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  1. Wealth
September 19, 2016

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

By Codelia Mantsebo

Extensive data on the top 10 subjects studied by millionaires has been exclusively compiled by Spear’s in association with WealthInsight, the leading wealth consultancy company.

The newly released data shows that more millionaires have degrees in MBAs – Masters of Business Administration – than any other subject.

12 per cent of HNWIs  studied MBA at university, followed closely by Engineering at 11 per cent and Economics at 8 per cent.

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

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 per cent 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 12.10%
2 Engineering 10.70%
3 Economics 8.20%
4 Business Studies/BBA 5.90%
5 Law 4.70%
6 Accountancy 2.90%
7 Finance 2.10%
8 Management 2.00%
9 Commerce 1.90%
10 Computer Science 1.90%
11 Politics 1.30%
12 Mathematics 1.10%
13 Medicine 1.00%
14 Physics 0.90%
15 Chemistry 0.90%
16 History 0.80%
17 Marketing 0.70%
18 Biology 0.60%
19 Psychology 0.60%
20 Philosophy 0.60%

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