There is the six-figure salary in the corporate world. It is a salary at least $100,000. A five-figure salary can be earned by individuals who make less than this, but earn at least $10,000. What is a Six Figure Salary? You can make a million dollars and still have a great job.
Who wouldn’t want to be able to earn a good salary, especially if it is six figures? Salary is one of the most important factors in job applications. Most, if not all, professionals, are always on the lookout for jobs that come with financially rewarding compensation and benefits.
How can you make a six-figure living?
Are you keen to have a six-figure annual salary? It is important to start taking your education seriously. The first step to financial success is building a solid foundation. According to the Occupational Outlook Handbook of the Bureau of Labor Statistics, only 55 out of 818 jobs listed offer median salaries of at least $100,000 every year. 53 jobs require at minimum a bachelor’s level.
Several industries pay well and offer more opportunities for advancement, so it is crucial to choose your career path carefully. For a career that pays six figures, it is best to continue your education. These are some careers that may be worth considering if you’re looking for a six figure salary.
1. Actuary
Insurers employ actuaries to evaluate risks and reduce costs through statistics and mathematics. In 2018, the average annual salary for actuaries was $100,610. Actuaries typically hold a bachelor’s degree in mathematics, statistics, or actuarial science. Many people also take courses on programming languages and databases.
2. Finance manager
Banks, insurance companies, and other organizations employ finance managers who are responsible for developing strategies to keep the company financially sound and stable. A finance manager’s average annual salary is $121,750. Do you want to be a finance manager? You will need a bachelor’s in finance, accounting or a closely related field. Some employers prefer candidates with an MBA. If you want to know how to save money in college for their meaningful expenses check out there how to save money in college.
3. Internist/Internal medicine doctor
The Bureau of Labor Statistics has data that shows doctors often earn six-figures annually. An example is the $182,370 annual median salary for internists. We all know that medical professionals spend many years learning. Doctors need to have a bachelor’s and medical school degrees. They can also do an internship or residency that lasts three to seven year.
4. Petroleum engineer
Petroleum engineers are responsible to create ways to extract oil or gas from the ground. A median six-figure salary for a petroleum engineer is $128,230. You must have a bachelor’s in petroleum engineering, civil, chemical, mechanical, or other engineering to be able to work for an oil company as a Petroleum Engineer.
5. Software developer
In this digital age, software developers are highly sought after. App developers are paid a median salary of $102,280 per year. They usually hold a bachelor’s in computer science. However, this field is not for everyone.
Key Takeaway
Advanced education is the best way for a high-paying job. But it doesn’t necessarily mean that it’s the only route. As in software development, employers often hire people without a degree. Having in-demand skills is the next way to a six figure salary. A lack of formal education can be compensated by acquiring desirable skills. If you have the right skill set, experience and qualifications, you can still make six-figures or more
