Post job

Investment banker vs lawyer

The differences between investment bankers and lawyers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both an investment banker and a lawyer. Additionally, an investment banker has an average salary of $162,715, which is higher than the $115,808 average annual salary of a lawyer.

The top three skills for an investment banker include financial services, discounted cash flow and capital markets. The most important skills for a lawyer are litigation, law firm, and legal issues.

Investment banker vs lawyer overview

Investment BankerLawyer
Yearly salary$162,715$115,808
Hourly rate$78.23$55.68
Growth rate10%10%
Number of jobs28,4602,897
Job satisfaction--
Most common degreeBachelor's Degree, 69%Bachelor's Degree, 51%
Average age4346
Years of experience44

What does an investment banker do?

An investment banker is responsible for selling and issuing securities and financial assets to the stock markets to generate money and raise capital for organizations and financial institutions. Investment bankers also work with private clients to advise them of investment options and financial transactions according to the market's condition and clients' interests. They handle the clients' investment portfolios and create propositions for acquisitions and company mergers. An investment banker must have excellent knowledge of the financial and stock industry, as well as having excellent analytical skills to review statistical data and determine the best financial strategies.

What does a lawyer do?

A lawyer is a legal practitioner who specializes in understanding and interpreting laws and other legal matters. Their responsibilities revolve around providing legal counseling and advice, representing clients in different kinds of court proceedings, conducting research, collecting evidence, and coordinating with various experts. A lawyer must also manage and oversee the performance of assistants, paralegals, and other team members. Furthermore, there are instances when a lawyer must draft or manage documents such as contracts, trusts, deeds, and wills, assisting clients as needed.

Investment banker vs lawyer salary

Investment bankers and lawyers have different pay scales, as shown below.

Investment BankerLawyer
Average salary$162,715$115,808
Salary rangeBetween $95,000 And $276,000Between $64,000 And $208,000
Highest paying CityBoston, MAWashington, DC
Highest paying stateAlaskaNew York
Best paying companyCitiNelson Mullins Riley & Scarborough
Best paying industryReal Estate-

Differences between investment banker and lawyer education

There are a few differences between an investment banker and a lawyer in terms of educational background:

Investment BankerLawyer
Most common degreeBachelor's Degree, 69%Bachelor's Degree, 51%
Most common majorBusinessLaw
Most common collegeUniversity of PennsylvaniaStanford University

Investment banker vs lawyer demographics

Here are the differences between investment bankers' and lawyers' demographics:

Investment BankerLawyer
Average age4346
Gender ratioMale, 76.2% Female, 23.8%Male, 48.5% Female, 51.5%
Race ratioBlack or African American, 5.5% Unknown, 4.1% Hispanic or Latino, 11.5% Asian, 12.4% White, 66.2% American Indian and Alaska Native, 0.2%Black or African American, 5.4% Unknown, 4.4% Hispanic or Latino, 7.7% Asian, 6.3% White, 76.0% American Indian and Alaska Native, 0.3%
LGBT Percentage6%10%

Differences between investment banker and lawyer duties and responsibilities

Investment banker example responsibilities.

  • Utilize Bloomberg system and company proprietary research to actively monitor portfolios and manage trading activities to achieve customers' goals.
  • Provide service for existing brokerage accounts, manage accounts, annuities, and securities-base lines of credit.
  • Attain NMLS identification number for mortgage origination.
  • Generate reporting data from Salesforce platform to facilitate growth and manage firm operations.
  • Manage customer portfolios, service relationships, and used profiling analysis tools to identify cross-selling opportunities.
  • Manage a variety of internal initiatives including merchandising, cross-selling, customer retention programs and promotional campaigns.
  • Show more

Lawyer example responsibilities.

  • Participate in drafting legal documents and prepare business contracts, perform taxation duties for the enterprise and settle disputes with employees.
  • Handle all types of civil claims and provide notary services
  • Review of complaints relate to judicial ethics and employee misconduct.
  • Draft, proofread and ensure filing and service of criminal motions.
  • Draft a variety of pleadings and motions on behalf of the plaintiff.
  • Assist clients at the notary public office and negotiate licensing agreements for virtual data rooms.
  • Show more

Investment banker vs lawyer skills

Common investment banker skills
  • Financial Services, 6%
  • Discounted Cash Flow, 6%
  • Capital Markets, 6%
  • Financial Statements, 6%
  • Client Relationships, 4%
  • Securities, 4%
Common lawyer skills
  • Litigation, 14%
  • Law Firm, 8%
  • Legal Issues, 7%
  • Real Estate, 6%
  • Legal Research, 6%
  • Civil Law, 5%