When people are talking about money, you hear the term “5 figures” a lot. But when most people talk about making money, they’re referring to earning five figures or more in a year. Figuring out how much is 5 figures in money can be tricky, especially if you’re unfamiliar with the metric system. When it comes to money, there are a lot of different ways to measure its worth.
Another way to do so is by looking at how many figures are in a sum of money. The more figures there are, the higher the sum of money is. If you want to know what that looks like and how you can achieve it, read on for the complete guide to making money in the five-figure range.
What Is the Meaning of 5 Figures in Money?
If you’ve heard someone say they make five figures, they’re referring to their income. More specifically, they say they make between $10,000 and $99,999 annually. This is typically considered a good salary, although it varies depending on your location and lifestyle.
In some cases, five figures can also refer to a one-time sum of money, such as an inheritance or lottery winnings. In general, five figures in cash refers to a sizable amount of money that can significantly impact someone’s life.
A 5-figure salary can comfortably support a family in most parts of the United States, but it might not go as far in a high-cost city like New York or San Francisco. In general, though, five figures are a good income and one that most people would be happy to have.
What Is a 5-Figure Salary?
Five-figure incomes are becoming more and more common. In fact, the median household income in the United States was $67,521 in 2020. Five figures mean that a person earns at least $10,000 and less than $100,000. This can come from various sources, such as work salary, commissions, bonuses, or any other type of earnings on top of base income.
Five-figure salaries provide a comfortable lifestyle for many people, especially if they earn closer to $100,000. This is a pretty wide range, but it’s general enough to give you a good idea of what you can expect to make if you’re bringing in 5 figures. Of course, your salary will depend on several factors, including your experience level and where you live. Five-figure salaries provide a good standard of living and can help people achieve their financial goals.
Is 5 Figures a Good Salary?
Most people believe that five figures salary is a good amount of money. However, it is only a good salary if it meets specific criteria. The first criterion is the cost of living in the area where you work and live. If you live in a developing country, a five-figure salary is a good amount. But, if you live in a developed country with a high cost of living, such as the United States or the United Kingdom, then five figures salary is not enough to live on.
Another criterion is the range of your salary. If your salary is in the lower spine, five figures may not be enough to cover your expenses. But if your salary is in the upper range, five figures may be more than enough to cover your expenses. A low 5-figure income typically falls between $10,000 and $40,000, while a high 5-figure salary is around $70,000 to $99,999. Anything in the middle would be considered average.
Finally, you can also consider five figures salary enough or not enough depending on the time you take to earn it. For instance, earning a five figures salary in one year may be considered insufficient. But if you make five figures salary for several years, it may be enough. So, 5 figure salary is only good if it meets specific criteria such as cost of living and range.
How Much is 5 Figures a Year?
Five figures a year means an amount between $10,000 and $99,999. In the US, 5-figure salary earners are mostly in part-time positions. Some jobs that offer this kind of salary include freelance writing, VA assistants, babysitters, and pet walkers. These gigs offer flexible hours and the opportunity to make extra money.
Five figures a year is an excellent annual income, but it is not enough to live a luxurious life. If you want to make five figures a year, start looking for part-time jobs that fit your skills and schedule. You can also look for ways to make extra money on the side. With effort and perseverance, you can reach your goal of 5 figures a year.
How Much Is 5 Figures a Month?
Five figures per month is a wage of $833.33-$8333.25 per week. To break it down, five figures mean five digits before the decimal point in the number. Five figures salary per month is $10,000-$99,999. The salary in CAD is $41,667, which comes to $5,208 per month. The average five figures salary in the US is $50,000 annually, which comes to $4,167 per month.
As you can see, while the 5 figure salary might not seem like much, depending on the currency and country you live in, it could be a livable wage. Five figures salary in GBP is £38,462, which is £4,381 GBP per month. 5 figures salary in AUD is $54,545, which is $6,818 AUD monthly. 5 figures salary in EUR is €44,444, which equals €5,556 monthly.
How Much Is 5 Figures a Week?
Five figures a week is usually between $192.31 and $1,923.05, depending on the exact amount. Five figures refer to the number of digits in a number, so five figures would be 10,000-99,999. The average person makes about $40,000 a year, which is equivalent to $767 a week, so five figures a week is quite a bit more.
Five figures a week is also more than double what the median household income is in the United States, which is currently about $52,000 a year to roughly $519,948. If you’re making five figures a week, you’re doing well.
How Much Is 5 Figures a Day?
When people talk about five figures a day, they typically refer to an income of at least $10,000 per day. This is a very high income, and it’s not something most people will ever earn in a single day. However, there are a handful of ways to make five figures a day, many of which don’t require much work. For example, online poker players can easily make five figures daily by playing high-stakes games.
Similarly, people who invest in penny stocks can also see 5 figure returns in a single day if the stock price spikes. People who work physically demanding jobs like firefighters or construction workers can also make five figures in a day if they work overtime or have shift differential pay.
Every day, lucky people worldwide who fall into occupations such as athlete, artist, actor, and executive earn large sums of money. In addition to these fortunate individuals in America, Founders of successful companies like Walmart, Amazon, Apple, and Microsoft make five figures daily.
5 Figure Salary Jobs Near Me
Five figures mean a lot of different things to different people. For some, it’s the amount of money they make in a year. For others, it’s the size of their bank account or the value of their investments. To put it into perspective, a 5-figure salary is five times the median household income in the United States. That means 5 figure salaries are reserved for the top 10% of earners.
If you’re searching for five figures salary employment, consider the following occupations:
|Occupation||Median Hourly Wage||Annual Mean Wage|
|Farmers, Ranchers, and Other Agricultural Managers||$35.12||$78,440|
|Education and Childcare Administrators||$45.68||$99,280|
|Food Service Managers||$ 28.58||$ 63,970|
|Postmasters and Mail Superintendents||$ 38.58||$ 81,820|
|Property Appraisers and Assessors||$ 29.49||$ 70,050|
|Tax Preparers||$ 22.26||$ 51,080|
|Computer User Support Specialists||$ 23.93||$ 57,650|
|Cartographers and Photogrammetrists||$ 33.12||$ 73,510|
|Preschool and Kindergarten Teachers||$17.65||$43,060|
|Librarians, Curators, and Archivists||$23.59||$55,520|
|Art and Design Workers||$23.18||$58,910|
|Writers and Editors||$34.44||$78,950|
|Interpreters and Translators||$ 23.61||$ 58,400|
|Photographers||$ 18.73||$ 48,210|
|Building Cleaning Workers||$14.20||$31,310|
|Bartenders||$ 12.67||$ 30,340|
|Dishwashers||$ 13.52||$ 27,350|
|Barbers, Hairdressers, Hairstylists, and Cosmetologists||$14.27||$35,980|
|Tree Trimmers and Pruners||$ 22.58||$ 47,450|
|Manicurists and Pedicurists||$ 14.05||$ 30,480|
Source: Bureau of Labor Statistics
While many of these jobs offer hourly rates, you’ll often need to combine two or more side hustles to make a decent income. And these jobs can be very competitive, so putting your best foot forward when applying is essential. If you keep these things in mind, you’ll be well on finding the 5-figure salary job of your dreams.
How Much Is 5 Figures: Conclusion
Five figures are a lot of money. It can be life-changing, it can be career-making, and it can provide security for you and your loved ones. But as we’ve seen throughout this series, getting to 5 figures isn’t easy – it takes hard work, dedication, and focus.
If you want to make more money in your business, start by looking at where you are today and setting some realistic goals for yourself. Remember that it’s not about working harder (although that may be part of the equation) but about dedication and working smarter.
We hope you enjoyed this article. Please check out our post on How Much Is 4 Figures in Money? The Ultimate Guide for more helpful tips and ideas!