It can seem impossible to make a 7-figure salary, especially in the beginning. A million dollars might seem like a lot to earn, but it’s But it may be closer than you think. You can do anything if you set your mind to it, even a 7-figure salary.
There are many 7-figure salary jobs that you could consider. Plus, there are other ways to make a 7-figure income. Let’s get into the details about what a 7-figure salary is. How to make your dream come true skills to help you get there
A 7-figure salary might feel like It is a difficult feat especially If you are just starting in your career. Although it may seem far-fetched, one million dollars can be a significant amount. What are you capable of earning But it may be closer than you think. you can do anything if you set your mind to it You can also make a 7-figure salary.
What is a 7-figure salary?
What is a 7-figure salary? A 7-figure salary is equivalent to 1 million dollars. A 6-Figure Salary, on the other hand, you earn between $100,000 and $999,999 annually. It is possible to make a 7-figure income with more than one base salary.
Is a salary of 7 figures realistic?
Although a 7-figure salary is possible, it requires hard work. IRS’s most recent data shows that 538,651 households have high-income incomes above $1 million out of the 153.774,296 tax returns.
However, most people in these groups didn’t make 7-figures. Most of these people started out in lower-paying jobs and then worked their way up. You can too if they did it!
Skills to obtain to reach a 7 figure salary
You can acquire skills that will allow you to earn a seven-figure salary. What most people don’t realize is that you don’t have to be a genius in order to make 7 figure income. You can do this through hard work alone. Owning your own business with no earnings cap is the best way for it to happen.
Take, for example, Michelle Schroeder Gardner a blogger who earns over $1,000,000 per year! You are the only one standing in your way of success. You have complete control.
You can do it all on your own but having specific skills will help you stand out when you apply for 7-figure salary jobs or start your own business. These high-income skills are worth considering:
- Writing and blogging
- Management skills for business
- Finance skills
- Sales skills
- Presentation skills
- Acting skills
- Athletic skills
- Fashion skills
Also read: Top 50 Gig Apps to Make Money
Top 7 figure salary jobs
You may need to think outside of the box if you want a 7-figure salary job. You can make a 7-figure income as a CEO or a rockstar sales executive. However, there are some 7-figure salary jobs that are more dream-worthy than those that you might be able to do, such as acting or playing professional sports. It is important to remain open-minded while following your passions!
1. Business owners
Being a business owner offers many benefits. The best chance of making 7 figures is because you have no one standing in your way you need to be an entrepreneur and willing to diversify to achieve the milestone.
Remember that owning your business requires tenacity, hard work, and perseverance. You have the best chance of reaching seven figures if you have the right mindset, goals, and skills.
A 7-figure business can be built around your passions and skills. Whether you’re selling digital or physical products or providing a service. Again, bloggers, lifestyle influences, or online shops could all make 7-figure incomes!
2. CEOs and other C-level executives
C-level executives and CEOs have a lot of responsibilities. They are also well-paid. According to the Economic Policy Institute, the average CEO in the top 350 US companies earns $24.2million and earns earn 351 times the salary of the ‘average worker.’The highest-paid companies include Apple, GoodRx Holdings, and Tesla.
3. Corporate lawyers
Although lawyers don’t always start off making $1,000,000 or more, it is possible to earn seven figures as lawyers move up the ladder.
Many lawyers have built their small businesses to seven figures by treating them like a business. This includes a focus on marketing, sales, strategy, and systems.
Lawyers who are perceived as specialists with a higher value can charge more by narrowing down their practice areas to just one or two.
4. Investment bankers
While investment bankers have a base salary of that is six figures, most of their income comes in the form of bonuses and commissions. They are the company’s source of capital and they work hard to obtain it.
Investment bankers are often required to work extremely long hours in exchange for a high salary. Because of their potential earning potential, investment banker positions can be highly competitive.
To be considered for this job, you must be a top performer. You can earn this 7 figure salary job if you have the right education and drive.
You probably think of business professionals when you think about a 7 figure salary. But times are changing and YouTube celebrities are reaching the 7-figure mark more often.
You can call them sponsors, influencers, lucky ducks, or lucky ducks. YouTubers have a lot of income. However, it’s not as simple as it seems.
Influencers make money through a variety of channels including sponsorships, commissions, and direct sales. All it takes is to build the following that will allow you to earn the income you desire.
6. Actors and actresses
Famous actors such as Will Smith can make between $40 and $80 million per year. While not all actors or actresses will make it big like Will Smith with enough exposure and experience, they can still make 6 to 7 figure incomes.
Everyone must start somewhere and you can only move up from there. You might be amazed at the number of high-earning actresses and actors who made it big without any experience.
7. Professional athletes
While not all professional athletes make a seven-figure salary, with sponsorships and endorsements, many can easily reach or exceed that threshold.
It’s not about how good they play, but also how popular they are and how many companies want to sponsor them.
It is possible to become a professional athlete, even though it can be hard. Particularly if you can start young. Participate in sports competitions and get high grades.
8. Fashion designers
Fashion designers can be likened to starving artists. They often start with a very low salary. One win can take them to the top.
Fashion designers who make it big often have the opportunity to meet celebrities and show their work on the runways and at the most prestigious events. You could also learn how to be a fashion designer and start your own business!
9. Sales executives
Sales executives in enterprises are most likely to reach 7 figures because of the complexity and scale of their sales. Software and technology sales executives make 7-figures.
Sales reps can start with lower salaries, and in other industries. As they get more experience and improve their skills, however, sales reps can earn higher salaries. They have the potential for reaching their 7-figure salary goal.
Five ways to get a 7-figure salary
It’s possible to still believe that a seven-figure salary is an unrealistic dream. It’s important to set ambitious goals and have big dreams! Here are some ways to make a 7-figure income.
1. Make products, services, and courses
Create products and services that don’t exist yet, or fill a gap that other products or services don’t. Your goal is to make your product or service stand out among the rest and to give your audience an incentive to buy from you.
Do you have a skill you can share with others? This topic can be made into books or courses that you can sell. You can sell your course online through sites such as Teachable and Udemy.
2. Attain higher education
In some cases, advanced education can help you achieve your 7-figure goals. It all depends on your line of work. Extra education may be beneficial for a CEO or an investment banker, for example.
You will learn skills and techniques you won’t find in basic education. These will help you stand out from the rest and make more money. It’s better to look for other ways to finance your education than student loans.
3. Create multiple streams of income
An average millionaire has seven streams of income. Diversifying is the best way to make sure you don’t end up with all your eggs in one basket.
Instead, can create multiple streams of income to earn as much as possible. You have six sources to draw on if one source fails, while you work out how to make it better or replace it.
Side hustles or passive income are two ways to create income streams. This can be anything, from renting a property to opening a high-yield savings account to purchasing a rental home to selling digital products online.
4. Network with 7-figure salary earners
Network with others who have made it. This is a great way to find out more about earning a 7-figure salary. Learn from others who have achieved the goals that you set. What can you learn from them? What can you learn from them?
You can connect virtually with LinkedIn your connections or other relevant groups. You can also search local events for networking to attend in person.
Never underestimate the power and potential of networking even if you think you don’t know enough. Sometimes, all it takes is to connect with the right person.
5. Use social media to gain exposure
Today, getting media exposure is easier than ever. It’s easy to get your name out through social media. You can build an audience by sharing informative and entertaining content that is relevant to your product/service. You’ll naturally attract people if they are looking for a place to work or buy from.
Although it takes hard work and dedication to consistently publish content, once it starts rolling, it doesn’t stop. Promote on social media sites like Instagram, Facebook, and YouTube to increase exposure & boost income
It is possible to make a 7-figure salary!
You need to create a plan and set goals if you want to achieve a 7-figure income. Take your big goals and cut them into manageable goals.
Take a look at the bigger picture and imagine where you will be in 5-10 years. Are you on the right path to reaching your 7-figure dreams? Or do you need to change your approach in order to get there?
Even if your net worth is 7 figures, you still need to know how to save, use, and invest it. Want even more inspiration? Learn more about how to make 10 figures.