Are corporate lawyers richer than doctors? The answer is no. But that doesn’t mean there is anything wrong with being in the medical profession. Doctors make a lot of money, just not as much as corporate attorneys. It’s more common for corporate lawyers to make a lot more money than doctors because of their skill set and expertise.
Many people choose to become a doctor, so as you can imagine, you have millions of doctors. There are only around 800 lawyers in the U.S and Canada combined. This doesn’t give us an accurate picture of how much a lawyer is worth (since there are many variables), but the numbers do show that they make more money than doctors, some of which can be attributed to their higher levels of education and experience.
Are corporate lawyers richer than doctors?
Yes, corporate lawyers are richer than doctors.
Corporate lawyers, in comparison with doctors, earn much more money. This is because they work in the same industry as other lawyers who specialize in the same area of law. For example, if you are an attorney specializing in healthcare law, then you will likely be working with other attorneys who specialize in healthcare law.
The average salary of a corporate lawyer is $117,000 per year and the average salary for a doctor is $92,000 per year.
Most people think that corporate lawyers are richer than doctors. But does this mean that they are also more respected?
In fact, it turns out that there is no correlation between wealth and respect. On the contrary, doctors are much more respected than lawyers in America.
The answer is yes, but only because the difference in income between doctors and corporate lawyers is so small.
The median doctor earns about $200,000 a year and the median corporate lawyer earns about $180,000 a year. The average income for doctors is around $250,000 and for corporate lawyers, it’s about $220,000.
One reason that doctors earn more than corporate lawyers is that an average doctor spends much more time in practice than an average corporate lawyer does. A doctor might spend 3 or 4 years training before becoming board certified, compared with just 1 year for an average corporate lawyer.
Another reason that doctors earn more than corporate lawyers is that they spend more time caring for patients than corporate lawyers do. Doctors spend most of their time seeing sick people who are often very ill; they don’t have as much time to deal with other issues like taxes and downsizing.
A third reason that doctors earn more than corporate lawyers is that their education costs more: medical schools cost much more than law schools do (about $100,000 per year).
The answer, unfortunately, is yes.
Corporate lawyers make more than doctors. And they’re not just making more money; they are also getting paid more for their work.
A recent study by the University of Utah’s Center for the Study of Law and Economics looked at how much doctors and lawyers earned in 2011. The researchers found that medical professionals made an average of $230,000 a year, while corporate attorneys made $212,000. The numbers are similar for allopathic physicians and osteopathic physicians (MDs and DOs), respectively.
The gap between what doctors and lawyers earn is even wider when you consider that there are fewer doctors than there are lawyers: According to the American Medical Association (AMA), there were approximately 930,000 physicians in 2011 compared with about 538,000 attorneys; some estimates put the number of attorneys at over half a million people. That means that lawyers make about five times as much as doctors do on average — or more if you factor in additional factors such as experience, licensure requirements, or location.
We wanted to share with you the findings of our research. It doesn’t matter if you are debating whether or not to become a corporate lawyer or a doctor, this list will provide information on which career pays more. To start, corporate lawyers earn around $85,000 while doctors take home $90,000. That might not sound like a lot but it’s plenty of money if you’re able to hold down a job in both of these careers.
The short answer is yes. Corporate lawyers often out-earn doctors, at least in absolute terms. That may be surprising to you if you think of lawyers as a bunch of well-paid scoundrels who are only good at telling lies in court (or on paper). It seems that corporate lawyers are also good at finding creative ways to make money (especially if they work at big law firms).