What to Study to Become Millionaire

What to Study to Become Millionaire

Want to become a millionaire? Research reveals what to study in order to make it

What to Study to Become Millionaire

  • MBA named the most popular degree held by 12% of HNWIs
  • Engineering, Economics, Business Studies and Law also make top five
  • Vocational subjects dominate top of the list, with History and Psychology being held by only 1% of HNWIs

More millionaires have degrees in MBAs – Masters of Business Administration – than any other subject, according to a new study by Spear’s Magazine and leading wealth consultancy company WealthInsight.

In a new study highlighting the 10 most popular undergraduate and postgraduate degrees that are held by millionaires around the world, the research shows that 12% are MBA graduates, followed closely by Engineering at 11% and Economics at 8%.

Also in the top five includes Business Studies at 6% and Law at 5%.

The findings show a trend in vocational subjects often producing the most millionaires, with degrees in History and Psychology being held by less than 1% of HNW individuals.

Oliver Williams, Head of WealthInsight commented:  “Wealthy individuals are often entrepreneurs and innovators who benefit from degrees that encourage new and smart thinking. It is therefore no surprise to see that a high number of scientific and financial degrees are studied by millionaires: Numerical degrees are a particular advantage when it comes to amassing a personal fortune.

“With the exception of the MBA and Business Studies, few of these degrees materialise as outright vocational pursuits. Most engineering graduates, for example, are not engineers but entrepreneurs. The same goes for most law and accountancy graduates who make their wealth in professions outside their degrees.”

 

   

TOTAL HNWIs

 
  Subject Percentage of Total

1

MBA

12.1%

2

Engineering

10.7%

3

Economics

8.2%

4

Business Studies/BBA

5.9%

5

Law

4.7%

6

Accountancy

2.9%

7

Finance

2.1%

8

Management

2.0%

9

Commerce

1.9%

10

Computer Science

1.9%

11

Politics

1.3%

12

Mathematics

1.1%

13

Medicine

1.0%

14

Physics

0.9%

15

Chemistry

0.9%

16

History

0.8%

17

Marketing

0.7%

18

Biology

0.6%

19

Psychology

0.6%

20

Philosophy

0.6%

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