Before you came across this article, you have more than likely encountered the term “six figures.” The phrase is usually associated with business deals, salaries, and the like. Even before you figure out what it means, you get an idea that it is something significant. According to , only 9% of Americans make $100,000 or more a year.
What Does Six Figures Mean?
- What Does Six Figures Mean?
- What Is Six Figures In Money?
- How Much is 6 Figures a Year?
- How much do you have to make a day to make 6 figures?
- Cost of Living Index By State
- How to make a 6 figure income?
- Jobs That Pay Six Figure
- Easy jobs that make 6 figures
- How to make six figures without a degree?
- How to make six figures online?
- How to make six figures working from home?
- How Much Is Six Figures Summary
Technically speaking, . So, in mathematics, we refer to numbers with six digits, thus the term six figures. Nowadays, though, whenever this term is mentioned, the speaker is usually alluding to annual salaries or contracts. Six figures is a significant number.
What Is Six Figures In Money?
The most common question associated with this would be, “What does it mean to earn a six-figure salary??”
Six figures in dollars is considered pretty good, considering that the . If you count the digits, that showcases a five-digit figure, under $100,000. The average full-time worker in the US , which is a five-figure salary. So, you can say that people who do end up making six-digit figures are a cut above the rest.
Those who make six figures in income, on the other hand, are a diverse group. Someone with a salary of $100,000 has already surpassed this threshold. On the other hand, someone on their way to a million dollars is still included in this group. Imagine earning $999,999, just a dollar shy of a million dollars and a seven-figure wage.
How Much is 6 Figures a Year?
According to ZipRecruiter, as of 2020, the . So, you can see that while six figures sounds impressive, most of those who earn at least $100,000 lean more towards the lower end of the spectrum.
According to the aforementioned yearly average six-figure wage, this equates to $48.29 per hour. I’ll have to round up a little here because not everyone who earns the same annual pay earns the same hourly wage. Some people, for example, are required to work on Saturdays while others only work during the week.
With a six-figure salary, you can expect to earn around $1931 every week or $8370 per month. Even if your annual income is in the low six figures, it does not appear to be a bad deal. It’s no surprise that everyone gets delighted when they hear the words.
How much do you have to make a day to make 6 figures?
You must earn $48.29 per hour, as stated in the previous section. This figure, on the other hand, refers to the median wage. It’s closer to the lower end of the six-figure range. Take a look at the following if you want to see how the dissected figure looks for both low-six figures and mid-six figures:
Low six figures
So, you’ve recently begun earning in the low six digits. Maybe you’ve just broken through a crack in the thick glass ceiling that just 9% of Americans manage to break through. Of course, there is reason to rejoice, as the majority of median six-figure salaries are on the low side.
What if your annual salary is $100,000? You’ll earn around $8,333.33 per month after that. That’s not bad at all. Given all of the global stimulus before and during the pandemic, future inflation should not render that amount practically useless. If you assume 30-day months as the usual, with no concern for whether or not there are off days, the daily income is $277.
If you have to think of the low six figure bracket as a whole, it’s between $100,000 and $400,000. Hence, for low six figures, you’ll obtain a daily pay of $1,111.11 at its peak. That sounds like something a normal person could only wish for. It’s already happening, and you can be a part of it. Consider this: we’re still in the low six-figure bracket, and we haven’t even discussed the mid-six figures.
If you have a four-member family and earn in the low six figures in some places, such as Hawaii, the District of Columbia, and California, you will be considered low-income. This is especially true if your partner does not contribute to your family’s income.
Mid six figures
A salary in the mid-six figures will be roughly $500,000 or such. The monthly salary is approximately $41,666.67 if the wage is exactly equivalent to half a million. Based on a 40-hour workday and 52-week year, the daily wage is $1388.89. Can you picture making that much money every day? For other people, earning that much money takes two weeks or even a month. According to them,
What does it take to be in the top 1% of earners in terms of annual income?
According to , someone earning an annual income of about $539,000 is among the top 1%.
The mid-six figure range is between $400,000 and $700,000. To make mid-six figures, someone at the top of this level will earn $58,333.33 per month, or $1,944.44 every day. However, keep in mind that, in many circumstances, higher income entails higher taxes and greater responsibilities.
According to the , individuals earning at least $518,401 or married individuals filing joint earning at least $622,051 are in the 37% tax bracket in 2020.
High six figures
At the peak of the high six-figure category are people close to earning a million per year. This is still nothing compared to the earning an average annual income of about $1.7 million. But it surely doesn’t hurt if you make anywhere from $700,000 to $999,999!
If you look at your situation as a six-figure earner from a global perspective, saving $100,000 in your bank account will put you in the top 10% of the world’s wealthiest people. When determining how far your money will stretch, you must consider the cost of living index. In certain cities, a $100,000 salary will purchase you a large multifamily house, but in others, it will earn you a small apartment.
Cost of Living Index By State
Per , the state’s cost of living index is vastly different among the 50 states. It’s defined as the amount of money needed to afford basics such as food, housing, healthcare, and more. For example, the median rent for a two-bedroom apartment is $1,192 per month, while in Mississippi, it’s $746, and in the District of Columbia, it’s $2,776. There’s a $2,030 different from highest to lowest, or a 3.72x difference.
The Missouri Economic Research and Information Center has created a map depicting the composite cost of living index across the United States.
How to make a 6 figure income?
You already know how fantastic a six-figure paycheck looks. So you know that attempting to attain the bottom end of the six-figure annual take-home pay range is a worthy aim.
How do you make a six-figure income in a year?
Right now, you could be thinking about how to make six figures. Certainly, it will not be simple.
You can, however, take the following steps to get closer to your 6-figure income goal:
- Conduct research on .
- Examine the requirements for any of the high-paying jobs.
- Get some experience in the field you want to work in.
- Find out how freelancing employment can help you supplement your present income.
Jobs That Pay Six Figure
All of the preceding points have led us to this point. What do six-figure jobs entail? Several of these positions are in the field of technology. For high-paying technology employment, you’ll almost always need formal schooling and training. That is the best method to go about it, not only because some of these courses are difficult, but also because having a certificate or certification to confirm your knowledge would be beneficial.
Of course, you’ll need to build a portfolio of your previous work. To develop a portfolio and track record, you may need to work on some initial jobs for free or for very little money.
Easy jobs that make 6 figures
Some tasks are extremely simple to perform in exchange for the pay they can provide. You have to acknowledge that jobs and convenience do not always go together. To make a livelihood, you must work, and each job presents its own set of challenges.
Simple occupations that pay well can be classified as jobs that do not require extensive training. It can go either way: the job may require a degree but will help you reach six figures faster, or the job may require you to work harder but not a college or graduate degree.
How to make six figures without a degree?
Thankfully, some six-figure jobs do not require a . However, several of them require some extra experience. It would help if you were the best or hired by the best to earn the top salaries; some may not earn six figures immediately, but with some experience and over time. Many of the following are listed in our detailed guide on Introverts should look for jobs that are low-stress and pay well.
1. Air Traffic Controller
To work as an air traffic controller, you simply need an associate’s degree and on-the-job training. Knowing you’re dealing with people’s lives makes the job stressful, and it may be even more difficult to obtain. After you get in, though, you can quickly improve your compensation to the $124 540 median.
If you want to take to the skies and have the bravery to do so, you should pursue a commercial pilot’s license. A pilot’s license can earn you $111,930 per year on average.
3. Dental hygienist
Without earning a dental degree, you can still work at a dental office as a hygienist. While the median salary is only $74,820 for this associate degree job, you can earn as much as $101,820 a year if you reach the 90th percentile.
4. Diagnostic Imaging worker
Just like being a dental hygienist, you need to be at the 90th percentile to get to six figures if you work as a diagnostic imaging worker. You need training and certification with the Commission on Accreditation of Allied Health Education Programs. You may need an associate degree to reach a peak salary.
5. Web Developer
Indeed, nowadays, you need a degree to become a web developer. Though, many self-employed freelancers don’t need a degree, just experience or expertise. Suppose you have certifications and strong working knowledge in several programming languages. In that case, you can still have a chance to get a median salary of $69,430 but easily make six figured as you build your portfolio and experience grows. If you’re an introvert, it’s one of those occupations that need you to work alone.
6. Radiation Therapist
Most states require radiation therapists to have an associate’s degree and certification, as well as to be licensed or certified. Radiation therapists may expect to earn an average of $82,330 per year. Nonetheless, you can still aspire for the highest wage, which is $124,320 right now.
7. Nuclear Medicine Technologist
Your median pay as a nuclear medicine technologist might be as high as $76,820. You can earn up to $104,730 with a post-secondary certificate, training, and experience. Yet, some businesses prefer an associate’s degree.
8. Water Transportation Worker
Unless you want to be a captain or a ship’s engineer, formal education is not required. Although the median wage is $54,400, you may want to aim for $118,260. A profession in water transportation is expected to rise by 8% in the next years. You can begin working in the sector right now, but you may need to learn more in order to earn greater pay.
9. Sales Representative
Without a college degree, you can work as a sales representative and earn six figures; some people are born with the ability to sell. You can earn a median of $61,660 if you are persuasive and willing to learn. Given that it is also the national median at the moment, this is a really respectable result. If you work hard enough, you could earn a high salary of $122,770 or more. To make a six-figure income, you may need to work for companies that sell high-value or exclusive products.
Keep in mind, it’s listed as one of our Introverts’ worst jobs, but best for extroverts. Make sure it’s the right career for you.
10. Real Estate Broker
Although a high school graduation should suffice, a post-secondary diploma may improve your prospects. You must also be trained and certified to work as a real estate broker. You might only make a median of $58,210 at first (which is still really excellent considering you don’t need a college diploma), but because you’re working with houses, which are high-ticket commodities, you could make as much as $163,540.
11. Funeral Service Manager
You can work as a funeral service manager if you aren’t afraid of doom and gloom. You’ll require an associate’s degree in mortuary science and training in cremation and funeral services. The average yearly wage is $79,180. You can also earn up to $151,680 as a maximum salary. Job growth is estimated to be 5% from now through 2026.
12. Underwater Welding
Recently, there has been a big demand for skilled underwater welders. This need has grown from additional demand for underwater construction and repair programs, especially in the US. A tradesman who is a certified diver and trained in underwater welding can usually bring in a very reasonable yearly salary. Underwater welder salaries range between $100,000, starting out, and can go as high as $200,000 per year for very skilled welders. However, it’s important to note that work is not always regular as other welding industries tend to be.
Lastly, underwater welding jobs usually require years of specific training and on-the-job apprenticeship. If you want to get into welding then it’s important you understand the different welding processes and importantly what welding equipment is right for you. The balance usability, ease of use, weight, additional features and most importantly safety.
How to make six figures online?
Nowadays, a large number of employment are available online. As a result, you should look for ways to earn six figures online. Nonetheless, some of them should be approached with caution. While you wait for your online job to take off, you may wish to keep your day job.
Start an online course
Nowadays, it’s easy to post your videos on social media or your own website to make money; it’s not just celebrities that can make money online. There are several free or affordable online course platforms to start your business and Make money quickly.
For development tools, hosting, and payment processing, most online platforms will charge a monthly fee. Prepare to show your credentials and give a video presentation about yourself. It would be beneficial if you had anything that would establish you as an expert on the subject matter you intend to teach.
Your computer, electricity, WiFi, and a monthly or annual online course platform membership will be included in the initial beginning cost. Building a client base through SEO, social media, and networking will take time. To increase your enrollment’s legitimacy, ask your earliest clients for genuine testimonials.
Offer consulting services online
Consultation is something that can be done in person or over the internet. Numerous people and businesses have used their professional websites as landing pages to promote their consulting services.
Starting an online consulting firm is a low-cost endeavor. The consulting will be based on the information you provide. You’re attempting to sell your expertise and experience.
Your landing page must have enough pull to entice them to hire your consulting services. Include images of events or sound bite testimonials from previous clients if you have professional expertise to prove your credibility and history. You can also target your demographic with an online ad, such as a sponsored Facebook post. Provide something one-of-a-kind or more specialized. Examine your competitors’ strategies to determine what is working for them.
To establish yourself online, consider offering introductory discounts or free trials. People may believe your services are worthless if you charge too little. On the other hand, most individuals are turned off by exorbitant rates.
Work as a sales representative
Yes, this is a difficult one. This will only work if you can locate a product or service that sells well. To get to the sales levels you need to earn six figures, you’ll need a lot of tenacity and perseverance.
You need to find leads and conduct necessary follow-up meetings to achieve sales quotas. It’s not a 9 to 5 job and can be tailored to your schedule or needs. Sales are easier to manage online with proper tools, creativity, and time management skills. Here are some tips on how to improve your salesmanship.
Start a niche blog
Writing isn’t often connected with great pay. Unless you’re a well-known novelist like Stephen King, it still isn’t. Of course, this isn’t to say that writing should be confined to one of those last-ditch jobs you choose because you’re talented at it but know you won’t make much money.
You will know your worth better if you know your expertise, just as you will know your worth in life.
Create a popular specialty blog, and you can monetize your writing abilities by running advertising on your website. Amazon Affiliates is one of the easiest affiliate programs to join. To join Amazon Associates and earn a commission on purchases made through your blog, website, YouTube channel, or app, you must have an active blog, website, YouTube channel, or app.
Produce content to make money
Words aren’t the only form of content. Videos, pictures, jokes, memes, and educational resources may all be included. You could make money from views, ads, and sales if you find the right home for your content.
Simply find something you’re good at and put it to good use by sharing it. Some artists, for example, have used the Internet to sell prints of their work. Some publish their e-books on their own. Amateur authors who may not be noticed by publishers but have enough talent and significant content to give their audience have found a home in independent publishing.
All the above can lead you to a six-figure salary. However, you notice that all of these online jobs need some patience and hard work to make six-figure online. They are legit ways to make money without a degree. It is possible. Give it a try. Some are so basic that they can be 13-year-old jobs on the internet old’s to start, like a niche blog.
How to make six figures working from home?
Working from home might also bring in six figures. The six-figure internet employment mentioned in the previous section can all be done from the comfort of your own home. Additional jobs that can be done from home and have a six-figure potential include:
- Technical lead
- Web development
- Web design
- Book illustrations
- Book writing
- Senior recruiter
- Business Development Director
- Audit manager
- Product management coach
- Machine learning engineer
How Much Is Six Figures Summary
Just because we are earning the national median salary (or even below) right now does not mean we shouldn’t aspire for a six-figure income. With the right tools and knowledge, you can find ways to supplement – and maybe eventually replace – your current income to reach the top 10% of the world earners. Though, to make six figures, it likely won’t be an a cash-paying under-the-table job.
Pull out your notepad (digital or paper) and make a list of the occupations that interest you. To make a job successful and sustainable in the long run, you must be passionate about what you do. Then, compare the requirements to your skills and educational backgrounds, which you already have on your resume.
Examine what else you’ll need to accomplish (training, education, research) in order to land the job you want. Make sure to look into how much low-level and high-level employees in that field are paid. You must, of course, continue to obtain experience in the field you have chosen. A non-degree holder may take longer to achieve six figures, but it is conceivable.