The figure of 7 is something that many are familiar with, but how many people know what it means? Even if you’re not sure, you will be reading more than just this sentence from now on. You see, the phrase ‘7 figures’ has taken the internet by storm for a good reason, too. It might seem like a number straight out of a fantasy novel or an episode of Seinfeld. But it’s far from meaningless.
If you can make as much money as a seven-figure earner does, then you can truly call yourself successful. That said, it doesn’t mean that to reach this level. You know what you’re doing.
For most individuals who don’t work in high-paying fields, it seems almost impossible without outside help and support. However, working your way up to a 7-figure income takes commitment and dedication. There are ways to get there if you put your mind to it.
Here is what this article will talk about:
- How Much Is 7 Figures?
- What Is 7 Figures?
- How To Make 7 Figures Income
- Is A 7-Figure Salary Realistic?
- Skills To Obtain To Reach A 7 Figure Salary
- Ways To Work Towards A 7 Figure Salary
- What Jobs Make 7 Figures?
How Much Is 7 Figures?
The amount of money a 7-figure income represents is 1 million to 10 million dollars. It is highly dependent on the person and the industry.
The term ‘7 figures’ is commonly used as a way to compare high incomes with other high incomes. Depending on the field, it could be much higher than $1 million.
Some people believe it's possible to make up to $10 million annually. This is what many NBA basketball players can earn through sponsorships. In fact, LeBron James reached $1 billion by the time he retired from basketball.
What Is 7 Figures?
The number 7 is a popular number in the world of personal finance. Many high-paying fields are associated with it and represent the number of figures in an annual income. It starts with 1 million dollars a year since a million has seven figures: 1,000,000.
The amount of a 7-figure income a person makes varies from industry to industry and job to job. We will talk more in detail, but it includes doctors, consultants, and athletes, among others. You might think these jobs are only for the elite few or those with an established background in these fields. The truth is, you could be wrong.
If you want to make this money, you can start from the ground up. There are many ways to get involved in these developing fields with little to no experience. And they’re all worth trying out.
If you want to make as much money as possible in a short period, there is one thing that you should do: keep your eye on the prize.
This means not just taking steps toward achieving a 7-figure income. But you also think about what will happen if you don’t achieve it. It could be that for your goal to be met.
You need to work harder than ever or keep at it until success comes knocking on your door.
If you want to know more about other salary figures, check out these two articles:
- Five Figures: What Is “Five Figures”? How Can You Make A 5-Figure Salary?
- Six Figures: What is “Six Figures”? Learn About 30 Six-Figure Jobs You Never Imagined
How To Make 7 Figures Income?
So, how do you make a 7 figure income? It all starts with your personal finances. You need to start by getting control of your expenses, getting rid of unnecessary things, and investing in the right places.
That doesn’t mean stop doing things you love. If you have something that makes you happy or brings peace to your life, keep it.o
The key is finding balance regarding what you spend and what you save. You also need to start investing in yourself.
Investing in yourself means investing in education, taking on new challenges, and focusing on the long term.
This cannot be easy for many people since they’re focused on short-term gains. Doing that generally doesn’t help them reach their ultimate goal.
Focus on the bigger picture and remember that keeping the big picture in sight will help keep your feet on the ground, get you through tough times, and reward you for staying committed.
Another piece of advice for those looking for a 7-figure income is understanding and embracing technology as it becomes more prevalent in everyday life.
Nowadays, there are ways to earn money online that weren’t around before, so be open-minded about giving something new a shot if it seems interesting enough or beneficial to your life goals.
You never know what might happen if you took some time out of your day to try.
Is A 7-Figure Salary Realistic?
It’s not impossible to reach a 7-figure salary, but it does take a lot of work and dedication.
The good news is that there are ways to make it happen with serious dedication and hard work.
First, you need to decide what type of income you want. For example, if you're going to make more money than your current job provides, then you need to start looking for new opportunities to get the job or find a way to create your own business.
Luckily, the internet is full of resources to help you achieve that. Some different techniques and methods will help you perfect your skill set so that you don’t have an issue finding a new job or starting your own company.
Once you have a plan for the future, you have nothing left to do except wait for the opportunity to come knocking on your door as they did for seven-figure salaries.
Skills To Obtain To Reach A 7 Figure Salary
To reach the level of 7 figures, you will need specific skills.
While it might seem like a wide range of skills is needed, the most important are those that will allow your business to grow exponentially.
Let’s take a look at some of these skills:
- People Skills
- Business Savvy
- Knowledgeable in Social Media
- Knowing How To Find Opportunities
- Creative Mind
The more you invest in yourself and your education, the more likely you will become a successful entrepreneur.
It will require time and effort if you want to be a 7 figure earner. You must believe in yourself and trust that you can make it happen if you work hard enough.
Ways To Work Towards A 7 Figure Salary
To earn a 7-figure salary, you must put in serious work and sacrifice for your career.
This means long hours and a lot of dedication, two things most people are unwilling to do.
However, there are ways for individuals who want to reach a 7-figure income in their lifetime or at least one way to get closer to it.
If you have an entrepreneurial spirit and want to start your own business, this is the path for you!
Creating something from nothing requires hard work and patience, but the windfall of profits can easily make up for such costs.
There are many different opportunities to start your own company alone or with others. If this doesn't appeal to you, consider becoming an entrepreneur in another field, such as real estate or finance (maybe even social media marketing!).
What Jobs Make 7 Figures?
If you want to make a lot of money, your work might be cut out for you. But if you’re willing to put in the time and effort, money can quickly come your way in plenty of ways.
Doing well financially comes down to many different factors. Doing a job that pays well requires specific skills or things valued above others in the workplace.
If an occupation has value, your questions people will be willing to pay more for it. Here we’ll answer all about finding a high-paying job and creating financial independence.
We will talk about the following jobs:
- CEOs And C-Level Executives
- Corporate Lawyers
- Sales Executives
- Investment Bankers
- YouTubers And Influencers
- Professional Athletes
- Actors And Actresses
- Fashion Designers
CEOs And C-Level Executives
What jobs make 7 figures? A job that pays 7 figures can be just about anything.
There are certain types of jobs, though, that pay a lot more than others. Executives and CEOs, in particular, earn substantially more than other positions with the same skillset.
These high-paying positions include individuals in law, finance, marketing, engineering, and consulting.
If you’re willing to put in the time and effort, money can quickly come your way in plenty of ways. Business owners are one of those ways. This is one of the most rewarding occupations, as it often correlates directly to the amount of time put into it. Building up a successful business takes a lot of time and effort, but if you have the skills needed to run your own business, these will pay off in the end.
You could choose from many different types of businesses, like restaurants, hotels, and professional services. You might also want to consider entrepreneurship as an option for making 7 figures. Entrepreneurship is similar to running a business, but instead of hiring employees, you engage yourself and make all decisions on your behalf.
Entrepreneurship is riskier than owning a business. Initially, it’s hard to predict how much revenue each month. It’s also challenging to expect how long your company will last.
But with hard work and perseverance, this opportunity could lead to success. If you’re looking for something different or working alone doesn’t sound like an option. Then, think about becoming a freelancer or starting your own business instead of an actual job at another company!
You would provide services directly to clients, allowing complete freedom in your work and where it takes place with minimal interference.
If you want to make a lot of money, you might want to consider becoming a consultant. Consulting is one of the fastest-growing fields in America. And it is easy to see why when you consider the salary potential.
According to the Bureau of Labor Statistics, the median pay for an individual in this career field is $72,000 annually. However, if you become a consultant guru, start making speeches, and are requested by big companies, your salary can grow exponentially and reach the 7 figures.
So if consulting pays so well and can be done remotely, how hard is it really?
The truth is it’s not that hard; all you have to do is decide what type of work you want to do and find someone who needs your professional expertise.
Once you have found your client and signed on the dotted line, all you have to do is get started!
For example, corporate lawyers can make from $200,000 to millions annually.
This is because these lawyers are in high demand. With all the laws constantly changing and new legislation being passed, many legal cases and new laws need to be written and enforced.
This means employers will pay top dollar for lawyers with this skill set. They usually need someone who can keep up with the needs of their business. Also, there is always a demand for people who know how to draft contracts with the best interests of both parties in mind.
Lastly, corporate lawyers generally work for large corporations instead of individuals or small businesses. In general, this helps them make more money in less time.
So if you think you’re ready to start making your money work for you while also providing valuable services to your community and society, then becoming an attorney might be your next step!
A sales executive is typically in charge of a team of people and has a client list primarily composed of potential customers.
They are also responsible for their teams' daily operations and overseeing the work done by subordinates.
Sales executives manage people and resources and can be found at different organizational levels. They typically travel often and take on additional duties like coordinating with vendors, handling all the marketing material, meeting with clients, delivering presentations, and monitoring staff members' performance.
To keep up with this lifestyle, they must be creative and able to multitask effectively.
The average salary for a sales executive is $73,000 annually. Reaching a seven-figure income all depends on the product you work on and your talent. Some real estate agents, for example, can make millions per year if they work in the luxury market.
A sales executive can also make more money if they have experience in other related fields such as management consulting or advertising. Therefore, 7 figures is a reality in this job.
It isn’t easy to estimate the amount of money that Investment Bankers make. However, it is estimated that most investment bankers make around $1 million yearly.
Investment bankers are responsible for advising companies and helping them invest in new opportunities. They are involved with the industries, such as financial services and technology, that help drive the global economy.
Being an investment banker requires a lot of knowledge of various topics, including international trade and finance. It also involves mathematics, statistics, accounting, and computer programming expertise.
The best way to become an investment banker is by getting into an excellent undergraduate program. Ideally, you’ll have been exposed to some of the economics courses at your school before applying for the job. After you graduate from college with your bachelor’s degree in any field related to business or economics, you can enter the world of investment banking!
Youtubers And Influencers
Youtubers and influencers are two of the most popular types of people to follow on social media. They’re also some of the highest-paid. So, what do they have that makes them so popular? Well, they have something that everyone is looking for: authenticity.
According to Forbes, the top YouTubers in income in 2021 were:
- MrBeast – $54 million
- Jake Paul – $45 million
- Markiplier – $38 million
- Rhett & Link – $30 million
- Unspeakable – $28.5 million
- Like Nastya – $28 million
- Ryan Kaji (Ryan’s World) – $27 million
- Dude Perfect – $20 million
- Logan Paul – $18 million
- Preston – $16 million
Youtubers and influencers use their platforms to make raw, personal, and real content. They can make money through advertisements or brand partnerships.
Your content needs to be relatable and authentic to attract this type of audience.
Professional athletes are one example of jobs that could pay upwards of $7 million annually.
Sports are increasingly becoming lucrative and high-paying careers, giving athletes opportunities to be among the highest-paid people in the world. This is not to say that professional athletes don’t have their share of critics.
Many professional sports fans are concerned with the long-term health risks that professional athletes often face.
One example is brain trauma, which can cause memory loss or other symptoms associated with dementia, such as aggressive behavior and poor decision-making. Despite these concerns, they continue to make much money doing what they love! The average salary for a professional athlete is $2,000,000 annually.
Actors And Actresses
Some jobs that make 7 figures are actors and actresses. If you’re interested in acting as a career, then there are some things to consider before taking the plunge.
The most crucial factor is whether or not you have the talent and drive to become successful in this line of work.
With time, dedication, and hard work, it may not be too difficult for an actor or actress to make it big.
Additionally, if you want to take your career seriously, find a reputable agent to help you get well-known and earn money from their contracts.
The most common jobs that make seven figures are fashion designers, professional athletes, movie directors, and musicians.
Fashion designers are often the highest-paid category of workers in their field, with some making more than $10 million annually.
If you’re interested in finding work in fashion design but don’t know where to start your search, start by getting the required skillset.
Doctors have one of the highest incomes in the United States.
If you are considering a career in the medical field, then you might want to consider pursuing a degree in medicine or pursuing a career as a physician. Physicians can earn from $200,000 to millions of dollars annually.
To discover what jobs make 7 figures, consider checking out this article! It was created to help you determine your salary based on your work experience and education level.
Ultimately, it is up to you to decide whether this information is worth considering when trying to determine what type of job is right for you.
So whether you are new to making money or need help figuring out a seven-figure job, this article is for you!