One in five university graduates becomes a millionaire

alx

alx

alx

Soldato
Joined
10 Aug 2003
Posts
6,073
Location
Dubai, UAE
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.
Click to expand...

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.
 
pitchfork said:
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.
Click to expand...

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.
 
pitchfork said:
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.
Click to expand...

Good point, although the interesting statistic is that only 3% of people with no formal qualifications are millionaires in this study (compared with 20% for graduates). As you say though the job market has changed so that a lot more roles have a degree as a prerequisite, regardless of whether it's actually required to do the job or not.
 
Efour said:
so how many non degree people go onto being millionaires?

I didnt read the article i hope it has more useful info than the blatently obvious when you factor in some of these things..

£500k house isnt hard... thats half way there. could have gotten plenty of those back in the good old days with an education and a higher paying job and mum and dads good guidance and connections.
Click to expand...

3% of people with no formal education go on to be millionaires (is in the article).
 
Hikari Kisugi said:
Precisely, if I've been given a mortgage for £1M, and the property is worth £1M, I do not have assets worth £1M, the bank does, until I pay it off.

Rubbish article is rubbish.
Click to expand...

That's not what the article is saying. They take into account the deposit on the property but ignore the debt, D.P. explained it above.
 
You must log in or register to reply here.
Back
Top Bottom