A new survey compiled by Spear’s in association with WealthInsight, the leading wealth consultancy company, has revealed that more millionaires have college majors in MBAs – Masters of Business Administration – than any other subject.
12% of HNWIs studied MBA at university, followed closely by Engineering at 11% and Economics at 8%.
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% of HNWIs.
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.”