January/February 2014

PE REPORT
The Million Dollar Degree

Young people with aspirations of becoming millionaires should consider engineering.

According to a recent study of 70,000 people worth at least $1 million, an engineering degree is the top producer of millionaires worldwide, beating out an MBA and degrees in law and computer science. The study was conducted by research organization WealthInsight and Spear’s magazine.

Engineering graduates who achieved millionaire status often became entrepreneurs. Says Josh Spero, Spear’s editor, “Entrepreneurs, who ultimately end up being the wealthiest in the world, are innovators, and the top subjects are those [that] encourage new and smart thinking, whether technical or financial.”

The study also gathered information from 500 universities worldwide. According to the study, the majority of the millionaires were educated in the US or UK.

Top Millionaire-Producing Schools

1. Harvard University (US)
2. Harvard Business School (US)
3. Stanford University (US)
4. University of California (US)
5. Columbia University (US)
6. University of Oxford (UK)
7. Massachusetts Institute of Technology (US)
8. New York University (US)
9. University of Cambridge (UK)
10. University of Pennsylvania (US)

Top Millionaire-Producing Subjects (Graduate and Post-Graduate)

1. Engineering
2. MBA
3. Economics
4. Law
5. Business Administration
6. Commerce
7. Accounting
8. Computer Science
9. Finance
10. Politics

Top Millionaire-Producing Subjects (Post-Grad)

1. MBA
2. Law
3. Engineering
4. Economics
5. Finance
6. Management
7. Computer Science
8. Medicine
9. Accounting
10. Mathematics

Source: WealthInsight and Spear's