Average GPA of Millionaires – Know My Plan – Financial Advisors (2024)

FAQs

Average GPA of Millionaires – Know My Plan – Financial Advisors? ›

According to the book “The Millionaire Mind,” the average college GPA of a millionaire was 2.9.

Why do Millionaires have an Average GPA of 2.9?

By those standards, the five jobs with the most millionaires are engineer, accountant, teacher, people in management, and lawyer. Doctor is sixth. They make a lot of money, but also spend a lot.

They are not mistaken; this is true: more than 50% of the CEOs of companies from the Fortune 500 list graduated from university with an average C score of three, and the GPA score of American millionaires is 2.9 / B.

Summa cum laude: “With highest honor,” typically 3.9–4.0 GPA or top 1-5% of class.

The unweighted scale is most common, and the highest possible GPA on this scale is a 4.0. The unweighted scale doesn't take the difficulty of a student's classes into account. Weighted scales are also used at many high schools. Typically, they go up to a 5.0.

Ninety percent of all millionaires become so through owning real estate. More money has been made in real estate than in all industrial investments combined. The wise young man or wage earner of today invests his money in real estate.

Ninety-three percent of millionaires said they got their wealth because they worked hard, not because they had big salaries. Only 31% averaged $100,000 a year over the course of their career, and one-third never made six figures in any single working year of their career.

What college do most millionaires go to? ›

Harvard also ranks first in the number of ultra-high net worth alumni with assets greater than $30 million. Harvard's total number of ultra-high net worth alumni is more than twice that of the next highest ranking institution, Stanford University.

The MBA topped the list, taken by 12% or around one in eight of all millionaires.

It found that 88% of millionaires graduated from college, compared to 38% of the general population. In addition, 52% of millionaires had a master's or doctoral degree, compared to 13% of the general population. This isn't the only research to find a strong link between wealth and level of education.

According to the book “The Millionaire Mind,” the average college GPA of a millionaire was 2.9. They found no statistical correlation between economic productivity and academic performance. “Smarter” people tend to take less risk.

If your GPA isn't exceptional, you can likely omit it from your resume. To make an impact on a hiring manager, a GPA should be at least 3.5 or higher.

Once you're in college, many institutions expect you to maintain at least a 2.0 to remain enrolled. However, programs and scholarships tend to require a higher minimum GPA, usually around 3.0. As you get ready to graduate, a particularly high GPA (3.75 or higher) may mean that you graduate with distinction.

The commonly used 0-4 scale (also known as an unweighted scale) caps the highest score at 4.0, but weighted scales like the 0-4.5 or 0-5 scale make higher GPAs possible. Typically, high schools that use weighted GPAs opt for the 0-5 scale that makes 5.0 the highest possible grade.

Myth #4 – Millionaires have degrees from prestigious universities. While it's true 88% of millionaires hold a bachelor's degree, 62% of them obtained their degrees from public state universities — and one out of 10 millionaires never obtained a college degree.

Here is a list of typical academic honors … Cum laude: Top 20-30% of students or a GPA of 3.5-3.7 (you if you are in the top 33% but your school uses 20% for that honor, you could miss out. Magna cum laude: Top 10-15% of students or a GPA of 3.8 to 3.9. Summa cum laude: Top 1-5% of students or a GPA of 4.0+

A 3.7 GPA is considered to be a very good GPA and is often an indicator of strong academic performance.