Seriously, what is the best degree one can obtain to become a billionaire? When we look at the matter closely, we’ll see that it’s not about having a specified degree, but rather what you do when you get that degree. It’s about who you know and who knows you when it comes down to becoming a billionaire.
Billionaire. What is a billionaire? If you are into business, especially online business then you have probably dreamed about being able to think big and be financially free. But do you know what is the best academic degree to take, if you want to become a billionaire?
Engineering
Coming in at the top is engineering – which might surprise you, but the scope of engineering is huge and widening all of the time. 22% of the world’s top 100 billionaires studied some kind of engineering.
Mexican entrepreneur Carlos Slim, who is worth around $52 billion, studied Civil Engineering.
Larry Page, co-founder and CEO of Google, has a Bachelor’s in Computer Engineering and a Master’s in Computer Science – and is currently worth $40.7 billion.
Then there is, of course, a certain Jeff Bezos, founder and CEO of Amazon, who has a Bachelor’s in Electrical Engineering and Computer Science from Princeton University – and is worth today a staggering $178 billion.
And it would seem that most engineers agree. A study from 2014 showed that 56% of engineers believe they will become millionaires at some point, while 69% say their role is “recession-proof”, meaning that they are some of the most secure kinds in the long term that you are likely to find.
This makes Engineering one of the best degrees to study to get rich.
If Engineering is the path forward for you, why not consider exploring high-paid Engineering jobs in Canada?
Top universities for Engineering: The University of Liverpool, The University of Birmingham, Victoria University of Wellington.
Politics
Politics is one of the oldest professions in the world, stemming right back to the birth of democracy in Ancient Greece. Today however, it can be one of the most prosperous degree choices. The rise of political strategists across the world has also led to their demand, making this a desirable career path.
Former politics graduates include Former President of the United States and millionaire Barak Obama, who graduated from Columbia University with a BA in Political Science in 1983.
Other millionaire politics graduates include journalists, British former Leader of the Opposition Ed Miliband, and former British Prime Minister David Cameron.
Former politicians have gone on to secure lucrative book and TV deals, as well as future careers in public speaking.
Politics is therefore one of the professions that makes the most millionaires, both while working and after leaving the political ring.
Top universities for Politics: Trinity College Dublin, The University of Regina, The University of Exeter.
Computer Science
This is a sector that has been booming for a decade now. The rise of technology, social media, algorithms and just about everything else computer-based has created a demand that far outweighs the supply.
But luckily for those of you graduating with a computer science degree, this means that you can often walk into a high paid job from the get-go. This makes it one of the degrees that makes the most millionaires.
The average starting salary for graduates in computer science degrees is roughly $61,000, which is second only to engineering graduates.
That is incredibly high for a first job, and things can really take off from there. Software developers at Google or Facebook can make up to $120,000 a year. Explore our article about the highest paying computer science jobs to find out more!
But where the money really lies within computer science is through the development of your own software and apps.
The top 200 apps in the world today generate on average $82,500 daily – yes I said that right, daily. If you have a Computer Science degree, and a great idea – the world can be your oyster.
Top universities for Computer Science: Coventry University, The University of Bath, The University of Waikato.
MBA
A little different to the others on our list. A Master’s in Business Administration, which will typically take 1-2 years has the potential to super-charge your salary – and the beauty is that it can be incorporated into almost any field.
In the U.S, the average increase, in salary before an MBA to after is a huge 50%, while those working in architecture, customer support or medicine saw increases of above 80%.
The downside of this is that it needs to be done on top of another degree, which takes time and can add plenty of cost to your higher education. But the evidence is clear here, the short term extra work can have a huge impact on the rest of your career.
If you think an MBA is your next step, explore eight of our favourite universities with great MBA courses.
Top universities for MBA: The University of Bristol, The University of Greenwich, The University of Brighton.
ECONOMICS
Many of the millionaires in this study, majored in economics. This degree probably helps them make better investment and business decisions.
Studying economics helps you see the puzzle of business and economics and how to fit the pieces together within the intricacies of a global economy.
Sheryl Sandberg is the COO of Facebook, and her net worth is estimated at $1.17 billion.
Elon Musk has been at the heart of many important businesses. He is a co-founder of PayPal and Tesla Motors and SpaceX, works as the chairperson of SolarCity.
If that doesn’t keep him busy enough, he also produced Iron Man 2. His net worth is $13 billion.
Zhang Xin is the co-founder and CEO of SOHO China, the largest real estate developer in Beijing. She is worth $3 billion.
PRE-LAW/LAW
Lawyers are number four on the list of majors. When you consider what it means to be a lawyer, it overlays with what it takes to be a millionaire.
Lawyers learn the art of negotiation and critical thinking skills. They put in long hours and are deadline driven. These skills serve them well in making sound business and financial decisions.
Jerry Springer earned his law degree and ended up entering politics for a short time, including serving on Robert Kennedy’s presidential campaign.
He landed a radio show in the 1980’s and now the Jerry Springer Show. His net worth is $75 million.
Steve Young, a former NFL star, returned to school and earned his JD after retiring from football. His current net worth is $40 million.
Michelle Obama, First Lady of the United States, is a Harvard Law School graduate. Her net worth is $11.8 million.
Biochemistry
Driven to try to identify a cure for his twin brother’s cardiomyopathy – a degenerative disease that affects the heart muscle – actor Ashton Kutcher signed up for school at the University of Iowa in 1996 and hoped to major in biochemical engineering. Kutcher’s academic days were short-lived, however, and after coming out on top in a local modeling competition, he dropped out to kick-start a modeling career, strutting his stuff in New York, Paris and Milan. Soon afterwards, Kutcher turned to acting, and looking back, it was probably the correct decision. Biochemistry students who did manage to graduate include singer Milo Aukerman from punk band the Descendents – who holds a Ph.D. in the subject from the University of Wisconsin–Madison – and business executive Christine Poon. The former worldwide chairman of Johnson & Johnson’s Pharmaceuticals Group, Poon was compensated over $10 million in 2008 alone before stepping down from her position the following year.
Agribusiness/Agricultural Studies
In order to fulfill the demands of a rapidly growing population, the food industry will need to find ways to boost its productivity by some 70 percent over the next four decades; that’s according to a 2013 article from Britain’s The Guardian. Agriculture and agribusiness graduates are therefore in increasing demand to meet some of the challenges that this large step-up in output presents. Fortunately, there is also money to be made in the world of agriculture – as the reasonable number of millionaires the subject area produces perhaps suggests, going from WealthInsight’s Spear’s magazine’s data. In any case, even graduates in these or related subjects who don’t ultimately go into the field can still be well remunerated. Chevron CEO and chairman John S. Watson – who left the University of California, Davis with a bachelor’s in agricultural economics in 1978 – draws a salary of over $32 million.
Journalism
In a 2012 New York Times graphic entitled “The Top 1 Percent: What Jobs Do They Have?” it was said that 7,282 journalists in America are in that disproportionately wealthy category. Hence, despite journalism’s extremely competitive nature and saturated industry, there is evidently money to be made in the field. That’s not to say that alternative paths for journalism degree holders can’t also reap rewards, however. A noteworthy graduate who has chosen another vocation is actor and millionaire Denzel Washington, who completed his studies at Fordham University with a bachelor’s in drama and journalism in 1977. Another notable figure is Survivor: Micronesia winner Parvati Shallow, who majored in journalism, getting her degree from the University of Georgia in 2004. Shallow gained instant entry into the millionaires’ club after winning the reality TV show’s $1 million prize in 2008.
Conclusion
Have you ever asked yourself what degree can get you to be a billionaire? If you’re one of the many young adults looking for a good career, you may have dreamed of being the richest person in the world. But to reach that status, one has to obtain an excellent degree. So does an excellent degree alone lead to being the richest person in the world?