Law School Discussion

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Topics - jdmba2007

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1
General Board / JD/MBA benefit analysis
« on: July 17, 2005, 01:14:11 PM »
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):
www.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.

p.s. Most law schools will allow you to apply to the MBA program during your first year of law school.

2
General Board / Fall 2005 Schedule
« on: July 07, 2005, 01:16:24 AM »
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.

3
I am loving it so far and really learning quite a bit.  I do feel a little inefficient however at times while doing my research. There are only a few 1L's at the firm and the rest are 2L's who tend to have a little more research experience. The feedback I have gotten so far has been positive so I am happy about that.  Most of the attorneys seem approachable and friendly.

4
Thanks to a recent rule change at the Department of Education you can now consolidate your federal loans while still in school. Rates are about to rise by 1.93%. The deadline for consolidation is June 30th:

http://jdmba2b.blogspot.com/2005/05/important-news-for-those-with-federal.html

Many of you could save quite a bit by consolidating now.

5
General Board / 1L Summer Clerkship
« on: May 30, 2005, 12:49:20 AM »
Have most of you started working already? I am starting Tuesday. For those of you that have already started how is it going? How does the work given to you differ at all in difficulty and or quantity to the work given to 2L's at your firm?

6
General Board / Value of JD/MBA degree
« on: May 14, 2005, 06:44:04 PM »
Is a JD/MBA worth it?  It seems many tops firms are now offering bonuses and or 2nd year associate status to JD/MBA graduates. This has been common for quite a while for judicial clerks:

http://www0.gsb.columbia.edu/students/organizations/ddsa/jdmbasur.htm

Other advantages may be increased flexibility (exit options) and increased credibility (with client, etc)

Drawbacks include the cost of another year of school and salary foregone

Opinions?

7
General Board / Done with 1L!
« on: May 13, 2005, 05:01:31 PM »
Rising 2L's... Do you feel like you are a third of the way to being an attorney? Honestly I still feel like I do not know that much. I am a little scared about starting my job as a summer clerk in a few weeks, particularly since there will be very few other 1L's at the firm. Hopefully I am actually better prepared than I feel.

I do feel great about being done with my first year however! I have been celebrating for 2 days straight. I plan on going out once more tonight for some 3L graduation parties before getting started on my law review packet tomorrow.

8
General Board / 1L's Where will you work this summer?
« on: March 31, 2005, 11:06:05 AM »
Law Firm?
Judicial Clerkship?
School Clinic?
Attorney General Office?
US Attorney Office?

9
General Board / Martha Steward Released From Prison!
« on: March 04, 2005, 02:29:00 AM »
Any opinions? Any Martha Steward Omnimedia Shareholders on this board?

Should the SEC allow her to take over management for her old company again?

10
It was a close vote:
5-4

I am happy about the decision! Anyone disagree?

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