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It compares people of the same age or age category and assumes that IQ is normally distributed, that the average (mean) is 100 and that the standard deviation is something like 15 (IQ tests sometimes differ in their standard deviations).
68% have an IQ level between 85 and 115. Each 15 IQ point interval is called one standard deviation â so we can say that 95% of the population have an IQ between -2 and +2 standard deviations from 100. Mensa requires an IQ of 130 which puts you in the top 2% of the population. Now look at this data on college students.