People make their money in a variety of ways, but there are a few markers that can indicate if someone is taking the right steps to becoming a millionaire. It may be as simple as going to a certain college.
According to
Henley & Partners, a London-based consultant, a third of the country’s centi-millionaires come from only eight colleges in the United States. By the way, a centi-millionaire is defined as an individual who has amassed $100 million or more in wealth.
They are a mix of Ivy League colleges and the best non-Ivy League schools in the country, reports
Business Insider. Attending one of these schools may just put you on the path to being one of the wealthiest people in America.
8 Top Colleges that Produce Centi-Millionaires
8. Princeton University
Located in Princeton, New Jersey, Princeton University is home to less than 3,000 students. Annual tuition is $43,450. Some of its most notable (and wealthy) alumni include Jeff Bezos and Michelle Obama.
7. Cornell University
Part of the exclusive Ivy League colleges, Cornell is located in Ithaca, New York, near the Finger Lakes. Tuition is $49,500 and about 80% of students receive some type of financial aid, according to
The Princeton Review. Sandy Weill, former Citigroup CEO, and David Dufield, a software entrepreneur, are some of Cornell’s wealthiest graduates.
6. Yale University
One of the oldest colleges in the U.S., Yale University is in New Haven, Connecticut. Annual tuition is $61,067 and the average undergraduate need-based aid package is $59,150. Wealthy alumni include members of the Mars Candy family as well as actress, Meryl Streep.
5. Columbia University
New York City’s Ivy League school, Columbia University, boasts notable alumni, like Barack Obama, Alicia Keys, and Robert Kraft, owner of the New England Patriots. Tuition at Columbia is $56,829 and the average undergraduate aid package is $55,691.
4. University of Pennsylvania
Located in Philadelphia, the University of Pennsylvania is comprised of just under 10,000 undergraduates. The average undergraduate financial aid package is $53,570 and tuition is set at $61,710. Notable alumni include Elon Musk, John Legend, and Tory Burch.
3. Stanford University
Though not technically an Ivy League, Stanford is considered one of the best universities in the country – if not the world. Students flock to California to attend this standout school. Annual tuition is $76,924 and the average undergraduate aid package is $61,412, states
The Princeton Review. Some of its most famous – and wealthy – alumni are Peter Thiel, Reese Witherspoon, and Tiger Woods.
2. Massachusetts Institute of Technology
Also one of the best non-Ivy League schools in the country, the Massachusetts Institute of Technology is more commonly referred to as MIT. Tuition at MIT is $79,850, while the average undergraduate financial aid package stands at $57,499, according to
The Princeton Review. Notable alumni are the Koch brothers and the founder of Dropbox, Drew Houston.
1. Harvard University
Finally, it may not come as a surprise that Harvard tops the list as the most centi-millionaire-producing institution. Some of it’s wealthiest alumni include Nathan Blecharczyk, founder and CSO of AirBnb, Natalie Portman, and Matt Damon.
College Majors that Can Make You a Millionaire
Just like a college can change the trajectory of your wealth, so can a college major.
Edvoy reports that the following majors product the most millionaires:
Engineering
This major covers a variety of roles across multiple fields. Essentially, we need engineers for just about everything these days.
Find engineering scholarships.
Economics/Finance
Money still makes the world go around. That’s why you can’t go wrong with a college major in economics or finance.
Find economics and finance scholarships.
Politics
The average politician shouldn’t expect to make a lot of money from their job. However, politicians that elevate themselves beyond their office with book deals and speaking tours can expect to break the mold.
Find political science scholarships.
Mathematics
Math puts the “M” in STEM, and math majors are needed now more than ever. Plus, it pays to be a mathematician – literally.
Find mathematics scholarships.
Computer Science
Given how plugged in our society is, it’s no wonder that computer scientists are in demand – and employers are willing to pay. Careers in computer science are expected to grow more than any other field in the next 10 years.
Find computer science scholarships.
Law
There are many roles within the field of law; however, most millionaire law majors are likely lawyers. This particular field requires more than just a Bachelor’s degree, but any students interested should consider the continuing education as an investment in their future earnings.
Find law scholarships.
Making Major Decisions for Your Future Salary
While you shouldn’t make any life decisions based on money alone, it doesn’t hurt to factor into your decision-making process. If you are curious about salaries for your specific college major, there is a way to “predict your future.”
Monster provides a salary tool that enables students to view potential salaries by career and location. Doing research on your future career and college major enables you to make an educated choice when it comes to choosing a major.
