Midas touch: University of Manchester fifth best in UK at producing millionaires and business tycoons

By Ric Sumner

Budding business tycoons looking to get their empires up and running should head to the University of Manchester, according to a new study.

The seat of learning has been named the fifth best university in the UK when it comes to producing millionaires and multi-millionaires.

The independent survey of 549 millionaires by financial experts Skandia found 3.5 per cent of the rich and super rich went to Manchester, with only London, Oxford, Cambridge and Leeds producing more people with a seven-figure sum to their name.

Manchester boasts architect Norman Foster, novelist Martin Amis and Radiohead guitarist Ed O’Brien among its notable alumni.

Successful business leaders to have emerged from its halls include former Tesco chief executive Sir Terry Leahy, Tom Bloxham, chairman of Urban Splash, Andrew Cosslett, chief executive of InterContinental Hotels Group, Ian Livingston, chief executive of BT and Dr Alan Wood, chairman of Siemens.

Jane Ratchford, director of the Manchester Leadership Programme, Careers and Employability Division, said: “The University of Manchester is a very stimulating environment for people with ambition. 

“There are opportunities to network with business representatives (we are the most targeted university by graduate recruiters), world-class academics, opportunities to develop leadership skills and make connections with equally ambitious students, for example through business-related student societies.

 “We have a huge and diverse student body and an enormous breadth of degree subjects. Enterprise and study abroad are heavily encouraged.  Our careers service and academics encourage students to set their ambitions high and to develop their employability from the moment they arrive in Manchester.

“Our mentoring scheme, Manchester Gold, pairs up hundreds of students with careers mentors, many of whom are successful alumni. We are situated in a dynamic city-region which offers students and graduates thousands of jobs and work experience opportunities.”

Skandia’s second annual Millionaire Monitor also reveals one in four millionaires studied at Oxford, Cambridge or one of London’s colleges. In total, 65 per cent of millionaires went to university, with a third obtaining a Masters, while 71 per cent had a state school education.

University College London topped the poll, producing 10.9 per cent of millionaires, with Oxford responsible for 7.8, Cambridge 5.5 and Leeds 3.9.

The top 10 was rounded out by Leeds, Manchester, St Andrews, Birmingham, Bristol, Edinburgh and Aston.

For more on this story and many others, follow Mancunian Matters on Twitter and Facebook.