a few high salaries; if several graduates receive extremely high offers, the average can appear inflated.

• Median Package: This represents the middle value in a package list when arranged in ascending order. The median is often a better indicator of what a typical graduate can expect because extreme values do not significantly affect it. 

In summary, while both average and median package data are important metrics, they can tell different stories. It is wise to consider the median for a more balanced perspective but also to factor in other qualitative aspects when making your decision about MBA admissions. I hope this information is useful and clears your doubts but if you still have any queries you can ask them here.