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IB vs. Lawyer, who makes more money?
it depends. entry level lawyers have seen their compensation up significantly
the last few years, especially those in private equity / M&A. 1st year
associates at a good law firm get about $200K now. and for 2nd years you are
in the $300K - $350K range. a new income partner can make $500 - 750K, and a
new equit partner inthe $1 million range.
In investment banking, you start in the $150K range, and when you get to VP,
your comp will be in the $400K range (for example, IB in leveraged finance).
Both work grueling hours but the lawyers are usually on the receiving end. 1st
associates are pretty useless for firms so they are used as slaves. and if
you cannot prove yourself in the first 2-3 years, your options are quite
limited, as a corporate finance lawyer.
if you really want to be a lawyer, try to get in environmental laws: 95%+ of
all expenditures on environmental related affairs are spent on litigation, not
remediation.
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