I’m sure you have heard someone mention that they have a six-figure salary. Or maybe even a seven-figure salary, eight-figure salary, or nine-figure salary. But what does that truly imply? How much exactly is 6 figures?
Well, a 6-figure salary lies between the range of $100,000 to $999,999. It can mean earning over $100,000 per year (which accounts for 9% of Americans), up to almost a million dollars per year.
I earn six figures through various side hustles such as drop shipping and selling printables. I also do online surveys and blogging, and you can do it too. In addition, selling items in your home on Sellfy can also bring in some extra cash. But does 6 figures mean you’re rich? Let’s delve deeper into what it means when someone says they have a 6-figure income.
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How Much Are 6,7, 8, and 9 Figures?
We all dream of being like this young couple with pockets full of cash.
If you’ve ever wondered about the amount of a 6-figure income, don’t worry, you’re not alone. Unfortunately, many people don’t know the answer to this common question, and it can also be a bit of a gray area, as a “six-figure salary” covers such a broad range.
Have you searched for “How much is 6 figures?” Were you curious about “how much is 7 figures?” Or did you type “How much is 8 figures?” or even “How much is 9 figures?” into Google and need some clarity? Let’s break down what these different salaries mean and how to differentiate high earners from those who are just boasting.
First, let’s start by answering the question, “how much is 6 figures?” Simply put, each digit in a number represents one “figure,” so someone earning a 6-figure salary or income brings in anywhere between $100,000 and $999,999 per year.
Now, let me elaborate on the connection between figures and money/salaries.
What Is a Figure?
If you want to understand what a “6-figure salary” means, it’s essential to understand the term “figure” first so that we’re all on the same wavelength.
The simplest way to comprehend the term “6 figures” is to understand that “figure” refers to a digit in a number. To illustrate, consider numbers like 10 or 99 – these are 2-figure (or two-digit) numbers. On the other hand, 3 figures would denote a three-digit number.
But, Have You Ever Wondered, How Much Is 6 Figures and What Is Its Relation to Money?
Well, let’s delve into it.
Did you know that a number with 4 digits, such as 4,000, is considered a 4-figure number?
Likewise, a number with 5 digits, like 50,000, is a 5-figure number.
And, a number with 6 digits, such as 600,000, is a 6-figure number.
Here’s the interesting part: when someone earns a 6-figure income, they’re earning dollars in the range of 100,000 to 999,999 per year.
Similarly, when someone earns a 7-figure income, it means they’re making more than a million dollars per year, like the 7-figure number 7,000,000. People earning any salary over a million dollars, up to a billion, are millionaires.
Moving on, an 8-figure number, such as 80,000,000, signifies a salary of millions, making the person a millionaire or a multi-millionaire.
And, if someone earns 10 figures, i.e., $1,000,000,000, they’re officially a billionaire. So, for instance, Mark Zuckerberg, the creator of Facebook, and Rihanna are both billionaires.
What Percentage of Americans Make More Than $100,000 a Year?
Those with a 6-figure salary or at least $100,000 a year are doing very well financially. According to the US Census Bureau, 24% of individual Americans make a 6-figure salary.
Is Making 6 Figures Good?
I make six figures myself from home doing various side hustles. Nowadays, you don’t need to work a 9 to 5 job to earn good money. I do drop shipping, online surveys, and blog. My family lives comfortably and doesn’t have to worry about making ends meet. I would consider that to be a very good salary.
So, is a 6-figure income rich? The answer is both yes and no. A low 6-figure income would mean you’re living quite comfortably. In some studies, most people close to a 6-figure salary reported being the happiest with their income.
Surprisingly, beyond that point, people reported a decline in their happiness levels. However, there are several factors to consider, such as where you live, family size, debt, and more.
Are Six Figures Rich?
Are people who make six figures rich? For lower-six-figure earners, you would be considered upper middle class at the most. If you are making $200,000 or more, then you would be regarded as relatively wealthy. To get in the top 1% of earners in the USA, you need to earn above $300,000 a year.
How Can I Earn a 6-Figure Salary?
Several corporate jobs can pay you a 6-figure salary; most require you to go to college. These jobs include:
These jobs include:
- Actuary
- Anesthesiologist
- Dentist
- Doctor
- Engineer
- Software Developer
Some jobs that don’t require college are:
- Drop Shipper
- Blogger
- Business Owner
- Pinterest VA
- Bookkeeper (with their own business)
- Social Media Influencer
Is Making 6 Figures Enough for a Good Living?
Yes, but it depends on your city and the cost of living. For example, someone making $100k might still be struggling in New York City and San Francisco, but in a small town in the Midwest, you could live more than comfortably on $100,000 annually.
Generally speaking, in most places, if you earn 6 figures, meaning $100k-$999.99, you should have enough to go on vacations and pay for your wants and needs. Provided you don’t have debt and use your money responsibly, 6 figures should be a comfortable living.
Why do people brag about making 6 figures?
In my opinion, those who brag about how much money they make are annoying. I think how much you earn should be kept secret (just my two cents). Yet, I see people brag about their 6-figure lifestyle on social media—posting pictures and videos of their endless vacations. It irritates me!
I would guess that the reason people brag about how much they make is that they want attention and for people to think they are successful. But remember, not everything we see on social media represents the truth. Money doesn’t always buy happiness.
7 Figures
How Much Is 7 Figures?
Any number between 1 million ($1,000,000) and ten million ($10,000,000) is 7 figures. If someone earns over $1 million, then they earn a 7-figure salary.
What jobs pay 7 figures?
There aren’t many people who make a 7-figure salary. Those who make 7 figures are usually very high up on the corporate ladder, like CEOs with their own businesses. There are also famous movie stars and athletes who earn 7 figures.
Social media stars can also earn 7 figures, like those who have millions of YouTube subscribers. Kylie Jenner, for example, is a social media star that makes a billion dollars!
What Is 7 Figure Business?
If a business generates 7 figures ($1,000,000–$9,999,999) per year, then it is considered a 7-figure business.
8 Figures
How Much Is 8 Figures, and How Much Is an 8-Figure Salary?
An 8-figure salary means someone earns between $10,000,000 and 1 billion ($1,000,000,000). That is quite a lot of money!
What jobs pay 8 figures?
Eight-figure salaries are rare but not unheard of. High-level CEOs, big business owners, famous movie stars, social media stars, and athletes may earn 8-figure salaries.
Top Earning Actors Making 8 Figures or More
According to Variety, the top-earning actors are:
- Tom Cruise – $100 million.
- Will Smith – $35 million.
- Leonardo DiCaprio – $30 million.
- Brad Pitt – $30 million.
- Dwayne’ The Rock’ Johnson – $22.5 million.
- Will Ferrell – $20 million.
- Chris Hemsworth – $20 million.
- Vin Diesel – $20 million.
- Tom Hardy – $20 million.
- Joaquin Phoenix – $20 million.
Top Earning Actresses Making 8 Figures
Variety also estimates the top-earning actresses. Why do actresses earn so much less on average than actors? That is another story in itself.
- Margot Robbie – $12.5 million.
- Sandra Bullock – $10 million.
- Zendaya – $10 million.
- Millie Bobby Brown – $10 million.
- Lady Gaga – $10 million.
- Jennifer Lopez – $8.5 million.
- Gal Gadot – $5 million.
- Emily Blunt – $4 million.
- Jamie Lee Curtis – $3.5 million.
- Anya Taylor-Joy – $1.8 million.
Top Earning Athletes Making 8 Figures or More
For athletes, Forbes estimated that the following earn 8 figures or more.
- Lionel Messi $130m (Soccer)
- LeBron James $121.2m (Basketball)
- Cristiano Ronaldo $115m (Soccer)
- Neymar $95m (Soccer)
- Stephen Curry $92.8m (Basketball)
- Kevin Durant $92.1m (Basketball)
- Roger Federer $90.7m (Tennis)
- Canelo Alvarez $90m (Boxing)
- Tom Brady $83.9m (Football)
Top Earning CEOs Making 8 Figures or More
The top-earning CEOs are below:
- John Hammergren – Company: McKesson (MCK) – Annual compensation: $131.2 million
- Ralph Lauren – Company: Ralph Lauren (RL) – Annual compensation: $66.7 million
- Michael Fascitelli – Company: Vornado Reality (VNO) – Annual compensation: $64.4 million
- Richard Kinder – Company: Kinder Morgan (KMI) – Annual compensation: $60.9 million
- David Cote – Company: Honeywell (HON) – Annual compensation: $55.8 million
9 Figures
What Are 9 Figures?
“Nine figures” means a hundred million dollars ($100,000,000). So, as you can see, there are 9 figures in that number.
Remember some of the people above, like John Hammergren, the CEO of McKesson? He makes $131.2 million, so he earns a 9-figure salary.
Why Would You Want To Know About Different Figures?
Getting figures right is difficult, so I hope this post has helped you understand what people are referring to when they say, “six-figure salary” or “earning eight figures.” If a friend said, “That guy is rich because he makes 6 figures!” you will understand that the guy makes $100k-$999.99k.
BONUS: 10 Figures and Beyond
A 10-figure salary means that someone is a billionaire. Count the digits: $1,000,000,000! Ten in total! The same goes for 11 figures; add another digit: $10,000,000,000. What about 12 figures? $100,000,000,000! Who earns that much? Huge companies, and I doubt any actual person living today, earn quite that much annually. 13 figures? $1,000,000,000,000 is a trillion dollars. Will people in the future earn a trillion dollars per year? We’ll have to see!
Now You Know How Much is 6, 7, 8 and 9 Figures and MORE!
Congratulations! You now know all about 6, 7, and 8 figures, so you will sound knowledgeable if someone ever asks you. If it’s your dream to earn a six-figure salary (or higher), don’t give it up! If you put your mind to it, you can become one of those people who makes over 6 figures!
Are you still confused about what 6,7, and 8 figures is? Let us know in the comments!
If you want to learn how to make 6 figures like me, check out my Printables Ecom Academy Course.
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