It is always said that having a degree makes millionaires. Those who leave education will end up nowhere. Although it depends on your struggle and luck, some college degrees are most likely to make you a millionaire. Here we will discuss some of them:
11. Law
There is no doubt that law is a challenging discipline. The decision to pursue a law degree is a big one. You’re going to have to spend years studying, and the job market for new graduates is usually pretty poor. That makes it hard to know if you’re making the right choice or not.
But before you make any plans about your future as a lawyer, you should consider some of the benefits of having a law degree. Some definite upsides might make those years of study worth it in the long run, whether you plan on being a lawyer or not. It takes law school graduates to break through to become millionaires can be up to 15 years.
The likes of Sumner Redstone and oil baron Richard Kinder are law school graduates who made it to the world of millions and billions. Law graduates earn about $60k per year on average as a starting salary. It eventually climbs to almost $184,958 per year for lawyers.
10. Commerce
A degree in commerce yields many millionaires since it’s a fundamental pillar of the global economy. There are numerous notable graduates in marketing, such as BlackBerry co-founder Jim Balsillie, who graduated from the school with a bachelor’s degree. Mr Balsillie has accumulated a net worth of around $800 million since graduating from this school in 1984. Ernest Rady, a finance, property, and investment tycoon who graduated from the University of Manitoba with a degree in commerce, ranked 365th on Forbes’ 2006 World’s Richest People list. Despite the widespread belief that cold, hard cash is the end of the world, it isn’t. From $55k to $119k is the typical salary after commerce. This averages out at $81,297.
9. Politics
Millions of dollars usually do not flow into the coffers of politicians. The large amount of money that these politicians earn comes from investments they make within the financial sector. The median salary for Political Scientists in 2019 was $122,220, according to the Bureau of Labor Statistics.
8. Architecture
There is a wide variety of jobs available in this field. Buildings, lots, and repurposing existing structures are part of what architects learn in architecture degrees. If you go for a portion of the degree, you learn more about landscaping.
There is a great deal of change and growth in the world right now. The importance of architecture will never diminish when it comes to humans because it is an integral part of what we do in life. Every human being needs a house to live in.
Our world culture and identity are very much influenced by architecture. Thus, it would make perfect sense that it would be a brilliant and wise degree choice. On average, architects earned $80,750
7. Computer Science
It doesn’t appear that computer science and IT will slow down anytime soon. This sector and the software engineering field also affect, for example, medicine, science, social media, business, and many more similar areas.
Computer hardware, well-programmed algorithms, and well-tested software are at the heart of how the internet works. Various social media also rely on technology. The demand for computer scientists is growing faster than they are graduating, so it won’t get out of style anytime soon.
Graduates of computer science colleges will always find jobs after graduation. A new class of tech workers will be prepared for them by college and boot camps to teach them new disciplines. A CS graduate can expect to earn an average starting salary of $70,000 when they graduate. A CS graduate can expect to earn an average annual salary of $110,140.
6. Mathematics
Mathematics underpins a lot of society’s systems and structures, and its application is as wide as it is diverse. Having proficiency in this language can be a definite advantage in a wide range of fields and disciplines, which may explain why many millionaires are born in this subject. It’s perhaps surprising that Art Garfunkel, the musician and millionaire, holds a master’s in mathematics from Columbia University. In the mathematics field, the median salary is $110,860
5. Accounting
An accounting background is like that of finance. It facilitates successful individuals to make intelligent investments within the financial sector and intelligent business decisions. It is common for accountants to earn an average salary of $119,000 per year
4. Psychology
Understanding human behaviour, motivations, emotions, and thinking patterns is a prerequisite for a psychology degree. A version of these skills is part of the degree requirements of a psychology degree. The degree will enable you to read people better and to interact with them effectively in the future. The average salary for psychologists is $167,000
3. Medicine
As an individual who holds a medical degree, you will have the capability of analyzing a wide range of information. Through learning how to interview and examine patients, you will be able to become a physician. Furthermore, you will learn how the human body works, how it responds to stress, and how to deal with problems in a healthy way. There are many physicians who earn a salary somewhere in the range of $150,000 to $312,000 per year.
2. MBA (Master of Business Administration)
Suppose you’re in the economics, business, finance, or some other social degree program. Then getting a master’s degree in business administration may be one of the best choices for you. The length of the Master’s depends on the previous degree you received and the institution.
The truth is an MBA degree is much more appreciated and valued by employers than any other Master’s degree available in the market. The average starting salaries for MBA graduates are $135,000 per year.
1. Chemical Engineering
In 1984, Cindy Crawford studied chemical engineering at Northwestern University, earning her Bachelor of Science degree. A scholarship winner after one term, Crawford dropped out to pursue a career behind the lens that turned out to be stratospheric. Gore-Tex inventor Robert “Bob” Gore was one notable chemical engineer to complete his studies. With an expected net worth of $850 million, Gore is considered the wealthiest individual in Delaware. He received a PhD in chemical engineering from the University of Minnesota in 1963. Chemical engineers earned a median annual income of $108,540
To Wrap Things Up!
To make you a millionaire, you don’t need to go through college. Many people have become millionaires without a college degree, and still, others who did not even finish high school have become millionaires. While it may be enticing to get into a lucrative career right out of school, consider getting a college degree in an area that will provide you with a strong foundation for success. You will have a better chance at generating wealth and being happy!