Degrees that produce the most millionaires (2024)

FAQs

Degrees that produce the most millionaires? ›

You can study Engineering, Economics/Finance, Politics, Mathematics, Computer Science, Law, or MBA to enhance your financial strength, as these are some of the highest-paying degrees in the world.

Engineering

While it's possibly not one of the most predictable entry placements on our list, engineering takes the top spot, yielding a greater number of millionaires than any other degree subject, according to Spear's and WealthInsight.

In broader terms, the finance and investment profession has the most millionaires. It also has the most billionaires, with 371. Here's a list of the seven best careers if you want to be a millionaire.

1. Harvard University. Learn more about Harvard University.

Others who were business majors include Oracle of Omaha Warren Buffett, Salesforce's Marc Benioff and Walmart heir Jim Walton. That makes it the most popular undergraduate degree of America's richest, but only by a slim margin — economics and engineering ranked a close second and third.

A recent study published in the American Educational Research Journal found that engineering and computer science majors provide the highest returns in lifetime earnings, followed by business, health, and math and science majors.

Jobs that pay $1 million dollars a month include franchise owners with multiple locations. For example, Shaq owns lots of 24-Hour Fitness clubs. Franchise owner is on the list of jobs that pay $1 million dollars a month because it's achievable if you think big.

By those standards, the five jobs with the most millionaires are engineer, accountant, teacher, people in management, and lawyer. Doctor is sixth. They make a lot of money, but also spend a lot.

Ninety-three percent of millionaires said they got their wealth because they worked hard, not because they had big salaries. Only 31% averaged $100,000 a year over the course of their career, and one-third never made six figures in any single working year of their career.

Ninety percent of all millionaires become so through owning real estate. More money has been made in real estate than in all industrial investments combined.

Which field is best for millionaire? ›

You can study Engineering, Economics/Finance, Politics, Mathematics, Computer Science, Law, or MBA to enhance your financial strength, as these are some of the highest-paying degrees in the world.

The University of Pennsylvania has the most billionaires among its alumni, with 36, including Elon Musk and Donald Trump. Stanford University ranks second, with 33, followed by Harvard, with 28, and Yale, with 19. Wealthy alumni networks often result in significant financial contributions to a university's endowment.

The U.S. is now home to 37% of the world's millionaires, up from 35% in 2018. The divergence grows even more at the top of the wealth ladder. The U.S. has 9,850 centi-millionaires — those worth $100 million or more — compared with China's 2,352.

A striking 88% of millionaires graduated from college, far surpassing the 38% in the general population. Impressively, over half (52%) of the millionaires in the study held master's or doctorate degrees, compared to just 13% of the general populace.

Therefore, the comparative and superlative degrees of the word 'rich' are 'richer' and 'richest' respectively.