While surfing LinkedIn, along with other professional social media websites, I’ve seen a lot of people claiming that they make a “7-figure” salary. Some people even use it as a noun and explain themselves as “7-figure entrepreneur”, “7-figure crypto investor”, and so on.
If you’ve come across this term, you’re probably wondering what it actually means.
Well, consider yourself lucky. In this article, I am going to explain what 7 figures actually mean in this article. I’ll discuss it in the context of money, salary, business, and net worth for better clarification.
Let’s start.
What is 7 Figures?
7 figures means a number containing seven digits. It means the number could range from 1,000,000 to 9,999,999.
This term is used to describe how much money a person is making. So, if someone says they earn a 7-figure salary, they’re making at least one million dollars a year.
💡Pro Tip
People use “7 figures” as a way to discuss wealth without disclosing the exact amount for privacy while still signaling success.
Understanding 7 Figures in Multiple Contexts
Professionals use this term in a number of different contexts. All of them are mainly related to money. Some of the major contexts are discussed below:
7 Figures Money
7 figures in money generally means an amount between $1,000,000 to $9,999,999. Anytime you want to describe a rough amount without explaining the exact value, you can use this term.
Since it’s a globally recognized word, people reading it would understand the context you’re trying to explain.
7 Figure Salary
A 7 figure salary means an annual income of a person working in a high-class job. It’s a huge amount of income. So, the person explaining their salary with the help of this term might be working in a very high position.
Some major job titles that could help people make this amount of money are:
- CEO
- CFO
- Investment Banker
- Professional athlete
- Actor
- Tech Entrepreneur
- COO
7 Figure Business
The 7 figure business term is used to describe a company or an organization that is making $1,000,000 to $9,999,999 in revenue. The type and nature of the company are irrelevant here.
As long as it is generating this much revenue, it has the right to call itself a 7-figure business. Sometimes, a businessman can use this term to describe the overall profit the company is making instead of the revenue. In such a case, the overall revenue would be even higher than seven figures.
Some major businesses that have the potential of generating this much revenue/profit are:
- E-commerce stores
- Real estate companies
- SaaS
- Consulting firms
- Law firms
- Financial services
7 Figure Net Worth
The term 7-figure net worth is used to describe the net worth of a person. Again, the term is used to give a rough idea of overall net worth instead of describing the exact amount.
Any person who has total assets worth between $1,000,000 and $9,999,999 (after subtracting liabilities) will be considered to have a 7 figure net worth. It will include the combined value of real estate properties, cars, expensive items like watches, and bank balance.
💡Pro Tip
Many people reach 7-figure net worth through investments and consistent savings, not just a high salary.
Different Versions of Explaining Money in Figures
7 figures aren’t the only way to describe the amount of money, business worth, or net worth. There are some other versions as well. Some of the most popular ones are:
| Term | Figures | Amount Range |
|---|---|---|
| 6 Figures | 100,000 to 999,999 | Comfortable middle/upper-middle class income |
| 7 Figures | 1,000,000 to 9,999,999 | High-income individuals & small businesses |
| 8 Figures | 10,000,000 to 99,999,999 | Wealthy business owners, top investors |
| 9 Figures | 100,000,000 to 999,999,999 | Ultra-wealthy (billionaire territory) |
| 10 Figures | 1,000,000,000 to 9,999,999,999 | Billionaires |
Is Earning 7 Figures Enough?
Absolutely! A 7 figure income, net worth, or business revenue places you in the top 1% of earners in most countries.
It’s not just about flexing rather it’s a benchmark of financial achievement. Having these figures is a great way to look forward in the future and set even higher financial targets to challenge yourself.
A Brief Guide To Building 7 Figures
As a professional, your target should be to increase your overall net worth as much as you can. For this purpose, I’ve discussed a brief guide for you below:
1. Focus On High-Income Skills
Focusing on high-income skills is a must to hit this financial target. Skills are valued all around the world. However, there are some skills that are more valuable than others and can help generate a decent amount of money.
Some skills that you can focus on learning are:
- Software development
- Digital marketing
- Project Management
- AI & Machine learning
- Consulting
2. Find Multiple High-Paying Clients
Finding high-paying clients can help earn a lot of money. This money is multiplied when you have multiple high-paying clients. Once you are able to handle multiple projects easily, making more money becomes easier.
If you’re a job holder, try to find a company that pays more. It’s important to keep on upgrading your skills to make sure your salary keeps on increasing as your expertise improves over time.
3. Make Profiting Investments
Investing in profitable assets is another important thing to achieve the seven-figure target. Investing makes sure you keep on earning passive income even without working a lot. Some of the best investment options include:
- Real estate
- Cryptocurrency
- Stock market
- Holding precious metals
4. Financial Management
No matter how much money you make, it can disappear in no time without proper financial management. Managing both personal and business finances is important to ensure a steady wealth building and avoid any unnecessary debt.
It will help you understand how you’re spending your income and what can be done to optimize earnings and expenditures. Besides this, good financial management helps you with paying taxes properly and contributes to society as well.
5. Stay Consistent & Patient
Making a lot of money in this economy could be both fast and time-consuming. A few good clients can help you generate a huge income within a matter of months. On the other hand, you may not find clients for a while as well.
So, the key here is to be patient and consistent. Always believe in your expertise and keep on managing work and finances properly. Soon, you’ll be able to hit the 7 figures and even go beyond it.
The Verdict
The term 7 figures is used to describe an amount somewhere between $1,000,000 to $9,999,999. People use this term to indirectly describe their earnings, business revenue, or net worth without telling a direct number. It’s a pretty decent way of describing earnings without revealing exact financial details.
As a professional, you should strive to make this figure so that you can showcase the worth of your expertise to the world to find more opportunities. You can follow the discussed brief guide to make this figure in a properly organized way.
People Also Ask
A 7 figure salary is an annual earning between $1,000,000 to $9,999,999.
A 9 figure salary describes a person’s annual income that is between $100,000,000 and $999,999,999.
As a slang term, 7 figures describes a person or a business that is generating money between $100,000,000 and $999,999,999.
You can count figures in money by counting each and every number in the overall amount of money. For example, $500,000 has 6 figures in it.
While not extremely rare, it requires high-value skills or assets. It’s achievable with strategic effort and time.
