How much is 7 figures? If you have ever dreamed of earning a 7-figure salary, this question has probably crossed your mind many times. Here are ways to make money and achieve your dream income.
Like others, you probably had an ambition at the start of your professional life. It could be a dream house, a car, or a 6-, 7-, or 8-figure income. It might also be to have financial freedom, gain financial independence, or retire early.
However, these cannot be achieved easily without a stable, high-income job, a business, or multiple income streams. You might want to research more about who managed to get their dream house or the 7-figure income, for example, and how to earn that much money.
This article might be the one you’re looking for.
If you want to know how much is 7 figures, how to make money that much, and what jobs or sources of income can give you your dream salary, read on.
How Much Is 7 Figures?
Simply put, 7 figures is a seven-digit number, i.e., any number between 1,000,000 and 9,999,999.
In terms of money, an amount equal to or higher than $1,000,000 or equal to or lower than $9,999,999 is a 7-figure income.
So, if a person earns $1,500,000, they have a 7 figure income. Similarly, a person earning $8,500,000 also earns a 7-figure income.
An individual with a 7-figure income is often a millionaire, and there are more than one ways to earn a 7-figure income. You could have an extremely lucrative business venture, income-producing assets, or a dream job that puts you in the top tier of the social strata.
Moreover, when we mention a 7-figure annual income, we refer to the income that an individual earns within a year before taxes or other such deductions are incorporated.
While most people don’t earn a 7-figure income, it is not impossible either. Most people who earn this much did not start at the top but made their way up through hard work, consistency, and determination.
However, not all individuals with 7 figures income are equal. In the example discussed above, there is a significant difference between the financial circumstances of individuals earning $1,500,000 and $8,500,000, respectively. Not all individuals with a 7-figure income are on the same level.
Let’s explore these aspects in more detail and understand the respective ranges within a 7-figure income.
How Much Is Low 7 Figures?
A low 7-figure income would lie within the range of $1,000,000-$4,000,000. If an individual earns $2,500,000 per year, they have a low 7-figure income.
Even a low 7-figure annual income can result in a 6-figure monthly income. For instance, if an individual earns $2,500,000 per annum, their monthly income would be $208,333.
How Much Is Mid 7 Figures?
Mid 7 figures refer to income between $4,000,000 and $7,000,000. An individual with an income of $5,000,000 lies exactly at the halfway mark to an 8-figure income.
How Much Is High 7 Figures?
High 7 figures income range is $7,000,000 – $9,999,999. Earning a high 7-figure is quite an accomplishment, and if you are driven, your 7-figure income can also convert into an 8-figure income.
However, it is important that you play your cards right if you aim to improve your earnings through business or investment opportunities like appreciating assets. These high-stakes decisions require careful deliberations, and you need to spend your money smartly.
Suppose you work at a high-paying job where you build high-income skills. In that case, a career opportunity or a promotion may result in better prospects for you, financially and otherwise.
Who Earns 7 Figures?
It is not unrealistic to strive for a 7-figure income; however, it is not easy either. According to a report by the IRS, only 0.35% of Americans earn an income of 7 figures or more. It means that only 3.5 individuals earn such an income from every 1,000 US citizens.
The above figures show that it will be no easy feat if you want to reach this income level. But, some individuals have accomplished this achievement, and so can you.
Let’s explore the best ways to reach the goal of a 7-figure income, starting with finding the career path for you.
Many entrepreneurs have been successful in launching ventures that have become very successful, which many started as a side hustle. Entrepreneurial ventures in finance, IT, eCommerce, construction, and retail are a few examples that have generated 7-figure income.
Numerous executive-level jobs in the financial sector have the potential to provide 7 or higher figures income. Take investment bankers, for instance. While the job is quite challenging, it can also be a potentially rewarding opportunity for an individual to climb the top of the corporate ladder in this field.
Similarly, an enterprise sales role is also a very rewarding yet challenging position. The job entails signing high-stakes contracts, negotiations with significant stakeholders, and making high-level sales. The bigger the stakes, the higher the rewards.
High-level consultancy jobs in various industries provide a 7-figure pay or more. Industries rely on trained consultants’ expertise, guidance, and advice to improve their business processes and profitability. If you want this career path, you must start at the entry level and gradually learn the ropes to hone skills, building a 6-figure income. Over time, you increase your professional experience and build a reputation in your industry.
Social media provides numerous forms of career paths and money-making opportunities. Being an influencer has become a trend nowadays, and many have a strong following and the clout to affect their followers’ purchase decision-making. Businesses like to collaborate with them for brand endorsements, which allows these influencers to make money online and build wealth.
Moreover, C-level executives, CEO jobs, and other high-profile positions in large-scale organizations offer salaries within the 7 or a higher income range.
What Are 7 Figure Salary Jobs?
Most jobs with 7-figure salaries require highly specialized skills and experience. The fields or roles offering such remuneration packages are highly specialized, and the criteria for filling such roles are quite high. This is why hiring for these roles is a complex and elaborate process.
Most individuals in such a position start at the entry level and strive hard to make their way to land a role that enters them into the millionaires’ category.
We have provided a few examples in the previous section, but if you want to learn more about jobs and careers that provide 7-figure salaries, here are a few examples.
- Business venture or entrepreneurship
- Investment banking executive
- Enterprise sales account executives
- C-level executives (CFO, CTO, COO, etc.)
- Corporate lawyers
- Private equity fund managers
- Consultancy executives
- Real estate executives
- Fashion designers
- YouTubers/ bloggers/ podcasters
- Social media influencers
- Professional athletes
- TV and movie actors
- Influential personalities from the entertainment industry
- Software developers
- Surgical specialists
Best Way to Earn 7 Figures
We already mentioned a few jobs and ventures that can help you earn 7 figures. If you currently have a full-time job with room for growth and income potential that is motivating, you can improve your circumstances by staying consistent and working hard.
If not, you best find your money-making niche fast.
You can consider side hustles or businesses to generate an extra income stream, improving your overall earnings. Remember, there is no limit to how much success you can achieve.
You can also consider remote, part-time gigs that can also improve your overall income as you make money from home. Check out these online job opportunities to find out how to earn extra money.
- Take part in online surveys. You will get paid by just answering questionnaires or joining company-sponsored focus groups. Here are some of the best online survey sites to earn gift cards and extra cash:
- Survey Junkie. Join one of the most popular, reliable, easy-to-use survey websites and receive a $5 bonus. Earn points that are exchangeable for cash or gift cards. Learn more details in the Survey Junkie review and make extra money.
- InboxDollars. Sign up with InboxDollars for free, and you’ll get a $5 welcome bonus when you use this link. Learn more about this platform through our InboxDollars review.
- Swagbucks. Check out what we think about the popular Swagbucks platform in our Swagbucks review. You also have a $5 sign-up bonus waiting for you.
- Market your skills as a freelancer. Online job platforms like Fiverr, FlexJobs, and Upwork list freelance work opportunities from employers worldwide. So, if you have marketable skills like editing, software development, graphic design, proofreading, etc., try creating a smashing resume and listing your profile at these job sites.
- Flip items for profit. If you are good at finding saleable goods and reselling them at a profit, there are many online sites like Craigslist, eBay, Amazon, and Letgo where you can make money selling goods. You can also either buy secondhand items or sell your own preloved or unused goods in online flea markets.
- Play online games. If you are a gamer, this activity is the perfect side hustle for you. With platforms like Mistplay, InboxDollars, or Swagbucks, you can play to your heart’s content as you earn points that you can exchange for cash or gift cards. Your hobby can also generate income if you start a YouTube gaming channel or become a video gaming blogger.
- Be an online transcriptionist. Are you good at grammar? Do you pay keen attention to details? Do you have a good headset and reliable internet? Try your hand at being a transcriptionist. To get you started, here’s a transcription guide.
- Offer tutoring services. There are many online teaching opportunities in English language tutorials and subjects like Math and Science. You can share your knowledge as an online tutor while you earn cash.
- Get a data entry job. You can make more money while working from home. Basic requirements include typing skills, attention to detail, and computer and Internet connection.
Even if you do not have special skills, there are ways for you to grow and succeed. You can work on improving your writing or blogging skills or your video-making and editing skills to run your own channel. You’d be amazed how much some YouTubers make!
If social media and other platforms do not interest you, there are other profitable avenues for you to explore. For instance, you can consider working on sales or presentation skills and improving your financial knowledge and business management skills. These skills can be handy if you want to run your own business or progress in a corporate role.
Lastly, here are some passive income ideas that can generate money for you.
If you want to invest in stocks, bonds, and other financial instruments, start learning by going over these articles on investing:
- M1 Finance
- Acorns
- Blooom
- Motley Fool
Frequently Asked Questions – How Much Is 7 Figures?
How Much Is 7 Figures a Year?
Seven figures a year implies earning an annual income between $1,000,000 and $9,999,999.
If you earn 7 figures annually, you are among the 0.35% of Americans who earn a 7-figure income or higher.
How Much Is 7 Figures a Month?
7 figures a month means you earn between $1,000,000 and $9,999,999.
If you earn a 7-figure income per month, your annual income may be 8 or 9 figures, which is quite an accomplishment.
How Much Is 7 Figures a Week?
A weekly income of 7 figures means you earn between $1,000,000 and $9,999,999 per week.
If you earn $3,500,000 per week and work throughout the year, your annual income would be $182,000,000. If you earn such an amount of money, you are a billionaire. Individuals with extremely successful business ventures can earn that income.
How Much Is 7 Figures a Day?
7 figures a day means you earn $1,000,000 and $9,999,999 every day. So, even if you earn $1,000,000 daily, your annual income would be $260,000,000, given that you work 5 days a week, 52 weeks per year. Such an income figure is quite extraordinary.
Conclusion – How Much Is 7 Figures?
7 figures refers to the range of $1,000,000 to $9,999,999.
While for many, a 7-figure annual income is a dream they continue to strive for or just wish for, some individuals have turned this into a reality and are earning a handsome income through a job or a business. Earning 7 figures yearly is impressive enough, but some extraordinary individuals, like Bill Gates, get as much as 9 figures on a monthly basis.
It’s time to level up your game, recalibrate your financial goals, and strive to increase your earning power. We hope this post has inspired and given you practical advice on how to be financially empowered.
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Founder of Spark Nomad, Radical FIRE, Journalist
Expertise: Personal finance and travel content
Education: Bachelor of Economics at Radboud University, Master in Finance at Radboud University, Minor in Economics at Chapman University.
Over 200 articles, essays, and short stories published across the web.
Experience: Marjolein Dilven is a journalist and founder of Radical FIRE, a personal finance platform, and Spark Nomad, a travel platform. Marjolein has a finance and economics background with a master’s in Finance. She has quit her job to travel the world, documenting her travels on Spark Nomad to help people plan their travels. Marjolein Dilven has written for publications like MSN, Associated Press, CNBC, Town News syndicate, and more.