What percentage of millionaires don t have a college degree?
Asked by: Ernie Prohaska | Last update: September 18, 2025Score: 4.2/5 (52 votes)
However, don't be fooled into thinking this is the norm or the pathway to success for everyone. Here's an interesting statistic: more than 80% of millionaires worldwide are college graduates, according to a 2019 report. What this tells us is that
What do 90% of millionaires have in common?
It has become especially popular because it can potentially be a gateway to millionaire status. The famed wealthy entrepreneur Andrew Carnegie famously said more than a century ago, “Ninety percent of all millionaires become so through owning real estate.
Can you be a millionaire without a college degree?
The answer is yes! While it may not be the most common path to becoming a millionaire, there are plenty of examples of people who have made it without a college degree. Some of the most popular jobs that can make you a millionaire are in the fields of business, real estate, and investing.
What level of education do most millionaires have?
Eighty-eight percent of millionaires graduated from college, compared to 38% of the general population.
Is it true that 90% of millionaires make over $100,000 a year?
Understanding Millionaires and Income
The statement that 90% of millionaires make over $100,000 a year is likely False. Many millionaires generate significant wealth not solely through high salaries, but through investments and other income-generating assets.
How to Be a Millionaire on a Low Salary
What are the top 3 careers reported among millionaires?
- Engineer. Median Salary: $91,010.
- Accountant (CPA) Median Salary: $77,250.
- Teacher. Median Salary: $61,030.
- Management. Median Salary: $107,360.
- Attorney.
Is 100k a year considered wealthy?
Middle class is defined as income that is two-thirds to double the national median income, or $47,189 and $141,568. By that definition, $100,000 is considered middle class. Keep in mind that those figures are for the nation. Each state has a different range of numbers to be considered middle class.
What profession produces the most millionaires?
- Engineering. Engineering has long been a top field for producing millionaires. ...
- Business Administration and Finance. ...
- Economics. ...
- Computer Science and Information Technology. ...
- Law. ...
- Medicine.
What percentage of billionaires do not have a college degree?
A review of the education and work histories of the top 400 billionaires shows little correlation between education and success. Nearly 30% of billionaires do not have a college degree, greatly exceeding any other educational background.
Do rich people have higher IQs?
A recent Swedish study showed that cognitive test scores of the top 1 per cent of earners were not significantly different to the scores obtained by those who earned slightly less.
Does Elon Musk have a college degree?
At the age of 18 he immigrated to Canada, acquiring its citizenship through his Canadian-born mother, Maye. Two years later, he matriculated at Queen's University in Canada. Musk later transferred to the University of Pennsylvania and received bachelor's degrees in economics and physics.
What is the least stressful job without a degree?
- Courier. ...
- Security guard. ...
- Farmworker. ...
- Floral designer. ...
- Shipping and receiving clerk. ...
- Housekeeper. ...
- Mason. ...
- Cook.
Who is the richest person without education?
- 16 millionaires (and billionaires) who never graduated college.
- Bill Gates. Bill Gates is a billionaire entrepreneur and philanthropist, but he's most known for his role as the co-founder of Microsoft. ...
- Mark Zuckerberg. ...
- Michael Dell. ...
- Zhou Qunfei. ...
- Steve Jobs. ...
- Richard Branson. ...
- Evan Williams.
Which degree has the most millionaires?
- #6: Law/Pre-Law. Photo: Maskot (Getty Images) ...
- #5: Computer Science. Photo: Cravetiger (Getty Images) ...
- #4: Mathematics. Photo: Hill Street Studios (Getty Images) ...
- #3: Politics. ...
- #2: Economics/Finance. ...
- #1: Engineering.
What is a millionaire's best friend?
Here's a little secret: Compound growth, also called compound interest, is a millionaire's best friend. It's the money your money makes. Seriously.
What %of Americans are millionaires?
So, just how many millionaires are out there? According to the Federal Reserve's 2022 survey, approximately 18% of U.S. households had at least seven figures net worth.
How rare is being successful without college?
Many successful people don't have degrees
You don't need a Bachelor's degree to be successful. In fact, some of the successful p rofessionals and entrepreneurs of the last 50 years don't have a college degree, including: Bill Gates - Microsoft founder.
Do most millionaires drive expensive cars?
Most millionaires don't drive fancy cars—and that might surprise you. The truth is, most millionaires live simple, disciplined lives. They don't waste money on luxury cars or big mansions. Instead, they follow a proven plan, avoid debt, and let their wealth grow over time.
Who is a millionaire that didn't go to college?
Estimated net worth: $170.3 billion
After dropping out of two different colleges, Larry Ellison moved to Berkeley, Calif., where he picked up basic computer skills at various jobs.
How do 90% of millionaires make their money?
Ninety percent of all millionaires become so through owning real estate. More money has been made in real estate than in all industrial investments combined.
What is the highest paying easy job?
- Truck driver. National average salary: $96,200 per year Primary duties: Truck drivers can have several responsibilities, though they mostly transport goods from one location to another. ...
- Sales representative. ...
- Dispatcher. ...
- Customer service representative. ...
- Chauffeur. ...
- Claims adjuster. ...
- Roofer. ...
- Groundskeeper.
What skill makes the most millionaires?
- Product and Service Innovation. ...
- Organizing. ...
- Goal-Setting and Planning. ...
- Money Management. ...
- Philanthropy. ...
- Networking. Building relationships is instrumental in the world of business. ...
- Leadership. Every millionaire is a leader. ...
- Time Management.
How rare is a 100k salary?
A $100,000 salary is considered good in most parts of the country, and can cover typical expenses, pay down debt, build savings, and allow for entertainment and hobbies. According to the U.S. Census, only 15.3% of American households make more than $100,000 annually.
What salary is middle class?
The Pew Research Center defines the middle class as households that earn between two-thirds and double the median U.S. household income, which was $80,610 in 2023, according to the U.S. Census Bureau. 22 Using Pew's yardstick, middle income is made up of people who make between $43,350 and $130,000.
How much house can I afford on a 350k salary?
One rule of thumb is to aim for a home that costs about two-and-a-half times your gross annual salary. If you have significant credit card debt or other financial obligations like alimony or even an expensive hobby, then you may need to set your sights lower.