<p>
Sakky and rocketman both bring up very good points. I don’t think either of them disagree that BLS stats may be misleading.
Now I’m going to go with an anecdote and I recognize that a sample size n = “a few” doesn’t mean too much in the grand scheme of things, but perhaps others can put this into consideration:
I know quite a few Reservists in the US Army Reserves and National Guard that are also police officers. They are mostly retired. I don’t think the BLS statistics factor in “total compensation” in that they just report income based on one employer (your primary career). If you know how to work the system, play the politics, make the necessary commitment etc. a large department police officer who is also a commissioned officer in the reserves can do quite well.</p>
<ul>
<li>dual pension and benefits</li>
<li>ability to double dip on deployments, etc.</li>
<li>retire with full benefits before age 50</li>
<li>pursue a third career by age 50</li>
<li>far better scholarship for prestigious universities (Post 9/11 GI Bill, Yellow Ribbon, State Tuition Waivers, etc.)</li>
</ul>
<p>I’ve done a little sketchy math and if you were to promote to and retire at the rank of Inspector in the NYPD and O-6 Colonel in the USAR/NG and go on to a third career, you would have to be making $350,000/year with stability in the private sector in the long run to match. Obviously, I’m not pricing in “hazards” of the career field. I don’t think it’s something you can really price in accurately. People who choose this line of work and excel in it probably love it and wouldn’t trade it for anything in the world. I’m probably speaking from that point of view - I’m sure it’ll change by the time that I’m 30. It won’t change in the sense that, “Wow. I don’t want to risk that” but more in the sense that all the “cool-tactical-high-speed” stuff you found exciting when you were 22 is boring and “ugh…we’ve got to do this again?” sense. You’ll probably want to move on to bigger and more challenging things such as having an impact on public policy, etc.</p>
<p>I think that Sakky is may right though. Over the long term I think the “average” lawyer will earn more than the “average” police officer.</p>