How Much Is 6 Figures? 7 to 10 Figures Explained
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Six figures has almost become the universal standard for a good income or salary. Nowadays, everyone who drives a nice car or owns a lovely home probably makes a six-figure salary. For some, a business is only successful if it hits the six-figure mark.
But how much is 6 figures in money? Is it enough to earn you a decent living and a luxury lifestyle, or is it all hype? How about 7 figures, 8 figures, and 9 figures? What do these numbers mean, and how much money are we talking about exactly?
In this post, we’ll explore the meaning of 6-, 7-, 8-, and 9-figures. We’ll also give a quick rundown of the jobs that pay such figures. Let’s dive straight into it!
How Much Is 6 Figures in Money?
Income is typically quoted yearly, so when we talk about six figures, it’s an annual salary between $100,000 and $999,999. So earning a 6-figure salary means making at least $100,000 per year.
Six figures don’t just mean an annual salary of at least $100,000. It could also refer to your total income from all sources combined. This could include things like investments, rental properties, side hustles, and more. As long as your total income is between $100,000 and $999,999 per year, you make six figures.
Six figures can be broken down into:
Low range: $100,000 – $400,000
Mid range: $400,000 – $700,000
High range: $700,000 – $999,999.
$100,000 is undoubtedly a decent amount, but is it enough to earn you a luxurious life? How does it compare to the median wage if you break it down into monthly, weekly, and daily salaries? Well, let’s find out.
How Much Is 6 Figures an Hour?
Assuming you’re working 40 hours per week, the standard full-time workweek, a 6-figure salary equates to $48.08 per hour. This puts you above the median hourly wage of $10.95 in the United States.
In fact, with a 6-figure salary, you’re earning more than double the median hourly wage! If you can find ways to work fewer hours or increase your income to hit the 6-figure mark, you’ll probably be in a great financial position.
Of course, it’s not just about working fewer hours. With a 6-figure salary, you also have more disposable income, allowing you to save and invest for the future.
How Much Is 6 Figures a Day?
If we break six figures down even further, we get a daily salary of $385. This is just an average; your actual take-home pay will depend on things like taxes, 401(k) contributions, and other deductions.
But even after all deductions are taken into account, you’d still be left with a very healthy paycheck every day.
How Much Is 6 Figures a Week?
A six-figure salary translates to a weekly paycheck of $1,923. This is more than double the median weekly income in the U.S., which is $1,041. With a 6-figure salary, your weekly paycheck is almost double the amount of the average American’s paycheck.
Such weekly income gives you certain financial privileges like being able to save money, invest, and live a generally more comfortable life. You’ll also get more access to loans, credit, and other financial products to help you grow your wealth even further.
How Much Is 6 Figures Biweekly?
A 6-figure salary equals a biweekly salary of $3,846, working 40 hours a week. If you make a 6-figure salary, you can expect a $3,846 paycheck every two weeks.
This is more than the median biweekly income in the U.S., which is $2082. With such an income, your paycheck is almost double the average American’s biweekly paycheck.
How Much Is 6 Figures a Month?
If you work 40 hours a week, which translates to 160 hours a month, your monthly paycheck for a six-figure salary of $100k a year will be $7,693. Such a paycheck is way above th median monthly income in the U.S., which is $6,228.
How Much Is 6 Figures Annually?
Finally, a 6-figure salary equals an annual salary of at least $100,000. This puts you in a pay grade higher than 66% of Americans since only about 34% of households earn $100k and above yearly.
With a six-figure salary, you’re officially among the top wage earners in the U.S., giving you many privileges that come with that status. You’ll be able to afford a comfortable lifestyle, save more money, invest for the future, and enjoy other benefits of being financially stable. But all this depends on where you live 一 some locations have a higher cost of living than others.
So if you’re looking to make six figures, it’s achievable, provided that you’re willing to work hard and put in the effort. There are lots of ways to make six figures, and it’s something worth shooting for!
Professions That Pay 6 Figure Salaries
Here are some of the professions that pay six-figure salaries, according to the U.S. Bureau of Labor Statistics.
Professions in the medical field indeed earn the highest median Salary. An anaesthesiologist’s or anesthetist’s job is to ensure that patients undergoing surgery remain pain-free and comfortable. They also need to monitor the patient’s vital signs during surgery.
To become an anaesthesiologist, you need a bachelor’s degree and pass a licensure exam. The median wage for anesthesiologists is $208,000 annually.
Dentists are responsible for diagnosing, treating, and preventing oral health issues. They need excellent interpersonal skills as they’ll be working with patients regularly. These professionals make 6-figure salaries, and the median wage is $163,220 annually.
Petroleum engineers are responsible for designing and developing methods for extracting oil and gas from deposits below the earth’s surface. They also need to find ways to minimize the environmental impact of these activities.
To become a petroleum engineer, you need a bachelor’s degree in petroleum engineering or a related field. The average annual salary for a petroleum engineer in the U.S. is $130,850.
IT managers oversee the work of an organization’s information technology (IT) department. They ensure all IT systems are running smoothly and efficiently. The median salary for IT managers in 2021 stood at $159,010 per year.
Other professions that make six figures a year include:
- Physicians and surgeons
- Airline pilots
- Software developers
- Human resource managers
How to Earn a 6-Figure Salary
Like anything else in life, you must put in the work to earn six figures. Here are five tips to help you achieve your financial goals faster.
1. Evaluate Yourself
Earning any amount of income starts with you. Determine what you’re currently good at or passionate about and pursue the goal. Also, consider your strengths and weaknesses because they may impact your career path.
2. Get the Necessary Training
Once you’ve determined the career to pursue, it’s time to get the necessary training. It may take a few months or years to complete the training depending on your chosen occupation.
Most high-paying jobs require a bachelor’s or master’s degree, meaning you’ll need to attend university or college. But if you already have a bachelor’s degree, you may only need specialized training.
3. Build a Robust Professional Network
The adage, “your network is your networth,” holds true in nearly every aspect of life. Building a solid network will not only help you increase your chances of landing a high-paying job but also connect you with like-minded people in your field.
In a fast-paced, competitive world, learning a new skill is no exception, as it’s necessary to get ahead of the competition. Top earners typically have unique skills that others don’t or haven’t mastered well. Mastering new skills or getting specialized training in your field can offer several opportunities, including negotiating higher pay.
5. Add More Income Streams
Relying on one income stream is not a good idea, especially if you want to earn six figures or more. Taking on a side hustle or turning your hobbies into money-making opportunities can help you rake in more money over time. If you have no idea where to get started, consider leveraging your talent or skills to earn extra cash on the side.
How Much Is 7 Figures in Money?
A 6-figure salary is impressive, but a seven-figure wage is even more. After all, only a few people can say that they make seven figures a year. So how much is seven figures in money?
A seven-figure salary means you make between $1,000,000 and $9,999,999 yearly, putting you among the top wage earners in the U.S.
Jobs That Pay 7 Figures a Year
Here are a few professions that make seven figures
- Corporate lawyer
- Business owner
- Investment banker
- Sales executive
- Lifestyle influencer
How Much Is 8 Figures in Money?
An eight-figure salary is even rarer than a seven-figure salary. Very few people worldwide can say they make eight figures a year. So how much is eight figures in money?
An eight-figure salary means you’re making between $10,000,000 and $99,999,999 per year. That means your yearly wage is in the tens of millions of dollars.
Jobs That Pay 8 Figures a Year
Here are professions that pay eight figures annually.
NBA players rake in millions of dollars per year, but players in the top leagues make tens of millions of dollars. For example, Stephen Curry will earn about $48.07 million in the 2022/2023 season.
While some musicians earn millions of dollars annually, the big names in the industry earn tens of millions. For example, Taylor Swift earned $80 million in 2021.
Other careers that make eight figures include:
- World-class athletes
- Hollywood actors
How Much Is 9 Figures in Money?
If you thought an 8-figure salary was something, wait till you hear about nine figures. A nine-figure salary is even rarer than an eight-figure salary. Very few people make nine figures a year.
So how much is 9 figures in money? A nine-figure salary means you’re making between $100,000,000 and $999,999,999 per year. That means your yearly pay is in the hundreds of millions of dollars.
Jobs That Pay 9 Figures a Year
Only a handful of jobs in the world pay nine figures a year. Here are a few examples:
Pop Star or Musician
One of the most common ways to make a nine-figure salary is by being a pop star or musician. Many celebrity musicians earn millions annually. Bruce Springsteen, for instance, sold his entire music catalog, including his masters, for a whopping $500 million in 2021.
Another way to make a nine-figure salary is by being the CEO of a major corporation. For example, Stephen Schwarzman, the CEO of Blackstone, pocketed about $610.5 million in 2020 alone.
You can also hit the 9-figure mark by becoming an A-list Hollywood movie star. Several movie stars earn millions per year, but top earners get hundreds of millions of dollars. For example, Tom Cruise earned a staggering $100 million for his role as LT Pete “Maverick” Mitchell.
Tech Company CEO
One final way to make a nine-figure salary is by being the CEO of a major tech company. Many tech CEOs earn millions of dollars per year. However, getting hundreds of millions of dollars isn’t uncommon for those in the upper percentiles.
For example, Patrick Gelsinger, the CEO of Intel, earned $178,590,400 in 2021 alone.
How Much Is 10 Figures in Money?
A ten-figure salary is an elusive dream for most people. In fact, very few people in the world make 10 figures a year. So how much is 10 figures in money?
A 10-figure salary means you’re making anywhere between $1,000,000,000 to $9,999,999,999 per year. This puts you in the billionaire class with Jeff Bezos, George Soros, and the likes.
Jobs That Pay 10 Figures a Year
Only a few jobs can pay a hefty one billion dollars or more yearly. One has to be very dynamic to earn a 10-figure salary. That said, here are a few careers that pay billion of dollars every year.
Real Estate Developer
One of the most popular ways to make a 10-figure salary is by being a real estate developer. Many real estate developers earn billions of dollars per year. Depending on the market, real estate moguls have the potential to make a serious killing.
For example, Donald Trump earned about $427 million from his real estate businesses in 2020. Also, Donald Bren, the real estate mogul, has a net worth of approximately $17 billion, earning him a spot on Forbes’ billionaire list.
Tech Giant CEO
Being the CEO of a major tech company means raking in billions of dollars every year, with some even earning hundreds of billions of dollars. For example, Jeff Bezos, the CEO of Amazon, earned about $200 billion in 2021 alone.
Six figures is a decent amount of money. But it’s not the only kind of money out there. If you want to make more money, you’ll need to aim for a higher figure. 7-, 8-, and 9- figures are all possible if you put in the effort.
Who knows, you might even be able to make a ten-figure salary one day. Shoot for the stars. So if you fall, you’ll land on the moon.
Don’t forget that no matter how much money you make, always be grateful for what you have. So, enjoy the simple things in life as you strive for financial success.