Mysterious Signal Drop on Master Strip

[Cayce]

I've got something going on here I can't figure out. With a Neumann mic going into my Vocals track, and that track going directly into my Master channel, there's a significant drop in signal. The vocal strip is new, empty: no plugins, sends, nothing. Shouldn't the signal in the Master be identical to what's showing on the vocal meter?

See the attached image for the difference in a constant tone fed to the mic and what shows in the Master.

Thanks.

[DetroitT]

Pans law. Or different meter settings.
Pan hard left or right and see the difference.
Level should match.
The amount of middle-dip can be adjusted in session setup (command keypad-2).

[off the wall]

Pan rules shouldn't account for that much difference (3db is default in PT). I suspect meter type differences as well

[Rich Breen]

Definitely different meter types for channel and master - obvious from the meter scales on the two faders.

[Cayce]

Thanks for all the help. Turns out it was the meter type difference. Learned something valuable there.

Thanks again.