I recommend you take a look at this link:
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Messages - jdmba2007
I recommend you take a look at this link:
If you want to do a JD/MBA I recommend you do it now instead of waiting until you finish law school. During my interview process for 1L summer associate positions I was always asked why an MBA? I think many law firms will question your desire to practice law as a career if you do a MBA. I have been able to overcome this argument based upon the concept that a better knowledge of the business world making it easier for me to understand the needs of clients. If you do an MBA after law school instead of before law school of a JD/MBA program you will have a much harder time selling yourself to law firms.
In my opinion in the legal field the value of an MBA depends on the type of work you want to do. In finance (securities law, M&A, etc) it may be more valuable because your clients (investment bankers, etc) will appreciate your superior financial acumen. For legal employers such as the SEC, etc it may also be a plus. For finance the optimal professional designation may be CFA (which I am studying for) and an MBA does not mean a whole lot unless it comes from a top b school.
For criminal or family law an MBA may not be worth much.
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):
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.
p.s. Most law schools will allow you to apply to the MBA program during your first year of law school.
I would like to take a large 18 credit course load this fall so that I can relax as a 3L and perhaps study abroad for a semester. Is 18 credits way too much with the busy 2L fall OCI schedule? I do feel like my course load would be reasonable for me since I will be familiar with much of the business related material for many of my electives.
« on: June 20, 2005, 11:55:59 PM »
Does anyone else have any questions I can answer about this topic? Time is running out. Here are some good links on the issue:
« on: June 19, 2005, 12:44:58 PM »
« on: June 19, 2005, 12:40:50 PM »
Time is running out to consolidate... You only have until the end of this month
« on: June 15, 2005, 11:40:53 PM »
You can never "completely count on" a deferment or forbearance. It is based on the invidual circumstances. However you could apply for a bar loan if you are really broke at the time. Many large law firms will also help you out financially during this period.
« on: June 15, 2005, 12:08:47 AM »
I found these Georgetown links on the subject today...
I think they are informative