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Some people in the world earn serious money. The word figure merely corresponds to a number. Just about everyone wants to be making big bucks annually. However, do you know how much different kinds of figures are?
Figures of income are digits in the money that is earned. 6 figures is $100,000-$999,999, 7 figures is $1,000,000-$9,999,999, 8 figures is $10,000,000-$99,999,999, 9 figures is $100,000,000-$999,999,999, 10 figures is $1,000,000,000-$9,999,999,999, and 11 figures is $10,000,000,000-$99,999,999,999.
When seeking employment, income is one of the deciding elements. Many, if not all, workers are constantly searching for positions that offer perks and a competitive salary. Here is how much money figures 6, 7, 8, 9, 10, and 11 are.
Here Is How Much Money Income Figures Are
In English, a number with a specific number of digits can be represented by the word figures, particularly when discussing money. Therefore, this might be any number in the range of a hundred thousand, million, billion, etc. However, keep in mind that all the figures mentioned are annual salaries rather than monthly ones.
What Is A 6-Figure Income?
The phrase the position offers a six-figure pay denotes a compensation of a minimum of 100,000 local currency units per year. $100,000 is the lowest six-figure salary. The greatest six-figure salary is $999,999. Seven digits are earned on a million-dollar salary. A 6-figure income is, therefore, at least $100,000 but not more than $1,000,000 per year.
A highly middle-class income now is $100,000. Previously, it denoted a luxurious lifestyle. Today, even $250k might make you feel as if you’re barely getting by. Achieving a six-figure earning is a goal for many people. While it may not be a significant amount in some regions, it can be in others.
Breaking the yearly $100,000 threshold in your profession is viewed as an achievement. It is not always simple to accomplish, though. Many of the highest-paying positions need years of experience or formal academic degrees.
However, what would it be if it were monthly? For $100,000, the monthly amount is $8333,33, and the monthly amount for the greatest figure of 6 is $83 333,25. The typical worker does not begin earning six figures in income until they’re in their 30s. Although there isn’t a set average age for six figures, Americans older than 30 are typically more likely to earn six figures because of their expertise.
What Is A 7-Figure Income?
In the world of finance, a 7-figure income is in the millions. A 7-figure salary falls between $1 million and $9,999,999. Suppose you are wondering what the monthly amount is. In that case, it ranges from $83 333,33 to $833 333,25. A 7 figure income is a pretty steep income.
Everyone naturally wants a job or profession that offers a decent paycheck. However, the truth is that very few individuals will ever achieve this level. Even though making seven figures is difficult, it is not impossible. Getting your first million in your bank account is thrilling and exhilarating.
However, due to the increased standard of living, many say that a 7-figure income is now the new 6-figure income. Even with that being the case, it does not take away from the fact that 7 figures are substantial compared to 6 figures, particularly the $9,999,999.
What Is A 8-Figure Income?
A salary in the 8 figures falls between $10 million and $99,999,999. 8 figure income earners are on the upper echelon of millionaires yet miss the mark of billionaire status. People who achieve this status are called multimillionaires and belong to a particular income group more diminutive than the ones mentioned above.
The wealthy have more leeway in purchasing and lifestyle choices when earning this much money annually. 8-figure earners can often afford to spend their earnings on wants and wealth creation opportunities to keep increasing their wealth. Therefore, many people would view an income range of 8 figures as being in terrific financial shape.
What Is A 9-Figure Income?
A 9-figure income falls between $100 billion and $999,999,999. Many well-known people have a variety of sources of income and assets to maintain their high levels of wealth and net worth. An uncommon status and a common aspiration for many people globally is to become multimillionaires.
Even though it’s challenging to get jobs with salaries this high, many well-known people in prominent professions do. Those who possess considerable wealth frequently make wise financial decisions to increase their investments in lucrative prospects. If you make this much money, one can live a luxurious lifestyle.
What Is A 10-Figure Income?
A 10-figure income is one that falls between $1,000,000,000 and $9,999,999,999. Interestingly, professions with 10-figure salaries are not your day-to-day jobs. That is to say, you cannot earn a 10-figure income by simply going into an office and working a 9 to 5.
Earning a hefty amount of money like that requires a crazy amount of work that frequently starts with modest beginnings and comes with its fair share of difficulties. Low, mid, and high ten figures are the three levels of a ten-figure income.
What Is A 11-Figure Income?
You have $10,000,000,000 to $99,999,999,999, or eleven thousand million when you earn an 11-figure income. This is commonly referred to as 10 billion. The scientific community agrees that 1,000,000,000 is a billion instead of a thousand million, which is somewhat of an Americanism.
Here is a table showing how much the different figures are.
|How much each figure is
Do Many People Earn 6, 7, 8, 9, 10, And 11 Figures?
Although it is simple to do, wealth creation is not easy. You can amass wealth, but it will take effort and commitment to fulfill your objectives. Thus, the reason why not a high percentage of people earn money in the figures between 6 to 11.
In order to figure out just what percentage of individuals make each of the figures mentioned above, one needs to look at what they earn in a day, including and excluding weekends, to get a general idea. Considering that, it is clear that making six figures is not typical.
According to IRS tax data, only 19% of American workers individually made six figures in income in 2019. One percent of people worldwide earn more than $37K per year. What is the typical wage in America? 2019 saw a $51,916.27 average yearly salary in the US, with a median salary of $34,248.45.
Therefore, only a small percentage of people earn 6 to 11 figures. Those in the 1 percent usually do not earn a salary of 9 or 10 figures. That figure has to do with their net worth built over the years due to having other income streams or having started a business.
What Jobs Earn You 6, 7, 8, 9, 10, and 11 Figures?
Often, there are no magical secrets to making 6, 7, 8, 9, 10, or even 11-figure earnings. Having extensive education is the surest path to landing a high-paying career. It does not follow that this is the sole option.
The next obvious step to earning a six-figure wage is gaining in-demand talents, just like in the technology field, where some businesses hire applicants without a degree. Unless you win the lottery, reaching these figures income-wise can take a lot of hard work and consistency. Here are some of the jobs where people earn money in those figures.
Jobs That Pay 6 Figures
In today’s world, where everything is going virtual, software developers are always in demand. The average six-figure pay for app developers is above $100 000 per year. The task of developing methods for extracting oil/gas from the soil falls to engineers. They earn a typical six-figure salary of roughly $100,000 annually.
Finance managers are employed by insurance firms and other businesses and are in charge of creating plans to maintain the company’s financial stability and soundness. Human Resources managers, Medical or Health Services managers, Real Estate, Information Technology managers, and many other fields offer some of the highest paying careers with annual salaries over six figures.
Find a job that pays more than $8,333 monthly if you want to make a six-figure income
Jobs That Pay 7 Figures
Creating your own firm is the most typical way to earn a lot of money. There are countless opportunities and numerous business opportunities available to you, and entrance hurdles are frequently relatively cheap. At the same time, since online firms are so well-liked, there can be fierce competition.
People frequently start off with six-figure salaries before investing the excess money in high-yielding portfolios and other assets like real estate in order to reach seven-figure income levels. However, if you are not an entrepreneur at heart, there are some other jobs where the workers get paid 7 figures.
Although less typical than making six figures, getting a seven-figure paycheck is nevertheless possible in many situations, including through moving up the corporate ladder. One big sector is the services sector. Experts in the scientific or technical field usually earn 7 figures. The others are Construction, Finance, e-Commerce, and Real Estate.
Jobs That Pay 8 Figures
Even if very few positions pay an 8-figure wage, people who work hard in the correct fields can still get them. Here are a few eight-figure employment examples.
Half of the salaries above and below the median for Fortune 500 CEOs are paid at $11 million annually. This comprises an average salary of $3.6 million, bonuses and stock awards totaling $4.0 million, and a vested stock option of $3.4 million.
Famous actresses and actors are some individuals who easily earn 8 figures. Stars receive tens of millions of dollars because their participation in a movie ensures hundreds of millions. For example, the highest-paid movie actor was Dwayne Johnson, who received $65.4 million in 2016.
High-profile athletes are some of the individuals that make 8 figures. Depending on the sport and how much they are regarded as having an impact on culture, professional athletes can make a range of salaries. The income an athlete receives directly from competing is based on: How well-liked a sport is and how many players there are.
Most athletes also have endorsement contracts, which can pay much more than their base salary. Top earners typically make a lot more money through endorsements than from their salaries or contracts. Tiger continued to earn from endorsement deals even after quitting golf for years.
Unsurprisingly, entrepreneurs of unique businesses or product ideas earn 8 figures as well. Innovation is critical in breaking through the business industry to earn millions.
Jobs That Pay 9 Figures
People can achieve enormous riches by working in high-profile professions and businesses. However, many people have net worths in this range, even though I imagine it’s pretty unlikely that it is all from a salary. Your total assets are subtracted from all your liabilities, what you owe, to get your net worth, which is what you own.
Your net worth is positive if your assets are greater than your liabilities. You have a negative net worth if your liabilities exceed your assets. Remember that your net worth will fluctuate throughout your adult life in response to income changes and spending patterns. Most of the time, when someone earns this much money, they operate a sizable business-like Elon Musk or Jeff Bezos.
Despite these men’s enormous wealth, it’s likely that their salaries in their respective jobs aren’t even close to that. For example, professional athletes are considered highly wealthy, with net worths reaching the 9-figure mark.
But many athletes come close to making nine figures thanks to sponsorship deals and other income streams outside their sport. Several billionaires that earn 9 figures are involved in professional sports leagues, the entertainment industry, and are seasoned business executives of huge organizations.
Jobs That Pay 10 Figures
To start with, no one position will bring in a billion dollars for you. However, there are some occupations, positions, and organizations where this kind of income is feasible, such as technological firms, large fortunes inherited, influential media people, and businessmen.
As the actions and mannerisms of businessmen are studied, it becomes clear that anyone with a brilliant idea and a healthy dose of tenacity could convert that idea into a very successful company that generates figures above $1 billion in revenue.
Take a look at famous start-ups to give you an idea of how one can earn a 10-figure salary. You will notice that they didn’t start earning billions from the get-go. A gradual increase in earning took place as milestones were passed and goals were achieved. The more popular these businesses became, the more the business net worth rose.
For example, Mark Zuckerberg co-founded and served as CEO of the huge social media platform Facebook. Mark’s personal net worth is around $134 billion, while the corporation has an equity worth of about 128 billion.
When he was a student at Harvard University, where Facebook was founded, it only served a small number of nearby campuses. That was in 2004, when he was 19 years old, before the website grew to have a billion users in 2012.
Jobs That Pay 11 Figures
Ten-figure wages don’t really exist in the traditional sense of the word. There are, nevertheless, a small number of people whose net worth grows by ten figures annually. The royal family, tech titans, and philanthropists are among them.
Unexpectedly, top CEOs and IT billionaires who make 8, 9, and 10-figure salaries frequently forego taking compensation. Instead, they are given a compensation package. This includes stock options from the corporation. Consequently, they make money when the business succeeds.
How Do Individuals Make 6 Figures And Above?
Multiple methods exist for making 6 figures and above. Most people make this kind of money from their salary at their place of employment. Some people can make a solid income by working a 9 to 5 job. In addition to attending school or holding a conventional job, many teenagers and young people choose to launch a side business or career.
This is turning out to be highly profitable. Many people who launch these side businesses make hundreds of dollars more each month. Your prospects of earning seven figures increase as you generate more sources of income.
Yes, one income stream has the potential to be worth $1 million. However, putting all your monetary hopes in one basket or focusing on just one income stream is a little dangerous. You must invest in alternative income streams in addition to earned income, where you trade your time for money to free up time and achieve financial independence.
The biggest way to do this is through passive revenue, which you can produce, for instance, by focusing on rental property, trucks, billboards for hire, etc. If you have an entrepreneurial streak, find a niche and run with it. Your earnings are directly impacted by the goods and services you provide, and a 7 figure business is possible if you concentrate on price, value, and demand.
Consider offering expensive goods, services, or bundles to draw in several new customers. New goods and services are an excellent method to increase your income in the coming year and decade. Always revise your business plan and try to come up with new products. Customers will value it if you give them more worthwhile options, which will help you grow your company.
When exhibiting your company and what you have to offer to a broad spectrum of potential customers and clients, it’s crucial to use the media. Make sure to target a particular audience, and don’t hesitate to change who your ads are directed at. Be confident and clear about what you have to offer, and sales will probably rise.
You’ll have a far higher chance of becoming a millionaire if you hang out with other millionaires. It doesn’t matter if the people you associate with are on a similar career path as you, as long as their ethics and wealth motivate you to achieve more. This advice has been given by almost every successful entrepreneur for a good reason as it is crucial.
For the sake of financial progress, relocation could occasionally be the greatest option. It might be something to think about, depending on the kind of business you’re in and where you happen to live. Basically, the goal is to look into the different opportunities available around you. the recommended number of income streams to have is 5.
Do The Income Figures End At 11 Figures?
By now, we should know that anything is possible. If you thought the income figures ended at 11 figures. Think again. It comes as no surprise that there are also 12 figures. No, you didn’t read that wrong. People are presently earning 12 figures) as of July 2020.
You are worth either $100,000,000,000 ($100 billion) to $999,999,999,999 ($999.99 billion) if you have 12 figures. There aren’t many persons with net worths in this area, but there are a select few like Jeff Bezos or Elon Musk, etc. Not only are there 12 figures, but there are also 13 and 14 figures.
Your value or worth is 13 numbers, which ranges from $1,000,000,000,000 ($1 trillion) to $9,999,999,999,999 ($9.99 trillion). Apple, Microsoft, and Amazon are just some of the businesses with a market capitalization of 13 figures.
14 figures, on the other hand, means that your value or worth is anywhere between $10 trillion ($10 trillion) & $99 trillion ($99.99 trillion). Currently, the US national debt is 14 digits.
Figuring Out Different Figures
As you can see, each figure is a different amount of money. Figures 6, 7, 8, 9, 10, 11, 12, 13, and 14 all range from hundreds of thousands to millions and trillions. There are different types of jobs that each lead to different figures being earned. Passive income and investments usually lead to higher income figures than just one income stream.