What Does 6-Figure, 7-Figure, and 8-Figure Mean? A Guide to Understanding Figures in Terms of Money
Updated: Mar 30, 2023
In the world of finance and income, the term "figure" refers to a single digit in a monetary amount. When discussing income, phrases like "6-figures" or "7-figures" denote the range of money someone earns annually. In this article, we'll dive into the details of different figure-based incomes and the jobs that command them.
How Much is 6-Figures?
A 6-figure income falls within the range of $100,000 to $999,999 per year. This income bracket is often associated with high-paying professions and successful entrepreneurs. Here is a list of jobs that typically make 6-figures annually and their average pay, along with some examples of individuals in these roles:
Software Engineer - $105,000
Example: Jane Smith, a senior software engineer at Google, earns approximately $130,000 per year.
Pharmacist - $120,000
Example: John Doe, a pharmacist at CVS Pharmacy, makes around $118,000 annually.
Physician Assistant - $110,000
Example: Emily Brown, a physician assistant in a private clinic, earns an annual salary of $112,000.
Data Scientist - $115,000
Example: Michael Johnson, a data scientist at IBM, has an annual salary of $120,000.
Dentist - $160,000
Example: Dr. Sarah Lee, a dentist with her own practice, makes around $175,000 per year.
How Much is 7-Figures?
A 7-figure income ranges from $1,000,000 to $9,999,999 per year. This level of income is usually reserved for top executives, successful business owners, and high-profile professionals. Here are a few jobs that typically make 7-figures annually and their average pay, along with some examples of individuals in these roles:
CEO - $1,500,000
Example: Mary Barra, CEO of General Motors, earns around $2,100,000 per year.
Professional Athlete - $2,000,000
Example: Stephen Curry, an NBA player for the Golden State Warriors, makes around $43,000,000 annually.
Surgeon - $1,200,000
Example: Dr. James Andrews, a renowned orthopedic surgeon, earns an estimated $1,800,000 per year.
Hedge Fund Manager - $1,500,000
Example: Ray Dalio, the founder of Bridgewater Associates, makes around $2,000,000 annually.
Movie Star - $3,000,000
Example: Jennifer Lawrence, a Hollywood actress, earns approximately $15,000,000 per film.
How Much is 8-Figures?
An 8-figure income spans from $10,000,000 to $99,999,999 per year. These stratospheric earnings are typically reserved for the most successful entrepreneurs, top-tier celebrities, and high-powered executives. Here is a list of jobs that typically make 8-figures annually and the average pay, along with some examples of individuals in these roles:
Tech Company Founder - $15,000,000
Example: Elon Musk, the founder of Tesla and SpaceX, earns an estimated $23,760,000 per year.
World-Class Musician - $20,000,000
Example: Taylor Swift, a successful pop artist, made around $36,000,000 in 2021.
Top-Performing Venture Capitalist - $25,000,000
Example: Jim Breyer, a venture capitalist at Breyer Capital, has an annual income of approximately $30,000,000.
A-List Hollywood Actor - $30,000,000
Example: Dwayne "The Rock" Johnson, a top-grossing actor, earned around $87,500,000 in 2020.
High-Profile Athlete - $50,000,000
Example: Cristiano Ronaldo, a world-famous soccer player, earned approximately $105,000,000 in 2020.
How Much is 9-Figures?
A 9-figure income ranges from $100,000,000 to $999,999,999 per year. This astronomical level of income is incredibly rare and usually associated with business moguls, tech titans, and the world's wealthiest individuals. Here are a few jobs that typically make 9-figures annually and the average pay, along with some examples of individuals in these roles:
Global Conglomerate CEO - $200,000,000
Example: Bernard Arnault, the CEO of LVMH, earned around $112,000,000 in 2020.
Billionaire Investor - $300,000,000
Example: Warren Buffett, the chairman and CEO of Berkshire Hathaway, made approximately $280,000,000 in 2021.
Top Tech Giant Founder - $500,000,000
Example: Jeff Bezos, the founder of Amazon, earned around $171,600,000,000 in 2020.
Prominent Media Mogul - $400,000,000
Example: Oprah Winfrey, a media mogul and television producer, had an annual income of approximately $300,000,000 in 2021.
How You Can Make More Money!
If you're looking to boost your income, consider these five side hustles that can help you make more money:
Freelance Work - Offer your skills in writing, graphic design, or programming as a freelancer through platforms like Upwork or Fiverr.
Online Tutoring - Teach a subject you're passionate about through online tutoring platforms like Tutor.com or Wyzant.
E-commerce - Start an online store on Etsy or Amazon, selling handmade products or reselling items for profit.
Affiliate Marketing - Promote products or services through your blog or social media channels and earn a commission for each sale.
Rideshare Driving - Sign up for Uber or Lyft and earn money
Conclusion
Understanding the various income brackets, from 6-figures to 9-figures, sheds light on the earning potential of different professions and industries. While it's essential to have realistic expectations, don't be afraid to dream big and explore various opportunities to boost your income. Whether it's through pursuing high-paying careers or embarking on lucrative side hustles, there's no limit to what you can achieve with hard work, dedication, and perseverance.
