We’ve all heard something like: “He has a six-figure salary”.
If you don’t know what having a 6 figure salary means, don’t worry. You’re not alone.
How much is 6 figures? Well, each digit in a number counts as one “figure”. Therefore, having a 6 figure salary or income means earning between $100,000 and $999,999 a year.
I’m going to explain what a “figure” means and how it relates to money.
How much is a figure?
Before we determine how much a figure is, we need to know WHAT it is.
The easiest way to figure out how much 6 figures is is to consider a “figure” as a “digit” or “number”. A figure is a digit in a number.
For example, the number 1000 has 4 digits so it’s a 4 figure number.
The number 10,000 has 5 digits, so it’s a 5 figure number. The number 100,000 has 6 digits, so it’s a 6 figure number and so on.
So how does that relate to money?
How much is 6 figures?
6 figures in money is any amount between $100,000 and $999,999.
When we say that someone makes 6 figures, that means they make over $100,000 a year but under $1,000,000 (1 million).
Is a six-figure salary good?
Having a 6 figure salary has been considered a benchmark of financial success for a long time now. According to Census Bureau data, in 2015 only about 20 percent of American households break the six-figure household income mark.
How much is 7 figures?
7 figures is any number between 1 million and 1 billion. Therefore, anything over $1 million dollars a year is a 7 figure salary.
Not many people make a 7 figure salary. In fact, most people who do make that much money either started their own company, are very high up in a large corporation, or are at the very peak of their field.
If you ever make this kind of money in a year, tell me your secret.
How much is 8 figures?
If you thought a seven-figure salary was a lot. Would you believe that there are people out there that make 8 figures?
What is an 8 figure salary?
Any yearly amount of money between $10,000,000 and $99,999,999 is considered an 8 figure salary.
So you’re probably wondering: what kind of people make 8 figures?
What jobs pay 8 figures?
Finding a job that pays 7 figures was hard enough. Making 8 figures is very rare. Here’s a list of jobs that can pay that and examples of real-life people who do get paid that much!
Take some inspiration.
Not all CEO’s make 8 figures, most make at least 6 figures though. However, if you’re the CEO of one of the S&P 500 companies, you’re almost guaranteed to make an 8 figure salary.
Here are the salaries of a few CEOs.
- The CEO of Chipotle, Steve Ells, makes around $29 million a year
- The CEO of Target, Brian C. Cornell, makes around $28 million a year.
- The CEO of Starbucks, Howard Schultz, makes around $21 million a year.
We all love to watch our favorite teams play. The athletes probably enjoy being paid to play. They’re one of the highest compensated individuals out there. The totals below include their salary, winnings, and any endorsement deals for 2017.
- Cristiano Ronaldo made $93 million
- LeBron James made $86.2 million
- Roger Federer made $64 million
Actors and actresses don’t really have a salary, they get paid depending on the roles they take during the year. These are some of the higher-paid movie stars of 2017.
- Mark Wahlberg – $68 million
- Dwayne “The Rock” Johnson (also my favorite actor 😃) – $65 million
- Emma Stone – $26 million
Hedge Fund Managers
Okay, so hedge fund managers make much more than 8 figures. They make 9 and even 10 figure salaries!
- James Simons – $1.6 billion!
- Ray Dalio – $1.4 billion!
- David Siegel – $750 million
So there you have it, you should now know how much 6, 7 and even 8 figures is.