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"I have dealt with a number of recruiters, and I've been inundated with phone calls, emails, and voicemails from recruiters who are seemingly only interested in making a quick fee. My experience overall had not been great, until I spoke to George."

Chelsea Bate

What Makes a Billionaire? First Steps

The top 100 billionaires own over $2.3 trillion of the world’s wealth1 - 1.3% of total world personal wealth ($167 trillion)2.
We’re interested to know how the rich list actually got so wealthy – so we’ve conducted a study into their past.

We’ve looked into the richest 100 people in the world to discover if there’s any correlation between your first career move and how wealthy you become.

Who Did the Top 100 Start Working For?

How many on the Forbes top 100 rich list actually made it on their own?
From our research, 30/100 of the top billionaires inherited or worked for a family business, 17 started their own business, and 53 of them worked for another organisation.

First Career Paths - Entrepreneur, Family Owned Business, or Another Organisation?


 

With the majority of us not being in the position to inherit a billion-pound business, we’re particularly interested in the billionaires who started working in another organisation. 

Billionaires’ First Jobs

From our research, the first job which led to the most billionaires’ fortunes was a salesperson role.

10 of the 53 billionaires who started their career in an organisation which was not their own started in a sales position.
Narrowly behind this, there were 9 billionaires who started in a stock trader role.

First Roles of The Billionaires Working in 'Other Organisations'To work this out, we grouped the 53 who started working in another organisation into categories of job roles – the full results of our research can be seen below:

Job Role Count of Job Category
Salesman 10
Stock Trader 9
Software Developer 5
Engineer 5
Analyst (Varied) 4
Accountant / Financial Role 4
Retail Assistant 3
Marketing Role 2
Legal Assistant 2
Mechanic 2
Military 2
Construction Worker 2
Politician 1
Manufacturer 1
Translator 1

Are Billionaire’s More Likely to Be Degree Educated?

Does holding a degree mean you’re more likely to become a billionaire?
We were also interested in the education of the world’s richest - from our research, 75/100 were educated to degree level.

Percentage of Top 100 Billionaires With a Degree

There's a clear link between the world's richest and being a graduate, 3/4 of the billionaires in our study have earned a degree.

Degree Subjects of The World’s Richest

Of the 75/100 billionaires with a degree, 22 received honours in engineering. Studies in business closely followed, accounting for 16/77 degree educated billionaires.

Billionaire Degree Subjects

To work this out, we grouped the billionaires with university educations into degree subjects by type. Our full results can be seen below:

Degree Type Count of Degree Studied
Engineering 22
Business 16
Finance & Economics 11
Law 6
Computer Science 4
Art / History of Art 3
Philiosophy 2
Politics 2
English 2
History 2
Mathematics 2
Medicine 1
Physics 1
Psychology 1

Conclusions

Whilst a small sample size, we’ve looked into our results to see if there’s any trends we can draw from the data.

Our results suggest that those starting in a sales role are more likely to become a billionaire. It could be that people who are familiar with business deals at an early point in their career will take this forward to be successful in the million and billion-pound deals that come later on in their life. Certainly, this is true of the story of George Soros, the 29th richest person in the world, who started his career as a travelling salesman for a toy and gift wholesaler before making his fortune as a trader and broker3. The same could be said of Michael Dell, who started working as a cold call salesman for a newspaper before making his money as the founder of the computer hardware company Dell4.

When looking at the top 100 billionaires’ education, our results suggest that people with an engineering or business degree are more likely to hit it rich. There’s a clear trend between the people who studied an engineering subject and the richest 100 in the world. Many of the entrepreneurs who made their money in technology studied engineering, for example Jeff Bezos of Amazon5, or Larry Page of Google6

References

1) https://www.forbes.com/billionaires/list/

2) https://www.cnbc.com/2017/06/14/millionaires-own-a-record-45-percent-of-the-worlds-wealth--and-their-share-is-growing.html

3) https://en.wikipedia.org/wiki/George_Soros

4) https://en.wikipedia.org/wiki/Michael_Dell

5) https://en.wikipedia.org/wiki/Jeff_Bezos

6) https://en.wikipedia.org/wiki/Larry_Page

We welcome use of our data in other studies or articles. Please reference Aaron Wallis Sales Recruitment and www.aaronwallis.co.uk as the author of the study.

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Marketing Recruitment

Published: 18 September 2017

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Rob Scott - Aaron Wallis

by Rob Scott

Managing Director

About the author

Rob Scott

Rob is the Managing Director of Aaron Wallis Sales Recruitment, a national recruitment agency specialising in sourcing sales and marketing staff for businesses across a broad range of commercial sectors. Before setting up Aaron Wallis, Rob spent ten years at a specialist Sales and Marketing recruitment division of a £0.5BN recruitment group, leaving in 2007 as Marketing & Sales Director to establish Aaron Wallis.
 
With over 24 years of experience in sales recruitment, Rob is a History graduate with an MBA (Merit) and a PgCert in Management Practice.  In 2007, 2009 and 2013 Rob conducted the most extensive surveys of sales professionals in the UK and is a trusted authority in the sales industry. From guiding employers through the recruitment process to helping candidates find their dream job, Rob's advice has been quoted in leading publications such as Business Insider and The Independent, as well as OnRec, which host The Online Recruitment Awards every year.

Our employers say...

Since joining DSGi, Rob has been a supplier of permanent staff and has performed to an extremely high standard, successfully filling 98% of roles he has worked on. If anyone is looking for a good sales and marketing based consultancy with an informal yet professional approach, I would recommend Rob.

Senior Recruitment Consultant, DSG International

I really liked the YouTube presentations which made the service seem both simple and accessible. The company came to see me, and my management team, at short notice to present their service and I liked the support and advice that I received about maximising the results from the applicant.

Managing Director, Leisuresec plc

Aaron Wallis has continuously provided us with suitable candidates that have been proactively sourced. Having used countless recruitment companies, Aaron Wallis are the only company that I can count on to deliver.

Managing Director, JARK Healthcare Recruitment

Thank you for your dedicated help during the recruitment process - we came to you after unsuccessfully searching elsewhere, and hired, not one, but two! Quick response times, and a really personal approach, without being pushy.

Managing Director, Accora Ltd

I found Aaron Wallis to be very professional and efficient, taking time to understand the role and the type of candidate we were looking for. The candidates they put forward met our criteria and were of a high standard. The service they provided was exemplary and I would have no hesitation in recommending them, and will certainly consider using them again in the future.

HR Assistant, Fischer Connectors Ltd

Rob’s knowledge of the recruitment industry and his thoughts and how to make it better for his clients have always been eye opening. I would recommend Rob to anybody who is looking for a professional, knowledgeable and flexible recruitment specialist.

CEO, Friday Ad Online Services

Generally good standard of candidates. Especially liked the personality profile. Overall good value for money and will certainly use you again.

Managing Director, Medicash

Understood the type of person we were looking for and good follow ups - not too frequent.

Managing Director, bigHead Bonding Fasteners Ltd

Thanks for all your help during the recruitment process. I have been extremely impressed with Aaron Wallis especially when compared to other agencies we have dealt with. I really felt you grasped the type of person we required and found strong candidates.

UK Sales Manager, Nexcom

We were impressed not only by the quality of candidates you found for us but also the level of information, preparation and qualification you put into the process. You continually kept us informed of each person’s feelings about the process, which is very important but often overlooked. I am looking forward to working with your company again in the future.

Commercial Director, Incentive Facilities Management

I have used Aaron Wallis to fill a number of our Sales Development Manager roles and I have found them to provide a very professional service. I will use their services again in future recruitment campaigns.

HR Business Partner, Greene King

Really good service. Just the right amount of contact and easy to deal with.

HR Manager, Zircon Software Ltd

Giles is highly professional and was a pleasure to work with. He achieves excellent results through his personable skills and tenacity. I have no hesitation in recommending Giles to anyone who considers employing his services.

Commercial Director, G4S Government & Outsourcing Solutions

I just wanted to thank you for your help with our recruitment process which went very smoothly and has – we hope – found us just the person for the job!

Managing Director, Citrefine International Ltd

In an industry where people over promise and under deliver, Rob and his teams have consistently provided a high-quality service. It is great to deal with someone that has an excellent understanding of UK industry, and a passion for sales.

Sales Manager, TR Fasteners

As always we were extremely impressed with Rob's understanding of the role and our specific needs.

Managing Director, Speck & Burke

Giles Phillips is a rare find in the minefield of sales recruitment; an honest and thoughtful recruiter who considers the needs of both the client AND the candidate to create perfect role matches. I look forward to working with him again in the future.

Marketing Director, City of London Police

Rob is a true recruitment professional that goes the extra mile that I have never experienced from any other recruitment agency before. If you need sales people call Rob or someone in his team, as they really are experts in sales recruitment.

Sales Director, Inside Business

I could not suggest anything I would like you to do better. The service you provided materially exceeded my expectations. I would especially like to commend Simon Bonner; he is easily the best recruitment consultant I have ever dealt with. I particularly valued his advice and guidance throughout the recruitment process. 

UK Sales Manager, BTS Holdings Limited 

We appointed Aaron Wallis in February and the successful candidate, out of the six which Aaron Wallis introduced, was able to join Alphametrics before the end of April. The whole process took less than three months. I would recommend Aaron Wallis' services to others without hesitation.

Chief Financial Officer, Alphametrics

I have always found Rob to be very knowledgeable about our industry sector, and it is refreshing to see after all of these years that Rob continues to quickly and accurately understand my requirements.

HR and General Manager, THK

Our candidates say...

I've had a really good experience working with Giles Phillips at Aaron Wallis. From initial contact to the finer details of securing the job, he has been very professional and a pleasure to work with.

M. Shutt, Candidate

I would highly recommend Aaron Wallis Recruitment, Darren was extremely helpful and provided me with plenty of advice and support throughout the whole process.

D. Bretherton, Candidate

Very good advice and support was given during the course of the interviewing process. Potential job seekers would be well advised to use this company whilst looking for their new career.

R. Speakman, Candidate

The detail put into the preparation for interviews and the detail of the job description was first class. Rob and Simon in particular are amongst the best I've ever dealt with.

K. Peacock, Candidate

Aaron Wallis helped me secure a position I really wanted. Giles sought to keep me updated with all the details preceding interviews and after with feedback. I would highly recommend Giles and Aaron Wallis Sales Recruitment.

L. Taylor, Candidate

The Recruitment agent I used, Simon, was extremely helpful and really went the extra mile to ensure all of my questions were answered, and that I felt as comfortable and prepared as possible. Very professional company and would definitely recommend to others. Thank you Aaron Wallis!

A. Callaby, Candidate

Simon was knowledgeable on his clients history, background and what their requirements were and he worked around time zones, holidays and a pandemic to get the right result.

J. Tooze, Candidate

Friendly, proactive, communicative. Overall a really positive experience.

R. Houston, Candidate

Wanted to say a huge thank you to Simon Bonner who has just helped me secure my new role. He was one of the most professional recruiters I have ever worked with.

J. Marcinkiewicz, Candidate

Darren at Aaron Wallis was really encouraging and helpful. He was very responsive and regularly made phone calls to explain the job opportunities available, and guided me through the application process.

A. Brown, Candidate

Excellent service, very professional and friendly, would and have, recommended Aaron Wallis.

E. Heley, Candidate

A great recruitment company to work with. Excellent experience with Aaron Wallis through the entire recruitment process. The team was really professional and extremely helpful. Darren was a pleasure to work with. He was friendly, supportive and gave me great advice. Thank you very much!

A. Bauchet, Candidate

I have to say coming across and having dealings with Aaron Wallis proved to be very successful. Being highly experienced did not seem to count for much during my job search bit a conversation with Robert Scott gave me a real confidence boost and enabled to get a position at the age of 63. Great service!!!

D. Burgess, Candidate

Fantastic customer service, communication was brilliant, happy polite people to talk to, made everything a lot easier and smoother. Thank you for all your help getting me back in the work force, Keep up the good work :-)

K. Everitt, Candidate

Tom was a great help in finding me employment

N. Lignier, Candidate

The service provided by Aaron Wallis has been just great. I was constantly informed about what was going on with the process interview and the agent has always been supportive and kind to me.

L. Colagrossi, Candidate

I had a very good experience with Aaron Wallis. The company itself is offering great content for all things related to the hiring process. I definitely recommend.

J. Ostermeier, Candidate

Aaron Wallis Sales Recruitment are a very friendly and professional recruitment organisation who listen to your needs, work with you and act on your behalf which sets them apart from many of their competitors who in my experience are willing to throw anything at you. We discussed my history, my preferences and my wishes - one opportunity was introduced. It was perfect. I start at the end of June.

R. Buckley, Candidate

The staff at Aaron Wallis were fantastic. Throughout the process, they maintained excellent communication and I always knew where I stood.

M. Owusu, Candidate

When talking with Simon you felt relaxed cared to help you find a position that suited your needs

D. Pinder, Candidate

I had the absolute pleasure of working with George Humphries on finding a placement best suitable for me.

A. Van Der Mescht, Candidate

The most professional recruitment agency I've ever worked with. Robert Scott was extremely proactive and send me a detailed briefing before each interview, ensuring I was well prepared.

D. Bermant, Candidate

Less than two weeks after joining Aaron Wallis I was offered my new job. I got a £10,000 rise in my basic salary, car allowance, a laptop and many other perks, which will help to further my career. I definitely would not have found my dream job without the help of Aaron Wallis.

C. Hoy, Candidate

Sophie has been fantastic and always so attentive, highly recommend.

T. Ashbourne, Candidate

Fantastic service, helped me find my ideal job quickly and smoothly. Would highly recommend them.

C. Caine, Candidate

Rob was really helpful when I was putting together a presentation for the second stage interview. Overall their communication was great and kept me updated of any progress

J. McGrattan, Candidate

Good swift process with Aaron Wallis, informative regarding the role and the process was moved at a good pace with healthy interaction. Would recommend them to anyone pursuing a change.

S. Bartlett, Candidate

Aaron Wallis have provided me with an excellent service, Giles went out of his way to help me preparing for my interview and supported me through all the processes. If you need an agency to give you a fully professional and consultative approach to finding you a new career move, the Aaron Wallis can certainly provide this for you.

D. Richards, Candidate

Aaron Wallis (and in particular Rob Scott) have been fantastic throughout the recruitment process, and even a few months down the line, still continues to care. Rob clearly cares about each individual and has a wealth of knowledge and expertise, which shows in the work he does. Each candidate is not just a number, and the support received from Aaron Wallis has helped me get a career which I truly enjoy.

M. White, Candidate 

I can honestly say that the time and expertise you gave me was way beyond any other recruitment consultant I dealt with. You are a rarity in your industry.

S. Akers, Candidate

Aaron Wallis is an outstanding recruitment agency specialising in high calibre sales positions. I was working directly with Darren Dewrance who went above and beyond my expectations in sourcing me my perfect role. I was kept in regular communication with Darren and he worked extremely hard to secure my dream job. Highly recommended and Thanks Darren for all your expertise and hard work.

R. Sealy, Candidate

Really excellent experience dealing with Aaron Wallis. Liam Oakes who helped me get a great job was brilliant. Kept me up to date during the process and offered great help and advice, and a thoroughly nice guy. Highly recommended!

J. Hathaway, Candidate

George Humphries was a complete professional at every point, from our first phone conversation to his “good luck tomorrow” text on Sunday before I started in my new role.

E. Fry, Candidate

Excellent experience from first contact to ultimately securing a suitable placement. Giles looked after me in a very professional and friendly manner. He used his expertise and experience to ensure I was put forward for the most suitable positions for my skill set and found me a new role very quickly. I can't recommend Aaron Wallis Sales Recruitment highly enough.

M. Green, Candidate

Perfect from start to finish. Simon deserves a shout out. Best recruiter there is. If you need a job, this guy will get you one. He's like the super man of recruiters. Top man, can't recommend him enough.

M. Crisp, Candidate

I had a great experience. Helped me every step of the way to get my new job. Sophie was very polite, kind and helpful!

J. Parnham, Candidate

For anyone looking for work, I can't recommend Aaron Wallis highly enough.

C. Rockliffe, Candidate