One in five university graduates becomes a millionaire

alx

alx

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One person in five who receives university education becomes a millionaire, according to official figures.

Twenty per cent of all adults who hold at least one university degree — more than two million people — now have wealth totalling at least £1 million, data from the Office for National Statistics show.

Almost a tenth of all British adults now own assets — property, pensions, savings and physical objects — worth £1 million or more.

The total number of millionaires in Britain has risen by 50 per cent in four years despite the recent financial crisis. The figures showed a stark gap in wealth between people with different levels of education. Only three per cent of people with no formal educational qualifications have assets worth more than £1 million.

http://www.telegraph.co.uk/educatio...university-graduates-become-millionaires.html

Thought this was quite an interesting statistic (seems university does pay on the surface), I personally thought it wouldn't be this high but it's not something that had really crossed my mind.

Will be interesting to see if this trend continues, or whether the push to have large numbers of school leavers going to university will reverse it in the coming years.
 
The ONS don't always get it right, I've seen market research from top consultancy firms which says something to the contrary about graduate earnings.
 
The ONS don't always get it right, I've seen market research from top consultancy firms which says something to the contrary about graduate earnings.

It's not so much salary as net worth, I'm not sure how far back the statistics go in this study (seems to suggest all adults), but a lot of adults who graduated 20-30 years ago and bought property will have accumulated a lot of wealth that way.
 
In the South East you're probably looking at a pretty normal middle class family for £1m in assets, once you factor in a house and pension of of someone 45-55. Whilst you're obviously not poor and struggling at that level, it's probably by no means the type of rich that you might think of when you hear the word "millionaire".
 
"The figures, which do not account for household debts such as mortgages"

Meaning the whole article is pointless...also no mention of inheritance.
 
Most of the people I grew up with went to University.

I don't know one that's a become a millionaire.

I certainly don't know any that went to mine. Perhaps my University was just crap.

So which University paid for this survey again?
 
It's not so much salary as net worth, I'm not sure how far back the statistics go in this study (seems to suggest all adults), but a lot of adults who graduated 20-30 years ago and bought property will have accumulated a lot of wealth that way.

Indeed, perhaps people who go to uni are more likely to be from a wealthy background?
 
Most of the people I grew up with went to University.

I don't know one that's a become a millionaire.

I certainly don't know any that went to mine. Perhaps my University was just crap.

So which University paid for this survey again?

Conversely some of the people I grew up with and who went to university are very much millionaires.
 
How many started off regardless of university with inheritance or family wealth that would have naturally seen them become millionaires anyway.

I can see myself becoming a paper millionaire only because I live in the south east and have a couple if properties. Doesn't mean I can afford a Bentley.
 
It's not so much salary as net worth, I'm not sure how far back the statistics go in this study (seems to suggest all adults), but a lot of adults who graduated 20-30 years ago and bought property will have accumulated a lot of wealth that way.

True, I suppose a lot of graduates will have amassed a million in assets by the time they retire if you take into account their house, pension, savings, belongings etc.

But then I don't believe that to be correlated to education per se, prior to everyone and their mum doing a degree it would have been roughly the same proportion hitting upper management or having business holdings as well as a job in say middle management.

But we didn't just magic up all these jobs when graduates became a big thing - realistically these jobs always existed.

More a reflection of the job market and the expectation of employers rather than the successes of the education system.
 
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Enough that over a lifetime you could get assets to make you a millionaire.

I think it's important with any statistics to understand exactly what the measure shows and more importantly what it doesn't show.

While I might just fit that category and my 2 children are attending university, I get the impression that many of their university friends' parents are not as financially "comfortable" as I am.

I don't think going to university is a "middle class thing" anymore.
 
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