- The University of Melbourne, followed by the ANU and the University of Sydney are the best at producing wealthy people, according to research by New World Wealth.
- Studying business, economics and finance gives the best chance of becoming a high net worth individual.
- And getting into finance and professional service industries are good bets for opening a path to wealth.
Australia is a world beater when it comes to creating wealth.
On a global scale Australians are better off than most when measured by per head in US dollar terms, according to analysis by consultancy New World Wealth.
The average person has net assets of $US279,000, making Australia the fifth wealthiest country in the world on a per capita basis, behind Monaco, Liechtenstein, Luxembourg and Switzerland.
However, if we exclude those with the advantage of being a major financial centre and a tax haven — Monaco at $2,087,400, Liechtenstein $761,100, Luxembourg $368,000, Switzerland $354,000 — Australian is number one for individual wealth.
And over the next ten years many more Australians will join the ranks of high net worth individuals (HNWIs), those with net assets of $US1 million ($A1.36 million) or more.
Australia is forecast to have more than 650,000 HNWIs by 2027, up from 377,000, says New World Wealth.
The latest research by consultancy New World Wealth also looked at the types of degrees and universities which helped make these high net worth Australians so successful.
The University of Melbourne, the ANU and the University of Sydney head the list of universities producing graduates who become high net worth individuals.
The successful ones tend to study business, economics and finance and after university they head into jobs in finance or professional services.
The most common degrees and certifications held by Australian HNWIs:
The top universities for producing Australian HNWIs:
And here are the main industries in which acquire their wealth:
Business Insider Emails & Alerts
Site highlights each day to your inbox.