Top 9 College Majors That Makes The Most Millionaires In The World
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| Which college major makes the most millionaires and billionaires? |
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Leaving high school, most young people think about the fields of study and university degrees that often produce millionaires, even billionaires in the world. In fact, it is true that there are university courses and certain degrees that often make you rich.
Of course, you need to understand that not just studying these majors and having these degrees will make you rich.
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There are a lot of high school students looking for the best college majors for job prospects. Since college isn't cheap, choosing a profession that can help pay the bills is crucial. However, some occupations provide greater financial reward than others. However, if you want to know which majors can make you a millionaire, you're in the right place.
A college education is valuable regardless of whether you recognize its value. You don't need it for every career path, and you can succeed in many fields without it. We learn more than just the specifics of our chosen careers in college, though. They teach us valuable lessons about life and work while also planting the seeds for a lifetime of hard work.
Even more convincing is the fact that only 1% of all millionaires in the world never completed an undergraduate degree program. The choice of a major is critical if you plan on pursuing a career in which you can earn a living wage, but of course money isn't everything.
Here is a list of degrees that have produced the most millionaires, useful whether your goal is to become one or simply to earn a comfortable living.
Top 9 Best College Majors That Make The Most Millionaires
1. Engineering
If graduates of engineering, a broad field with many subfields, know how to use their resources, they can become extremely successful and wealthy.
Engineering is the most frequent college major that produces the most millionaires and billionaires, according to a study on the educational backgrounds of the billionaires on the Forbes list of the richest people in the world. This is not a random variable or an accident. Some of the wealthiest people have a common degree for a reason. This makes it perhaps a major you ought to research.
Why did we place engineering as the top major? Considering that the majority of the world's wealthiest people have engineering degrees or higher. Additionally, 22% of the first 100 billionaires in the world studied engineering.
According to a Recode study survey, 56% of engineers think they will become millionaires at some point in their lives. Similar to this, 69% of the engineers who responded to the survey said that engineering is "recession-proof," making it a job of the future.
Want to see some illustrations?
Listed below are a few of the wealthiest engineers who attended college:
• The founder of Amazon, Jeff Bezos, holds a bachelor's degree in both computer science and electrical engineering. $133 billion in net worth.
• A Mexican business magnate named Carlos Slims holds a bachelor's degree in civil engineering. $85 billion in net worth.
• With a Bachelor's in Computer Engineering and a Master's in Computer Science, Larry Page is the co-founder and CEO of Google. $98 billion is its net worth.
• Engineer Bernard Arnault serves as the CEO of LVMH (Louis Vuitton Moet Hennessy). $72 billion in net worth.
• Charles Koch, co-owner and CEO of Koch Industries, has a general engineering bachelor's degree as well as master's degrees in mechanical and chemical engineering. $60 billion is its total worth.
• Business tycoon and co-owner of Comcel in Guatemala, Mario Lopez Estrada, holds a bachelor's degree in civil engineering. $1 billion is the net worth.
• A mechanical engineering bachelor's degree is held by Francis Durman Esquivel, a Costa Rican business tycoon and the head of Manga Rica, Grupo Montecristo, and Yanber Corporation. The $400 million net worth.
There are many different majors in the vast field of engineering. Here are some of the engineering majors with the highest salaries and demand. engineering specialties in computer science, architecture, civil engineering, mining, mechanical engineering, electrical engineering, nuclear engineering, and nuclear energy.
The degrees of some of the richest people in the world show that they have studied everything from computer engineering to civil engineering. There isn't a single degree in particular that stands out. Any of these degrees can lead to success. Of course, these millionaires and billionaires are the result of factors other than just their engineering degrees.
Nearly all STEM (science, technology, engineering, and math) majors are consistently at or near the top of the list of majors that earn the most money, according to The Top 5 In-Demand College Degrees in 2023. Because they are solid majors that lead to employment and high salaries, STEM fields are a great choice for this reason.
You can join their club now that you are aware of the college major that produces the most millionaires and billionaires.
Top University for Engineering:
Top 25+ Most Prestigious Schools for Engineering In the US 2023/2024
2. MBA (Master of Business Administration)
Like engineering, there are numerous academic specialties.
Why students selected a business master's program over an engineering one. The majority of students gave the same answer. Although they had already achieved success in their careers, they still needed two things in order to advance to the positions of managers and executives in their current industry. Since all of their peers also held engineering bachelor's degrees, they first needed a higher degree than everyone else. They also needed to comprehend how businesses operate, including fundamental managerial, accounting, and leadership skills, which are the main areas of study for MBA programs. Therefore, having both degrees would provide these professionals with twice as many opportunities, and that is where the key to success lies.
One of the best decisions you can make if you're enrolled in an economics, business, finance, or other social degree program is to pursue a master's in business administration. The length of a master's program varies depending on the previous degree program you completed and the university you are attending.
The salary of working individuals with an MBA increased by 50% compared to those without, according to data. Employers favor people with MBAs over those without them because they have more knowledge, skill, or experience. Furthermore, compared to other Master's degrees, the MBA is valued and appreciated more.
Top University for MBA:
MBA Online: How and Should I Get
3. Politics
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| Forbes Richest |
With roots in the founding of democracy in Ancient Greece, politics is one of the oldest professions in the world. Today, though, it might be among the most lucrative degree options. This is a promising career path due to the increase in demand for political strategists around the world.
Former US President and millionaire Barak Obama is one former graduate in politics. He earned a BA in political science from Columbia University in 1983.
Journalists, former British Leader of the Opposition Ed Miliband, and former British Prime Minister David Cameron are some other millionaire politicians with degrees.
Former politicians have gone on to land lucrative book and television deals as well as upcoming speaking careers.
Therefore, one of the careers that produces the most millionaires both while employed and after leaving the political ring is politics.
Top University for Politics:
Top 10+ Most Prestigious Schools for Political Science in the US Today
4. Biochemistry
Since the pharmaceutical industry is so dominant today, we are not surprised to see biochemistry on this list. Because they are curious about how some medications and treatments are created, many people enroll in biochemistry courses. They are also motivated by curiosity and a desire to find cures for the most infamous diseases in the world. Additional fields where biochemistry is useful include dentistry, dentistry, agriculture, nutrition, veterinary medicine, and more.
Christine Poon, who served as the former chairman of Johnson & Johnson, a company that develops pharmaceutical products, is one of the millionaire biochemists that we are aware of.
Remember that getting a biochemistry degree is by no means simple. To be considered for employment in renowned labs, one must have years of education, extensive research, and multiple graduate degrees. Typically, an undergraduate degree is only the first step toward a secure future; it is not sufficient in and of itself.
However, even though there is a lot of money invested in this degree, becoming a millionaire takes a lot of commitment and effort.
Top University for Biochemistry:
 Top 20+ Most Prestigious Schools For Biology and Biochemistry in The US Today |
5. Law
It's challenging to practice law, as it is a discipline. It can be difficult to work in law and to find a job in general because it is one of the few professions where your career solely depends on your academic performance. Some people find fulfillment in studying law, especially if they have good memory and communication skills.
But some people find law school to be a nightmare. It's a challenging journey that takes a while and involves a lot of theory that must be recalled both during the day and at night. What's more, the journey doesn't end when you get your degree or obtain your specialization. That's only the start.
Many prosperous law school alums who were successful in landing their dream jobs and building successful careers assert that becoming millionaires after law school is far from simple. For law school alums, it may take up to 15 years before they break through to millionaire status.
Oil tycoon Richard Kinder, Walmart heir Samuel Robson Walton, and many other law school alums have succeeded in the world of millions and billions.
| The first five years of a lawyer's average mean salary in the UK range between £30,000 and £54,000, which isn't exactly earth-shattering. However, this increases steadily as you gain experience, and lawyers with over 15 years of experience can expect salaries of £180,000 or more annually. |
Top University for Law:
Top 10+ Most Prestigious Schools for Law In the U.S 2023/2024
6. Finance/Economics
It comes as no surprise that pursuing a degree in finance or economics can help you reach your goal of becoming a millionaire more quickly.
No matter which majors we listed here, it wouldn't be useful if we left out economic, business, and finance majors since they deal with and learn how to manage a student's ability to exponentially increase their income. Because of this, the majority of millionaires probably possess one of the previously mentioned three degrees.
For those who pursue degrees in finance or business, there are numerous employment opportunities. Working in various corporations in finance-related positions could result in you becoming a millionaire, unless you decide to become an entrepreneur and launch your own lucrative business, which makes the most sense for someone who studied business.
Executives, accountants, bank employees, and others hold such positions. However, the route you're taking is hardly simple and even less swift. It takes time to finish your coursework, graduate, and find a promising job opportunity that will help you advance.
Financial analysts can make as little as $200,000 annually and as much as several million dollars, according to a Wall Street report from 2018. As you can see, accumulating experience and building a portfolio are what lead to high salaries.
The highest paying finance positions on Wall Street can bring in over $20 million, and that employment in the banking industry can also result in very generous pay.
We previously looked at the top ten economics programs in the UK, so it's not just the USA that offers great opportunities in this field.
Although these jobs frequently require long hours and considerable stress, the rewards can be astounding.
Top University for Finance:
Top 10+ Most Prestigious Schools for Finance & Financial Management In the US Today
Top University for Economics:
Top 10+ Most Prestigious Schools for Economics In the US 2023/2024
7. Computer Science
IT and computer science are still expanding, and this trend is expected to continue. That's because other fields like medicine, science, social media, business, and more are impacted by the computer science and software engineering industries.
The internet operates according to well-designed, reliable algorithms and computer hardware. After all, technology has an impact on various social media. Because demand is growing faster than the number of new computer scientists graduating, it's also one of the professions that won't go out of style anytime soon.
That being said, as soon as a student graduates from college, there will always be jobs available for those interested in becoming computer scientists. In addition, new disciplines will open up as future tech workers are trained for them in colleges and boot camps.
Computer scientists can become millionaires in many ways. More significantly, computer science is one of the few professions where you can start working right away without a college degree. Perhaps not in academia, but it is definitely possible in the business world where employers are more concerned with your portfolio and your abilities than what your degree entails.
The average starting salary for computer science graduates is about $61,000, which places them second only to engineering graduates in terms of pay.
For a first job, that is a ridiculously high salary, and things can only get better from there. At Google or Facebook, software developers can earn up to $120,000 annually. Find out more by reading our article on the highest paying computer science jobs!
But creating your own software and applications is where the real money in computer science is to be found.
Today's top 200 apps worldwide bring in an average of $82,500 per day.
Top University for Computer Science:
 Top 15 Most Prestigious Schools for Computer Science in the US 2023/24 |
8. Marketing
The modern art of selling is marketing. When people believe one form of marketing and advertising is finished, a new one that is superior to the first one appears. With the exception of being the art of making good sales, marketing can be described as the modern form of art.
Numerous marketing strategies, including advertising, TV marketing, and digital marketing, have peaked in recent years. Tech giants hire a lot of marketing firms to create content that will appeal to consumers, and they can make hundreds of thousands of dollars doing so.
Copywriters, or writers who are excellent at marketing and sales, can pitch an idea, slogan, or brochure and make a million dollars in a few years. If you work for another company or agency, a marketing degree probably won't make you rich. But putting your concepts into action and marketing them might pay off.
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| Which degrees make the most millionaires |
9. Mathematics
The versatility of career options available to those with a mathematics degree is a strong indication of the potential of this field of study.
Students who major in mathematics have a wide variety of career options to choose from, including those in the business world, the scientific community, and the public sector.
Many of the world's millionaires have degrees in mathematics, including the musician and multimillionaire Art Garfunkel, who earned a master's degree in mathematics from Columbia University in 1967. Maths graduates make up a significant portion of the world's millionaires.
Conclusion
Even though money isn't everything, the aforementioned fields of study may pave the way to financial success or at least provide insight into the kind of mindset that helps one become a millionaire.
Many college freshmen and recent grads are still undecided about their chosen field of study. They are looking for a field of study that will both satisfy their personal interests and provide the most promising professional prospects upon graduation.
College is very expensive. Time and money, two of your most valuable possessions, are being used up. There is a clear hierarchy of importance among the various college majors. You should prioritize getting a degree held by many of the world's wealthiest people. In some situations, even a small advantage over other people can make all the difference.
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