If you want to become a millionaire, don’t go to college. That’s one popular statement all these social media gurus will tell you. There are over 70,000 millionaires. But here is the fact: 95% of entrepreneurs have at least a bachelor’s degree. 80% of millionaires have a college degree. And only 50% of the millionaires have their own business.
Numbers don’t lie, it means that there are certain degrees that can increase your chances of becoming a millionaire. That is why in this article, we’ll talk about the ten degrees that make the most millionaires.
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10 Degrees that Makes the Most Millionaires in 2023
Below is a list of the top 10 degrees that makes the most millionaires
#10. Maths degrees
A mathematics degree gives you a ton of highly valued skills. This degree is pretty much difficult for most people, it helps build logic, high critical thinking skills, and high data analysis. All these are very important if you want to be successful in today’s day and age.
The types of jobs you’ll get when you graduate will involve statistics and data. Data is the most valuable asset in the world, so it’s no surprise that a mathematics degree makes it to this top list. Over a thousand millionaires surveyed have a maths degree. Maths is an abstract field, so it will be difficult to get a job after completing an undergraduate. But if you have a background in business and coding, then you can apply what you’ve learned and get tons of money.
#9. Computer science
Computer science is completely ranked as one of the highest-paying majors out there. Over 1,300 millionaires surveyed have a computer science degree. This is because the skill is practical and highly in-demand in the job market. Tech companies always pay high salaries, and big companies like Facebook and Google are known for paying some of their engineers millions of dollars a year.
Our world completely revolves around innovations and tech, think about the hundreds of startups that pop up a year. Most of them are worth millions of dollars but they have computer science gurus who are there to help them build an app. If you want to become a millionaire entrepreneur, having a computer science background can help you achieve that easily.
#8. Business Management Degrees
These are general business degrees that are set on managing a team of people and being diplomatic to solve conflicts. What all millionaires have in common is that they are leaders that know how to manage people. You can’t manage a million dollars when you don’t know how to manage people.
If you can’t deal with people no company is willing to pay you a super high salary because you cannot become a leader in the company. What differentiates a good leader from a bad leader is that a good leader knows how to manage a team of strong people. Over 1,400 millionaires surveyed have a degree in business management.
#7. Finance Majors
Finance focuses more on investment, and every single millionaire has invested his money in one single shape or form. Building a strong background in investing gives finance students an edge in growing strongly.
Over 1,500 millionaires surveyed have a degree in finance.
#6. Accounting Degrees
Having knowledge of accounting is essential for every millionaire out there. Whether you have your own business or not, what millionaires know how to do well is to keep their money and not always throw it into taxes by their actions. A lot of millionaires spend their money on things they can easily write off from paying taxes.
Inasmuch as the average millionaire has an accountant, they also have knowledge of accounting themselves. Earning an accounting degree helps you to dig deep into a company’s finances and that’s what investors use to know if a company is undervalued.
Accounting degrees will not only help you to become a millionaire but when you get there they will help sustain it and help you grow. Over 2,000 of the millionaires surveyed have an accounting degree.
#5. Law Degrees
Do you know that it is a very high-paying career that can earn you a lot of money right after you graduate from law school? Some lawyers have a salary of over a millionaire dollars, specifically lawyers that will start their own law firm.
Becoming a millionaire in your thirties isn’t that bad. That’s why an average law student should be a millionaire in about 11 years of practicing law. So, if you finish law school at 25, then you should be a millionaire in 36 years. Over 3,300 millionaires surveyed have a law degree.
#4. Business Administration Degrees
The difference between business administration and business management is that business administration focuses more on growing companies at their actual day-to-day functions, whereas business management deals more with managing the people in the company.
If you earn a business administration degree, you’ll learn some things like strategy and market research which are important in helping you run the company effectively. No wonder over 4,000 millionaires surveyed have a degree in business administration.
#3. Economics Degree
An Economics degree is one of the highest-paid degrees with lots of maths and analysis involved. You learn more about how money is controlled and how it can determine whether the economy will do well or not. Economists have the upper hand on what to do with their money.
Not many people understand money more than economists. This is why economists are one of the most common degrees among millionaires with over 5,700 millionaires surveyed having a degree in economics.
#2. Engineering Majors
Engineers train their minds to be innovative and solve problems. The best way to get money is to locate a problem and come up with solutions and engineers are known for doing that. That is why most of them are millionaires but you’re not going to become a millionaire by working just 9 to 5 jobs.
Most engineering millionaires are founders of their own companies. Jeff Bezos, Elon Musk, and Mark Zuckerberg all have backgrounds in engineering. Over 7,500 millionaires surveyed have engineering degrees.
#1. Masters in Business Administration
MBAs happen to be the degree with the highest number of millionaires. Over 8,400 millionaires surveyed have a degree in MBA. Most people going into MBA already have an established career.
They use it to meet more people and find better opportunities. In the business world, you can contribute to your success, and the MBA program can help connect you with people.
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