How much is 6 figures? In today’s economy, many people are asking themselves “What does a 6 figure income look like?”
Things are getting more expensive and wages have remained stagnant for over a decade. It’s becoming a reality that to live a comfortable life, a 6 figure salary might be the new standard.
Compared to what many people make, a six figures salary is a lot of money. But does a 6-figure salary make you “rich”? How much money it takes to be considered “rich” depends on where you live and what type of lifestyle you want.
According to Statista, 34.1% of Americans made over $100k in 2019. That’s a significant increase from the 28.0% of Americans that made over $100k in 2018. But it still falls short of the 40.0% mark achieved in 2007 before the recession hit.
According to the 2019 Household Income Index those who are “rich” by society’s standards, make about $250k.
But is that type of lifestyle possible for someone who makes a six-figure salary? The answer might surprise you!
You have to take your geographic location into consideration. The yearly income you need to be “rich” your geographic location matters.
Someone who makes a six-figure salary living in San Francisco might not feel as wealthy compared to someone making the same in Florida. Why? Because that high cost of living will eat up more of your paycheck than it would if you lived somewhere else.
But even people who make six figures can struggle financially. Why? They either don’t manage their money well or as their income increases so do their expenses. This is called lifestyle creep.
Also you have to remember making six figures does not mean your take-home pay is six figures. Again, depending on where you live and tax laws, the $100k is more like $75,000 after taxes.
Here’s an income tax calculator for you to figure out how much do you have to make to take home six figures per year.
Table of Contents
How much is a figure?
A figure is a single digit or single number that ranges from 0 to 9. For example, the number 132 has three figures: 1, 3, 2.
How much is 6 figures?
Six figures is any amount between $100,000 and $999,999. So when someone says they earn a six-figure salary, it means they make at least $100,000 and could be making up to $999,999 per year.
What types of jobs make six figures per year?
According to the US Bureau of Labor Statistics, these are the top 20 highest paying jobs (median salary):
Psychiatrists: more than or equal to $208,000 per year
Oral surgeons: more than or equal to $208,000 per year
Obstetricians and Gynecologists: more than or equal to $208,000 per year
General internal medicine physicians: more than or equal to $208,000 per year
Surgeons: more than or equal to $208,000 per year
Anesthesiologists: more than or equal to $208,000 per year
Prosthodontists: more than or equal to $208,000 per year
Orthodontists: more than or equal to $208,000 per year
All other physicians except pediatrics: $207,380 per year
Chief Executives (CEO, CFO, CIO): $185,950 per year
Nurse anesthetists: $183,580 per year
Dentists (specialists): $183,300 per year
Pediatricians: $177,130 per year
Airline pilots & flight engineers: $160,970, per year
Dentists (general): $158,940 per year
Computer and information systems managers: $151,150 per year
Architectural and engineering managers: $149,530 per year
Marketing managers: $142,170 per year
Judges & magistrates: $141,080 per year
Commercial pilot
Petroleum Engineer
Construction manager
Software developer
Financial managers
It’s no surprise that more than half of the jobs on this list consist of medical professionals or highly trained professionals and rightfully so, given the number of years of schooling they go through.
But can you still make a six-figure income without having a college degree? Of course!
What jobs pay six figures without a degree?
Software engineers
Web Developer
Air Traffic Controller
Virtual Assistant
Social media influencer
YouTuber
Real Estate Broker
Sales Consultant
Bloggers
Entrepreneur/ Business owners
Freelancer
Not everyone who does these jobs makes six figures right off the bat. Years of experience will determine your salary range. But with hard work, integrity, and persistence a six-figure annual income more than achievable.
How to make 6 figures?
There are many different ways to make a six-figure salary, but the best way is to aim for six-figure salary jobs. In this unsettled economy, everyone has to be willing to change careers & or be open to taking on new roles in order to stay ahead. It often requires discipline, but staying resilient through difficult times is what people who can make 6 figures are made of.
If you want to make 6 figures and you’re willing to do the work, here are some ideas to get you started:
- Get a high-paying job that uses your strengths
- Start a side hustle
- Start investing
How much is 7 figures?
Seven figures can be anywhere between $1,000,000 (one million) up to $9,999,999.
What jobs make 7 figures per year?
Many of the jobs that are in this income bracket are not traditional, or trade jobs. The people that usually make this type of money are in the finance and entertainment fields or is an executive at a large corporation.
These are some examples of 7 figure jobs:
Professional Athletes
Actors & Actresses
Rappers & Musicians
Entrepreneurs
Chief Executive Officers (CEOs) of large corporations
Stockbrokers
Real Estate Investors
Bloggers
YouTubers
Social Media Influencers
How much is 8 figures?
Eight figures range anywhere from $10,000,000 (ten million) up to 99,999,999.
What jobs make 8 figures?
An eight-figure salary is significantly more income than a six or seven-figure salary. It is very rare that you will personally know anyone in this income bracket since it’s more than likely super famous people like movie stars, those who play professional sports or incredibly business-savvy individuals.
These are examples of 8 figure jobs:
Professional athletes e.g. Lebron James’ annual salary is over $39 million per year and Lewis Hamilton, a professional racecar driver earns over $40 million per year.
Chief Executive Officers (CEOs)
Actors & Actresses
Software company founders/owners
How much is 9 figures?
Nine figures is anywhere from $100,000,000 (one hundred million) but not more than one billion. There are definitely no regularjobs that pay this type of salary but do some people actually earn 9 figures per year? The answer is yes!
Who makes 9 figures?
Business & Media executives: Tyler Perry
Professional Athletes: Roger Federer, Cristiano Ronaldo
Entertainers: Taylor Swift
Jeff Bezos
Bill Gates
Conclusion
This post has given you a general idea of what 6, 7, 8, and9 figure salaries look like. If your financial goals are to reach the million-dollar mark in salary and increase your net worth before retirement age, why not work on getting there?
It can be hard to wrap your head around what 6, 7, 8,9, or 10 figures mean. Remember that success doesn’t happen overnight – but if you are persistent enough and have the right attitude toward life, anything is possible. What do you think?
Can you see yourself earning $1-2 million or more per year in your future career path? Let us know below!
Read more: How to Make $1000 Fast
