World's top 100 universities for producing millionaires

Universities in the UK produce the second highest number of millionaires in the world after the US, according to a new league table from Spear’s magazine and WealthInsight

November 4, 2013

Compare these rankings to the Times Higher Education World University Rankings 2013-2014

Both the universities of Oxford and Cambridge make the top ten of the list, compiled by data research company WealthInsight and business magazine Spear’s, with 42 UK universities including Manchester, Newcastle, Liverpool and Bradford making it into the top 500.

Engineering degrees produce the most millionaires, the research finds, while MBAs, law, accounting, and finance also lead to financial success. To compile the list, WealthInsight went through a database of 70,000 dollar millionaires in more than 200 countries.

“You would expect to see a high number of scientific or financial degrees in the top 10, like engineering, commerce and accounting,” said WealthInsight analyst Oliver Williams. “But, interestingly, few of these degrees turn out to be outright vocational; most engineering graduates, for example, are not engineers but entrepreneurs. The same goes for most law and politics graduates, who owe their fortunes not to practising their professions but climbing the ranks of the financial services sector.”

The other UK universities making the top 500 are: the London School of Economics (LSE) (), the University of London (45), London Business School (63), Imperial College (68), Bristol University (102), University College London (114), Edinburgh University (115), Leeds University (148), Southampton University (150), the University of Manchester (152), Newcastle University (168), Durham University (173), Birmingham University (215), Nottingham University ( 217), Liverpool University (238), Glasgow University (267), Lancaster University (296), Sheffield University (299), University of Bradford (460).

World’s top 100 universities for producing millionaires

1Harvard University (USA)
2Harvard Business School (USA)
3Stanford University (USA)
4University of California (USA)
5Columbia University (USA)
6University of Oxford (UK)
7Massachusetts Institute of Technology (MIT) (USA)
8New York University (NYU) (USA)
9University of Cambridge (UK)
10University of Pennsylvania (USA)
11Cornell University (USA)
12University of Michigan (USA)
13Yale University (USA)
14University of Chicago (USA)
15INSEAD (France)
16Tel Aviv University (Israel)
17University of Texas (USA)
18Sciences Po (Institut d’études politiques de Paris) (France)
19University of Southern California (USA)
20École Polytechnique (France)
21Northwestern University (USA)
22Princeton University (USA)
23HEC Paris (France)
24Bocconi University (Italy)
25University of Pennsylvania - The Wharton School (USA)
26University of Illinois (USA)
London School of Economics (LSE) (UK)
28University of Virginia (USA)
29University of Wisconsin (USA)
30Duke University (USA)
31University of California, Berkeley (USA)
32Paris-Sorbonne University (France)
33University of New South Wales (Australia)
34California State University (USA)
35Georgetown University (USA)
36Paris Dauphine University (France)
37University of Toronto (Canada)
38Washington University (USA)
39Dartmouth College (USA)
40McGill University (Canada
41Boston University (USA)
42Hebrew University of Jerusalem (Israel)
43Purdue University (USA)
44Sydney University (Australia)
45University of London (UK)
46Melbourne University (Australia)
47Stockholm School of Economics (Sweden)
48Ohio State University (USA)
49University of Florida (USA)
50University of Missouri (USA)
51George Washington University (USA)
52University of Minnesota (USA)
53Miami University (USA)
54Michigan State University (USA)
55University of British Columbia (Canada)
56University of Witwatersrand (South Africa)
57University of Colorado (USA)
58Indiana University, Bloomington (USA)
59University of Notre Dame (USA)
60Queen’s University (Canada)
61Rutgers University (USA)
62Brown University (USA)
63London Business School (UK)
64Copenhagen Business School (Denmark)
65Ecole Nationale d’Administration (France)
66Essec Business School Paris (France)
67Stanford Business School (USA)
68Imperial College (UK)
69Carnegie Mellon University (USA)
70University of North Carolina (USA)
71Southern Methodist University (USA)
72Columbia Business School (USA)
73Monash University (Australia)
74Technion - Israel Institute of Technology (Israel)
75Texas A&M University (USA)
76Vanderbilt University (USA)
77Boston College (USA)
78University of Western Ontario (Canada)
79University of Cape Town (South Africa)
80Georgia Institute of Technology (USA)
81Moscow State University (Russia)
82University of Maryland (USA)
83University of Houston (USA)
84University of Kansas (USA)
85Louisiana State University (USA)
86Tulane University (USA)
87University of Queensland (Australia)
88Delhi University (India)
89Stockholm University (Sweden)
90La Sapienza University of Rome (Italy)
91State University of New York (USA)
92Tufts University (USA)
93University of Arizona (USA)
94Fordham University (USA)
95University of Western Australia (Australia)
96National University of Singapore (Singapore)
97Northeastern University (USA)
98MIT Sloan School of Management (USA)
99Brigham Young University (USA)
100University of Massachusetts (USA)

Top 10 most popular degrees for millionaires

5(Bachelor’s) Business administration  (BBA)
8Computer science

Top 10 universities most attended by millionaires

1Harvard University
2Stanford University
3University of California
4Columbia University
5University of Oxford
6Massachusetts Institute of Technology (MIT)
7New York University (NYU)
8University of Cambridge
9University of Pennsylvania
10Cornell University

Top countries with universities in the top 500


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Reader's comments (12)

Thanks for this very interesting ranking, but what do you mean by "University of Paris" ? Paris 1 Panthéon-Sorbonne ? Paris 2 Panthéon Assas ? Paris 3 Sorbonne Nouvelle ? Paris 4 Paris-Sorbonne ? Paris 5 Paris Descartes ?... etc There are 13 universities in Paris in fact. Which one is "University of Paris for you" ?

Hi Edouard. Thanks for this. This isn't a Times Higher Ranking, as the article specifies. I have contacted the publishers, and they inform me it relates to institutions that fall under Paris-Sorbonne University.

Where could we read the Top 500 Ranking?

You should get in touch with Spear's magazine, or WealthInsight. Hope that helps!

This ranking is interesting, but lacks important information to be truly informative. It does not account for the students who had money and / or connections before they even went to school, especially the Ivy League ones. I would like to know how this ranking takes the drop-outs who went on to become Millionaires or Billionaires like Bill Gates and Mark Zuckerberg into account. Is Harvard taking credit on them for becoming wealthy? Also, what about the athletes’ students who became professionals and then millionaires? Can we really say the schools had anything to do with that? Correlation isn't necessarily causation.

I would very much appreciate if the ranking would be made up according to the contributions alumni have made with their professional skills to society and the wellbeing of our global community, rather than on personal gain. The times of "me, myself and I" need to be over if we want humanity of have a future.

Could you explain how Indiana University of Pennsylvania went from #50 to being eliminated from the list?

Hi Patricia. The original data that we were sent by Spear's and WealthInsight - the organisations that produced this table (it is not a THE ranking) - contained errors. These errors have been corrected, and the table above is now accurate.

Unfortunately this ranking does not take into account purchasing power differences and uses only nominal salary. Australian uni's are ranking higher because nominally they are paid more, in part because of a 50% tax rate. Another factor likely affecting the rankings is the energy and mining boom, which would further bias Australia and Texas upwards. A truck driver in Western Australia makes $250,000 per year to start, but a Big Mac costs $12. This boom is on the downtrend; let's see where these uni's rank in 5 years...

What a great ranking? Although it is interesting to read that the worth of the ivory tower is now quantified by monetary factor as against the significant transformation in terms of development that the society ought to have benefitted from such education gained from those listed institutions. Are the environment in which those listed institutions are situated befitting of the ranking allotted them?

I just wanted to comment in the utter nonsense re: Australia. Yes Australian GDP per capita is quite high but it is about par with the USA and slightly higher than Western Europe. Furthermore a big mac costs 4.95 and not 12 bucks and a truck driver even in a far flung mining town absolutely does not start on 250k, you moron!!!!

The data seems to be at odds with the US Census Bureau's 2010 American Community Survey. Googling "What the top 1% majored in" should lead you to a NYT blog post on that, along with the relevant dataset.

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