Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
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 | Lawyer | |
| Yearly salary | $162,715 | $115,808 |
| Hourly rate | $78.23 | $55.68 |
| Growth rate | 10% | 10% |
| Number of jobs | 28,460 | 2,897 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 51% |
| Average age | 43 | 46 |
| Years of experience | 4 | 4 |
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.
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 bankers and lawyers have different pay scales, as shown below.
| Investment Banker | Lawyer | |
| Average salary | $162,715 | $115,808 |
| Salary range | Between $95,000 And $276,000 | Between $64,000 And $208,000 |
| Highest paying City | Boston, MA | Washington, DC |
| Highest paying state | Alaska | New York |
| Best paying company | Citi | Nelson Mullins Riley & Scarborough |
| Best paying industry | Real Estate | - |
There are a few differences between an investment banker and a lawyer in terms of educational background:
| Investment Banker | Lawyer | |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 51% |
| Most common major | Business | Law |
| Most common college | University of Pennsylvania | Stanford University |
Here are the differences between investment bankers' and lawyers' demographics:
| Investment Banker | Lawyer | |
| Average age | 43 | 46 |
| Gender ratio | Male, 76.2% Female, 23.8% | Male, 48.5% Female, 51.5% |
| Race ratio | Black 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 Percentage | 6% | 10% |