I’m sure we have all heard someone say they earn a salary of 6 figures. I’m sure we have also all heard someone say they have a 6 figure net worth.
You have probably heard reference to 7 figures, 8 figures and even 9 figures as well.
While these terms are thrown around a lot, what exactly does all of it mean?
If you’re not sure, don’t worry. By the end of this post, you will know exactly what a figure is, how much 6 figures, 7 figures, 8 figures, and 9 figures is in money, and much more.
Understanding these terms and what they mean with regards to money is important for you to provide for yourself and your family, reach financial independence, and even possibly retire early.
So, how much exactly is 6 figures?
6 figures in money is any amount between $100,000 and $999,999.
With the said, let’s now begin by discussing what and how much a figure is…
Table of Contents
1. How much is a figure?
2. How much is 6 figures?
3. Is 6 figures a year good?
4. Examples of 6 figure jobs
5. What to do when you start making 6 figures
6. How much is 7 figures annually?
7. What jobs can you make 7 figures?
8. How much is 8 figures?
9. 8 figure salary jobs
10. How much is 9 figures?
11. What are 9 figure jobs?
12. How to increase your salary “figure”
13. Frequently asked questions
14. Final words
How Much Is a Figure?
Before we discuss how much 6 figures in money is, it’s important you understand what and how much a figure is.
A figure is a single number, commonly known as a numerical digit. For example, 0, 1, 2, 3, 4, 5, 6, 7, 8, and 9.
The number 10 contains two figures – 1 and 0.
The number 2,186 contains four figures – 2, 1, 8, and 6.
Furthermore, the number 91,827 contains five figures – 9, 1, 8, 2, and 7.
When someone refers to the term “figure” with regards to money, they are usually referencing annual salary or net worth.
How Much is 6 Figures?
6 figures is any number that contains 6 digits. So, 6 figures in money is any amount between $100,000 and $999,999.
In other words, it’s any amount less than $1 million but more than $99,999.
This is because $99,999 has five figures and not six – 9, 9, 9, 9, and 9.
And $1,000,000 has seven figures – 1, 0, 0, 0, 0, 0, and 0.
So, when someone says they earn a 6 figure salary, it means that they make $100,000 or more per year but less than $1 million.
Keep in mind that this is the amount that they earn before tax and other deductibles.
On the other hand, when some says they “have 6 figures”, they are typically referring to their total net worth based on all of their appreciating assets. Net worth does not refer to income or annual salary.
Note: Cents are not included as figures. For example, $110,000.19 is still consider 6 figures in money, as the digits after the decimal are not included as figures.
Is 6 Figures a Year Good?
Yes, earning 6 figures per year is great. However, because 6 figures refers to such a broad amount of money, it’s hard to say exactly how good.
- Low 6 figure salary: $100,000 – $333,333
- Mid 6 figure salary: $333,334 – $666,667
- High 6 figure salary: $666,668 – $999,999
With that said, to put it in perspective, making more than $100,000 per year has been considered a mark of financial success for many decades.
In fact, according to the U.S. Bureau of Labor Statistics, only roughly 20% of American households exceed $99,999 in annual income.
However, due to inflation, earning $100,000 or more does not have as much of an impact on your finances as it once did.
The rising cost of living, debt, and other expenses has reduced the impact earning 6 figures has on someone’s finances.
The area you live, the size of your family, how much debt you have, and your lifestyle also have a major impact on how far a 6 figure salary can go.
With that said, earning $100,000 or more per year is still an amazing accomplishment, regardless.
Examples of 6 Figure Jobs
According to data from the polling company YouGov, which was shared with Yahoo Finance, just less than 10% of Americans earn $100,000 or more per year.
The data also found that the majority of these individuals have a postgraduate degree. While having a postgraduate degree can drastically increase your income, it may result in a significant amount of student loan debt.
With that said, there are some 6 figure jobs that don’t require a degree. However, many 6 figure jobs that don’t require one are highly dangerous or extremely stressful. Many of these also require extensive training and certifications.
6 figure jobs that do require a degree:
- Financial advisors
- Computer scientists
6 figure jobs that don’t require a degree:
- Commercial pilots
- Elevator installers and repairers
- Nuclear power reactor operators
- Dental hygienists
- Electrical power-line installers
- Business owners
What to Do When You Start Making 6 Figures
You did it, your hard work and smart financial decisions paid off and you’re now earning 6 figures. This accomplishment is no small milestone on your journey to financial independence.
However, making more money also means paying more taxes. It also means a different financial plan than you had when you were making half of your current income.
While making 6 figures is an exciting accomplishment, it requires quite a bit more money management, among other things.
Considering this, here are several things you should do when you start making 6 figures:
- Revisit your budget
- Revise your long-term financial goals
- Prepare to pay more in taxes
- Create an estate plan
- Avoid lifestyle inflation
- Reduce your expenses
- Pay off your debt
- Add to your emergency fund
- Automate your savings
- Increase your 401(k) savings
- Contribute to a Roth IRA
Note: You should do almost all of things even if you’re not making 6 figures.
How Much Is 7 Figures Annually?
7 figures is any number that contains 7 digits. So, 7 figures in money is any amount between $1,000,000 and $9,999,999.
In other words, 7 figures in money is $1 million or more but less than $10 million.
So, when someone says they earn a 7 figure salary, it means that they earn anywhere between $1 million and $9,999,999 per year.
Considering this, there is a large disparity between an individual who earns a low 7 figure salary and someone who earns a high 7 figure salary.
However, most individuals who earn a 7 figure salary are millionaires, unless they’re in a massive amount of debt.
Again, keep in mind that this is how much they earn before tax and other deductibles.
What Jobs Can You Make 7 Figures?
Unlike 6 figure jobs, 7 figure jobs are much harder to come by. They are also much more difficult to get. However, there is some overlap.
According to Harvard Business Review, less than roughly 5% of Americans earn a salary of $1 million or more.
Jobs that pay 7 figures require individuals who do specialized work in domains where there is a high demand. They also require individuals who have a very specialized skillset in a specific field of work.
7 Figure Jobs:
- CEOs or C-suite Executives
- Business owners
- Specialized surgeons
- Investment banking managers
- Professional athletes
- Movie stars
- Social media influencers
- Real estate developers
- Corporate lawyers
- Sales Directors
How Much Is 8 Figures?
8 figures is any number that contains 8 digits. So, 8 figures in money is any amount between $10,000,000 and $99,999,999.
Yes, 8 figures is $10 million or more but less than $100 million.
That’s a lot of money!
So, if someone earns an 8 figure salary, it means that they earn anywhere between $10 million and $99,999,999 per year.
Almost everyone who earns an 8 figure salary is a multi-millionaire and is considered extremely wealthy.
8 Figure Salary Jobs:
- Professional athletes
- Movie stars
- Hedge fund managers
Who Makes 8 Figures a Year?
- Dwayne Johnson, actor: $87.5 million
- Ariana Grande, pop superstar: $72 million
- Scarlett Johansson, actress: $56 million
- James Harden, athlete: $47.8 million
- Steve Ells, Chipotle CEO: $29 million
- Douglas McMillon, Walmart CEO: $22.1 million
- Kevin Johnson, Starbucks CEO: $19.2 million
How Much Is 9 Figures?
If you thought 8 figures was a lot, wait until you hear how much 9 figures is.
9 figures is any number that contains 9 digits. So, 9 figures in money is any amount between $100,000,000 and $999,999,999.
In other words, 9 figures is $100 million or more, but less than $1 billion.
If someone has a 9 figure salary, it means that they earn anywhere between $100 million and $999,999,999 per year.
This is truly an unbelievable amount of money, especially as an annual salary.
What are 9 Figure Jobs?
There is very, and I mean very few jobs that pay a 9 figure salary. People who earn 9 figures are in a very small group of elite individuals across the globe and are typically the world’s richest.
However, similar to 8 figures, people who earn 9 figures don’t earn all of it in actual salary. Much of it is included in other perks they receive like stock options, endorsements or even the value of their own investment portfolio increasing.
For example, Elon Musk, early-stage investor and CEO of Tesla, is reported to have made $36 billion in a single day. However, this was a result of Tesla’s historic stock surge and not his actual salary.
On the other hand, individuals who have a 9 figure net worth typically inherited their fortune.
With that said, 9 figure earners are usually in the same league as 8 figure earners. Considering this, your best bet at earning 9 figures is to create a brand new product that changes the world (think Steve Jobs) or become a Fortune 500 CEO, pop superstar, or an elite athlete.
Examples of 9 figure jobs:
- Fortune 500 CEOs
- Hedge fund managers
- Pop superstars
- Media superstars
- Elite athletes
Examples of people who have earned 9 figures:
- Taylor Swift, pop sensation: $185 million
- Kylie Jenner, media superstar: $170 million
- David Zaslav, Discovery CEO: $129.5 million
- Ed Sheeran, pop superstar: $110 million
- Safra A. Catz, Oracle CEO: $108.2 million
- Cristiano Ronaldo, elite athlete: $105 million
How to Increase Your Salary “Figures”
Considering the median annual wage in the US in 2019 was only $34,248.45, earning $100,000 or more per year is a very difficult goal to achieve and highly unlikely for most people.
However, this doesn’t mean you shouldn’t strive to increase your income or work very hard in an effort to reach 6 figures.
With a lot of hard work, a well-rounded plan backed by goals, and unrelenting determination, it is possible.
Considering this, here are several tips to help you increase your income and potentially reach 6 figures or even more:
- Ask for a raise
- Earn a promotion
- Complete a certification program
- Earn a degree
- Start a side hustle
- Create your own business
- Search for a new job
- Invest in income-generating assets
Many people think their job is the only way to make money, therefore they need a better job to reach 6 figures. While this is one way to increase your income, it’s not the only one.
In fact, the secret of most millionaires is that they have a diversified income, meaning they make money multiple ways.
For example, a millionaire might have a full-time job, a side hustle and income-generating assets, such as rental properties and dividend-paying stocks.
Here are several frequently asked questions about figures:
How Much Is 6 Figures an Hour?
Someone with a 6 figure salary earns anywhere between $48.08 – $480.77 per hour.
Keep in mind that 6 figures in money is any amount between $100,000 and $999,999.
Here is the math:
Low 6 figures, which is $100,000, breaks down to $48.08 per hour ($100,000 / 2,080 hours). On the other hand, high 6 figures, which is $999,999, breaks down to $480.77 per hour ($999,999 / 2,080 hours).
How Much Is 6 Figures a Day?
If someone earns 6 figures per year, that means they earn anywhere between $384.64 – $3,846.16 per day.
Again, keep in mind that 6 figures in money is any amount between $100,000 and $999,999.
Here is the math:
Low 6 figures, which is $100,000, breaks down to $384.64 per day ($48.08 x 8 hours). On the other hand, high 6 figures, which is $999,999, breaks down to $3,846.16 per day ($480.77 x 8 hours).
How Much Is 6 Figures Weekly?
Someone with a 6 figure salary earns anywhere between $1,923.08 – $19,230.75 per week.
Here is the math:
Low 6 figures, which is $100,000, breaks down to $1,923.08 per week ($100,000 / 52 weeks). On the other hand, high 6 figures, which is $999,999, breaks down to $19,230.75 per week ($999,999 / 52 weeks).
How Much Is 6 Figures a Month?
If someone earns 6 figures annually, that means they earn anywhere between $8,333.33 – $83,333.25 per month.
Here is the math:
Low 6 figures, which is $100,000, breaks down to $8,333.33 per month ($100,000 / 12 months). On the other hand, high 6 figures, which is $999,999, breaks down to $83,333.25 per month ($999,999 / 12 months).
Is 6 Figures a Millionaire?
Considering 6 figures in money is any amount between $100,000 and $999,999, someone who earns 6 figures is not necessarily a millionaire.
However, someone who makes 6 figures may have a $1 million net worth, which would certainly classify them as a millionaire.
Is 9 Figures a Billion?
$1,000,000,000 contains 10 figures. Considering this, 9 figures is not $1 billion. However, $999,999,999, which is 9 figures, is only $1 less than a billion.
So, while high 9 figures is not a billion, it’s super close.
Final Words on 6 Figures
There it is, now you know exactly how much 6 figures, 7 figures, 8 figures, and 9 figures is in terms of money.
While not everyone will eventually earn 6 figures or more, it is possible for you. Although the job you have will largely determine how much you make, the secret to financial success is creating multiple streams of income.
Regardless of how much you make, properly managing the money you already earn is also key to building wealth.
Considering this, if you want to reach a net worth of 6 figures or more, you should also live well within your budget and always save and invest as much as you can.
While it may take several years, if you properly manage your finances and build multiple streams of income, a net worth of 6 figures or more will be well within reach.