What is 6-figures in money, and how much is 6 figures a year? This post will explain the 6 figures meaning and how it relates to income and your life.
In a highly complex and competitive society where everyone hustles to improve his living standards, earning a good income can be intricate. A six-figure income is a dream for many people because it can help them live a peaceful life.
Earning 6 figures in money can be a very lucrative goal, but it’s not as difficult as you might think. With your hard work and knowledge, you can enable yourself to explore avenues of great expertise and earn a six-figure salary.
But what does that really mean in terms of buying power and lifestyle?
In this blog post, we will take a closer look at what does 6 figures mean, how to make 6-figures, jobs that pay your 6 figures in money and much more!
What does 6 figures mean?
Let’s take a ride back to childhood when we were taught how to count.
To understand what is 6 figures and what does making 6 figures mean in salary, we need to understand what the term figure ‘portrays’ here.
The figure represents a numerical form of data of anything to you. E.g., 6 people, 6 books, etc. In the 6 figures money context, figure 6 is used to quantify the number of digits in a person’s income.
The 6-figure income here means that the person has a salary of 6 digits in number i.e. 100,000 dollars or more.
How much is 6 figures a year?
To simplify, 6-figure money can be between a minimum of $100,000 to a maximum of $999,999 annually.
Any number less than $100,000 would mean it’s a 5-figure money, and any number above $999,999 would mean it’s a 7-figure.
Data presented by the BLS, that is, the US Bureau of Labour Statistics portrays that around seven per cent of US resident workers only earn a salary of $100,000 or more (1).
How much is 6 figures per month?
As we know, the 6 figure income is what we earn annually. So, if we want to calculate it monthly, we need to divide the 6-figure salary by 12 months.
Let’s say we calculate it with the lower end of the 6-figure salary, that is, $100,000.
It means that a 6 figure salary monthly would be around $8333.33.
Similarly, if we want to know 6 figures weekly or daily salary, we can further divide the monthly income by weeks or days.
With a full-time work schedule, it would be $2,033.33 per week, $416.66 per workday, or $52 per hour.
So is it really difficult to make six figures?
Does 6 figure income make you lead a happy life, how you can earn it and how you can kick in the inner ambition to start working for the big 6 figure salary?
We will explore this fact in the following sections.
Is 6 figures in money a Good salary?
As such earning more than $10,0000 per year income means that you are in the top tier of wage earners.
With this 6 figure income, you can live a joyous life if you know how to save and invest efficiently. Otherwise, no matter the figure salary, there is no promise of a perfect life through it.
Generally speaking, in the US cities with the high cost of living like Boston, New York, Sans Fransisco, Los Angeles, etc., a pay of 6 figures might not be enough to live a contented life if you do not know how to manage your finances.
But if you live in comparatively cheaper cities like Memphis, Tulsa, Waterloo, Kansas City, etc., 6 figure salary might be more than enough for you to afford a good lifestyle (depending on your spending habits, of course).
Of course, this is just a generalization, and there is always exceptions to the rule.
There are two extreme ends to this six-figure income bracket.
One ($100,000) might not be enough to sustain a good lifestyle, and the other ($999,999) is more than what’s needed to have a comfortable life.
Is making 6 figures a year enough to live a good life?
There is an ancient cliche passed on from generation to generation that money cannot buy a man happiness.
While some people live a contented life without having a 6-figure salary, others will live a contented life only when they earn a 6-figure income.
Succinctly, a lot of environmental factors like inflation, living standards, spending, savings, etc., contribute to deciding whether 6 figures salary is good enough for you or not.
E.g., If you earn a salary of $100,000 on edge and most of your income goes into paying your debts, you won’t be left with enough money to live the life you wanted.
Or if you are living in an expensive city in the US, you have to spend more, which will eventually make you think the worth of 6 figures to you.
It is possible to live a comfortable life on a 6-figures salary in an expensive city if you are mindful of your spending habits and make wise financial decisions.
The bottom line is your living standard, your environmental requirements, your investments, and your savings all decide whether the 6 figures income will help you live a peaceful life or not.
Here are some free resources on my blog to track your expenses and income:
- Budget planning printables to manage your income
- No spend tracker for no spend challenge
- DIY budget binder with cash envelops
Let’s now move on to the big topic of how to make 6 figures income yearly and learn about several job titles in the United States that pay a six-figure salary.
Jobs that pay 6 figures salary
There are a plethora of job positions in the US that offer 6 figures annual salary. While some of these 6 figure jobs are entry-level, others are for highly experienced individuals.
In the following 6 figures salary list, we have compiled some of the most popular job positions that offer a 6 figure annual income:
The US Bureau of Labour Statistics says that in 2021 the median per year income for lawyers was around $127,990 (2).
Being a lawyer might sound fascinating if you are interested in legal arguments and matters, believe you can handle legal issues, and understand laws and regulations.
To get into this occupation, you need to have a law degree and clear the exams related to it.
The average income for actuaries in the US is around $117,099 annually (3).
That’s a good 6-figures income to have in this job. If you have an interest in mathematics and know risk management and statistics-related details, you may pursue a career in this area. To work as an actuary, you’ll need a degree in mathematics or actuarial science.
A dentist in the US is more likely to earn a 6-figures income of $163,220 in a year (4). To be a dentist, you will have to pursue a degree and get a license for dental practice from the state in which you wish to work.
Physicians and Surgeons
A physician or a surgeon with an MD degree could expect to earn a 6 figures salary of $208,000 and more each year in the United States(5). To no surprise, this field easily enables the person to earn a good income because of the toil this field requires.
For becoming a physician or surgeon, you need to study in medical school, specialize in a field and complete required internships and training.
Airline and Commercial Pilots
In the US, airline and commercial pilots get around a 6 figure income of $134,630 a year (6). Airline pilots also have very strenuous jobs and require a cautious attitude towards this profession. This profession requires you to complete certain examinations and acquire certain qualification certificates.
The masterminds behind computer programming have a hand of software developers. Their annual average income is around $110,140 in the US (7). They design, brainstorm, code, and develop software for our everyday use.
These people are likely to earn a six-figure salary of around $131,710 annually in the US (8). Banks are ideal places for finance managers to look for jobs. A bachelor’s degree in finance with an MBA is the best route to a six-figure salary for this profession.
There are many diversified engineering jobs these days. Let’s look at some of their annual incomes in 6 figures.
- An electrical and electronics engineer gets paid around $101,780 annually (9).
- Aerospace engineers get paid around $122,270 a year (10).
- Petroleum engineers earn a yearly income of around $130,850 in the US (11).
- Nuclear engineers earn $120,380 a year (12).
There are many more fields in engineering that can offer you a six-figure salary. But these are some of the few examples to help you figure out.
Marketing managers are the people who help create and implement marketing plans. They also have to monitor competition, manage budgets, and set prices for products or services. Their average annual 6 figures salary is around $133,380 (13).
To become a marketing manager, you need experience in marketing and sales along with a bachelor’s degree in business administration or marketing.
Looking at the jobs that bring a six-figure income every year, it can be concluded that the scope for earning a 6-figure salary is quite good in the United States.
There are many career options and jobs that can help you earn that much money. All you need to do is get the required qualifications and experience.
Till now, we’ve seen what 6 figures money jobs are, so let’s look at how to pursue your goal of six-figure earnings in the next section.
Can you make six figures without a college degree?
Yes, there are six-figure jobs that don’t need a college degree. However, these would definitely require time, skills, training or experience. You cannot achieve these without putting in the work.
The following are some examples of six-figure jobs that don’t require a college degree:
- Video editors (thanks to the world of social media, there is a demand for video editors)
- Bloggers (blogging takes time to build an audience and generate income)
- Small Business owners
- Relators (can make way more than 6-figures)
- Sales Managers
How to make 6 figures in money?
Aka: what kick do you need to start working for a 6 figure income yearly?
Earning a 6 figures income is not as simple as ABC and isn’t something you dreamt of today and will get tomorrow.
Everything has a process. If you aspire to get a 6 figure salary job, you need to be very considerate about how your life goes on.
Here are some tips that will help you reach your goal.
1. Boost your resume with in-demand certifications
Earning a 6 figures income can be a bit easy when you know you are qualified enough with all the tools that promise to give you the wage you are looking for and have the desired skills that are in demand.
Make sure you know about certifications and licenses related to the occupation you pick up. You can’t just apply for any job and expect a 6 figure income from it.
2. Contemplate Your Goals
If you want to get to the wage of 6 figures you aspire to, it is essential that you first sit back and pen down your goals. Where do you want to head, why do you want to head there, and whether it would be fruitful.
3. Upscale Your Skills To The Next Level
A key to earning 6 figure yearly income lies in the fact that the number of skills you absorb, the more you are likely to get good 6-figure pay. Get more training, learn advanced skills, and ensure you gain expertise in the field you wish to work in. It will surely land you a decent 6 figures annual income.
4. Build A Strong Network
The book by Porter Gale has the iconic title “your network is your net worth,” which is helpful in this context.
When looking for 6-figures pay, you also need to ensure that you are building good connections with other influential people in your field so they can recommend you for a job or give a good word about you to the employer. Start building a strong network, and don’t sleep on LinkedIn.
Ask your peers and managers to give you LinkedIn recommendations – they can boost your profile and make you look more attractive to recruiters.
5. Pave The Way For Side Hustles
A 6-figures income is not always earned through your primary occupation. Many times, it is the side hustle that gives you the extra edge and helps you make more money.
You can do any of the following:
- Start a blog: Yes, blog makes money. Some blogs make a lot of money like 6 and 7 figures!
- Freelance your skills: One of the best side hustle, use your skills and work part time or on weekends.
- Proofread: Best side job for natives who love correcting errors.
- Start a business: Sell things from home or start an Amazon FBA business.
You might be surprised to know that more than 50% of Americans have a side hustle!
All these activities will help you get closer to your 6-figure salary goals.
6. Be patient
Earning a 6-figures income is not something that will come to you in the snap of your fingers. It takes time, and it might even take years for you to reach there. So don’t lose hope and keep working hard towards your goal.
6 Figures meaning and Your Life: Final Thoughts
By now you might have realized that earning 6-figures in money is not easy, but it’s not impossible also.
Make sure that the job you choose is something you’re passionate about. That’s the only way you’ll be able to do it well and make a lot of money. Otherwise, it’s going to be a lot harder than you think.
You may not start with a six-figure salary right away, but if you work hard at it, you can eventually make more than that.
It would be best if you had a plan and specific goals to achieve 6-figures. Without these, it’ll be more challenging to focus on what you need to do to make more money.
Just a recap:
- Invest wisely.
- Spend according to your needs.
- Keep learning more and building up your skills.
- Grow your professional network.
Give your best, and you will see fruitful results. Acquire the right skillsets and never put a halt to your dreams. 6 figures or more than that can be your destination, but you need to put hard work and toil into it.
How many zeros are in 6 figures?
As 6 figures means a 6 digit number, it would have 5 zeroes and a 1. For example: 100,000 has 5 zeroes.
How much is 7 figures?
Just like 6 figures has a meaning, so does the term ‘seven figures’. A seven-figure number has seven digits in it (with the first digit being one).
The smallest possible seven-figure number is 1,000,000, and the largest is 9,999,999.
A person who gets a salary between 1,000,000 and 9,999,999 per year can be said to earn a seven-figure income. It is what most people would call a “millionaire”.
How much is 8 figures?
An eight-figure salary is a salary that has eight digits, with the first digit being one.
The smallest possible eight-figure number is $100,000,000 and the largest is $999,999,999.
A person who gets a salary between $100,000,000 and $999,999,999 per year can be said to earn an eight-figure income.