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Advantages of JD/MBA
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Date: August 21st, 2005 4:04 AM Author: Narrow-minded scarlet roast beef http://jdmba.blogspot.com/2005/07/advantages-of-jdmba.html
Recently a number of people have emailed me asking about salary statistics for JD/MBA graduates. This is very hard to quantify as there is no such thing as a "JD/MBA position". JD/MBA graduates work as attorneys or in business and their salaries will correlate strongly (at least in the short term) with their JD or MBA counterparts depending on the route they choose. Many large law firms are now offering recent JD/MBA graduates a bonus and or 2nd year associate status.
Here is a very interesting link from Columbia (but a few years old) with bonus statistics for new JD/MBA hires: http://www0.gsb.columbia.edu/students/organizations/ddsa/jdmbasur.htm
Some drawbacks of a JD/MBA:
Clearly the bonus itself will not pay for the extra year (the Northwestern 3 year JD/MBA program is an exception) of school and opportunity cost of giving up another years income.
Some law firms may be scared that JD/MBA graduates will be more likely to leave in a few years for jobs in finance or business. These firms need to be convinced of your passion to practice law or they will be hesitant to hire you.
Unlike top law schools, most top MBA programs will not admit people without significant full time work experience. For those with limited work experience it may become slightly easier to gain admission to business school after already being admitted to law school. Many JD/MBA programs will allow law students to apply to the business school during their first year at the law school.
Some advantages of a JD/MBA:
Increased flexibility: It will be much easier to leave a law firm job to go in house at a corporation, investment bank, venture capital firm, etc later in your career.
More credibility: As a lawyer your clients (business people) will respect you more if they feel you can understand their business and financial statements, etc. An MBA may help here. This may help you with rainmaking (bringing in clients) or making partner at a law firm (which is a business itself) down the road. This does not imply that without an MBA you cannot be credible. Most attorneys learn what they need to about business on the job and do just fine.
Of course you do not need to practice law at all. A JD will help you make better decisions in the business world if you decide to go the business route right away after a JD/MBA program. Investment Banking is a common option here. However if you are sure you do not want to ever practice law you should think carefully about going to law school at all. Just about any business (non legal job) is accessible without a JD and a MBA may suffice by itself.
If you are an entrepreneur at heart like me you may also find that having a JD may make it easier to raise capital for new businesses, etc as it will increase your credibility. My goal is to ultimately start my own hedge fund and or venture capital firm with an emerging market (China) focus. For finance related jobs a CFA is perhaps just as good or even better (depending on your MBA program) as an MBA. I recommend that as well.
http://jdmba.blogspot.com/ |
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Date: August 21st, 2005 4:05 AM Author: wonderful massive forum Does this qualify as spam? (http://www.autoadmit.com/thread.php?thread_id=244348&forum_id=2#3644389) |
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Date: August 21st, 2005 4:07 AM Author: Brilliant cracking turdskin main people He refers to Columbia and NU, so I guess the notion of prestige is implicit in his opinions, correct? (http://www.autoadmit.com/thread.php?thread_id=244348&forum_id=2#3644399) |
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Date: August 21st, 2005 4:08 AM Author: wonderful massive forum Is he a regular poster, or is this a clever advertisement? Just curious. (http://www.autoadmit.com/thread.php?thread_id=244348&forum_id=2#3644409) |
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Date: August 21st, 2005 4:10 AM Author: Brilliant cracking turdskin main people I have no idea. Does it really matter? Besides the Columbia and NU plugs, this seems to be pretty useful advice. This is an educational board, after all. (http://www.autoadmit.com/thread.php?thread_id=244348&forum_id=2#3644417) |
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Date: August 21st, 2005 4:11 AM Author: wonderful massive forum true enough. (http://www.autoadmit.com/thread.php?thread_id=244348&forum_id=2#3644422) |
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Date: August 21st, 2005 1:54 PM Author: Ocher naked pocket flask I would love to work in VC. I think this guy is legitimate. (http://www.autoadmit.com/thread.php?thread_id=244348&forum_id=2#3645476) |
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Date: August 21st, 2005 4:22 PM Author: Narrow-minded scarlet roast beef Feel free to ask me any questions you like in order to determine if I am "legitimate" or not. I start my second year of law school in a few weeks. (http://www.autoadmit.com/thread.php?thread_id=244348&forum_id=2#3646442) |
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Date: August 21st, 2005 4:39 PM Author: Irradiated violent senate I think he's legit but incredibly toolish and weird. Some people sound much better online than in person. If he's interviewing, hopefully the reverse is true for him. (http://www.autoadmit.com/thread.php?thread_id=244348&forum_id=2#3646575) |
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Date: August 21st, 2005 4:42 PM Author: Narrow-minded scarlet roast beef I actually interview VERY well. (http://www.autoadmit.com/thread.php?thread_id=244348&forum_id=2#3646599) |
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Date: August 21st, 2005 4:59 PM Author: Ocher naked pocket flask This last comment further proves the above point. (http://www.autoadmit.com/thread.php?thread_id=244348&forum_id=2#3646723) |
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Date: August 21st, 2005 5:00 PM Author: arrogant really tough guy plaza The problem is that people who don't interview well often do so because they have an inability to gauge other's reactions.
So...either you do interview well or you are incapable of either interpreting the information and are, in fact, doing poorly. |
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Date: August 21st, 2005 5:02 PM Author: Ocher naked pocket flask Subject: Real Question If you really want to be helpful, I have a legitimate question.
1. What JD/MBA programs are the equivalent of a YHS JD? Are any clearly superior? I imagine Harvard is good as they have a toprated business school. What sets JD/MBA programs apart from one another other than the respective prestige of their individual JD and MBA programs.
Thanks. |
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Date: August 21st, 2005 5:28 PM Author: Narrow-minded scarlet roast beef The answer to that question depends on your career goals. Exactly what do you hope to accomplish by earning a JD/MBA?
If you just want to practice law for your entire career, a YHS JD should have prospects just as good as any JD/MBA. If you have other ambitions, I would need to know what they are in order to evaluate which JD/MBA program would be equivalent. |