Originally Posted by Talk2meg00se
1st year lawyers start 160k, albeit only at the "big" firms (and those jobs are becoming increasingly more difficult to get). The road to partnership at these firms is typically ~7-9 years - during the latter phase of this period, senior associate will be close to 300k if not over. If they make partner, the salary increases significantly after that. Some of the "heavy hitters" at the mega firms will make professional athlete type money.
The problem, of course, is that no one is making partner anymore and layoffs are becoming the norm. Big law goes as corporate American goes.
My dad is both a practicing physican and a professor of medicine, and yet he did everything within his power to talk me out of the profession. I really enjoy the practice of law (the critical thinking, the writing, etc.), but career stability is a huge concern for me. Tomorrow, some law firm administrator could wake up in a city far, far away and decide that my salary is no longer justifiable and poof, just like that, my career is over. My dad, however, has his patients - and no one can ever take them away from him. His patient base is also a great bargaining chip when it comes to dealing with the hospital managers. I think that the stability aspect of medicine is something that he tends to take for granted as he has had it for the duration of his career. Where he has never felt the fear of potentially losing his job, why would he recognize this element? I think that this tends to be overlooked by most MDs, especially during these uncertain times.
Whatever, I know 9/10 law grads are not going out making 160k. Its like saying yes doctors are making 600k a year because you look only at the highest earning orthopedic surgeons.
Far and away law has way less job availability, stability, flexibility or salary stability without working up the food chain. So sure if you can assure you go to a top law school and get a job at a top partnership than yes you make 150k plus, however bottom of the barrel medicine jobs make 150k right out of residency.
My point is yes for the work we put in and time, the money is not a heck of a lot but given the other factors and benefts its tough to argue any job where there is an ensured path of making 200k and having job stability and flexibility of location. Plus being an MD is noble to most and respected. Being a lawyer (no offense to anyone here) is quite frankly looked upon by 99 percent people as being a bottom feeder person. Not really desirable to me but that is another topic!