We frequently see the words 6-figure salary or 6-figure income being bandied about. While they sound impressive, they are definitely not out of your reach and are in fact, very realistic income goals that everyone should aspire to.
A 6 figure income typically means a salary of 6 digits a year (not including the cents). It means earning anywhere between $100,000 to $999,999 in gross income annually. For example, someone earning $180,000 yearly will be considered a 6 figure earner or as having an income within the 6 figure bracket.
This article will show you what 6, 7, 8, 9, 10, 11 and 12 figure incomes are and some of the jobs associated with these income brackets. We will also talk about the people who have achieved these incomes and what they are currently doing.
How Much Is A 6 Figure Salary?
As mentioned previously, a 6 figure salary means earning anywhere between $100,000 to $999,999 annually. A 7 figure salary is an income that has 7 digits to it in total, meaning anywhere between $1,000,000 (a million) to $9,999,999 (a dollar short of $10 million). An 8 figure salary is anything that starts from $10,000,000 (note that there are 8 digits in this figure) to $99,999,999 (a dollar short of $100 million).
In the same trend, a 9 figure salary means hitting the $100 million dollar mark ($100,000,000)and goes up all the way to $999,999,999 (a dollar short of a billion dollars). A 10 figure salary means touching the 1 billion dollar mark ($1,000,000,000) to $9,999,999,999 (a dollar short of $10 billion). A 11 figure salary will mean anywhere between $10,000,000,000 (ten billion dollars) to $99,999,999,999 (a dollar short of $100 billion). Finally, a 12 figure income depicts earnings between $100,000,000,000 onwards to $999,999,999,999.
These numbers can include the monthly basic salary, allowances, bonuses, and other extra payouts, or be from other streams of income.
How Much Are 6 Figures In An Hour
A 6 figure salary will range from a minimum of $11.14 to a maximum of $114.16 per hour.
How Much Are 6 Figures In A Month
A 6 figure salary will range from a minimum of $8,333.33 to a maximum of $83,333 per month. Keep in mind these figures are usually those taken before tax deductions.
Is Getting 6 Figures Annually A Good Salary?
Earning a 6 figure income yearly is nothing to sneeze at. Anyone who has a gross income of over $100,000 yearly will definitely have a much elevated social status and a significantly bigger purchasing power compared to those in the 5 figure income bracket.
A 5 figure income bracket means earning $99,999 and below yearly, or below $8,333 monthly.
People who earn 6 figures yearly (regardless of whether they’re entrepreneurs, business owners, or employees at a company), are seen to have at least made it in life – because this amount allows you to afford more luxurious holidays, trips, bags, and a house in the more expensive areas of town. Their kids will be able to attend private schools or more expensive schools. They’ll be able to indulge in costlier activities such as private lessons (as opposed to group lessons) for horseback riding, violin playing, and so on.
However, it also largely depends on the city you’re staying in. A $100,000 may give you a really good life in smaller towns, but in places such as New York City where the cost of living is significantly higher, you’d need double the amount to maintain the same lifestyle.
How Do You Make 6 Figures Yearly?
If you’re currently working a 9-5 that brings you less than 6 figures in total gross income yearly, adding a $2,000 to $4,000 side hustle may just be what you need to be part of the 6 figure earners group and allow you to pay off your debts and afford small luxuries such as more holiday trips and a mini home makeover.
Side gigs will require you to sacrifice some time from your weekend and after-work hours on weekdays, but they can be pretty lucrative if you get the right clients and are good at what you do. Check out this link to find out more about work-from-home jobs you can do to make some extra moolah on the side.
Examples include copywriting, blogging, website designing, funnel building, and even virtual assisting jobs such as Facebook group management, sorting emails, and responding to social media comments. Businesses are ready to pay anywhere between $25 to $75 per hour and will require you to work between 20 to 30 hours weekly on a part-time basis.
Employees working in a professional capacity usually have an income that surpasses $100,000 yearly – details in the section below.
Six-Figure Jobs That Need A College Degree
These professions more often than not provide an annual income between $150,000 to $300,000, depending on the role and position you hold in the company. Here are some examples of six figure jobs that will require you to have a college degree.
|Career||Degree Required||Average Annual Salary|
|Financial Manager||Bachelor’s Degree||$100,178|
|Aeronautical Engineer||Bachelor’s Degree||$102,520|
|Electronics Engineer||Bachelor’s Degree||$103,593|
|Sales Engineer||Bachelor’s Degree||$106,147|
|Software Engineer||Bachelor’s Degree||$114,644|
|Chief Operating Officers||Bachelor’s Degree||$119,979|
|Senior Research Scientist||Master’s Degree||$133,001|
|Chief Technology Officer||Bachelor’s Degree||$152,132|
|Physicians and Surgeons||Bachelor’s Degree||$214,700|
Six-Figure Jobs That Do Not Require A College Degree
If you don’t have a degree, or have one but are not earning enough with it, fret not! Here are some jobs that do not require a degree to get you into the 6 figure income bracket.
|Business Owner||$100,000 to 7 figures|
|Real Estate Broker||$46,000 to $112,410|
|Blogger||$30,000 to $180,000|
|Writer||$30,000 to $125,880|
|Commercial Pilots||$ 75,000 to $200,920|
|Film or Video Editor||$60,000 to $152,720|
|YouTuber||$0 to several millions|
|Social Media Manager||up to $121,710|
|Coach/Consultant||up to $500,00|
|Web Developer/Funnel builder||$30,000 to $110,000|
The Percentage of Americans That Make Over $100,000 Yearly
According to Policyadvise.net, 30.7% of households in America earned over $100,000 in 2020, and 10.3% earned above $200,000 annually.
How To Be Successful With A 6 Figure Salary
A 6 figure income should give you a comfortable life and allows you to have fewer debts and more financial security.
It is not everyone that can handle this amount of money well, however. Many are still riddled with debt and fraught with worries despite a lucrative income, simply because they tend to live beyond their means and simply do not have the ability to save or invest wisely.
Managing money correctly does not come naturally to everyone. In fact, most people I know went through years of debt and stress before finally getting the hang of saving and managing their income wisely. I’d go so far as to say more than 50% of the people earning this amount of money are still struggling with financial issues – credit card debt, unpaid mortgages and missed car loan payments. It is incredibly easy to go out and shop your worries away and allow yourself to feel rich and luxurious, but these moments of joy do not come without a price.
Planning your budget, living within your means, and avoiding spending on unnecessary wants will take you a long way. Proper investments or continuing to diversify your income streams such as investing in property and doing digital marketing will only grow this figure and catapult you into the 7 figure income bracket one day. It is undeniable that digital marketing can be one of the best sources of income if one can adapt to the learning curves and pick up much-needed skills along the way.
Is Making 6 Figures Something To Be Proud Of?
Oh, yes. Making 6 figures has been the trademark of a successful financial life for years now. A lot of people can make it, but not many can hold on to it.
It is an achievement in its own right and hence you will hear many self-made business owners, entrepreneurs, digital marketers, and more offering to coach or consult or create digital courses for you to buy because being a 6 figure earner allows you to have the authority and proof that you know what it takes to bring you to this level of financial success.
How Much Are 7 Figures?
A 7 figure income means earning anything between $1,000,000 (a million) to $9,999,999 (a dollar short of $10 million). Basically, there are 7 digits inside these numbers, hence the name 7 figures or a 7-figure income.
Jobs That Pay 7 Figures A Year
Professions that have high potential to let you earn one million or more yearly include being an investment banker, a partner in a huge law firm, a high profile attorney handling high profile cases, and a doctor having his own practice.
Being a professional sportsman such as an NBA player, representing the country or state in national or state competitions also pay extremely well. The average NFL, NHL, MLB and NBA salary ranges between $2.4 to $6.5 million dollars per year.
Being a makeup artist to celebrities may get you into this pay bracket, too. This article also talks about ways to earn 7 figures a year.
How Much Are 8 Figures?
An 8 figure salary is anything that starts from $10,000,000 to $99,999,999 (a dollar short of $100 million). These figures contain 10 digits, hence the name 8 digits, hence the name 8 figures or 8-figure salary.
Jobs That Pay 8 Figures A Year
Business owners and entrepreneurs who have the ability to scale their businesses to over $10 million a year are 8 figure earners. Actors who are paid $10 million per movie are also 8 figure earners. The Rock aka Dwayne Johnson is paid between $10 million to $25 million per movie. You can refer here for the breakdown.
How Much Are 9 Figures?
A 9 figure salary is when you earn anything between $100,000,000 (note that there are 9 digits inside this number) and $999,999,999 in gross annual income.
Jobs That Pay 9 Figures A Year
Entrepreneur Russell Brunson is worth over $40 million, but his company Clickfunnels made over $300 million in sales last year. That’s an average of $25 million dollars in revenue every month.
How Much Are 10 Figures?
Earning 10 figures means anything between $1,000,000,000 to $9,999,999,999 yearly, which is between 1 billion to nearly 10 billion. This brings you into the billionaire category.
Oprah Winfrey made $3.5 million dollars in 2021.
How Much Are 11 Figures?
Earning 11 figures a year will also place you in the billionaire category – however, you will be making anywhere between $10,000,000,000 to $99,999,999,999.
Many businessmen, actors, and athletes make it into this category.
How Much Are 12 Figures?
Some of the richest people in the world fall into this category. They earn between $100,000,000,000 ($100 billion) to $999,999,999,999 (nearly $1 trillion) annually.
Examples include Elon Musk, who raked in $277 billion, Jeff Bezos who made $195 billion, and Mark Zuckerberg, who made $128 billion in 2021.
Final Thoughts on Getting A 6 Figure Income Yearly
A 6 figure income is completely possible. Keeping it may be a challenge because the good life can go to your head and you’ll end up spending more than what’s necessary.
Manage your time and find a side gig you’re comfortable doing, such as designing, writing, or blogging. It may take time, but it’ll bring you there. I started making consistent $5k months as a funnel designer within months of learning this skill and eventually made enough to leave my high-paying job as a pharmacist.
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