| Topic Name: |
JD/MBA |
| Message Name: |
JD/MBA |
| Date Posted: |
12/27/1999 |
| In Reply To: |
I have been accepted to CBS for the fall of 2000 and I have been giving serious consideration to the idea of pursuing a JD/MBA. It seems, though, that the prevailing view is that this is not worth it for MBA students.
I get the impression that an MBA may be worth it for a law student, but that this relationship doesn't work the other way around. For law students the MBA broadens their opportunities and only requires one additional year. For MBAs it requires 2 additional years, and if they plan to go into business they seem dissapointed by the fact that they end up in the same positions (and salaries) that they would have been in otherwise (without the JD).
If I know that I want to pursue a career in M&A, then would the JD/MBA not be the ideal foundation? I am not overly concerned about the 2 years of lost earnings, UNLESS those 2 years represent a lost learning opportunity. Would it be a greater learning opportunity to stick with the MBA (exclusively) and spend that extra 2 years working with an M&A boutique (Wass.&Perr., Lazard).
What about the additional value of the connections that could be made during law school? Is this a significant consideration?
Also, a final consideration I've thought a lot about is the credibility that such an education would impart. Later in life would the JD/MBA not ensure a strong competitive advantage when otherwise equally qualified individuals are up for a management (or promotion) consideration? If I had "CEO aspirations" doesn't it seem that the added education may pay off.
What about the added advantage of having 3 summer employment opportunities before beginning full time work? If the JD/MBA takes 4 years (and it does) then that implies that the candidate is able to work as a summer associate during three summers.
This could mean the following:
Summer 1: Consulting Firm (Financial Institutions Specialty)
Summer 2: Wall St. Law Firm (Cravath; Wachtell, etc.)
Summer 3: "Bulge" Bracket Bank (Goldman, MS, Merr, etc.)
Full Time Job: M&A firm
Has anyone considered the added value of having so many summer opportunities?
I don't know that I am particularly swayed by the arguments I've presented above, but I'd love to hear someone else comment further on this discussion.
|
| Message: |
I can understand that everyone is interested in career prospects with different degree profiles. But look, it's a long road out there, and there will be manifold junctions at which your experience will help you make a correct decision or give better quality advice - and this includes the "experience" you have of statutory interpretation and tax principles and limited liability that you get in law school as well as the general sense (and let's face it the MBA is at best a tumbnail sketch of all areas) you get of finance.
Almost all higher level lawyers, consultants, bankers, managers, and politicians operate on a stage which is the synthesis of the legal and business spheres. Ignore either sphere at your peril. And if you have the time and money, get both degrees. I doubt you'll ever regret it.
|
|
