Students looking to excel financially should set their sights on studying engineering at university, according to new research.
The study revealed that 22% of the world’s wealthiest people have studied engineering at university, with a degree in the subject twice as likely to help someone to become a billionaire as one in business education.
Approved Index – a business-to-business buying platform – analysed the educational background of billionaires by examining Forbes’ list of the richest 100 people in the world.
Studying business helped 12% to amass their fortune, whilst 9% studied an arts subject – surprisingly a higher number than those that specialised in business-orientated topics, such as finance and economics.
With just 4% having studied science and maths at university, the results of the research point towards a need for greater focus on ensuring students know the value of STEM subjects (science, technology, engineering and maths).
Value of studying STEM subjects
Girls who take just one A-level focused on a STEM subject have the potential to earn an additional £4,500 each year, according to research from Sutton Trust.
The focus on STEM subjects could see a change in the stereotype of billionaires in the future. The number of students taking chemistry at A-level has risen, as has those taking physics, biology and maths.
Engineering graduates are also the richest of their peers within the list, with a combined wealth of $25.8bn (c. £17.8 billion), compared to a net worth of $24bn (c. £16.6 billion) for billionaires without a degree and $22.5bn (c. £15.5 billion) for those who studied finance.
The findings point towards the need for variety when it comes to studying subjects at university while highlighting the effect on future earning potential.
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