# How Much is 6 Figures? Understanding Amounts in the Hundreds

How much is 6 figures in money are amounts between \$100,000 and \$999,999? Usually, it refers to annual salaries, but it can also refer to any number or price.

However, there are some nuances to these rules. The meaning of a “figure” really needs to be understood. Then, regardless of the number people use, you will know what they are talking about.

## What does “figures” even mean?

Figures are a fancy way of saying “digits.”

• Numbers are made up of digits.
• There is only one digit in the number 7.
• There are two digits in the number 45.
• There are three digits in the number 365. So on.

In other words, if a number has six digits – like 123,456 – that is considered a six-figure number. if a number has Seven figures – like 123,456,7 and if a number has eight figures – like 123,456,78 Unless otherwise specified, annual salaries are typically expressed in figures.

### How are “figures” calculated? Before or after taxes?

The number of figures you earn is determined by your gross income (before taxes). Depending on how much tax you pay, your net income (after taxes) may be lower.

For example,

Even with a salary of \$107,000 (six figures), taxes would reduce your take-home pay to five figures.

#### 1. Revenue vs. profit

Profit versus revenue is another important distinction. Online “gurus” use this distinction to build a false sense of trust.

For example,

Many shady people sell online courses and about how to build a successful e-commerce store. People may claim, “My e-commerce store did multiple six-figure revenues last year!”.”

This sounds impressive on the surface. However, it really means nothing. As far as we know, this person made \$700,000 in sales. But we are spending \$699,000 sourcing his products and making sales. In other words, even though he made six figures in revenue, he only made four figures in profit. It is easy to understand “figures” themselves. It is the extra terminology that is confusing.

## How much do six figures mean in money?

In money, six figures are any amount between \$100,000 and \$999,000. That’s an extensive range. Using modifiers like low-, mid-, high-, and multiple six figures will help people understand More specifically, how much money is 6 figures:

• Low six figures: \$100,000 – \$399,999
• Mid six figures: \$400,000 – \$699,999
• In more specific terms, six figures is: \$700,000 – \$999,999
• Multiple six figures is: \$200,000 to \$999,999

It is reasonable to assume low six figures if none of these modifiers are used. The person will be motivated to add the modifier to make themselves look better when it is more. A person earning high six figures belongs to the top 1% of earners in the U.S.

### A six-figure income is how much per month?

• Divide the annual income by 12 to determine six figures per month. This gives us a wide range. However, the minimum monthly income to earn six figures would be \$8,333.33.
• Remember that you are technically back to five figures after taxes at this amount. According to how you interpret the question, “How much is 6 figures monthly? “— it could mean something else.
• Another meaning is, “How much do you earn per year if you earn 6 figures per month?” For a 6-figure monthly earner, the minimum annual income would be:
• \$100,000 per month x 12 months equals \$1,200,000 per year And the maximum would be Monthly \$999,999 x 12 months equals \$11,999,988
• Figures involve many assumptions, so you have to use context to understand their meaning.

### A six-figure salary per day is how much?

To join the six-figure club, you must earn at least \$273.97 every day. Calculate how many six figures per day by dividing the annual six-figure income by 365 days. This assumes you earn every day of the year.

The calculation looks like this:

\$100,000 per year / 365 days equals \$273.97 per day Most people do not work every single day (unless it is passive income). Let’s see how much you’d have to earn per day. A 100k annual salary / 262 days equals \$381.68 per day. In order to earn six figures without burning out, \$381.68/day is a good starting point.

### How much do 6 figures an hour cost?

You would need to earn at least \$47.71 per hour if you worked eight hours per day. 381.68 dollars per day divided by 8 hours equals 47.71 dollars per hour You will need to earn at least \$47.71 an hour if you work overtime (or part-time).

### How common is it to earn a 6-figure salary?

Based on your current salary, \$47.71 might seem attainable. Or out of reach. The IRS reported that only 19% of American workers earned six-figure incomes in 2019. As you’ll see, being wealthy doesn’t even require a six-figure salary.

## What are some jobs with six-figure salaries?

Typically, six-figure jobs fall into one of two categories:

• A traditional high-paying career requiring special education, training, or experience
• Entrepreneurial jobs

• Pay varies by city – in expensive cities, a wider variety of jobs earn six figures.
• As these are median salaries, half of the workers earn more than the stated amount.

#### 1. Actuaries

Business actuaries calculate risks and make financial predictions for companies. They often work for insurance companies, but they can also work in other fields.

Median wage: \$111,030

#### 2. Airline pilots

Even pilots who don’t have a college degree earn six-figure incomes with years of experience. Also, it allows you to see the world, making it one of the best jobs for travel enthusiasts.

Median wage: \$186,870 (varies widely by state, airline, and years of experience)

#### 4. Physicians

In the United States, physicians are among the highest-paid traditional occupations. Those who specialize in surgery (of any kind), anesthesia (of any kind), cardiology (of the heart), radiology (of the body), and other highly skilled areas earn mid to high six figures. For unspecialized primary physicians (lowest paid), the median wage is \$243,000; for neurosurgeons, it is \$622,201.

#### 5. Lawyers

One of the reasons lawyers can command rates above six figures is their outrageous hourly rates. An attorney’s salary is influenced by the type of law, location, education, track record, and marketing skills.

Median wage: \$122,960

#### 6. Financial managers

The financial manager is responsible for the finances of large companies – creating reports, directing investments, etc. It’s easy to see why financial managers are paid so well since their decisions for giant companies can have billion-dollar consequences.

Median wage: \$134,180

#### 7. Software developers

A skilled software engineer can easily make six figures as a freelancer or directly for a company.

Median wage: \$110,140

### Six-figure jobs in entrepreneurship without a college degree

Most traditional jobs – those that require years or decades of study or experience – are all in the low six-figure range. Unexpectedly, the jobs with the highest six-figure salary potential do not require any formal education. Salaried jobs typically do not require formal education. They are capped.

#### 1. Bloggers

Bloggers are earning low- to high- six-figures (and more) in just about every niche you can imagine. You’ll see that six-figure blogger often generate multiple streams of income, and their blog becomes the “hub” that connects them all.

For many kids these days, becoming a Youtuber is their dream job – and for a good reason. Big audiences can mean big earnings for YouTubers.

#### 3. Podcasters

Podcasters can also earn six figures and beyond, just like bloggers and YouTubers.

#### 4. E-commerce store owners

With an online store, your income is limited only by the number of products you can sell. Because of the internet, Shopify offers a lot of free training materials for this type of business.

#### 5. Freelance writers

Freelance writing is strange. Some people earn peanuts. Others earn well into the six figures. (To an extent) writing ability doesn’t determine success or failure. It depends on the type of writing you choose, your connections, and your willingness to market yourself. If you are interested in earning six figures with freelance writing, I cannot recommend the CMC course enough.

#### 6. Drop servicers

Freelancing on steroids is drop servicing. Freelancing pays according to how many projects you can complete each day.

Drop servicing has no such limitations. Your strategy is to land clients and outsource all the work instead of doing it yourself. Your income is only constrained by how many clients you can land.

### Examples of six-figure earners

Instead of listing out random six-figure earners who don’t mean anything to you, I’ve rounded up some people from different fields who can teach you how to emulate their success. All of the following courses have been taken by me (and I highly recommend them).

## How does a 6-figure lifestyle look like?

If you think of a 6-figure lifestyle, you may think of big houses, fancy cars, and plenty of extra cash at the end of the month.

A 6-figure lifestyle is certainly possible, but it is dependent on many different factors:

A \$100,000 income will not get you far in places like San Francisco. However, if you earned \$100,000 living in Thailand, you would live like a king.

Many six-figure earners in the U.S. feel broke despite their incomes. Therefore, a substantial portion of those earnings is used to pay off student loans each month.

The fact is, student loans and rising living costs are only a few pieces of the puzzle. Six-figure earners usually struggle because of lifestyle creep. As your income increases, you level up your lifestyle and expenses to match it.

Instead of using it to save more money each month, the first thing you do with a raise is leased a fancy new car. It becomes the new “normal” to have that car (and the expenses that come with it).

You will have zero dollars in the bank if you make \$8,333.33 per month but spend \$8,333.33 on your lifestyle. Lifestyle creeps the number one enemy to building wealth.

### How much money do you need to build wealth?

Keeping your monthly expenses below your income is a good way to keep your finances in order.

## What is a Six-Figure Salary?

A six-figure salary is not uncommon in the corporate world. A minimum salary of \$100,000 is considered a six-figure salary. Five-figure salaries are earned by people earning less than that, but at least \$10,000. You have a seven-figure salary when you earn a million dollars (and obviously a great job).

What person would not want to earn lots of money? Wouldn’t it be nice to receive a six-figure salary? Winning a job is often determined by the salary. Professionals, in general, are constantly on the lookout for jobs with lucrative compensation and benefits.

#### Actuary

Actuaries help insurance companies reduce costs by assessing risks using statistics and mathematics. Their average salary is \$100,610 as of 2018. Most actuaries hold a bachelor’s degree in mathematics, statistics, or actuarial science. These professionals often take programming and database courses as well.

#### 1. Finance manager

Finance managers develop strategies for keeping companies financially sound and stable. They are employed by banks, insurance companies, and other organizations. Among finance managers, the median six-figure salary is \$121,750.

#### 2. Internist/internal medicine physician

Internists, for example, earn a median salary of \$182,370 per year. Physicians and other medical professionals spend many years in school.

Graduates of a medical school and a bachelor’s degree are required for doctors. They also undergo three to seven years of internship and residency training.

#### 3. Petroleum engineer

The petroleum engineer is responsible for developing techniques for extracting oil and gas from the earth’s surface. An average six-figure salary for them is \$128,230 per year. A petroleum engineer in an oil company needs a bachelor’s degree in petroleum, civil, chemical, or mechanical engineering.

#### 4. Software developer

Nowadays, when everything is digital, software developers are always in demand. A median six-figure salary for an app developer is \$102,280 per year. App developers typically hold a bachelor’s degree in computer science. Many professionals succeed in this field without a degree.

### More Resources

I appreciate you reading CFI’s guide to a six-figure salary. CFI offers the Financial Modeling & Valuation Analyst (FMVA) T.M. certification program. The following resources will help you keep learning and advance your career:

• Earnings per year
• ESOP (Employee Stock Ownership Plan)
• The Salary Guide for Finance and Business

### FMVA certification program

Develop your career in investment banking, private equity, FP&A, treasury, corporate development, and other areas of corporate finance.

## How Much are 6 Figures in Money?

Yes, it’s a lot of money! Despite the lack of consensus on what constitutes low, mid, and high six-figure incomes, common mathematical sense suggests:

• Low six-figures = \$100,000 to \$399,999
• A mid-six-figure income is between \$400,000 and \$699,999
• A high six-figure salary is between \$700,000 and \$999,999

In any case, I won’t be disputing how much money is six figures when I become a six-figure earner!

## Why Do Six Figures Matter?

Reaching a six-figure income is a major milestone, a life goal, a dream for most people. This does not always mean that someone is bringing home millions of dollars.

### How Much is 6 Figures a Year?

From \$100,000 to \$999,999 is considered a six-figure income. The range of incomes is extensive, and it only gets wider as you gain wealth.

The majority of people can live comfortably on a much lower income, so this is more of a ‘bragging rights’ income level that most people will never reach.

Divide the total income by 12 (number of months in a year) to get the total income broken down into a monthly income.

With an annual income of \$200,000, your monthly salary would be \$16,667.  A \$900,000 annual salary translates into a monthly take-home pay of \$75,000 per month.

## How Does a 6-Figure Lifestyle Look Like?

Obviously, a six-figure salary is a significant income. Several things will determine how far it stretches and what lifestyle it will afford.

This includes:

• You live in
• the size of your family
• the way you choose to live
• which end of the six-figure scale you are at.

You will need a significant amount of income to survive in London or New York as opposed to somewhere less famous.

Depending on how expensive your day-to-day lifestyle is, you can calculate how many six figures in money.

For example,

In Silicon Valley, California, \$100,000 is considered a low income. Those with six-figure incomes can still find themselves living paycheck-to-paycheck without sound financial advice and investments. From a global perspective, having \$100,000 in cash or investments would place you in the top 10% of the world’s wealth.

## Jobs with six-figure salaries

Only about 9% of Americans earn six figures or more. The media frequently focuses on celebrities and their extravagant lifestyles, but this level of income is still very rare anywhere in the world. Traditionally, six-figure jobs require multiple years of college study and often involve senior management or business ownership.

The following qualifications will earn you excellent money, but they will also cause you to incur significant student loans:

## Jobs with six-figure salaries that do not require a degree

Remember the question we asked earlier: how much are six figures? People who earn six figures may not have spent years and years at college at great cost to their future selves.

Some people are born into money. Some people inherit money. Other people earn money through hard work. And then there are those who win money.

It is different from inheriting \$100,000 when you earn \$900,000 through your work. In order to protect their income, many higher earners create passive income, diversify their income streams, and use long-term investments with high yields. 77 occupations in the U.S. earned six-figure salaries in 2018, according to USA Today.

Following is a list of some of them. Some require college degrees, but entrepreneurs will find they can grow a six-figure business without a degree:

• Here’s my guide to getting started as a blogger
• Air Traffic Controllers (\$124k+)
• Commercial Pilots (\$161k+)
• Web Developers (\$110k+)

Many of them are graduates. In contrast to medicine, for example, you can make excellent money in these roles without graduating from college. Since many of these careers are on the entrepreneurial end of the spectrum, you should also evaluate the risk versus reward of each job. Traditionally established jobs are less risky since you become an employee or work in an established setting or company.

### People Who Earn Six Figures

One could find individuals consistently commanding six-figure incomes in the corporate world, as well as education executives and medical specialists at this income level. The entrepreneurial world has two obvious spheres where you can easily find six-figure earners: bloggers and YouTubers.

Bloggers like Edwin Contreras and YouTubers like Rich Ferguson: He then progressed through stages, honing his craft as he began to sell products through his first blog and make small amounts of money from it.

He became a six-figure earner since moving into the health and wellness niche.

• YouTuber Rich Ferguson creates videos showing him doing pranks, conducting social experiments, sharing tips, and performing magic tricks.

## What does a six-figure salary really mean? Six factors that influence your income

The value of your payment will vary depending on many factors, even if you earn a six-figure salary.

Therefore, you don’t have as much take-home pay as you think! When these factors are taken into account, how much is a 6 figure salary really worth?

#### 1. Credit card debt

It can be a lot to earn a six-figure salary unless you are drowning in credit card debt. High-interest debt can eat away at your earnings quickly, leaving little left at the end of the month.

#### 2. Student loan debt

Americans are constantly burdened by student loan debt. If you take out a lot of student loans to fund your education, you will have a lot of debt to pay off. You may have needed an expensive education in order to land a high-paying job.

Your student loan debt doesn’t disappear when you get a high-paying job. Rather, it eats away at your earnings as you earn a high income. Your student loan debt can drain your income for decades if you fail to make a plan to deal with it

3. Where you live

Living costs vary greatly across the country. For example, Washington, D.C., New York City, and San Francisco have high costs of living.

For example, in New York City, a one-bedroom apartment costs \$3,805 a month on average. If you spend more than \$45,000 a year on just the rent at your apartment, then the other costs can add up.

In contrast, Orlando, FL. has a lower cost of living. Orlando’s average price for a one-bedroom apartment is \$1,060. Renting an apartment for under \$15,000 allows you to stretch your big paycheck further.

A high income in an area with a low cost of living can be more lucrative than a high salary in an expensive city.

#### 4. Happiness

Money is said to buy happiness, but is that really true? If you earn \$100,000 but are miserable at your job, you have a problem. Can a high salary make you happy if you are miserable at least 40 hours a week?

1.7 million people were surveyed, and it was determined that emotional well-being occurs between \$60,000 and \$75,000 in a salary range. Therefore, earning more than that will not make you happier.

5. Time

Every day, we have 24 hours to use as we wish and only a limited number of days in our lives. What we do with those days determines how happy we will be.

The majority of people who earn a six-figure salary work 60 to 80 hours a week in the office. Those hours are taken away from the rest of your life. You might want more time to spend with your family, cultivate a hobby, or simply relax for an afternoon.

For instance, you might not cook meals at home to save time or skip exercising because you don’t have time. These small choices can add up to a lifestyle that cuts into your salary.

#### 6. Taxes

Every dollar you earn will go to Uncle Sam and his friends. Your take-home pay is what counts, not your gross income. However, that figure may be disappointing after taxes.

Let’s say you make \$100,000 pre-tax on a six-figure salary. Using the 25% tax bracket, your income would be \$75,000. Although \$75,000 is still a lot of money, it is a lot less than \$100,000!

You may have to pay different taxes depending on where you live. Learn more here about how much taxes will cost you each year.

## To build wealth, do you need a six-figure salary?

Most people do not achieve their six-figure salary dreams. Are most people unable to attain financial security as a result of that? Certainly not!

Building wealth over time will result in savings. In contrast, you won’t build any wealth if you spend your entire salary. Say, for example, you earn \$100,000 per year and spend it all.

Are you really better off than a person who earns \$50,000 but is able to save \$10,000 each year? Long-term, the answer is no. Although you may enjoy the luxuries of a “rich” life, your children will be able to live a comfortable retirement.

### How to build wealth without earning a six-figure salary

Creating wealth is not easy, but it can be done. While building wealth requires hard work and dedication, it is possible. Follow these steps.

Wealth building is a long-term process. To achieve it, you will have to work hard. There will be times when you will need to say no to your immediate wants in order to fund your long-term goals.

You might have to eat at home more often, forego a shopping spree, or drive an older car. Taking steps in the right direction is perfectly reasonable. It can be difficult to stay on track if there is no goal in mind.

### 2. Pay off debt

You would be better off investing all of your money towards your debts each month to build long-term wealth.

It would help if you examined your debts more closely. To figure out how much you owe, write down exactly what you owe on a single sheet of paper.

One of the most important things you can do to build wealth is to save money. The creation of an emergency fund is a good start, but building wealth goes beyond a few thousand dollars. Take your future goals into account.

Are you willing to work hard for another 40 years? Do you have enough wealth to live a work-optional lifestyle? If you want to retire someday, saving money now is critical. Saving money may be difficult, but any bit counts. Start saving small amounts over time.

Saving and investing your money is equally important. By investing, you can grow your money over time. As your investments grow, you will be glad you invested.

Consider planning out your investment strategy if you do not know where to start investing.

You can achieve wealth, but more income is needed to fuel your growth. Start by asking for a raise. Salary negotiations with your employer can be nerve-wracking, but they can also be rewarding. You can earn more if you put in the same amount of effort.

Additionally, you will gain self-confidence when you stand up for yourself. By starting a side business, you can boost your income. With a successful side hustle, you can boost your income.

## Conclusion

The most important factor in accumulating wealth doesn’t have a high income. The most important factor is what you do with your income. If a very high salary is spent on living expenses, it won’t go very far in the long term. Even if you make less than six figures, building wealth today can make you feel rich.

## FAQs

### How much is a 6 figure bank account?

Six-figure earnings range from \$100,000 to \$999,999, and when people use this term, they’re typically referring to the income someone earns from their job or business.

### Is it hard to make six figures?

You can build wealth without a six-figure salary.
Creating wealth is not easy, but it can be done. Building wealth may take hard work and dedication, but it is possible.

### How much is a 6 figure income?

There are six-figure salaries in the corporate world. This means you make at least \$100,000 per year. Those who earn less than that but at least \$10,000 have a five-figure salary. Having a million dollars in your pocket means you have a seven-figure income (and a great job).

### How much are six-figure a year?

Six-figure salaries are what? An annual income of \$100,000 to \$999,999 is considered six figures.

The median salary for app developers is \$102,280 per year. Computer science graduates are typically employed as app developers.

### How much money is six figures?

A six-figure income can range from \$100,000 to \$999,999. There is an incredibly wide range of income, and it only gets wider as you become more wealthy.