Asking how much a six-figure or seven-figure is may sound like a joke question, but the truth is that not many people understand the terms.
They are terms mostly used in discussions about income, money, or finances so if you are new to such discussions, it’s normal for you to be curious about their meaning.
This post explains in detail what a six-figure, seven-figure, eight-figure, and nine-figure means. But first, it explains to you how much a figure is.
How much is a figure?
A figure represents a single-digit or number. It includes amounts of money starting from $1.00 to $9.99.
So let’s say you earned $9.80 from a job, it makes you a one-figure earner, not a three-figure earner.
But oftentimes, the word “figure” is usually used to denote the annual income or net worth of a person which is why rather than hearing one-figure earner in discussions, you would often hear six-figures or seven-figures.
So How Much Is Six Figures?
Six-figure is a term used to describe an annual income before tax that starts at $100,000 and ends at $999,999. Hence, anyone who claims to be a six-figure earner must be earning within that range.
So how much is a six-figure income? Well, the answer depends on the point a salary stands between the scale of 100,000 and 999,999.
So even if Mr. A earns $123,456 and Mrs. B earns $987,654, they are both six-figure earners.
Note that the word “six-figure income” is an American word and so the dollar currency is mostly used in its explanation. Other currencies can also be used in reference to a six-figure income.
How Much Is Seven-Figure?
A seven-figure is any number with seven digits. In other words, it is an amount that is greater than or equal to 1,000,000 but lesser than or equal to 9,999,999.
If your salary falls within the range of one million to 9,999,999 per year, that makes you a seven-figure earner and a millionaire.
How Much Is Eight Figure?
Eight figure is an amount with eight digits. It is any amount that falls between 10,000,000 and 99,999,999.
An eight-figure income in dollar currency is hard to come across and it’s mostly reserved for people in the entertainment industry, professional athletes, and CEOs.
To become an eight-figure earner, you must earn not less than $840,000 a month – A difficult feat to achieve.
How Much Is Nine Figures?
Nine figures are amounts with nine digits. They are numbers that fall within the range of 100,000,000 to 999,999,999.
Nine-figure earners are people who earn between a starting income of $100 million and a dollar short of $1 billion per year. So to simply put it, it is an income level that’s extremely hard to come across.
Earners of this level of income are mostly top professional athletes and owners of large business corporations.
That’s everything to know about how much six-figure, seven-figure, eight-figure, and nine-figure is. So next time you come across a mention of these terms in discussions about money or income, feel free to share your thoughts and knowledge.