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- The term six-figure is typically used to describe the annual income or salary of an individual.
- Figures are digits used to represent numbers. An example is the number 5, which is a single digit, so it’s one figure. The number 84 is two digits, so it’s two figures.
- A six-figure income is a yearly salary of hundred thousand dollars ($100,000) and above, but less than one million dollars (1,000,000).
Earning a six-figure salary is a dream for many, depending on where you live, where you work, and how much you earn. But what exactly does earning a six-figure salary mean?
What is a six-figure salary?
A six-figure salary means earning between $100,000 and $999,999 per year. That means you’ll need to earn just over $8,333 per month over a 12-month period.
Earning six figures means a lot of things, but at its most basic level, a six-figure income means that you have enough money to live comfortably. It means that you have a lot of choices for the direction you want to go in your career, and it gives you the flexibility to take advantage of those choices.
We all want to make six figures but most of us aren’t sure how. It is not uncommon to view six figures as a benchmark that only elite professions can achieve. However, today, it is truly possible to start salaried careers with six-figure salaries without having to become a doctor or lawyer. It is also not necessary to become a specialist either, as one can choose from a wide array of blue-collar jobs that can pay six-figure salaries. Work-from-home entrepreneurs, small business owners, and even some freelance workers are earning six-figure salaries.
Benefit of earning six figure salary
The main benefit of earning a six-figure salary is being able to live comfortably. Living comfortably means not worrying about earning enough to pay your bills, having excess money to save and spend on the things you want. Earning six figures also means not having to worry about making too much money one month and then too little the next — that’s a great feeling.
Another benefit of earning a six-figure salary is job security. There are more people who are looking for jobs that pay over $100,000 per year than there are job openings in this salary range.
How much is 6 figures?
Six-figure is mostly used to describe a salary income of between $100,000 to $999,999. Every digit is a figure, so a six-figure income starts at a minimum of $100,000 and up to $999,999. Over $200,000 is considered to be a multiple six-figure income.
How much is 6 figures a month?
To break a six-figure yearly income into monthly income would be dividing the total yearly income by twelve, which is the number of months in a given year. So if you earned the minimum six-digit figure in a year, which is $100,000 divided by twelve, it makes your monthly take-home earnings to be $8,333 per month!
How much is 6 figures a week?
If you bring home annually the minimum six-digit figure of $100,000. There are fifty-two weeks in a given year, $100,000 divided by 52 will work out to be $1,923 per week!
How much is 6 figures a day?
Suppose you work 40 hours a week from Monday to Friday. A six-figure annual salary of $100,000 will work out to be $384 per day at $48 per hour if you work 8 hours per day.
How much is 6 figures an hour?
An average six-figure salary ranges from $100,000 to $999,999. Assuming you earn the minimum six-figure digit of $100,000 per year and work 40 hours weekly on all 52 weeks of the year, with total work hours of 2080 hours per year. The calculation would be $100,000 divided by 2080 hours, which would round up to be $48 per hour!
What does a six-figure salary get you (income vs. wealth)
A six-figure annual income is quite some money, and with the right budgeting, can get you some beautiful things life has to offer such as vacations, opportunity to have a home and a car.
There’s also a certain type of hype that comes with a six-figure salary which is the feeling that you’ve made it and finally living the “American dream.” However, in most cases, this is not true – a little bit of reckless spending trying to live the ‘rich life can bring you back to the square one vicious cycle of living from paycheck to paycheck.
You can build your wealth through your income, but income can never replace wealth.
Some six-figure earners still live from paycheck to paycheck because they don’t understand the massive difference between wealth and income.
Income is money you earn (into your bank account) regularly, either daily, weekly, monthly, or yearly from your job or work that you do. Income can also be earned through investing capital. Wealth is money you save, invested, accumulated, and grown over time through investment – basically means an abundance of money in the form of valuable financial assets or physical possessions. Wealth is always there for you to use whether or not you have an income. You can build your wealth through your income, but income can never replace wealth.
Six-figure salary jobs
One of the most important factors we all consider when applying for a job is the salary. Most job seekers, if not all, are always on the hunt for jobs with a better pay package that includes benefits and compensation.
Most traditional six-figure jobs will require some level of education with multiple years of college study. Therefore, a good college degree is a solid foundation that can help you choose a six-figure career path.
Here are some six figure jobs that do require having a college degree and their average take-home pay:
Actuary
Actuaries assess and manage risks. They use statistics and mathematics to reduce costs.
Their annual take-home pay is $106,000 on average.
Petroleum engineer
Petroleum engineers deal with the extraction of oil and gas from the earth. The average annual salary is $128,000.
Software developer
In this day and age of technology, software developers are one of the most in-demand. App developers on average, earn $102,000 annually.
Finance manager
Finance managers work for banks, insurance companies, and other organizations. They are responsible for keeping the company financially healthy. As a result, they take home on average $121,000 annually.
Dentist
A dentist specializes in the diagnosis, prevention, and treatment of conditions and diseases in and around the oral cavity. Their average annual salary is $156,000
Other six-figure jobs and their annual salary include computer scientist (119,000), Psychiatrists ($217,000), Anesthesiologist ($291,000), and more.
Here are six-figure jobs that don’t require a college degree. Yes, you can work at a six figures job without student loan debt!
Real Estate Broker – $119,000
Web Developer – $103,000
Air Traffic Controller – $129,000
Others are YouTubers, work from home jobs, business owners, and more.
The dream of earning six figures is every American dream, but the truth is it doesn’t matter how much money you currently make. What matters most is what you do with the money you make. Having a proper financial management system that includes spending limits allows you to spend less than you earn and invest, budgeting, investment, debt repayment, self-improvement, and more.
With a proper financial structure and planning, you can create a sound foundation based on what you currently earn and build the future you desire – It will take some time, but with patience and persistence, you can achieve your financial goals.
What does 6 figures mean in money?
6 figures in money mean earning a salary of at least $100,000 in a year.
Are six figures rich?
A salary between $100,000 – $999,999 is a 6-figure income. Anything over $200,000 is called a multiple six-figure income. But because an individual earns 6 figures does not mean they are rich. Several factors play a part in wealth.
What does a 7 figure salary mean?
A figure is a digit of your yearly income. A 7 figures salary means you are making an annual income with 7 digits, which is a minimum of $1,000,000 and up to $9,999,999.
What jobs make 150k a year?
The following jobs pay $150,000 or more a year:
Optometrist – $163,000 per year
Data scientist – $161,000 per year
Data warehouse architect – $160,000 per year
Obstetrics and gynecology physician – $172,000 per year
Software engineering manager – $164,000 per year
Pediatrician – $180,000 per year
Enterprise architect – $170,000 per year
At what age should you make six figures?
Most six figures earners are typically in their early 30s to mid-40s, where their work experience has come into play and enabled them to have a more successful career, and in some cases, start their own business after gaining some work experience from others.
How much do I need to make a day to make six figures?
You need to make $274 a day to make 6 figures. Assuming you work for all 30 days in a given month at 365 days a year, that means you only have to make $274 a day to reach the six figures mark.
How can I become a six figure earner?
To become a 6 figure earner, you need to find a career or own a business that pays over $8,333 per month. Careers in management, tech, engineering, real estate, and several others are among the top jobs that pay over six figures annually. To many Americans, a six-figure salary is the epitome of success.
How much is upper six figures?
Upper six figures are anywhere between $500,000 to $999,000. Depending on where you live, six figures in salary earnings is considered rich by American standards. A top 1% income earner in the U.S. makes around $400,000 a year.
Is a six-figure salary good?
A six-figure salary is a good mark financially for a lot of people. After all the months and years of hard work, you are rewarded with more zeros on your salary. However, a six-figure salary does not necessarily add up to a rich life if not managed well.
What percentage of Americans make over six figures (100k)?
According to Statista, a total of 34.1% of American households made an annual income of six figures ($100,000) and above in 2019.
How much is 4 figures?
A four-figure annual income ranges between $1,000 to $9,999. This is generally considered an extremely low annual income in the US, UK, or other first-world countries.
How much is 5 figures?
An income of at least $10,000 and up to $99,900 is known as a five-figure salary.
How much is 7 figures?
Seven-figure incomes are anything over a million dollars – $1,000,000 and up to $9,999,999.
How much is 8 figures?
Eight-figure income means you are making an annual salary with at least 8 digits, that’s a minimum of $10,000,000 and up to $99,999,999.
How much is 9 figures?
Nine figures are income numbers with nine digits, which is a minimum of $100,000,000 and up to $999,999,999.