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Money is categorized in many different ways and can be a good marker to evaluate just how “rich” a person may be. One way that money is categorized is by how many figures a person makes. You have probably heard people talking about jobs that make six figures, seven figures, and beyond. So, what does that mean? How much is 6 figures and how do we get there?
What is a figure?
In short, a figure is just another word for a number or digit. So, let’s take a basic example- if you make $100,000 then you make six figures. Each digit in $100,000 represents a figure. 6 digits equals 6 figures. Let’s say you have bumped up your earning potential and are now bringing in $1,000,000. There are 7 digits in $1,000,000 and you are earning 7 figures.
How much is 6 figures?
6 figures range anywhere from $100,000 all the way to $999,999, which as you can see is a massive range in money and can have a massive range in quality of life.
Just how many people actually makes 6 figures?
According to Yahoo Finance, just 9% of Americans are earning more than $100,000 per year.
What jobs make 6 figures?
There are many jobs that pay 6 figures ranging from specialized practices like anesthesiologists to more general occupations like general managers. Below are just a few examples.
- Anesthesiologists – $250,000 per year
- Psychiatrists – $215,000 per year
- Airline Pilots – $160,000 per year
- Lawyers – $140,000 per year
- Pharmacists – $120,000 per year
- Aerospace Engineers – $115,000 per year
- Professors – $110,000 per year
- Software developers – $105,000 per year
- Veterinarians – $100,000 per year
- Construction Managers – $100,000 per year
Most of the traditional jobs that pay 6 figures require college degrees, but what about the ones that don’t? There are plenty of side hustles that offer potential to bring in high volumes of money and come with just as much work. Blogging is a perfect example. Blogging can be a great way to bring in extra cash but will require a lot of leg work to turn into a six-figure machine.
Learn how to make money blogging here.
How much is 7 figures?
7 figures range anywhere from $1,000,000 to $9,999,999. If you are bringing in 7 figures, you are must assuredly in the millionaire club.
What jobs make 7 figures?
Once you start getting into the 7 figures range, finding a job that pays that much can be daunting task. Typically, if you are looking for a job that pays 7 figures you can start by looking at the 6 figure list of jobs and then finding someone that has either specialized in that field or has climbed the leadership ranks in their field. So, what jobs can make the climb?
- Small business owner– while this might seem like a daunting task, many millionaires are made through entrepreneurship. Building your own business can be a great way to turn what you love into a thriving business.
- Specialized doctor or surgeon– many medical professionals can rack up big paydays by starting their own practice.
- Professional athletes– this one is pretty obvious. Many athletes easily cross the seven figures club and go on to earn much more.
- Actors and actresses– similar to athletes, actors and actresses that are famous in their genre have no difficulty racking up large paydays.
- CEO and executive leadership teams– one way to increase your earning power is to work your way up in the ranks of the field you are currently in. This is easier said than done, but many ordinary people work their way up to large paydays through hard work and dedication in their field of work.
- Real estate investors– real estate investing can be a great way to grow your wealth and offers a wide variety of payouts depending on your determination, aptitude, and hustle. There have been many an investor that has turned into a millionaire through sound real estate investing.
How much is 8 figures?
When you’re making 8 figures, it means you’re making over $10,000,00 up to $99,999,999, which is a lot of money.
What jobs make 8 figures?
Trying to find a career or venture that makes 8 figures can seem impossible, but there are a few jobs out there that can bring in that kind of money.
- CEO’s – CEO’s that run large companies, think tech, oil, or manufacturing, have the ability to bring in well over $10,000,000 each year. However, competition to get to these types of jobs is very tough, but it is possible to work your way up.
- Actors – Actors that are well known and popular can easily bring in 8 figure salaries.
- Athletes – Many of your favorite athletes bring in 8 figure salaries.
These jobs are more traditional jobs that can be hard to obtain. One way ordinary people get rich is by starting their own business. This takes a lot of work, but if you have a good idea and the capital to begin, starting your own business can be an exciting and achievable way of racking up the figures.
How much is 9 figures?
If you’re making 9 figures, then you’re in the $100,000,000 range, which means you’re making anywhere from $100,000,000 to $999,999,999.
These types of earnings are generally saved for the most elite of the elite- the highest paid athletes, actors, and venture capitalists among us. If you’re making 9 figures, then you’re considered one of the wealthiest people in the United States.
How much is 10 figures?
If you’re making 10 figures, then you’re in the billionaires club. 10 figures starts at 1 billion dollars, $1,000,000,000 up to $9,999,999,999. If you’re making 10 figures then you’re joining people like Bill Gates, founder of Microsoft, and Jeff Bezos, founder of Amazon. Time to celebrate!
How much do you need to be rich?
While it is cliché, what it takes to be rich is in the eye of the beholder. Not only is being rich rooted in what you value in your day to day life, it is also dependent on what you need to spend to find happiness. There are plenty of people that make $70,000 per year but live off $50,000 and therefore feel rich. It all comes down to what matters to you. Self-reflect and set goals to determine what it will take for you to achieve happiness and then lay out a plan of what it is going to take to get there.