I know, I know - it’s not all about the money. But getting a degree is about finding a good job, and part of a good job is about a good salary.
From traditional degrees like engineering and business to emerging fields like finance, find out how your educational choices can help you and what degrees make the most millionaires.
Key takeaways:
In this article, we’ll explore
- The different degrees that make the most millionaires
- The academic backgrounds and degrees of millionaires
- The universities where you can pursue these degrees
Want to know which degrees make the most millionaires? Read more!
Top 7 degrees that make the most millionaires
- Engineering
- Economics/Finance
- Politics
- Mathematics
- Computer Science
- Law
- MBA
1. Engineering
Coming in at the top is engineering. This might surprise you, but the scope of engineering is huge and widening!
KEY FACT: Engineering is the most common degree among billionaires. 22% of the world’s top 100 billionaires studied engineering. |
Ever thought about which engineering can make you a billionaire? Read about some degrees of the richest people in the world.
Mexican entrepreneur Carlos Slim, worth around $73.3 billion, studied Civil Engineering.
Larry Page, co-founder of Google, has a Bachelor’s in Computer Engineering and a Master’s in Computer Science - he is currently worth $125 billion.
Then there is, of course, Jeff Bezos, founder and CEO of Amazon. He has a Bachelor’s in Electrical Engineering and Computer Science from Princeton University - and is worth more than a staggering $200 billion.
And most engineers would 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”. This means they are some of the most secure kinds in the long term that you are likely to find.
This makes Engineering one of the degrees that make the most millionaires.
If Engineering is the path forward for you, why not consider exploring high-paid Engineering jobs in Canada?
Top universities for Engineering:
Various engineering jobs
| Job title | Annual salary (in USD) |
|---|---|
| AI and machine learning engineer | $166,250 |
| Petroleum engineer | $120,000 |
| Biomedical engineer | $89,979 |
| Civil engineer | $90,000 |
| Chemical engineer | $97,665 |
| Mechanical engineer | $97,505 |
| Aerospace engineer | $112,819 |
| Computer science engineer | $113,760 |
| Telecommunications engineer | $107,309 |
Data updated as of May 2024 | Source: talent.com
2. Economics/Finance
It’s no surprise to hear that studying Economics or Finance can help fast-track you towards being a millionaire.
But it’s not quite as easy as studying how to make your fortune, with economics in particular often seen as more theoretical and behind the scenes. Economics and finance are among the courses that make you rich.
It might not be a get-rich scheme, but a background in how the financial world works is invaluable in almost anything you do later in life. Then, of course, there are the actual jobs in finance.
KEY FACT: According to Business Insider, the highest-paying finance jobs on Wall Street can earn you over $20 million. Working in the banking sector can also bring in a handsome salary. |
It's not only the USA with excellent opportunities in this sector too - we've explored the ten best economics courses in the UK too.
These jobs often come with long hours and high stress, but the rewards can be eye-boggling.
Top universities for Economics and Finance:
- Thompson Rivers University
- Trinity College Dublin
Economics and Finance jobs
| Job role | Annual salary (in USD) |
|---|---|
| Data Analysts | $90,000 |
| Tax Accountants | $100,000 |
| Financial Analysts | $80,000 |
| Bank Managers | $100,000 |
| Investment Bankers | $85,000 |
Data updated as of May 2024
(The above salary ranges are approximate values taken from various sources.
Sources: LinkedIn and Google)
Also read: Top 10 career courses
3. Politics
Politics is one of the oldest professions in the world, stemming right back to the birth of democracy in Ancient Greece. Today, 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.
KEY FACT: Former politics graduates include Barack Obama - Former President of the United States and millionaire. He 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, and future careers in public speaking.
Politics is one of the professions that makes the most millionaires, both while working and after leaving the political ring.
Top universities for Politics:
4. Mathematics
The diversity of work that mathematics graduates can go into is a sure indicator of the potential of this degree.
Whether it's finance, engineering, the sciences or public service, there are plenty of fields for math students to end up in.
Math graduates form a significant proportion of the world's millionaires.
KEY FACT: Musician and millionaire Art Garfunkel graduated from Columbia University with a Master’s in Mathematics in 1967. |
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Top universities for Mathematics:
Top careers for maths graduates abroad
- Mathematics Professor
- Statistician
- Academic Researcher
- Financial Analyst
- Data Scientist
5. Computer Science
This is a sector that has been booming for a decade now. The rise of technology, social media, and algorithms has created a demand that outweighs the supply.
But luckily for those of you graduating with a computer science degree, you can often walk into a high-paying job from the get-go. This makes it one of the degrees that make the most millionaires.
KEY FACT: The average starting salary for graduates in computer science degrees is roughly $61,000. This is second only to engineering graduates. |
That is high for a first job, and things can 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 the money in computer science lies in developing your software and apps.
The top 200 apps in the world today generate on average $82,500 daily - yes, daily. If you have a Computer Science degree and a great idea - the world can be your oyster.
Also read: Most in-demand jobs in UK
Computer Science jobs
| Job role | Annual salary (in USD) |
|---|---|
| Software Engineer | $85,000 |
| Web Developer | $90,000 |
| Mobile App Developer | $80,000 |
| Systems Architect | $100,000 |
| AI Engineer | $100,000 |
Data updated as of May 2024
(The above salary ranges are approximate values taken from various sources.
Sources: LinkedIn and Google)
Top universities for Computer Science:
6. Law
Now for one of the more traditional courses.
Studying law can be a long, difficult process but has the potential to make you considerable amounts of money.
Find out what students wish they knew before starting their law degree to know what studying law is like.
But again, this is not a get-rich-quick scheme. The path of a successful lawyer is often one of long hours while moving up through a company.
The average mean salary of a lawyer in the UK for the first 5 years is between £30,000 and £54,000. But this climbs the more years you put in.
KEY FACT: Lawyers with over 15 years of experience can command salaries of £180,000 a year or more. |
The lucrative term, ‘Partner’ of a law firm tends to make you a millionaire and set you up for life.
Top universities for Law:
7. MBA
Different from the others on our list, a Master’s in Business Administration, will take 1-2 years, and has the potential to super-charge your salary. This can be incorporated into almost any field.
KEY FACT: In the U.S., the average increase in salary before an MBA to after is a huge 50%. People working in architecture, customer support or medicine, saw a rise above 80%. |
The downside is that it should be done on top of another degree. This takes time and can add plenty of cost to your higher education. But the evidence is clear here - short-term extra work can greatly impact the rest of your career.
What is the cost of doing an MBA degree abroad?
The cost of studying MBA abroad ranges from $50,000 - $80,000, depending on the university, program, and location.
If you think an MBA is your next step, explore eight of our favourite universities with great MBA courses.
Top universities for MBA:
Job opportunities after MBA
| Job role | Annual salary (in USD) |
|---|---|
| Business analyst | $90,000 |
| Data analyst | $100,000 |
| Business Consultant | $100,000 |
| Business Manager | $120,000 |
| Product Manager | $95,000 |
| Data Manager | $90,000 |
Data updated as of May 2024
(The above salary ranges are approximate values taken from various sources.
Sources: LinkedIn and Google)
Also read: Will studying abroad help my career?
Interested in studying abroad? Explore courses, and universities, and find your study destination!
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Frequently asked questions
What to study to become a billionaire?
You can study Engineering, Economics/Finance, Politics, Mathematics, Computer Science, Law, or MBA to enhance your financial strength, as these are some of the highest-paying degrees in the world.
Which engineering branch has the best career prospects?
Computer science engineering, AI and machine learning engineering, civil engineering, and biomedical engineering have better career prospects for international students.
Which MBA course has the highest salary?
Some of the highest-paying MBA specialisations are:
- Finance
- Business Analytics
- Marketing
- Human Resources
- International Business
- Entrepreneurship
- Operations Management
- Logistics and Supply Chain Management
- Banking And Insurance Management
- Healthcare Management
What are the job opportunities after MBA?
Some of the highest-paying jobs after an MBA are Management Consultants, Finance Managers, Business Consultants, Business Analysts, Marketing Managers, Human Resources Managers, Business Consultants, and Product Managers.
What are the best computer courses?
Here are the top 5 computer courses in demand.
- Big data engineering
- Cyber security
- Data science and analytics
- Web development
- Software engineering and programming
