How Much is 6 Figures (Plus 7 Figures, 8 Figures, and 9 Figures)?
It’s not as hard as you think to make a six figure income. It sounds unreachable and like a salary only celebrities and business owners earn, but you may be surprised to learn just how many people make at least $100,000 per year.
Check out what 6 figures looks like and how you can get there with your income or net worth too.
How Much is 6 Figures
6 figures – it’s a number we all strive for when looking for a job or planning a career, but what does it really mean? How much do you have to earn to say you make six figures?
In short, it’s a salary between $100,000 and $999,999. Many see a six-figure salary as a benchmark for a good income, especially as it provides flexibility and stability.
Some people break it down further:
- Low – $100,000 – $399,999
- Mid – $400,000 – $699,999
- High – $700,000 – $999,999
Most people are thrilled to say they earn a six-figure salary, regardless of where they fall in these categories. Even a low six-figure income is something to celebrate and build on.
Even if you don’t yet earn six figures, anyone can grow their net worth to this level. Owning a home, investing wisely, and saving consistently can help build up assets and create long-term wealth. The key is paying off debt, acquiring valuable assets, and planning for the future.
What Does 6 Figures Mean?
Six figures means you earn an annual income between $100,000 and $999,999. It’s more than just a number for many people – it represents a level of financial success. Saying, “I make six figures” often holds more impact than a lower number like “I make $75,000.”
And remember, it’s not just about income. Having a six-figure net worth can be a great financial milestone, too. A net worth near $999,999 means you’re close to a million-dollar status, a figure many aspire to reach in their lifetime.
How Much Is 6 Figures?
A six-figure income means you make anywhere from $100,000 to $999,999. To calculate how much that is per month, divide by 12. For example:
- $150,000 annually = $12,500 per month.
- $850,000 annually = $70,833 per month.
These monthly breakdowns show that while anyone who makes $100,000 – $999,999 can say they have a six figure salary, there’s a tremendous difference between making $100,000 per year and $999,999 per year.
6 Jobs that Pay 6 Figures
If you’re just starting out or seeking a higher paying career, knowing what roles typically offer six-figure salaries can be helpful.
Here are some jobs that pay 6 figures:
1. Actuary
For those who love numbers and statistics, becoming an actuary is an excellent choice. Actuaries have median salaries of $120,000 annually, providing a solid path toward a six-figure salary.
2. Dentist
All that time spent in dental school pays off with the six figure salary dentists earn. On average, dentists make $170,910 per year.
3. Surgeon
Medical school is expensive, but it pays off for surgeons in any specialty. On average, surgeons make $239,200 per year.
4. Computer and Information Research Scientists
Computer and Information Research Scientists work in many industries, solving complex problems with technology. They make an average of $145,080 per year.
5. Software Developer
Software developers work on software applications and create apps. As software continues to drive innovation, software developers are in demand, with an average annual income of $130,160 per year.
6. Physician Assistant
A physician assistant works alongside doctors, surgeons, and other medical professionals. They need at least a master’s degree but less schooling than a doctor. Physician Assistants make an average of $130,020 per year.
Finances and Lifestyle On a Six-Figure Salary
A six-figure income is a great income. There’s no doubt about it, but how far it gets you depends on your lifestyle and where you live. For instance, living in high-cost areas like San Francisco or Honolulu might mean your six-figure salary won’t go as far as it would in more affordable places. In some parts of the United States, a six-figure income is barely considered middle class due to high living costs.
For example, in San Francisco, a ‘low income’ is considered $117,000 for a family of 4, but in Denver, CO, it would be considered a good living as the average 4-person family makes $68,000.
Beyond your location, how you handle your finances also matters. You could have a six figure annual salary, but if you live beyond your means, taking on a mortgage that takes up most of your income, or you are in credit card debt, you may not have as much money saved as someone who lives a frugal lifestyle or at least within their means.
The Bureau of Labor Statistics (BLS) highlights variations in household incomes across different regions, demonstrating the importance of managing finances wisely. Living within your means, saving, and investing can make a six-figure salary a sustainable foundation for long-term wealth.
Just because you have a 6 figure income doesn’t mean you must spend that much. No one has to know how much you make, so don’t think you have to have the fanciest car or the biggest house your money can buy. The money you make today should support you in the future too, and the more money you can save today, the more it will be worth tomorrow.
What Is 7 Figures?
While a six-figure salary is impressive, a seven-figure salary signifies millionaire status. Careers that provide this income level often require specialized skills, leadership, or industry expertise.
Like the six figure income, 7 figures can vary widely, but if you fall within the 7 figure category, you’re likely doing pretty well for yourself.
What Does 7 Figures Mean?
7 figures refers to an annual salary that’s above $999,999 per year, or at least $1 million. People who make 7 figures have income in the millions. Many who make this income are executives, high-level consultants, or successful business owners.
How Much Is 7 Figures?
A 7 figure income is any income from $1,000,0000 to $9,999,999 annually. There aren’t as many jobs that pay this high of an annual salary, but there are some.
High paying jobs like executive roles in major corporations, top investment bankers, and consultants fall into this category. It’s achievable but typically requires a strategic career approach or entrepreneurial ventures.
You can have a 7 figure net worth without having a 7 figure income, though. If you know how to invest, start early, and stay consistent, you can learn how to earn 7 figures on your own, too, because any portfolio can reach this number. Many people aspire to achieve a 7 figure net worth by the time they retire. $1 million is often the ‘targeted number’ for retirement, even though the number you need varies based on your lifestyle, debts, and medical needs.
5 Jobs that Pay 7 Figures
1. Enterprise Sales
Enterprise salespeople sell high-value products to businesses. They don’t typically start off making a 7 or even 6-figure salary, but hard-working individuals may work their way up to making $1 million or more.
2. Investment Banker
Investment bankers work on a salary, which is usually a six figure income, but their potential for bonuses is sky-high, allowing them to earn 7-figure incomes.
3. Consultant
Consultants are often experts in their industry and can sell their services at much higher prices. Consultants usually either worked in the industry for a company for a long time or had success owning their own business and now want to share their expertise with others. In addition, consultants with an excellent track record often make a 7 figure income.
4. Influencer
It sounds crazy, but social media influencers who partner with large brands or create and sell their own digital products can earn a 7 figure salary. For some, one viral post can bring in six figures, leading influencers to earn a 7 figure income quickly.
5. CEO
CEOs of large companies (well-known corporations) have a large job on their shoulders and are paid well to do it. Many CEOs of the most prominent organizations earn over $1 million per year, plus stock options.
Finances and Lifestyle On a Seven Figure Salary
A seven-figure salary can provide a luxurious lifestyle, but like any amount of money, you must handle it properly.
People who have a 7 figure income can live a 7 figure lifestyle if they spend their money mindfully. It’s still easy to live outside your means to ‘show off’ that you are a millionaire.
Instead, it’s better to live a decent lifestyle and invest/save money just like everyone else, because as we all know, life can change in an instant.
If you have a seven figure salary, consider an aggressive investment portfolio, so you can continue to grow your wealth and maybe even retire early, enjoying your golden years long before age 65.
What Is 8 Figures?
An eight-figure salary is much less common than six or seven figure incomes and often associated with the highest-level executives, business moguls, and celebrities.
Most people have never seen 8 figures, but there are some jobs out there paying this much money. Most people earning an 8 figure income work at the highest position in their company or own the company.
What Does 8 Figures Mean?
An 8 figure salary refers to making over $9,999,999 per year. Most people in this category either own their own company, play a professional sport, or are celebrities.
How Much Is 8 Figures?
An 8 figure income starts at $10,000,000 and goes up to $99,999,999. Anyone who earns 8 figures or has an 8 figure net worth is considered a multi-millionaire.
Achieving this level of wealth often requires entrepreneurship, high-profile celebrity status, or exceptional achievements in fields like sports and entertainment.
3 Jobs that Pay 8 Figures
When we talk about 8 figure salaries, we’re mostly talking about celebrities, but not just the celebrities you see on TV or the big screen. Particular Instagram and YouTube stars have reached this level too. Here are a few jobs that pay 8 figures.
1. CEO
Even though CEO was in our 7-figure salary category, CEOs of global corporations can earn eight figures. For example, Bog Iger, CEO of Disney, had a $47.5 million payment package in 2019.
2. Actors
Some actors make millions per movie, reaching annual eight-figure salaries. Johnny Dep and Dwayne Johnson are among the highest paid actors, each earning an 8 figure salary.
3. Professional Athletes
Some professional athletes (the best of the best) earn an 8 figure income. Roger Federer and Russel Wilson are at the top of this list.
Finances and Lifestyle On an Eight Figure Salary
People with eight-figure incomes can afford a high-end lifestyle but may still need to balance spending with investments to avoid financial challenges.
Granted, anyone with a salary over $9,999,999 can have a luxurious lifestyle. It’s not as common for someone with an 8 figure income to struggle financially. Most live a lavish lifestyle and consider themselves to be doing well in life.
What Is 9 Figures?
The elite tier of income earners, those with nine-figure salaries, typically includes billionaires, top-tier executives, or extremely high-earning entrepreneurs. Less than 1% of the population gets to this point.
What Does 9 Figures Mean?
Most people will never see a 9 figure salary. It’s above even what the top paid actors and professional athletes earn, but there’s always a possibility.
How Much Is 9 Figures?
A 9 figure salary is any salary between $100 million and $999 million, or any salary over $100 million and under $1 billion.
2 Jobs that Pay 9 Figures
It’s hard to think of any job that would earn 9 figures, but several well-known celebrities and elite business owners have managed to do so. Here are some jobs that pay 9 figures.
1. CEOs or Business Owners
Business owners like Jeff Bezos, founder of Amazon, make 9 figures. Although some argue that Jeff Bezos makes billions of dollars, that figure usually includes the company stock, not his actual income.
2. Athletes
A select few athletes, like Cristiano Ronaldo, have reached the $100 million mark.
Finances and Lifestyle On a Nine Figure Salary
People who have a nine figure salary truly live the most lavish lifestyle. However, they must remain diligent to avoid financial pitfalls.
How to Build Wealth Without 6 Figures, 7 Figures, 8 Figures, or 9 Figures
Wealth and income don’t go hand-in-hand. You don’t need a high-paying salary to build wealth. You can have a 5-figure income and build wealth just as much as someone with 6, 7, 8, or 9 figure income.
With financial discipline, savings, and strategic investments, even lower-income earners can accumulate wealth over time.
The key is to start early. Whether you make 5 or 9 figures, if you don’t invest or save early on, your money doesn’t have time to grow or compound. The more time you give your investments to earn money, the more likely you are to build wealth.
That being said, someone with a 9 figure income would be able to catch up much faster than someone with a 5-figure income, even if they started late. But, the key is to invest early and let your earnings grow.
Here are a few top ways to build wealth, no matter your income:
- Lower your living expenses – We’re all programmed to live up to our salary, but you won’t build wealth that way. You don’t need the fanciest car your money can buy or the biggest house. Buy what will meet your family’s needs, but don’t go overboard. Minimize costs and avoid debt.
- Don’t use credit cards – Getting into credit card debt only eats at your ability to save and invest. Living within your means should avoid the need to use credit cards. If you get into high-interest debt, create a plan to get out of it (and stay out) quickly.
- Invest early – Invest as soon as you start earning income. Work your way up to saving at least 20% of your income.
- Diversify your portfolio – Consider a range of investments. Don’t put all your eggs in one basket. Invest in stocks, bonds, real estate, and other commodities. Don’t forget to invest in yourself too. Always level up, whether with education, training, or learning how to climb the corporate ladder.
- Start your own business – Build an additional income stream and create a business that removes any income ceiling and allows you to achieve 6, 7, or 8 figure income levels.
Is a 6 Figure Salary Good?
If you’ve hit the 6 figure income, consider yourself in a great position. You’re doing well and are on the right path to building enough wealth for you and your family.
Reaching a six-figure income is a significant milestone, as only 9% of Americans achieve it, according to the BLS. Whether working a full-time job or managing a side hustle, making six figures often represents financial stability and success.
