Are doctors or lawyers more rich?
Asked by: Prof. Ima Torp DDS | Last update: October 2, 2025Score: 4.1/5 (26 votes)
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 the richest between lawyer and doctor?
The short answer is that doctors earn more, with horsemanship doctors at ₦160,000/month, while lawyers' salaries range from ₦20,000 to ₦300,000/month based on experience. A comparative study reveals doctors are generally paid higher, averaging ₦600,000/month for specialists.
What is more prestigious, a doctor or a lawyer?
In general, a doctor. This does not mean every doctor is more prestigious than every lawyer. One reason would be that there are significantly fewer doctors than there are lawyers. I hasten to add that the help a person could get from a practitioner of either profession is priceless.
What percentage of doctors are rich?
About 51% of doctors reach a net worth of $1 million or more, but this changes a lot based on their age and area of work. Younger doctors, especially those just starting out, usually have lower net worths.
Are lawyers usually rich?
Data from the Bureau of Labor Statistics show that the top-paying states for lawyers are: District of Columbia — $226,510 annual mean wage. California — $201,530 annual mean wage. Massachusetts — $196,230 annual mean wage.
10 Signs You Should Become A Lawyer
Are lawyers rich in the UK?
Salaries for newly qualified lawyers across the rest of the UK are in the region of £40,000 to £70,000. If you become the partner of a firm you can expect a six-figure salary in a small, regional firm and a seven-figure salary in Magic Circle and USA-based firms.
Can lawyers make millions?
Can Lawyers Earn a Million Dollars? Despite your legal expertise, the chances of making a million dollars as an independent attorney are low. However, you might earn a million-dollar salary if you become a senior partner at a major firm or start your own practice.
How much do top 1% doctors make?
Doctors like money
The average doctor earned $350,000, as of 2017, the researchers reported in a 2023 working paper, which is awaiting publication in the Quarterly Journal of Economics. The top 1% of physicians earned more than $1.7 million a year.
Is being a doctor a rich job?
Being a doctor doesn't make you rich
That's a nuanced argument. Especially when you get into the differences in pay between specialties. However, regardless of your specialty, you make in the top 1% of income in the U.S. and the world as a physician. So, you are a highly-paid individual.
What is the richest type of doctor?
A neurosurgeon is the highest-paid doctor on our list. Neurosurgery encompasses surgery of the brain, spinal cord/column, and peripheral nerves. Aspiring neurosurgeons must complete at least a seven-year residency. The average annual compensation for neurosurgeons is $763,908, putting them at the top of our list.
Is law or doctor harder?
Each path demands extensive education and a commitment to rigorous training before becoming a qualified professional. Although both law and medical schools present their unique challenges, it's generally accepted that medical school demands a higher level of intense coursework and thorough training.
Who earns more doctors or lawyers UK?
Lawyers are earning an average of £92,606 each year; they are the second highest earners and beaten only by chief executives, who earn an average of £130,734, according to the ONS' 2021 data. By contrast, doctors took home £74,588 this year and dentists £59,669.
Who earns more a doctor or a lawyer?
The Bureau of Labor Statistics gives median salaries for both doctors and lawyers, so it's clear that the doctors' number is higher. But median salaries are the midpoint in a list of salaries for one occupation, meaning that half of the list makes more and half makes less.
Are lawyers or bankers richer?
On Wall Street, Lawyers Make More Than Bankers Now - WSJ.
How many millionaires are lawyers?
My math says 0.3%-0.35%. There are 4100 biglaw attorneys who rake in a million a year or more, which is 0.31% of all attorneys; the 100 highest paid GCs average $2.7 million per year, and there are easily just as many solo or small-firm attorneys who also make that much.
What kind of lawyer gets the most money?
Corporate and tax lawyers tend to be the highest earners, with patent and IP lawyers not far behind. Trial lawyers also pull down a lot of money, particularly in the civil litigation field.
Can doctors be a millionaire?
Still, they can expect to have an average net worth of $500,000 if they have managed their finances carefully and have begun investing. By the time physicians reach their forties, it is very possible to achieve millionaire status, with some physicians even becoming multimillionaires.
Are doctors rich in the UK?
The UK is in the top 5 highest paying countries in the world. After the USA, Canada, and Australia, the doctors of the UK are highly paid. According to a survey conducted by Medscape, the average doctor wage in the UK is GBP 101,000 (INR 1,06,71,750).
Do doctors struggle financially?
Doctors struggle with money because their education is expensive. As the cited data suggests, medical school is expensive and costs more each year. The average medical student graduates with over $200,000 in medical education debt, not including undergraduate loans.
Do doctors make 300k a year?
Overall, the average physician salary is $277,000 annually for primary care physicians and $394,000 for specialists, according to the 2024 Medscape Physician Compensation Report.
What is the hardest doctor to become?
What is the most difficult type of doctor specialty? Neurosurgery is known to be particularly challenging because of the intricate nature of the nervous system and the significant risks involved in surgical procedures.
Can doctors earn 200k UK?
Doctors receiving up to £200,000 on top of their usual salary are effectively being paid double their annual pay packet for overtime alone. Many of the consultants earning the most are believed to be part-time, they are being paid more than £200 per hour, or four times their normal pay, for extra shifts.
Can a lawyer make 500k a year?
Absolutely, that is an achievable income. It all depends on your area of expertise and the client you work for. Attorneys who specialize in corporate law or work closely with companies to battle litigation cases or draft terms and conditions can earn more than those who work with smaller clients.
Can lawyers make 7 figures?
Corporate Lawyer (Partner)
Though that's far from pocket change, it's certainly not landing you in the earnings tier of a millionaire. That said, corporate lawyers generally stand to make the most and can pull in seven figures a year — if they make partner.
Are lawyers actually paid well?
California has the highest average salary for lawyers, only being surpassed by the District of Columbia, where lawyers command an average annual salary of $226,510. This figure is approximately $138,000 more than the average salary of a lawyer in Wyoming, which is currently the lowest-paying state for lawyers.