Study suggest that Millionaires more likely to have gone to state school
October 12th, 2011 - 12:16 am ICT by Aishwarya BhattLondon, Oct 11 (THAINDIAN NEWS) British self-made millionaires more likely went to a state school than a private school, a new study claims. The research also found that for those who went on to the university level, most of them came through University of London than the other universities.
The study was carried out by the firm Skandia. The company, which is a branch of the British insurance firm Old Mutual, revealed that they spoke to about 549 millionaires during the study. Skandia said those who were considered for the study had net worth of at least £1 million.
The difference was huge. The researchers identified that, 72 percent of the respondents attended public school. Interestingly, more women have net worth of £3 million and over than men. That is significant considering that more men in the survey were considered millionaires than women – 60 percent men and 40 percent women.
More than half of the respondents were under the age of 50 years. The respondents admitted that they view the high taxes in the United Kingdom as the biggest threat to their wealth.
The United Kingdom has one of the highest tax rates in the world. Workers pay as much as 50 percent of their income in taxes.
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Tags: 1 million, british insurance, insurance, insurance firm, net worth, oct 11, private school, respondents, self made millionaires, tax rates, united kingdom, universities, university of london