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A detailed explanation on how much is 6 figures, how much is 7 figures, how much is 8 figures and more.
Have you heard phrases like ‘my husband makes 6 figures‘ or ‘I really want to start earning a 6 figure income‘ and wondered how much is 6 figures really?
If you’re wondering what’s 6 figures, what is 7 figures or even what is an 8 figure salary, I’ll break it down in the simplest way for you to understand. Don’t worry. I’m a high school Math teacher and this is what I do every day. I gotcha.
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Let’s get started from the basics.
What is a figure?
A figure is really any single number or a digit. So examples of figures can be 0, or 1, or 2 (or 3, 4, 5, 6, 7, 8 or 9).
Let’s look at some other examples.
1. The number 10 has two digits (1 and 0) so this is an example of 2 figures.
2. The number 609 has three digits (6, 0 and 9) so this is an example of 3 figures.
3. The number 7814 has four digits (7, 8, 1 and 4) so this is an example of 4 figures.
4. The number 83021 has five digits (8, 3, 0, 2 and 1) so this is an example of 5 figures.
Six Figures Meaning
How much is 6 figures?
Six figures means that the number has 6 digits in it. Hence, this can be anything from 100 000 to 999 999. 100 000 is the smallest 6 figure number that exists and 999 999 is the largest 6 figure number that exists.
Any number that lies between these two numbers are all considered to be 6 figures because all of these will have exactly 6 digits.
How much is a 6 figure salary?
Now that we know which numbers are 6 figures, it’s pretty simple to understand how much is a 6 figure salary. A six figure salary is anything from $100 000 to $999 999. Any salary that lies within this range is a 6 figure income.
It’s important to note that this income is PER YEAR. Usually when someone says that they make 6 figures, they are referring to the income that they make annually. This can mean that they make $100 000 per year, $999 999 per year, or any number in between per year.
See how vague the term ‘making 6 figures‘ is? Two persons in a 6 figure income bracket can have salaries with a vast difference. For example one may be making $125 000 whilst the other makes $995 000. They are both ‘making 6 figures’ but Person B makes a whopping $870 000 MORE THAN Person A, per year.
Is a 6 figure salary good?
A 6 figure salary is good but would depend on factors such as your family size, your lifestyle and where you live. For example $100 000 can do way more for you in Texas than it can in New York because of the cost of living. And someone with a family of 3 can live more comfortably on $100 000 than someone who lives with a large family.
Similarly, one person may have a mountain of debt to pay at the end of each month, while the other may be completely debt free.
A 6 figure salary is extremely good (especially when you realize that just 9% of Americans are earning $100 000 or more, according to Yahoo Finance) but really, it depends. In fact, this Willis Tower Watson survey showed that 18% of employees who made more than $100 000 were living paycheck to paycheck!
What percentage of Americans make 6 figures or more per year?
FAQ – How much is 6 figures monthly?
Since, 6 figure incomes are based on how much money is earned per year, to calculate the monthly salary, you’d have to divide the yearly income by 12. So a salary of $100 000 per year will be $8333.33 per month, and a salary of $999 999 per year would be $83 333.25 per month.
6 figure salary jobs
So what types of jobs can you get to earn a six figure income? Here’s a list to choose from:
- Actuary – This is someone who deals with assessing and managing risk and uncertainty.
- Doctor – How much a doctor is paid will depend on what field he/she specialized in.
- Engineer – How much an engineer makes will depend on his/her field, the company that they work for and how many hours they put in.
- Software Developer
What are some 6 figure jobs that don’t require a degree?
If you don’t have a college degree, don’t worry, it is still totally possible to make 6 figures!
Here are some 6 figure income jobs that don’t require a degree.
Many people like Michelle from Making Sense of Cents and Paul Scrivens (who has numerous blogs) make 6 figure and 7 figure incomes from their blogs. (I hope to be there one day.)
I’m not saying that they don’t have degrees. What I’m saying instead is that you don’t need any qualifications or requirements to start a blog. You just need to put in the work to make it happen.
If you want to learn more, check out my step by step tutorial on how to start a money making blog.
You can make 6 figures with any business once you put the sweat an hours into it. This can be anything from an online clothing store, to a coffee shop to an air condition business.
Remember that opening a business is a risk so make sure you do your market research and analysis to see if your business has a god chance of being profitable.
Many YouTubers these days make millions of dollars from creating video content, and several of them do not have college degrees.
FAQ – Are people who make a 6 figure income rich?
As mentioned earlier, this would depend on their family size, lifestyle or where they live. Generally to be considered rich, you’d need a net worth of at least $2.3 million. And for those who are still working, you’d need to be making $300 000 or more to be considered rich.
FAQ – What does the ‘K’ at the end of a number mean? So how much is $125K exactly?
‘K’ is short for thousand. It is short for the word ‘kilo’ which means thousand. So ‘kilo’ is abbreviated as k or K. The letter ‘K’ replaces three zeros in a number (000) so $125K is really $125 000. And $567K is really $567 000.
How much is a figure and how does it relate to money?
Remember when we did number placements back in school? And the columns were named like this?
Right. Well how much is a figure and how much money is a figure will depend on where it is placed within a number. It depends on which column it falls under.
Let’s look at the examples below.
1. In the number 5 043, the figure 5 is worth $5000 because it falls under the ‘Thousands‘ column.
2. In the number 751, the figure 5 is worth $50 because it falls under the ‘Tens‘ column.
3. In the number 8 435, the figure 5 is worth $5 because it falls under the ‘Ones‘ column.
Basically the same exact figure can be worth different amounts of money depending on where it falls within the number. Understand?
Since we’re relating figures to money:
I must touch on the point that ‘figures’ that represent ‘cents’ don’t count when we’re referring to a 6 figure income, 7 figure income and so on. I feel like this is probably obvious but I still need to mention it.
So someone whose annual salary is $30 765.12 DOES NOT make a 7 figure income! The two figures (1 and 2) that fall within the cents category does not count towards the number of figures that the person makes. In this case, only the $30 765 would count, so this person makes a 5 figure income.
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7 Figures Meaning
How much is 7 figures?
A 7 figure number is a number with 7 digits. A 7 figure income ranges from $1 000 000 (read as 1 million) to $9 999 999. People who make this are making millions of dollars per year and are considered to be millionaires.
7 figure jobs
- Business Owners
- Social Media Influencers
- Movie Stars
- Fashion Designers
You’ll notice that some of the 6 figure jobs are repeated as 7 figure jobs as well (e.g. bloggers and YouTubers). This is because these jobs can fall into either income bracket. It really just depends on how much time and work that you put in.
Examples of people who earn 7 figure incomes
Michelle Schroeder-Gardner from Making Sense of Cents is one of those bloggers who make 7 figures per year. In fact, Michelle makes 6 figures on a monthly basis!
Listen to Michelle’s story and learn how to build a million dollar blog in your 20’s!
FAQ – What can I do to earn a 6 figure income or 7 figure income?
To earn a 6 figure or 7 figure income, you can start by trying to create several income streams. This means that you should start a side business and work on this before and after your regular 9-5 job. You can also do extra side hustles in your free time such as delivering food, online tutoring, starting a blog and taking surveys. You can also create a product and do proper marketing to sell online. This can be an ebook, a digital course or physical product to sell on Amazon.
8 Figures Meaning
How much is 8 figures?
An 8 figure number is a number with 8 digits. An 8 figure income ranges from $10 000 000 (read as 10 million) to $99 999 999. People who earn 8 figures are called millionaires or multi millionaires.
8 figure salary jobs
- Movie Stars
- Hedge Fund Managers
Examples of people who earn 8 figure incomes
-Mark Fischbach (aka Markiplier), one of the highest paid YouTubers makes an 8 figure income. He makes around $17.5 ($17 500 000) million per year!
-Ryan from Ryan’s Toy Review is another YouTuber who makes an 8 figure income. Seven year old Ryan, made a whopping $22 million ($22 000 000) from his YouTube channel back in 2018!
Highest Paid Actors of 2019 according to Forbes:
Dwayne Johnson – $89.4 million ($89 400 000)
Chris Hemsworth – $76.4 million ($76 400 000)
Robert Downey Jr – $66 million ($66 000 000)
Highest Paid Actresses of 2019 according to Forbes:
Scarlett Johansson – $56 million ($56 000 000)
Sofia Vergara – $44.1 million ($44 100 000)
Reese Witherspoon – $35 million ($35 000 000)
9 Figures Meaning
How much is 9 figures?
A 9 figure number is a number with 9 digits. A 9 figure income ranges from $100 000 000 (1 hundred million) to $999 999 999.
9 figure salary jobs
- Movie Stars
- Hedge Fund Managers
People who earn 9 figure incomes
Very few people in the US make 9 figures or more. According to Market Watch, only 205 people in America earn more than $50 000 000 a year in wages alone. $100 000 000 (the start of the 9 figure income bracket) is TWICE this amount, and so, the number of people earning a 9 figure income, would be even lower!
Highest Paid Athletes in the world (2019) according to Forbes:
Roger Federer (Tennis Player) – $106.3 million ($106 300 000)
Cristiano Ronaldo (Soccer Player) – $105 million ($105 000 000)
Lionel Messi (Soccer Player) – $104 million ($104 000 000)
10 Figures and More
How much is 10 figures?
A 10 figure number is a number with 10 digits. A 10 figure income ranges from $1 000 000 000 (read as 1 billion) to $9 999 999 999. People who make this are making billions of dollars per year and are considered to be billionaires.
Examples of people who earn 10 figures or more
Some of America’s richest people are billionaires and they include names such as:
– Jeff Bezos (founder and CEO of Amazon – net worth of $145 billion)
– Bill Gates (co-founder of Microsoft Corporation – net worth of $106 billion)
– Warren Buffett (chairman and CEO of Berkshire Hathaway – net worth of $80.8 billion)
– Mark Zuckerburg (co-founder and CEO of Facebook – net worth of $69.6 billion)
People who earn 10 figures or more are among the wealthiest and most influential in the world!
Related Posts on How Much is 6 Figures
Now that you know how much is six figures,
you’ll never have to be confused when someone mentions that their hubby/wife/son/daughter makes a (insert whatever number) figure income. And if someone asks you how much is 6 figures, you’ll have no problems explaining!
Do you have any other additional questions on six figures meaning or how much money is six figures? Share with us in the comments below. I’d love to hear from you!
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