Lawyers vs Financial Managers salary

As reported by the US Bureau of Labor Statistics, Lawyers earn an average of $148,030 per year, while Financial Managers earn an average of $153,460 per year. Therefore, these careers pay similar salaries.

However, it's important to keep in mind that the salary of an employee can be influenced by factors such as location and experience. In particular, Lawyers working in Washington DC (with a salary of $198,820 on average) may earn more than those in Wyoming ($92,410). To provide another instance, Financial Managers in New York have an average salary that is 106% higher than those in Mississippi.

Lawyers vs Financial Managers overview

Lawyers and Financial Managers are two important occupations in the Professional, Scientific, and Technical Services industry. Many people are interested in understanding the differences between these occupations, as well as the average pay for each.

Lawyer job description

Alternative names: Attorneys

Lawyers represent clients in criminal and civil litigation and other legal proceedings, draw up legal documents, or manage or advise clients on legal transactions. May specialize in a single area or may practice broadly in many areas of law.

Lawyer education and experience

Most Lawyers (68%) have a First Professional Degree. But this field also includes some employees who have a Doctoral Degree (31%). Regarding experience, over half Lawyer occupations require a 2 to 4 years of previous experience working in the field. A smaller portion of roles (15%) require no previous experience.

Lawyer average salary

As stated by the US Bureau of Labor Statistics, the United States employed 681,010 Lawyers in 2021, and the average income they earned annually was $148,030. The bottom 10 percent had earnings of $61,400 or less, and the top 10 percent had earnings of $208,000 or more. The average salary has a decrease of 0.6% in comparison to the previous year.

Do Lawyers make good money?

Lawyers are typically paid well, since their mean salary is 154% above the average pay in the United States ($58,260). Furthermore, they make 62% more than the mean salary of the Professional, Scientific, and Technical Services industry ($91,150).

Lawyers are typically paid well, since their mean salary is 154% above the average pay in the United States ($58,260).

Lawyers job growth

Lawyers have seen growth in employment over the past two years. In 2021, there have been 22,890 more job opportunities than the previous year across the nation, and that shows an increase of 3.5%. Over the past 3 years, job growth has averaged 2%.

Financial Manager job description

Financial Managers plan, direct, or coordinate accounting, investing, banking, insurance, securities, and other financial activities of a branch, office, or department of an establishment.

Financial Manager education and experience

Most Financial Managers (56%) have completed a Bachelor's Degree. But additionally, among employees with this job title, there are also some with a Post-Baccalaureate Certificate (21%) and a High School Diploma (14%). When it comes to experience, 42% of Financial Manager occupations require a 4 to 6 years of previous work-related experience. A smaller number of roles (22%) require a previous experience of 1 to 2 years.

Financial Manager average salary

According to data from the US Bureau of Labor Statistics, the number of Financial Managers employed by the United States in 2021 was 681,070, and they earned an average annual income of $153,460. The bottom 10 percent had a salary of $77,040 or less, and the top 10 percent had a salary of $208,000 or more. The average salary has an increase of 1.3% in comparison to the previous year.

Do Financial Managers make good money?

Financial Managers are typically paid well, since their mean salary is almost two times above the average pay in the United States ($58,260). Moreover, they make 114% more than the mean earnings of the Credit Intermediation industry ($71,620).

Financial Managers are typically paid well, since their mean salary is almost two times above the average pay in the United States ($58,260).

Financial Managers job growth

In 2021, there have been 27,990 more Financial Manager job opportunities than the previous year across the nation, and that shows an increase of 4.3%. The average job growth rate for the past 3 years has been 3.9%.

FAQ

Do Lawyers or Financial Managers make more?

These two professions have salaries that are similar. On average, Lawyers make $148,030 per year, while Financial Managers make $153,460.

How long does it take to become a Lawyer vs Financial Manager?

Lawyers generally need a First Professional Degree. It most often takes between 3 years and 4 years to obtain a First Professional Degree. But, considering that a Bachelor's Degree must be obtained first, it may take around 8 years to complete the full educational program. While on the other hand, Financial Managers generally need a Bachelor's Degree. It most often takes around 4 years to obtain a Bachelor's Degree.

Is it harder to become a Lawyer vs Financial Manager?

Becoming a Lawyer is considerably harder than becoming a Financial Manager, as it takes 4 more years of education.