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Which Australian Universities Produce the most Millionaires?

November 7, 2013


Universities have been ranked in countless ways over the years: by reputation, subject area, and even by social media use. The newest rankings of the world’s universities have rated institutions according to the number of millionaire graduates they have produced.


The survey conducted by Spear’s Magazine and WealthInsight listed the world’s top 100 millionaire making institutions. The list of the world’s top ten is similar to the results of other global tertiary rankings:


1. Harvard University (USA)

2. Harvard Business School (USA)

3. Stanford University (USA)

4. University of California (USA)

5. Columbia University (USA)

6. University of Oxford (UK)

7. Massachusetts Institute of Technology (USA)

8. New York University (USA)

9. University of Cambridge (UK)

10. University of Pennsylvania (USA)


Although the rankings were dominated by American and UK institutions, six Australian universities made the cut, led by the University of New South Wales in 33rd position:


33. University of New South Wales (Australia)

44. Sydney University (Australia)

46. Melbourne University (Australia)

73. Monash University (Australia)

87. University of Queensland (Australia)

95. University of Western Australia (Australia)


But what are the best degrees to study if you want to make millions? Engineering was the most common qualification among millionaires, followed by an MBA, economics and law. Law graduates who went on to make their fortune were often not practicing, and instead became entrepreneurs or worked in the financial services sector.


“Entrepreneurs, who ultimately end up being the wealthiest in the world, are innovators, and the top subjects are those which encourage new and smart thinking, whether technical or financial”, explained Spear’s editor Josh Spero.


According to the rankings, around one precent of the world's millionaires did not study at university or were university dropouts.



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