who makes more money a dcotor or lawyer

Full Answer

Why do some lawyers make more money than others?

Other factors, including specialties, make a difference, too, with some types of doctors earning hundreds of thousands of dollars more than others, and the same is true for different types of lawyers. But one thing is certain; when you have to go to one or the other, they both take a lot out of y_our_ paycheck.

Do doctors make more than lawyers?

Certainly every lawyer or doctor is probably in a unique situation where the pay scale can vary. It is true as well that different medical and legal fields can have their own unique averages. However, on average, the data shows that doctors make more than lawyers. To the surprise of some, the reality is that the discrepancy is not even close.

Which fields of law make the most money?

The fields of law that make the most money can vary depending on whether you are self-employed or working for a firm; in big law or at a smaller firm; in-house; public or private sector; etc. Commercial or residential real estate attorneys have different requirements.

How much does a lawyer make a year?

Lawyers, according to the BLS, had an annual median salary of $118,160 in 2016, a significant difference between them of $89,840. The difference alone is more than twice the average salary in the U.S., which was $37,040 in 2016.

Is it better to be a doctor or lawyer?

According to the BLS, medical doctors which include both medical doctors (MDs) and doctors of osteopathic medicine (DOs) earned an annual median salary of $208,000 per year in 2016. Lawyers, according to the BLS, had an annual median salary of $118,160 in 2016, a significant difference between them of $89,840.

Who is smarter doctor or lawyer?

A recent analysis (via KevinMD) of average IQs of individuals in certain professions revealed that doctors have a mean IQ of almost 10 points higher than lawyers.

Is law school or med school harder?

In short, medical school is hands-on and requires a lot of memorization. Law school requires analytical work and critical thinking. Law school requires heavy reading and writing while medical school requires learning about problems through clinical studies and hands-on training.

Which degree is harder law or medicine?

it's definately a lot easier to get on a law degree than medicine. medicine is also a much longer degree and requires a more dedication (although to do well in law you obviously need to be really hardworking too).

Is law school an easy choice?

Others might not be scientifically minded at all, but they enjoy the law, and so law school is an easy choice. But for some individuals, they might have an affinity for both. They might reasonably have the ability to be a good doctor or a good lawyer.

Is student loan debt a problem for law school graduates?

They might not have looked at the data on average salaries before making this decision. Student loan debt is also another significant issue for law school graduates.

Does JD Supra use automatic decision making?

Please note that JD Supra does not use "automatic decision making" or "profiling" as those terms are defined in the GDPR.

Does Medical Doctor earn more than a Lawyer?

Yes, Doctors do earn more than Lawyers. The median wage of a Doctor is $208,000 compared to a Lawyer $126,930 per annum.

Does Medical Doctor earn more than an Accountant?

Yes, Doctors do earn more than Accountant. The median wage of a Doctor is $208,000 compared to an Accountant $73,560 per annum

Does a Lawyer earn more than an Accountant?

Yes, Lawyers do earn more than Accountants. The median wage of a Lawyer is $126,930 compared to Accountant $73,560 per annum.

Final Thoughts

While statistically, Doctors earn more than Lawyers and Accountants, that doesn’t mean that’s the median wage you can expect to earn through your whole career.

Salaries for Doctors

As a general rule, doctors earn the highest salaries in the country. Anesthesiologists are the top earners with an annual mean wage of $232,800, while surgeons are in second place with $230,540. Obstetricians and gynecologists make $216,760, while oral and maxillofacial surgeons are the highest paid dental surgeons at $216,440.

Salaries for Engineers

At $147,470, petroleum engineers are the highest paid engineers, ranking 16th out of the top twenty highest salaries. However, they are the only engineers in the top twenty. Nuclear engineers are a distant second with $107,140, while aerospace engineers are the third highest engineering specialists, earning $104,810 annually.

Salaries for Lawyers

Lawyers barely made the list of the top twenty salaries in the country. At $130,880, they were in 19th place. They are paid less than most doctors, but more than all of the engineers – except petroleum engineers.

Educational Requirements

The educational requirement for doctors is a medical degree and three to eight years of residencies and internships, depending on the specialty area. Lawyers must complete three years of law school to earn a Juris Doctor (J.D.). Engineers need a bachelor’s degree in their specialty area.

Job Outlook

The BLS projects a 24-percent increase in demand for physicians and surgeons through 2020, which is faster than the 14-percent average growth rate predicted for other U.S. occupations. However, the demand for lawyers is only projected to increase by 10 percent through 2020. The job outlook for engineers varies by specialty.

Technologists vs. Lawyers vs. Doctors: Who Earns More?

You can earn a lot of money as a technologist, especially if you specialize in a highly sought-after skill set such as machine learning or artificial intelligence (A.I.). But even with skills and experience, how does a technologist’s salary match up against that of a lawyer, doctor, or even someone in finance?

Compensation over 10 years in banking, medicine, technology, consulting and law

Want more great insights? Create a Dice profile today to receive the weekly Dice Advisor newsletter, packed with everything you need to boost your career in tech. Register now

Why do IP lawyers make so much money?

One of the reasons IP lawyers make so much is due to the fact that it can be difficult to sort out IP facts and prove the case evidentially.

How much do corporate lawyers make?

At the low end of the salary scales, some corporate lawyers make less than some schoolteachers–$66,000. The more successful corporate lawyers can earn well into six figures, though.

How much do tax attorneys make?

Tax attorneys make $80,000 on the low side and $105,000 on the high scale, with most practitioners making nearly $100K. This type of attorney represents a company that deals with federal, state, or even local taxing bodies.

What are the skills needed to be a successful trial attorney?

They need to stay current with new, potentially precedent-setting cases. Their verbal, writing, and memory skills should also be top-notch. Personality also plays a huge role in trial attorneys’ compensation. The best trial attorneys are confident, persuasive courtroom performers who are nimble on their feet.

What does an IP lawyer do?

IP lawyers usually deal with patents that protect inventors’ rights and keep copycat competitors at bay during the time period the patent is valid. The stringent patent application process can be challenging even for experienced IP attorneys, so competition for the best, most experienced IP lawyers is high.

How much does a lawyer make in 2021?

According to the Bureau of Labor Statistics (BLS), the average lawyer’s salary is $144,230.

Do trial lawyers make a living?

Some are barely surviving while others are swimming in cash. However, there’s no doubt that a lawyer with a penchant for the courtroom can earn a decent living.

What Kind of Lawyer Makes the Most Money?

What type of lawyer makes the most money? The median salary for different specialties differs. Some of the highest-paid types of lawyers and most lucrative specialties include the following.

What Factors Influence the Salaries of Attorneys?

Many factors affect how much lawyers earn; however, the salary range for lawyers varies widely. As of 2019, the average lawyer earned $126,930 annually, according to the U.S. Bureau of Labor Statistics.

Conclusions

There’s a large difference in average salaries between different practice areas, especially about halfway down the list. The highest-paid lawyers make considerably more on average than the lowest-paid ones. As an example, medical lawyers earn more than average salaries, while family-law attorneys earn a salary that falls below the average.