Base Wage

Base wage - The wage value by which economic losses are projected forward from. The base wage is calculated in many ways. These include: the most recent wage received; an average of all wages; an weighted average of recent wages with weight given to more recent earnings.

Application to Forensic Economics

A base wage in necessary in order to project any loss into a future time period. It can also be used to project losses into the past if no wage info is available for that time period.