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 6 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 6 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 6 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
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