Percentile of market compensation data the company chooses to target as part of their compensation philosophy.
The 50th percentile (or median) reflects the middle value of a set of numbers, where half of employees in the market in that job earn less than the market 50th percentile, and the other half earn more than this market data.
At the 75th percentile, 75% of employees in the market in that job earn less than the market 75th percentile market data, and 25 percent earn more.