https://www.verdict.co.uk/worlds-top-millionaire-making-schools/
1.Harvard University, US
2.Stanford University, US
3.University of Pennsylvania, US
4.Columbia University, US
5.Oxford University, UK
6.Massachusetts Institute of Technology, US
7.New York University, US
8.Cambridge University, UK
9.Northwestern University, US
10.University of Chicago, US
11.University of Michigan, US
12.University of Texas, Austin, US
13.Cornell University, US
14.Yale University, US
15.University of California, Berkeley, US
16.Southern California University, US
17.Princeton University, US
18.University of California, Los Angeles, US
19.University of Virginia, US
20.University of London, LSE, UK
“Millionaire making” or children of pre-existing millionaire attending… both are factors.
@ThankYouforHelp beat me to it as I was just about to post the same comment.
interesting…I wonder if grad school graduates were included
Lots (almost all?) of the schools in this ranking are feeders for Wall Street: Harvard, Penn, Columbia, NYU, Northwestern, UChicago, MIT, Berkeley, …
What’s not mentioned in the article is that Wall Street jobs create beaucoup millionaires. STEM is often thought of as the fountainhead for well-compensated careers, but finance and banking are where pay can really skyrocket.
Is a millionaire a person who makes a million per year or who has a net asset of a million dollars?
Having been in tech and now in finance, I agree with this, but there is some nuance:
In tech, making real money means that you either start a wildly successful business or join one very early. I know tech founders that were on the Forbes 400, and where the first 50 employees all had mid 8-digit net worth, and hundreds more achieved 7 digit net-worth. But most startup companies fail and their employees get nothing more than salary despite working very hard for many years.
In contrast, a modestly successful finance person will get into the 1% quite easily, and the really successful finance people will join the Tech founders on the Forbes 400.
@hebegebe In some parts of Southern CA, that’s just one average house paid off. I guess I am a millionaire then, a member of College listed in number 13 on the list. Lol
Yes. It is not the major wealth threshold it used to be 40-50 years ago.
If anything, the number of millionaires is under-counted. In addition to people on the coasts that own reasonably nice homes free and clear, the uncounted millionaires include fireman, police officers, and in some case teachers, who have generous union negotiated pension benefits that have a net present value of $1M+.
Schools don’t make millionaires. That being said, the intelligence and drive that enables a student to attend one of these elite schools are the same requisites to do well financially. Moreover, the quality of the professional / alumni networks of these schools can also present opportunities not available at less competitive schools. It would also be instructive to delve into the professions of these millionaires, as finance and tech are probably predominate.