When I was growing up there was this idea that the best of the best became doctors (physicians) and lawyers; and that these were well paid careers. Today that’s broadly no longer the case.
Both professions certainly have a top tier that earns a lot (top firm partner, top specialist surgeon) that does very well but the vast majority in both professions aren’t particularly well paid and also are no longer attracting the “best and brightest” out of graduating classes. Your typical established doctor these days makes what would be considered an early career salary at FAANG—and that’s before considering the crazy amounts of debt that many law and medical students take on. Many lawyers (outside top firms) make very little considering the amount of training required.
A savvy tradesman these days (e.g. Plumber) can easily make more than most lawyers and even many physicians. I’ve cited that a lot when giving career advice to those being pressured into a college degree when it’s probably not the right fit for them.
Both professions certainly have a top tier that earns a lot (top firm partner, top specialist surgeon) that does very well but the vast majority in both professions aren’t particularly well paid and also are no longer attracting the “best and brightest” out of graduating classes. Your typical established doctor these days makes what would be considered an early career salary at FAANG—and that’s before considering the crazy amounts of debt that many law and medical students take on. Many lawyers (outside top firms) make very little considering the amount of training required.
A savvy tradesman these days (e.g. Plumber) can easily make more than most lawyers and even many physicians. I’ve cited that a lot when giving career advice to those being pressured into a college degree when it’s probably not the right fit for them.