Do you get confused when someone mentions a term like 6-figures? Want to know how much is 6-figures? We have answered everything in this post.
In their statistics report, Zippia mentions that around 33.6 percent of people in the United States of America make more than $100,000.
We can see that there is a considerable amount of the American population getting 6 figures.
The story does not end here.
It actually starts here. 15.3% of those people (33.6% making more than $100k) earn between $100,000 to $150,000. And shockingly, there are only 0.1% of people make more than a million every year.
Basically, we all should know how much 6-figures, 7-figures, 8-figures, and 9-figure income is.
So, let’s start!
What Is Meant by the Term Figure?
In general, a figure means a picture. That is what we use it for in general life. Though the word can be used in several ways, like the figure of a model, the figure of speech, 6 figures, and more.
Here we need to know that the meaning of the figure changes depending on the context in which we are using it.
The word “figure” in “6 figures” means numbers or digits.
When someone says that they earn six figures, it usually means that their salary amount is in six-digit numbers. For example, $100,000 to $999,999 is six figures.
The word “figure” is the same as “digits”.
- A one-digit number lies between 1 to 9.
- Two digits numbers lie between 10 to 99
- Three digits numbers lie between 100 to 999
- Four digits numbers lie between 1000 to 9999.
- Similarly, five digits numbers lie between 10,000 to 99,999
- Finally, six digits numbers lie between 100,000 to 999,999
So as we can see 6 digits numbers are similar to 6 figures.
So, 6 figures are 100,000 to 999,999, where figures represent digits or numbers.
How much is 6 figures?
Now comes the real question. It is something that you must know because you have a career to grow. And for that, you should have the knowledge and awareness about a six figures salary.
There is a reason behind this number: whoever earns 6 figures annually considers themselves lucky. This amount of money is considerable and remarkable.
I have given you a little bit of an idea about how much is six figures in money. Let me just tell you about it in detail.
The amount of money in 6 figures is from $100,000 to $999,999.
The term six figures are extensively used for annual salaries, but the thing is that there are several different ways to use this term for.
What are they?
So, this term 6-figures can also refer to an advertisement cost, an actor's one month's pay, a company’s per day income, and more.
You would notice the word 6 figure so many times in your career, and hopefully one day you would be able to make a good chunk of money to call yourself someone who earns a 6 figures salary.
Investment is one of the many ways to make 6 figures because you are creating a passive income.
There are both advantages and disadvantages to the same. If you could learn how to invest in companies and generate income for yourself, then you are good to go with your first six-figure income.
I would highly suggest that if you want to make six figures then you should focus on the degree that you are pursuing, the job that you are doing, the training programs for upskilling, or it could be your own business.
All these are certain examples of how you could make six figures per year.
6-Figures Income Jobs:
I feel like this is one of the most important questions that you should be asking because it is important to know the people who make 6 figures.
In this way, you would be able to know their traits and characteristics.
I have personally analyzed a lot of people who make six figures salary, which in turn has helped me to read their behavior, personalities, thinking abilities, career choices, business ideas, and more.
So, let me provide you with detailed information about who makes 6 figures.
In 2019, the number of Americans earning six figures was 9%. This statistic has increased to 33.6% in 2022.
The rise in the number of the population earning six figures salaries shows that America is being more aware of how to make six figures and who makes six figures.
I am going to provide you with a list of professionals who are well-known for making six figures salary. They are doctors, engineers, lawyers, businesspeople, dentists, software developers, creative designers, etc.
Did you notice something about all the above-mentioned professions? Yup! You are right. All these people making 6 figure salaries have professional degrees and have invested in their college lives.
Now, you must know how important school and college are for you. It could be boring and hectic at times, but at the end of the day, it's all worth doing it.
Trade school jobs are something that can create six figures of income for you. Entrepreneurs are other beings who are earning much more than 6-figures.
One thing to note is that you don’t need a college degree to make 6-figures for yourself.
Well, we have already talked about who makes six figures, but here we are going to take a look at all the professions individually.
I guess we all know how risky the job of a lawyer is. To complete a Law degree is also lengthy and expensive, so lawyers charge enough to make their 6-figure salary.
Average Income:: $122,960
In the United States, you can say that physicians earn a lot as they are one of the highest-paid traditional professions. They perform surgery, cardiology, radiology, etc.
Average Income: $243,000 (lowest-paid) and $622,201 (highest-paid)
3. Financial Managers
There are Multinational companies that have massive transactions circulating inside and outside their organizations.
Financial Managers help these MNCs to manage their cash flow. They help in decision-making and future predictions of demand and sales.
Financial Managers also focus on investing, project management, etc.
Average Income:: $134,180
Do you have a college degree? No! Okay, then don’t worry. You can still make 6-figures income and even much more than that.
Entrepreneurs who have successful businesses make much more than lawyers or physicians.
They create jobs and income for other people. If you think you have the potential to start a business, then you must because, with the right strategy, you would be able to create more than 6 figures of income.
There is no average income for entrepreneurs because their earnings vary over a wide range.
5 Software Developers
Today, there is a website for almost all the companies in the world. Guess who makes those websites? It's the Software Developers.
The software development skill set is one of the most required skills in today's high-end technological world.
They charge way too much for making a website, debugging, and rebuilding. Usually, software developers work as a freelancer which gives them immense projects and flexibility to work with.
Average Income: $110,140
Creating podcasts is one of the mainstream careers today. Hang out with your friends and talk about literally anything at all. Post these podcasts on social media and get views.
There are thousands of YouTubers making six figures because they have millions of subscribers and views in their videos.
The audience on YouTube is very engaging and interested in your content.
I have been using WordPress and other platforms for my blogs. And trust me when I say that it is way too beneficial to reach 6 figure income by just writing and interacting with the audience.
All I do is create some engaging and interesting content for my audience and that is how I get all my views.
9. Freelance Writers
There are several types of freelance writers available on the internet.
You would be surprised to know that some freelancers make six-figure incomes. If you want to be a freelance writer, then let me provide you with some tips and tricks.
You can choose a niche, do well research about the topics, write in an active voice, learn about SEO optimization, learn about how to write professional articles, etc.
10. E-commerce Store Owner
If you have an online business then you have a very extensive customer reach. You can connect with your customers without having a physical store.
The best thing in the entire business system to happen is the digitalization of business.
So much potential and opportunities are available for e-commerce store owners.
How To Reach 6-Figures?
Do you remember when I was talking about the characteristics of people who make 6 figures of income?
This is where I am going to talk about those traits and provide you with a set of qualities to ingrain in you so that you could make 6 figures.
If you are reading this article, then there is a high possibility that you might not be making six figures income.
Even if you are making six figures already then you can continue reading because this will help you increase your net worth and income in general.
Here are some must-have qualities to reach 6 figures:
- You should focus on the slow and steady growth of your career and income. Because something that is built slowly always becomes strong.
- A good point to note is to keep your customer debt as low as possible.
- Do not try to be pretentious and buy unnecessary things to please people because that is a big waste of money.
- Always have a budget plan and make sure that you stay within your budget while you are spending or investing.
- Savings are one of the most important things. It takes a lot of patience to save money.
- Although saving money is not enough. Investing that money into a profitable business is more important so that you can create passive income for yourself.
- You must calculate your monthly expenses properly and analyze them properly to keep them minimum.
- Do not buy or rent houses in expensive areas, rather choose an affordable and decent place to live.
If you have a 9 to 5 job, which is not helping you to reach 6 figures, then you must save some money from that job.
After saving some money, you can start a business, invest in companies, or get a side hustle for yourself.
I would highly suggest upskilling yourself while you are doing your job so that you can get a promotion to a higher position.
In case, your manager or company is not providing you with a remarkable salary for you to reach 6 figures, then you can apply for jobs in other organizations.
I hope that I have my points clear enough for you to understand. You can start implementing these slowly one by one.
If you are looking for some more advice, then I am here for it. Keep reading along.
When it comes to investment, it does not only mean in other companies. You should invest in yourself as well. Like investing in health and different courses. Make yourself happy and satisfied by rewarding yourself after you achieve a certain goal.
2. Under-Paid Employment
Never let go of what is yours. There is a huge number of employees who are underpaid. I would suggest that if you think that you are not being paid enough, then you must negotiate for your salary.
3. A 9 TO 5 Jobs
Make your 9 to 5 jobs as effective and efficient as possible. Learn from it for the future.
Do not hesitate to change the company that you are currently working in if you are not seeing any growth for yourself in that organization.
Reward yourself, appreciate your hard work, take proper rest, and be positive. You are gonna get a 6-figure salary.
These were some bonus tips and tricks. Make sure you follow these for self-improvement.
What Would a 6-Figure Lifestyle Look Like?
I can assure you one thing if you make six figures, it would significantly and entirely improve your lifestyle. The average wage per year of the U.S. is a little over $52,000.
As we can see, the average wage is almost half of the lowest six-figure income. If you're somewhere near the average income, then you might feel disappointed or doubtful about your income.
For a 6 figure salary person, your take-home salary might support a comfortable lifestyle for you even after taxes.
Many factors affect your expenditures, and they are as follows-
- The place you choose to live.
- The level of debt you are owing.
- The income tax that you need to pay yearly.
- Medical expenses or emergency conditions
- Number of family members
- How much do you buy clothes
- Your house decoration
- The car you have bought
One of the most important factors that decide your lifestyle is the place you live. So, the question is where can you afford to live efficiently with your six-figure salary?
The housing expenditures take up a huge amount of your 6 figure income. When I paid my mortgage, I had very little money left.
You can choose cities like New York, San Francisco, Honolulu, and Washington, D.C.
The best idea is to not spend too much on rent, rather you can choose a normal lifestyle over a lavish one. This will save you a huge amount.
It's crucial to remember that a low six-figure income will not significantly be favorable to your large home, your ideal vehicle, or expensive summer vacations.
How Much Is 7-Figures Numerically?
7-Figures refer to any figure between the numerical value of $1,000,000 and $9,999,999.99.
Not everyone can achieve a 7-figure income easily. You might need to do a lot of hard work to get 7-figure income and real commitment.
7-Figure Income Jobs
Here are the best jobs to make seven-figure income instantly:
- C-Level Executives: Most C-level executives include the CFO, CEO, CSO, and top-level chiefs in the company. Most of these executives make a huge income by running companies with higher revenues.
- Investment Banker: Investment Bankers are someone who works as financial advisor for a corporation, company, or government entity. Besides the salary, financial bankers also make money from various incentives and commissions.
- Enterprise Sales: Enterprise salespersons are responsible for handling complex, large-scale accounts and high-value contracts. However, most money made here is commission basis. So, you need to make a few sales to reach a seven-figure income.
How much is 8 figures?
Someone who makes between $10,000,000 to $99,999,999 is considered to make an 8-figure income. A person making an eight-figure income is said to be a multi-millionaire.
What jobs can make you an 8-figure income?
Only some percentage of professionals can reach an 8-figure income. If you are the owner of a big corporation, a celebrity, or a sportsperson, then you can reach an eight-figure income.
Here are some jobs that can make an 8-figure income:
- Fortune 500 CEOs
- Hedge Fund Manager.
- Influencer of Celebrity
- YouTubers & Bloggers
How much is 9 figures?
Nine figures income is basically the nine-digit. This income ranges from the value of $100,000,000 and $999,999,999.
A person making eight figures in income can make 9 figures by adding compensation, incentives, and various bonuses. In short, someone who makes 9 figures will have to make 273,962 every day!
9-Figures Income Jobs
Professionals who make in 9 figures are the ones that are involved in higher positions in large corporations. These include sportspersons, athletes, business professionals, movie producers, and others.
I hope that this article about 6 figures has helped you in every possible way.
You can decide which career path to choose, and what lifestyle to choose. I have also explained the steps to reach 6-figures of income and more.
You must analyze all the things to make a good decision for yourself and focus on your college degree. If you do not have a college degree, then you can opt to be an entrepreneur or freelancer.
Career options like physicians, software developers, and engineers are highly recommended for a secured and six-figure salary income.
Can someone make a 10-figure income?
Making a ten-figure income is hard and rare. Only a few individuals who have generational wealth or invest too much in stocks can reach ten figures. Business persons like Jeff Bezos, Bill Gates, Warren Buffet, and Mark Zuckerberg have reached ten-figure incomes.
Which persons make a 9-figure income?
Various celebrities and sportspersons who make nine figures in income are Tim Cook, Conor McGregor, Daniel Crag, Christiano Ronaldo, and Lionel Messi.
How much is 4 figures?
Part-time employees like college students and sem-retired persons who make between $1,000 and $9,999 a year are considered to make a 4-figure income.