So who earns more......... (1 Viewer)

[dan_viper88]

Just to get an idea of what profession people think earns more money.
Accountants, lawyers, Architects, etc...

What are your opinions on this?

 

[mr_brightside]

Well it all depends on whether your good at what you do.

 

[gordo]

ummmm

well i guess it depends, if you are good at your profession then you'll earn more than the average trends suggest. Also, 1,2,5,10 years after graduation, different professions increase at different rates (again depending on how good you are)

there are tables somewhere released this year with longer term projections I remember eading in the sydney morning herald.

I think based on graduate average saleries doctors, dentists and lawyers started mid-top range and ended up at the top over a 10 year period and pretty much everyone else started average and kept rising at an average pace. I rememebr mining engineers started out up top.

 

[turtleface]

I agree with the above posters when they say any profession can get you heaps if you do well in it.

But be careful of newspapers and gov stats though. The problem with what newspapers publish is that they use questionable profession groupings and also often use medians instead of weighted means. For instance if you're gonna group say Solicitors with Barristers who are self employed you're gonna get weird figures.

(Before reading on, I realise people will probably protest the accuracy of my comments...if people do I will post supporting evidence but seriously I cbfed. Additionally I'm not an IBanker wannabe so hopefully I wont appear biased.)

Heres the low down on what professions earn the most:

1. Investment Banker earn the most out of any profession, both upper range and mean wise, both at graduation, and at 1,2,5,10,20 years time.
Upon Graduation: Base: $80,000+ and also a bonus of another $40-120,000. Potentially you can get $240,000 first year out as a 21 year old.
up to - If you are a hardworker in the U.S.: >$350 Million USD. Yes. $350 Million. in U.S. Dollars.
(I stress I am not an IB wannabe and I'm not flogging it as a career, this is simply to answer the posters question)

2. and then in no order:
Some Surgeons, some Trial Attorneys in the U.S., some Mining/Tech Engineers, some Accountants who are CFOs/Partners, some Management Consultants....basically the moral is if you go high in your chosen profession you will earn lots. There is no profession that you will not earn absurdly high amounts in.


Generally, at graduation (in Australia):
Investment Banker>Mining/Geo Engineer>Dentist>Doctor>Lawyer>all the rest of em
- with the lowest paid jobs being in Accounting, Pharmacy and Architecture.
-note: In the U.S.A, grad Lawyers get paid shitloads more with about USD$140,000 on graduation for some top law firms. But then they have to do about 7 years of schooling there.

At high ranks (again, in Australia):
Investment Banker>Management Consultant>Accountant(C&I)>Lawyer (Solicitor)>Actuary>Accountant(public practice)>Engineer>Dentist>Doctor>the rest of them
However I would be guessing for this ^ as the spread is very thin at upper levels...they all get about the same at the top levevls, with the exception of the Investment Banker who gets about $10million+

 

[blackfriday]

a smart person with a good idea will earn more than all of them put together. why is everyone so hell bent on working for someone as opposed to backing themselves?

 

[gordo]

also with doctors, the mean for a gp compared with that of a specialist would be vastly different.

 

[turtleface]

also with doctors, the mean for a gp compared with that of a specialist would be vastly different.

...

Compared to a specialist in what?
General Practice itself is a specialisation...

 

[santaslayer]

a successful pimp would probably kill all those professions off the list

 

[+Po1ntDeXt3r+]

a successful pimp would probably kill all those professions off the list

id like to know in how to invest my money into pimping ... i think id be better off..

 

[blackfriday]

well if you know how to exploit women on a drug dependency you're halfway there.

 

[gordo]

...

Compared to a specialist in what?
General Practice itself is a specialisation...

a gp who bulk bills $30 per half hour compared to an anaesthetist who charges 5 grand per operation

 

[MoonlightSonata]

It depends on the sub-categories of the professions too.

For instance, generally barristers earn quite a bit more than solicitors.

 

[xeuyrawp]

It depends on the sub-categories of the professions too.

For instance, generally barristers earn quite a bit more than solicitors.

And 'solicitors' (ie, managers) who are senior partners in a fuck-off firm own twice them.

I think, generally, those who earn big bucks are those that are involved in management. Sure, a good barrister could earn a bucket, but there's a limit - and that's the amount of work he can do.

Also, you can't really have another occupation when you're at the bar - solicitors seem to be able to be more flexible in their time arrangements.

 

[+Po1ntDeXt3r+]

a gp who bulk bills $30 per half hour compared to an anaesthetist who charges 5 grand per operation

more accurately
GPs Consult about 10-15mins at $45.. n 20 mins for $60... medicare subsidises most of it.. thats why most of us pays ~$20..

Anaesthetist charge about $300/hr..
Surgeons can charge about upwards of $800/hr..depending on work done

puts maccas to shame..

its lik law... there are sooo many exceptions.... lik in WA chief medical officer earns lik $1mil/yr.. for technically 2 jobs.. highest in the public domain tho... private is far better..

 

[turtleface]

more accurately
GPs Consult about 10-15mins at $45.. n 20 mins for $60... medicare subsidises most of it.. thats why most of us pays ~$20..

Anaesthetist charge about $300/hr..
Surgeons can charge about upwards of $800/hr..depending on work done

puts maccas to shame..

its lik law... there are sooo many exceptions.... lik in WA chief medical officer earns lik $1mil/yr.. for technically 2 jobs.. highest in the public domain tho... private is far better..

Its a shame that they don't boost pay in Medicine jobs. I'm sure if they do it will attract more talent from a lot of Business and Law students.

Its a bit depressing that a Surgeon can only charge 800/hr + when an Accounting Partner goes at about $900 and a top Actuary is at like $1200.

Also I agree GPs more than people think. Its not like GPs are the crappy doctors or paraprofessionals in society. General Practice itself is a specialisation just like cardiology, immunolgy etc.

 

[+Po1ntDeXt3r+]

they are public service jobs tho..

economically u cant do much.. unless u like ppl to die..

i think if u read my post more accurately.. they charge upwards... not the top... if they are experienced or the surgery is hard or private.. they charge far more... to cover their insurance..

tho if u like money, less study, less ppl.. i say go for investment banking

 

[turtleface]

tho if u like money, less study, less ppl.. i say go for investment banking

I dunno about less study...a typical new banker nowdays has at least a honours or 2 undergrad degrees (4-5years) and also typically attains a MBA or a CA or a CFA or a qualification with Finsia, each of which involves 2-3 years of further education.

They should pay Med people more...you need to attract and retain the best. Per hour figures are too low especially for surgeons since they are capped on the hours they can work. Unless Ibankers who might to like 130 hours a week or 3 days straight.

Still...I guess the IBanker would eventually have to rely on the Doctor after that type of stress catches up with him/her