Law has a wide distribution: the upper end of lawyers can out-earn doctors, but a great mass do worse.
Do you mean that amogst all law specializations, the “great mass” do worse, even in the more lucrative specializations, because the profession is so competitive and only partners in firms are making the big money? Or do you just mean that many lawyers end up in or choose specializations that are less lucrative in the first place? An interest in pursuing law would come out my interest to make money at it and I have the skills to become succesful in the profession. I wouldn’t necessarily feel the need to make as much as a doctor, but if my income would be no greater by what I studied in law school, then I would just choose not to attend in the first place.
I mean that there is segmentation in the market: lawyers in large firms (and some boutiques) serving large corporate clients tend to make much more than other lawyers. I will be posting more on the legal market on 80,000 hours.
Do you mean that amogst all law specializations, the “great mass” do worse, even in the more lucrative specializations, because the profession is so competitive and only partners in firms are making the big money? Or do you just mean that many lawyers end up in or choose specializations that are less lucrative in the first place? An interest in pursuing law would come out my interest to make money at it and I have the skills to become succesful in the profession. I wouldn’t necessarily feel the need to make as much as a doctor, but if my income would be no greater by what I studied in law school, then I would just choose not to attend in the first place.
I mean that there is segmentation in the market: lawyers in large firms (and some boutiques) serving large corporate clients tend to make much more than other lawyers. I will be posting more on the legal market on 80,000 hours.