I am guessing most of the folks asking these questions are JC boys or girls wondering about which course to take in university.
I can't speak for doctors as I am not one, but the starting pay for a lawyer, as well as for young lawyers (1-3 PQE) varies with the times.
Just 3 years ago, lawyers in big local firms started out at an average of about $4,000-$4,500. When the global financial crisis struck, the starting pay got depressed to around $3,800-$4,200 with retention rates falling drastically (especially for corp lawyers). Now, with business picking up and the law firms switching to a different pay scheme (paying more monthly wages and reducing lump sum bonuses), the starting pay is above $5,000.
In this short example, you can see how various events beyond our control affect our salaries. There will be more of such events to come.
What will happen if the property bubble in China bursts? Or if US enters double dip recession? And combined with the additional intake from
SMU and foreign grads?
Whatever figures we give you now are at best a tentative guide. Up or down, and by how much? No one can say.
In any case, perhaps you guys may be slightly presumptuous in thinking that you will even have a choice between med and law. Apply to both; it isn't a given that you get offers from both faculties (even if you do extremely well). Worry about which to go to when you actually get both offers.