St Andrews among top ten universities to produce millionaires in UK

St Andrews has its fair share of starving students, but apparently they could have a very bright (and lucrative) future.

A recent study released by the firm Skandia has revealed that St Andrews is in the top ten universities in Britain to produce millionaires. The study utilized data from 1,503 different respondents with net disposable assets of at least £1 million, including well-known names like Dire Straits front-man Mark Knopfler and crime novelist Ian Rankin.

The study found that St. Andrews produced 3.5% of millionaires from its sample, tying with the University of Manchester – no easy feat considering Manchester boasts a student body eight times larger than St Andrews’.

The stand-out leader was the University of London, which accounts for 10.9% of millionaires – no surprise considering the student body comprises 120,000 students.

Since the poll included all types of students in its consideration, the rankings do change significantly when a distinction is made between private and state school alumnus. Excluding private school students, the Universities of Glasgow and Edinburgh find themselves in more favourable positions, while St. Andrews drops out of the top ten completely, slipping into 11th place.

“Having a private school education seems to have been influential in gaining a place at the Oxbridge universities according to this research, with almost half of the millionaires who gained a degree from Oxford and Cambridge having attended private schools,” explains Skandia UK’s head of investment strategy, Graham Bentley.

“However, what’s really interesting is the overall number who have gained places at top universities from the state school system and gone on to have successful careers that have enabled them to earn a fortune.

“With so much focus on the cost of getting a degree, it’s worth noting that having a degree can be a valuable tool in achieving financial success.”

 

1 – University of London (10.9%)

2 – University of Oxford (7.8%)

3 – University of Cambridge (5.5%)

4 – University of Leeds (3.9%)

5 – University of Manchester (3.5 %)

5 – St Andrews (3.5%)

7 – University of Birmingham (2.7%)

8 – University of Bristol (2.3%)

9 – University of Edinburgh (2.3%)

10 – Aston University (2 %)

 

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