How to become rich: Choose the right occupation

According to this research paper, these are the career fields of Americans in the top 1% of the income distribution (as of 2005):

• 31% are non-financial executives, managers, or supervisors
• 16% are medical professionals
• 14% are financial professionals, including management
• 8.4% are lawyers
• 4.6% are in technical fields (computers, math, engineering, etc.)
• 4.2% are in skilled sales, excluding real estate and finance
• 3.8% are in blue collar or miscellaneous services
• 3.2% are in real estate
• 3.0% are in non-finance business operations
• 1.8% are professors or scientists
• 1.6% are in arts, media, or sports

So much for the myth from late night infomercial pitchmen that real estate is the path to wealth! The top 1% are ten times more likely to be managers.

The career fields of the super wealthy—the top 0.1%—are similar, but slightly different:

• 43% are non-financial executives, managers, or supervisors
• 18% are financial professionals, including management
• 7.3% are lawyers
• 5.9% are medical professionals
• 3.7% are in real estate
• 3.0% are in arts, media, or sports
• 2.9% are in non-finance business operations
• 2.9% are in technical fields (computers, math, or engineering)
• 2.3% are in skilled sales, excluding real estate and finance

Judging by this list, and what I've posted previously, for enterprising high school or college students who would like a successful career but don't know what they want to study, a finance, accounting, economics, engineering, math, or computer science bachelor's degree followed by a dual MBA/JD would give you a fantastic head start in life. ...But above all else, get that MBA!