What is the meaning of Six Figure Salary?

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Author: Sarthak Bhalerao

Table of Contents

  1. What is a Six-Figure Salary?
  2. How to Earn a Six-Figure Salary?

What is a Six-Figure Salary?

In the corporate world, there is a thing known as the six-figure salary. A six-figure salary means getting a salary that is at least $100,000. Individuals who earn less than that, but are earning at least $10,000, have a five-figure salary. If your annual salary is $1,000,000 then you have got a seven-figure salary. Salary is one of deciding factors when applying for a job. Most people are always on the lookout for jobs that come with financially rewarding compensation and benefits. 

How to earn a Six-figure Salary?

Everyone looks for a job that is high paying, and some people may also choose their career depending on the compensation and benefits. To get a high paying job, the first step is to take your education seriously. Having a solid foundation will significantly help you choose a career that will lead you to financial success. It will also help you get into great universities and institutes which will result in you getting a high paying job. A survey showed that only 55 out of 818 jobs listed offer median salaries of at least $100,000 every year. Out of the 55 jobs, 53 require at least a bachelor’s degree which is why your education quality is also very important. Several industries pay well and offer more opportunities for advancement, so it is crucial to choose your career path carefully. Here are a few jobs that you may want to consider if you want a six-figure salary. 

  • Actuary:

Insurance companies employ actuaries who assess risks and reduce costs by using statistics and mathematics. Actuaries made a median salary of $108,350 in 2019. Actuaries usually hold a bachelor’s in mathematics, statistics, or actuarial science. Many also take courses in databases and programming languages. 

 

  • Finance Manager:

Banking and Investment banking companies are always on the lookout for financial managers or analysts. They are responsible for developing strategies to keep the company financially sound and stable. The average salary of a finance manager is $121,750. To get a job in this field, you need to obtain a bachelor’s degree in finance, accounting, or related field. Some employees prefer job applicants with an MBA.

 

  • Doctors:

There is no doubt that being a doctor is one of the highest paying jobs in the world. However, the path to becoming a doctor is not quite easy. They have to spend many years in medical school. Doctors hold a bachelor’s degree and are medical school graduates. They also go through internships and residency for three to seven years. Here are some average salaries across different fields:

Neurosurgeon – $600,000

Radiologist – $412,000

Plastic Surgeons – $410,000

General Surgeon – $324,000

 

  • Software Developer:

Those who are into software development are always in demand in this day and age when everything is going digital. Software developers earn a median six-figure salary of $102,280 annually. They are usually holders of a bachelor’s degree in computer science. However, many professionals find success in this field even without a degree.

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