Assuming you are talking about the relative prestige of lawyers in Australia? In the US, they are still generally considered high status by the culture, although those of us who have been in the world are much more aware of the fact that just going to law school often reduces your status by objective measures like buying power and employment options (I am a law school dropout). But, most JD earners consider themselves higher status than they would be without their JD.
Yes on prestige. Last I checked lawyers make an excellent living here too. University fees are less crippling because you aren't forced to make repayments unless you are earning over a certain amount.