What is 'Duration'. Duration is a measure of the sensitivity of the price -- the value of principal -- of a fixed-income investment to a change in interest rates. Duration is expressed as a number of years. Bond prices are said to have an inverse relationship with interest rates.
Now, an attractions employee of Walt Disney World who has put in, for sake of argument, 40 years with the company (yes, they exist, I have met many) after this contract will make $14.07 an hour (with additional $.50 per hour wage increases per year over the next three years).
National Pay Statistics. According to the U.S. Bureau of Labor Statistics, industrial production managers earned an average hourly wage of $46.87 in 2012, and an average annual salary of $97,490. Half of all production managers reported salaries ranging from $69,040 to $116,310.