Want to be a millionaire? Here's what you should study

Want to be a millionaire? Here's what you should study

The world's millionaires, or high net worth individuals (HNWIs), most commonly hold masters degrees, according to a new study by Spear's magazine and consultancy firm WealthInsight.

Those holding Masters of Business Administration (MBA) degrees were represented by just over 12 per cent of those surveyed. Engineering degrees came in second at 10.7 per cent. Economics, business studies and law also made the top five.

Vocational subjects dominated the top of the ranking, with degrees in more traditional schoolroom subjects such as chemistry, history and biology each being held by less than one per cent of those considered.

Oliver Williams, head of WealthInsight, said in the research's press release that, "Numerical degrees are a particular advantage when it comes to amassing a personal fortune."

Williams added that "with the exception of the MBA and Business Studies, few of these degrees materialize as outright vocational pursuits. Most engineering graduates, for example, are not engineers but entrepreneurs."

WealthInsight maintains a database of over 100,000 HNWIs globally, used as a tool for research and analysis.

A HNWI is defined as an individual with net assets in excess of US $1 million (S$1.3 million), excluding primary residences.

The ranking's top ten is as follows:

1. MBA - 12.1%

2. Engineering - 10.7%

3. Economics - 8.2%

4. Business studies/BBA - 5.9%

5. Law - 4.7%

6. Accountancy - 2.9%

7. Finance - 2.1%

8. Management - 2.0%

9. Commerce - 1.9%

10. Computer science - 1.9%

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