"mid-6 figure" means what? ~150K or ~500K??

[Anonymous]

Anonymous wrote:If I can be allowed to be candid and earnest here, I think I do understand the confusion. Though I agree with PPs that the logical answer is low (1-3), mid (4-6), and high (7-9), I think I understand why people sometimes confuse this and say 150k is mid-6 figures.

The reason is that this phrase (mid-6 figures) is tied up with salary. And most ordinary people don't really comprehend possibilities of 700k salaries. For many ordinary people (not DCUM land), hitting 100k salary is a major milestone -- something they look to achieve and perhaps a benchmark of "success." When they hit that mark, they have hit a 6-figure income, and "made it."

But, they don't see that 100k as part of number line that goes up to 1M. They see it, maybe, as a number line going up to 200k at the absolute highest imaginable. Thus, "mid-6 figure" morphs into a confusing phrase they intend to convey -- midway between 100k and 200k.

But, again, I agree with PPs that this usage is erroneous and confusing.

I think you are right.

[Anonymous]

Anonymous wrote:

Anonymous wrote:If I can be allowed to be candid and earnest here, I think I do understand the confusion. Though I agree with PPs that the logical answer is low (1-3), mid (4-6), and high (7-9), I think I understand why people sometimes confuse this and say 150k is mid-6 figures.

The reason is that this phrase (mid-6 figures) is tied up with salary. And most ordinary people don't really comprehend possibilities of 700k salaries. For many ordinary people (not DCUM land), hitting 100k salary is a major milestone -- something they look to achieve and perhaps a benchmark of "success." When they hit that mark, they have hit a 6-figure income, and "made it."

But, they don't see that 100k as part of number line that goes up to 1M. They see it, maybe, as a number line going up to 200k at the absolute highest imaginable. Thus, "mid-6 figure" morphs into a confusing phrase they intend to convey -- midway between 100k and 200k.

But, again, I agree with PPs that this usage is erroneous and confusing.

I think you are right.

+1

[Anonymous]

Anonymous wrote:If I can be allowed to be candid and earnest here, I think I do understand the confusion. Though I agree with PPs that the logical answer is low (1-3), mid (4-6), and high (7-9), I think I understand why people sometimes confuse this and say 150k is mid-6 figures.

The reason is that this phrase (mid-6 figures) is tied up with salary. And most ordinary people don't really comprehend possibilities of 700k salaries. For many ordinary people (not DCUM land), hitting 100k salary is a major milestone -- something they look to achieve and perhaps a benchmark of "success." When they hit that mark, they have hit a 6-figure income, and "made it."

But, they don't see that 100k as part of number line that goes up to 1M. They see it, maybe, as a number line going up to 200k at the absolute highest imaginable. Thus, "mid-6 figure" morphs into a confusing phrase they intend to convey -- midway between 100k and 200k.

But, again, I agree with PPs that this usage is erroneous and confusing.

Yep. They aren't doing the exponential math and think "mid-5s" was 50k, so "mid-6s" is 50k above the beginning of 6 figures. Also agree that for many saying that, so DCUM HHIs are unfathomable.

[Anonymous]

Anonymous wrote:If I can be allowed to be candid and earnest here, I think I do understand the confusion. Though I agree with PPs that the logical answer is low (1-3), mid (4-6), and high (7-9), I think I understand why people sometimes confuse this and say 150k is mid-6 figures.

The reason is that this phrase (mid-6 figures) is tied up with salary. And most ordinary people don't really comprehend possibilities of 700k salaries. For many ordinary people (not DCUM land), hitting 100k salary is a major milestone -- something they look to achieve and perhaps a benchmark of "success." When they hit that mark, they have hit a 6-figure income, and "made it."

But, they don't see that 100k as part of number line that goes up to 1M. They see it, maybe, as a number line going up to 200k at the absolute highest imaginable. Thus, "mid-6 figure" morphs into a confusing phrase they intend to convey -- midway between 100k and 200k.

But, again, I agree with PPs that this usage is erroneous and confusing.

SIL was talking about 6 figures. I said that's a wide range-what do you mean by 6 figures? For SIL it was over 100. 150 was mid. Over 200 was rich. Obviously Clinton thinks families are rich at 110 and 125. ACA has rich at 200/250.

Meanwhile SIL [doesn't live in the dmv] has a house that she might sell or do home improvements etc. Absolute shock at home prices for a comp house in DC or Arlington. NOVA complains that it is supporting the state. People in higher cola areas support the country via MAGHI tax points.

[Anonymous]

ex-NY state senator Hilary Clinton and the 110 and 125k college? A cop and a teacher married and living in Queens wouldn't get he benefit.

[Anonymous]

Mid six figures cannot mean 150k. It means the middle range of the six figure numbers. Can't help it your SIL can't count.

400-600kish.

[Anonymous]

Anonymous wrote:seems pretty straightforward. something that is "six-figures" means a six digit number. the six-digit number can start with anything from 1-9 so dividing it evenly into 3 groups (1-3 = low, 4-6 = mid, and 7-9 = high) yields:

Low = $100,00 - $399,999
Mid = $400,000 - 699,999
High = $700,000 - $999,999

What's the confusion?

I know, seems pretty obvious. But the great majority of people never earn that kind of money, so their disbelief trumps their logic.

[Anonymous]

I had someone do this to me once.

He works in the financial industry and said he made in the "mid 6 figures" and was interested in moving to my company.

When I explained that virtually no one in my company makes that kind of money because it's not the finance industry, he got very confused. It became clear that he meant $150k-ish.

[Anonymous]

This is an interesting discussion. I think the PP is right about why people think $150 is mid-six figures. It's difficult to imagine a salary of $500,000.