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When we hear that someone is making over 6 figures, many think, “Wow, I wish that were me.” Some long term life goals include making a decent living to be able to travel, live in a comfortable home, provide for families, and so on. Does that mean we have to reach 6 or more figures to do so?
For some, the answer is yes. Making 6 figures or more could equate to a comfortable living.
If you are among those striving for a 6 figure or more income, there are some questions you may have before you can start building your empire. First off, there needs to be an understanding of what it means to make 6 figures, 7 figures, 8 figures, 9 figures, and even 10 figures.
You might have a goal in mind to make 6 figures, but until you know that actual dollar amount, that goal might seem like it’s unattainable. Knowing what kind of jobs are out there to bring in those figures is also something you may be wondering.
Let’s break down the difference in figures and look at the types of jobs with those salaries so that you can reach your goal!
How Much Money Is Each Change in Figure?
The range in each figure is broad. When you see a dollar amount, count how many figures are in that amount to the left of the decimal point. A figure is a single number. The difference from each figure ranges from the thousands to the millions.
How Much Is 6 Figures?
A 6 figure salary ranges from $100,000 to $999,999 per year (100 thousand to 999.99- thousand). A 6 figure full-time job would pay $49+ per hour.
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6-Figure Income Careers
Software developers and medical professionals (obstetrician/gynecologist, registered nurse, anesthesiologist, etc.) are among the top careers earning 6 figures.
To become a software developer, a degree in computer science is required. Experience will increase your salary earning potential. As a medical professional, degrees, certifications, and residencies are required in order to be successful.
Software developers such as John Romero, known in the video game industry, have made careers designing video games and apps, which earns him 6 figures.
Related: Best Side Hustles for a Nurse
6-Figure Income Online
Out of all of the income levels, a 6-figure income from home is the most attainable goal to work toward. Plus, these jobs can quickly turn into full-fledged online businesses that can be scaled to 7- or 8-figure incomes.
1. Freelance Writing
Anyone with writing skills can learn how to become a freelance writer and make money writing online. It doesn’t require a college degree or any special training to offer this service.
Bloggers have the skills of a freelance writer but instead of selling their services, they publish content on their own website. It takes time to build a 6-figure blog, but it’s more than possible in today’s digital age.
3. Photo Editing
While the average photo editor earns a 5-figure income, the business is scalable and can turn into a 6-figure opportunity. As a private photo editor, you could work for wedding photographers and help them edit their albums for customers. You can learn how to become a photo editor in this tutorial.
A part-time online proofreader can earn more than $40,000 working from home. It’s possible to scale a proofreading business into a 6-figure income, if you have what it takes to become a proofreader online.
If you become an online consultant you can offer services ranging from business consulting, weight loss consulting, beauty consulting, and more. There is no limitation to what you can offer in this field.
How Much Is 7 Figures?
A 7 figure salary looks like $1,000,000 to $9,999,999 per year (1 million to 9.99- million).
7-Figure Income Careers
Depending on the area you live in, ultrasound technologists and plumbers are among those who can make 7 figures per year.
A college degree is not required to become an ultrasound technologist. However, a two-year course specific to ultrasound technology is required.
To become a plumber who makes 7 figures, there is a need to obtain an associates in a trade or vocational school.
7-Figure Income Online
e-commerce businesses and online business coaches are great options for making 7 figures online.
An e-commerce business is one that sells anything online–from clothes to baby items to video games and everything in between. Some of the most successful businesses start with a single niche or type of product and add more options as revenue increases. You can learn how to start a Shopify e-commerce store in this tutorial.
Online business coaches share their experiences with other businesses, which in turn helps those businesses reach their potential. Convertkit provides a tutorial on how to start a coaching business.
How Much Is 8 Figures?
An 8 figure salary includes a range of $10,000,000 to $99,999,999 per year (10 million to 99.99- million).
8-Figure Income Careers
Experience being a doctor or a lawyer can get you to an 8 figure salary. If you practice a specialty, your skills are more valuable, thus, increasing your earning potential.
Becoming a doctor or lawyer requires advanced degrees, internships, and residencies. The more experience gained, the higher the salary.
8-Figure Income Online
Entrepreneurs are known for thinking outside of the box and breaking barriers in the world. There are few limitations to what an entrepreneur can do. Many entrepreneurs are known for making millions, such as Jeffrey Feldberg and his 8 figure company.
Related: How to Make $10,000 Fast
How Much Is 9 Figures?
A 9 figure salary ranges from $100,000,000 to $999,999,999 per year (100 million to 999.99- million).
9-Figure Income Careers
Investment bankers and engineers can make 9 figures. Both careers require degrees in their specified fields. Experience will assist in the increase of salaries.
9-Figure Income Online
Entrepreneurs make headway in the 9 figure salaries. There are no limitations to their salaries because they are their own boss, they control their own futures, and they can continue to develop ideas that generate higher income. Cameron Harold, known as the “$100M Man,” coaches business leaders to increase production levels.
How Much Is 10 Figures?
A sizable salary is a 10 figure salary ranging from $1,000,000,000 to $9,999,999,999 per year (1 billion to 9.99- billion).
10-Figure Income Careers
Inventors, such as Bill Gates, can make billions of dollars per year. Bill Gates is known for his role in inventing the world’s largest software business, Microsoft. Other inventors such as the inventor of Chobani (the Greek yogurt) have also made billions of dollars. Life as an inventor can lead you to the best invention yet!
10-Figure Income Online
Starting an online business has proven to generate a 10 figure income. Jeff Bezos (Amazon) and Mark Zuckerburg (Facebook) are just two people who have become billionaires from their online businesses.
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How to Make 6 Figures or More with Multiple Income Streams
Becoming a person who makes 6 figures or more each year is a goal to strive towards. In the process of finding your way to achieving that goal, consider having multiple income streams to increase your salary.
You can increase your salary with passive income streams, such as writing a book and selling it. You spend the time creating a book and then sell it for years to come. Each book sale generates a passive income and increases your yearly salary.
You can learn how to write and sell eBooks in this tutorial.
Investing is also another way to make money without having to consistently work at it. Or you can start a vending machine business and hire someone to restock the machines for you each week.
Additionally, you can generate income with active income methods, such as offering services to others and charging for your time.
Many people are using multiple income streams to make 6 figures or more each year. How will you increase your income?
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