I always hear people around me claim making 6 figures as a salary
Well, according to Investopedia 52% of Americans and 58% of Canadians are in the middle class
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Middle class earn a salary starting from the high of 5 figures up to the low of 6 figures
Still confused and say but six figures is how much
Well I am ready to discuss with you all about figures in its simplest level
Let me start with the below
How much is a 1 figure?
First talking about how much is 6 figures
Let me start explaining what is a figure?
A figure is one digit and it is equivalent to a digit in numbers
It is called figure to represent a value of money
They are the same amount but the representation is different
For example, if I have 3.25 this 3 before the decimal is a digit
But if the amount is $3.25 this 3 is a figure as it represents monetary value
Are there 2, 3, 4 figure salary?
After knowing 1, 2 and 3 figures from the above image
I can say there are 2, 3 and 4 figure hourly salary
Lawyers can charge you 4 figures like $1,000 for an hour or two consultation
But if you are talking about 2,3 and 4 figure annual salary
This is impossible, nobody can survive with 2 and 3 figure annual salary
While with 4 figures, if I take the high end of it like $9,999
This can be an annual pension for someone who did not contribute many years of work power
How much is a 5 figure?
As shown below any 5 digits are called 5 figures salary like $65,000
By the way, this is a decent salary
5 figures can be from $10,000 to $99,999 – just count the digits
As I mentioned earlier, any decimal to the right will not change the figure naming
For example, $10,000.75 this is ten thousands and seventy five cents and it is still 5 figures
Keep in mind that any 2 decimals after the 5 figures will not change the naming for this salary
For example, if your salary is $45,720.75 this means that you make forty five thousands and seven hundreds twenty and seventy five cents
Seventy five cents will not change your salary figure, you still earn 5 figures salary
Is there 5 figure salary?
In fact, when you start working as a fresh graduate or someone with no degree
You will earn 5 figure salary like $36,000
5 figure salary is the default, question is where you are in the 5 figure salary scale
There is the low limit like $28,000 and the high limit like $98,000
How much is 6 figures?
6 figures start from $100,000 up to $999,999
This is a vast range so when a person claims that he/she earns six figures
My mind tends to think about the low limit of $100,000 like $102,000
Because in case of 5 figures all the 5 figures range reflect the middle class
For example, if you earn $99,999 you are still a middle class
Once you reach the 6 figures salary you start to move to the upper middle class
But wait, the six figures has also upper middle class and rich class
How much is 100k
100k stands for 100,000 where the K is a thousand
It is convenient to replace the 3 zeros ‘000' or the word thousand with K
So instead of writing 100,000 or 100 thousand, you write 100K
Is there 6 figure salary?
Yes there is lot of jobs that make you earn 6 figure salary
Starting from jobs in the IT (Infrastructure Technology) like $110-$120K and contractors who get paid by hours
Also Pediatrician, Dentists and Doctors they are in the range of $200-400K and sometimes they can reach the high end of 6 figures if they own their own clinics
Lawyers and some CEO for large corporate companies enjoy the high ceiling of $100 to $200K
Is making 6 figures possible?
Old generations used to say “getting a university degree in medical or other professionals is the only way to 6 figures income or salary”
But nowadays with the existence of internet, I hear many stories for bloggers who make 6 figures income from blogging
By blogging about what they are passionate
Blogging is one sort of income stream
There are also YouTubers – this is an expression of those who create their own YouTube channels and try to build their own subscribers base
How much is 7 figures?
7 figures is what is called a million like 1,000,000 is called one million
Is there 7 figure salary?
Very few people get paid 7 figures salary
Like the CEO for banks, financial institutions and insurance companies
Also most of the sports team trainers like
- Canadian Football League – (CFL)
- National Football League – (NFL)
- Major League Baseball – (MLB)
- National Basketball Association – (NBA)
- Major League Soccer – (MLS)
- National Hockey League – (NHL)
How much is 8 figures?
Since I told you that M stands for million so 8 figures is simply 2 digits million
For example, 12M is 12 million which you can expand it to 12,000,000
Is there 8 figure salary?
Well, according to Glassdoor Economic Research team when they analyzed the 500 companies
They found the average CEO salary is $13.8M per year
How much is 9 figures?
Same thing for 8 figures
The M is 6 figures so 9 figures is 3 digits or figures beside the million
For example, 325,000,000 is called three hundred twenty five million
And it can be written as 325M
Is there 9 figure salary?
Very rare to see someone earns 9 figure salary
Some movie stars made it like George Clonney who earned $239 million from June 2017 to June 2018
It will not be consistent but it can happen once in a lifetime
How much is 10 figures?
This is a 10 digit number, in other words this is the billion figure
It looks like 1,000,000,000 and it is written like 1B where B stands for billion
10 figures start from 1,000,000,000 to 9,999,999,999
Is there 10 figure salary?
There are so many people who have 10 figure fortune
This is not a salary but the accumulated wealth throughout their life
Mark Zuckerberg owner of Facebook has $98.6 billion US dollar
While Bill gates from Microsoft has $113.6 billion
Also Google's founder Larry Page has $64.6 billion and Sergey Brin has $62.3 billion
Michael launched Wealth of Geeks to make personal finance fun. He has worked in personal finance for over 20 years, helping families reduce taxes, increase their income, and save for retirement. Michael is passionate about personal finance, side hustles, and all things geeky.