What College Degrees Do Millionaires Have 2022, 80 of millionaires 90 billionaires and 95 of fortune 500 CEOs have a college degree this is probably the opposite of what all the gurus on youtube tell you but the truth is for the average person getting a college degree is worth it and in this post, we are going to break down which college degrees are more likely to make you a millionaire and which ones aren’t.
now i already did a post very similar to this where I talked about very specific college degrees top 10 college degrees that are most likely to make you a millionaire but in this post i’m going to be breaking down all the different types of college degrees and we’re going to go a little bit more in depth.
we are going to break this down into all of the different types of college degrees and we’re going to start from the type of degree that creates the least amount of millionaires to the type of degree that creates the most and,
there are basically nine different types of college degrees so we’re gonna break them down it’s you know social science degrees art degrees math degrees etc and coming in at dead last on the list is going to be art degrees, unfortunately, art degrees only showed up once on the list of the top 30 degrees and,
that was at number 29 and this was actually a bunch of different art degrees that were bunched together and it still only came in at number 29 on the list so this is something that you see over and over again throughout history unfortunately artists a lot of the time they’re dead broke throughout their entire life and,
then after they die like a hundred years after they die that’s when their paintings become extremely valuable now has gotten a little bit better in the modern age you know obviously you have musicians for instance that make a lot of money but a lot of the time there are record labels that take a significant amount of their money and,
also, control them as well now with that being said this isn’t about art, in general, this is about art degrees specifically and also i have a ton of respect for artists i think they’re amazing i have quite a few friends who are artists and i really appreciate what they do and what they contribute to the world,
but with that being said it is in my opinion that 99.9 of the time it’s not going to be worth it for you to get an art-related degree unless you are somebody who is truly talented like you’re a world-class pianist and you get an offer to attend Juilliard school of music or something along those lines,
then that would be an exception but for the average person who’s just passionate about art like playing an instrument or painting or something along those lines it’s not going to be worth it for you to go to college a much better use of your time and money would just simply be moving to a city where there’s a lot of other artists and then learning from them and,
also when it comes to art it’s really just about practice practice practice so if you want to get really good at painting for instance you need to just make probably like a painting every single day and after you spend thousands of hours doing that you’re gonna get really good nice and,
another thing to mention here when it comes to making money from art is usually you’re not going to be able to get a job where art is your job like doing art as a job unfortunately there’s just not that much demand out there on the job market.
so what you have to do is get a little bit creative with it so for instance you can start a youtube website you pretty much have to be very entrepreneurial if you are an artist and like i said in my opinion 99 of the time getting an art degree is not going to help you.
Social Science Liberal Arts Degrees
all right so next on the list number eight is going to be social science liberal arts degrees all right so this one did a little bit better than art you’ve got economics for instance at number three you’ve got political science at number 10 and history came in at number 15.
now when it comes to the numbers when you look at the averages here unfortunately the pay usually isn’t very good and of course i’ve broken down the numbers in so many different posts on the website.
so you can just check out other posts on my website if you want to see those but usually there’s not much demand when it comes to social science and liberal arts degrees and on top of that the few jobs out there that are available aren’t going to be very well paying but,
with that being said i think one of the strengths of liberal arts degrees is they teach you what are known as soft skills these are going to be things like debating critical thinking formulating an argument communication and,
when you think about these things you might not be able to directly get a job or directly make money after learning these types of skills because they’re not hardskills right they’re not employable skills however they might indirectly help you make money and on top of that they probably enrich your life as well and you do see a lot of people who graduate with liberal arts or social science degrees go into
number seven on the list which is law so law did come in at number seven on the list you’d go into law to become a lawyer get your jd and this is a doctoral level professional degree so what i’ll say about this one is it’s great for a certain type of person,
so if you are an extremely a-type competitive entrepreneurial person who doesn’t mind working 80 hours a week for basically the first 10 years of your career at least then this might be a good option for you this is one of those feast or famine type degrees it’s high risk but,
also high reward you know if you go into this degree hoping that you’re going to have a really good life balance and still make a ton of money unfortunately that’s probably not going to happen the people who make a ton of money in law are those who are at the very top they work for the best law firms they go to the best law schools etc however this can still be a good option for the right type of person.
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next on the list number six is going to be math degrees now this one came in at number 12 for mathematics number 14 for physics but it goes beyond just the math degrees themselves a lot of the top ones on this list like engineering for instance have a ton of math in them,
so even though math does kind of rank low on this list you have to take into consideration that the skill of mathematics is extremely valuable and that’s why you find it in so many other degrees now when you look at these statistics for math usually the types of jobs that you would go into are going to be relatively high paying a lot of the time,
they aren’t going to have much to do with pure mathematics though so you might go into finance for instance you might go into computer programming and that’s just because of the fact that math is a little bit impractical especially the theoretical part of it it is really valuable not that many people can do it but,
unfortunately there aren’t many jobs out there for people to do like theoretical mathematics problems you do have to figure out how to use your mathematics knowledge in a practical way so it might be a little bit difficult for you to get your first job right after college but once you get some experience under your belt it’s gonna be pretty easy after that.
next one on the list number five is going to be science degrees and this one’s gonna come in pretty heavy in the middle so for instance physics you could you know label that as a science degree or a math degree that one comes in at
number 14 chemistry comes in at 18 biology comes in at 19. geology comes in at 22. so you see quite a few science degrees that are kind of in the middle range now remember this data is from like the last 40 years or so so i do think that science degrees were probably a little bit better than math degrees in the past,
but in my opinion this has now flipped right so i think math is actually lower on the list as in like better on the list now than it was 40 years ago and science is going to be a little bit higher or worse on the list than it was at that time with a lot of science degrees for instance biology is a perfect example people think that they can get a job after going to four years and getting a bachelor’s,
and unfortunately they find out that most of the time they’re not going to be able to get a job and if they are able to get it it’s a super basic entry-level job and it’s nothing like they thought they would be doing so if you know you’re in for the long haul you know that you’re okay with getting a master’s or a doctorate science degrees can be a great choice but you do have to realize what you’re getting yourself into.
next on the list number four is going to be health-related degrees now i looked into the methodology on this list and unfortunately they kind of grouped health-related degrees in withthe science-related degrees but there was one that showed up at
number 13 which was medicine and of course there’s a ton of different types of medicine-related degrees like becoming a doctor everybody knows that doctors make a lot of money but there are other good health related degrees out there as well you’ve got physician assistant nurse practitioner nursing etc.
and not only can you make a ton of money with health related degrees but i also think you have a really good work life balance and another thing that’s great about health degrees is it’s very obvious what you’re going to do so for instance if you get a nursing degree you’re going to become a nurse,
if you get a pharmacy degree you’re going to become a pharmacist whereas with a lot of the degrees on this list unfortunately if you get a mathematics degree for instance you’re probably not going to become a mathematician so it’s not as straightforward and you have to get a little more creative with it and,
that means you have to do more research and look further ahead health degrees on the other hand are very straightforward and another great thing about them is you can get into careers at pretty much every level it’s not just bachelors or,
masters or doctorate you can get into careers at like a one to two year level so kind of an associates level that are really good and get into careers at kind of a three to four year level like nurse for instance that are also very good at the six-year level you’ve got pa nurse practitioner that’s really great and,
then of course at the eight-year level you can become an md and there’s other options out there as well so pretty much at every single level you have really good options when it comes to health degrees but when it comes to purely making the most money there are some especially on this list of data that was taken in the last 40 years or so that are better so.
next on the list number three is going to be technology degrees now everybody knows how much i like computer science and that one did come in at number eight on the list however in my opinion again this is a relatively new major,
so computer science wasn’t really a thing until about 30 years ago or so and so for that reason i think it’s not a fair thing to kind of compare them to degrees that have been around forever i can almost promise you that computer science is much higher than number eight on the list at this point and,
there’s other really good technology degrees out there as well like information technology management there’s also a ton of kind of two-year technology degrees that are pretty good if you don’t want to go for the full four years.
so this one is great it’s relatively future proof big fan of technology degrees they did come in number three on the list but maybe 10 years from now 20 years from now they might be number one number two on the list is going to be engineering degrees in general,
now on this list with the methodology for some reason they decided to bunch all of the engineering degrees together and so engineering did come in as number one however i think it probably would have been better to separate all of the different engineering related degrees like chemical engineering electrical engineering mechanical engineering etc.
but with that being said we’re going to work with the data that we have and engineering degrees are great um they’ve been good for many many years they’ve been good for like 40 years very high paying a very good chance you’re going to get a job some of them are better than others and of course i’ve broken that down in other posts,
extensively and even if you don’t end up becoming an engineer you’ll likely end up being very highly paid in different industries again i’ve broken that down extensively as well engineering degrees are very flexible on top of that engineers do tend to become either high level executives or entrepreneurs and, it makes sense because when you think about it engineering at its core is just practical problem solving.
that’s the same thing that entrepreneurship is however there was one type of degree that beat out engineering and that is business-related degrees,
so business related degrees came in at number two with mba number five bachelors of business administration number six commerce number seven accounting number nine finance number eleven management number 16 marketing i mean they literally made up like half of the top 15. yeah they do make up half if you count economics as a business degree but,
if you don’t count that they made up over half of the top 11. and this makes a lot of sense to me because not only do they prepare you for certain careers that tend to be high paying and give you a lot of opportunity but they’re also very flexible,
and then on top of that they make a great segue into opening your own business someday but even if you don’t open your own business even if you just decide to become an employee you’re also more likely to learn things about investing for instance and investing and saving at an early age is going to be key to becoming a millionaire,
so yeah engineering and business were very close there but in terms of just the sheer volume of different degrees that create a ton of millionaires business did edge engineering out i think it would be interesting to kind of compare the different subtypes of engineering to the different subtypes of business though,