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Author Topic: I NEED HELP, Deciding on an MBA or Law Degree  (Read 3279 times)

clerk

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Re: I NEED HELP, Deciding on an MBA or Law Degree
« Reply #10 on: April 14, 2009, 04:37:02 AM »
Cheaper and easier to get an MBA.
Takes less time too.
If you don't want to practice, why go to law school?  You can make just as good a living going to a good b-school and save yourself a lot of headaches and torture.
My ex went to b-school.  She would talk about the things she was learning and the only thing that I wasn't comfortable is the math.  Which is why many of us go to law school.  Math.


--------------------
Let me go ahead and rewrite the above post if you don't mind.  Sorry it just doesn't sound right, not trying to be condescending.

Obtaining an MBA is cheaper, easier, and takes less time.  If you don't want to practice law, why go to law school?  A person with an MBA can make as good of a living as a person who has a law degree.  Save yourself a lot of headaches and torture and get an MBA. My ex went to a B-school and would talk to me about the things she was learning.  The only thing I wasn't comfortable hearing about was the math involved. Not being comfortable with math is why many lawyers go to law school.

nsync

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Re: I NEED HELP, Deciding on an MBA or Law Degree
« Reply #11 on: April 14, 2009, 05:31:39 AM »
[color=green}


I have an option to attend Southwestern School of Law, I'm a Junior in College, and They are allowing me to start on a 3 year plan, that would give me my BA,MA & J.D. in negotiation, conflict resolution & peace keeping.I'm currently declared as a business major, I'd personally like to major in Economics or Entreprenuership/Finance.

[snip]

MBA, It would be my Safest thing I can do to double or tripple my income.

Do any of you guy's regret going to law school. I've heard some friends say they wish they Would Have attended business school instead, too much debt vs. little pay. Let's face it. 60K starting is crappy.

Any Ideas, Please Share.


Thanks. 


Please provide further details on your age, work experience, etc..  What i read is you haven't completed undergrad, don't have substantial work experience, and Southwestern is offering 3 degrees in 3 years?  The other option is to finish your BA and then a MBA with little work experience?

What will your debt be at the end of 3 years?  i believe if the debt will be under $60k, you should do the 3 degree law option and consider getting an executive mba later in life (late 30s, early 40s). 

nsync

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Re: I NEED HELP, Deciding on an MBA or Law Degree
« Reply #12 on: April 14, 2009, 05:40:18 AM »
[color=green}

I'm having problems deciding on what would best for my future. As an attorney; selling businesses & commercial properties, how can a law degree help me to increase my strategic way of operating and running my own business, while mainting profitability.    

One of the things I like about becoming an attorney, is that I'll know the law. The Cons, is that I don't want to work as an associate for anyone if and when I do graduate; and be dragged to a 40 hour job, that will turn to 60-80 hours a week.

MBA, It would be my Safest thing I can do to double or tripple my income.

Do any of you guy's regret going to law school. I've heard some friends say they wish they Would Have attended business school instead, too much debt vs. little pay. Let's face it. 60K starting is crappy.

Any Ideas, Please Share.


Thanks. 

it's early and didn't read the entire post.

if this is the criteria, get the MBA. a JD will teach you to be risk adverse, not entrepreneurial.  furthermore income for a JD is a linear exponentially decaying function.  ( $$$ = billing rate * billable hours).  income for a business owner is geometric ( $$$ = power (rate * hours, # of employees).  with a mba you're better off focusing on the core management elements of a business, and hiring *experienced* consultants to advise on the peripheral legal elements.



k0em9u

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Re: I NEED HELP, Deciding on an MBA or Law Degree
« Reply #13 on: April 14, 2009, 06:30:51 PM »
A JD will not teach you to be risk averse. A JD will teach you about the law. Whether you are risk averse or not has nothing to do with your education, it has to do with your personality.
Sue me female dog, I know a lawyer.

Denny Shore

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Re: I NEED HELP, Deciding on an MBA or Law Degree
« Reply #14 on: April 14, 2009, 06:47:21 PM »
Cheaper and easier to get an MBA.
Takes less time too.
If you don't want to practice, why go to law school?  You can make just as good a living going to a good b-school and save yourself a lot of headaches and torture.
My ex went to b-school.  She would talk about the things she was learning and the only thing that I wasn't comfortable is the math.  Which is why many of us go to law school.  Math.


--------------------
Let me go ahead and rewrite the above post if you don't mind.  Sorry it just doesn't sound right, not trying to be condescending.

Obtaining an MBA is cheaper, easier, and takes less time.  If you don't want to practice law, why go to law school?  A person with an MBA can make as good of a living as a person who has a law degree.  Save yourself a lot of headaches and torture and get an MBA. My ex went to a B-school and would talk to me about the things she was learning.  The only thing I wasn't comfortable hearing about was the math involved. Not being comfortable with math is why many lawyers go to law school.


Truth is, you can feel free to rewrite whatever you want.  It doesn't bother me at all.  8)

Laythesmack23

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Re: I NEED HELP, Deciding on an MBA or Law Degree
« Reply #15 on: April 30, 2009, 07:51:33 PM »
"MBA, It would be my Safest thing I can do to double or tripple my income."

So not true.  My fiance has an MBA and he said it was the biggest waste of money of his life.

Interesting, thanks for the feedback.

Laythesmack23

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Re: I NEED HELP, Deciding on an MBA or Law Degree
« Reply #16 on: April 30, 2009, 08:04:35 PM »
i hope this was a typo --> "heard some friends say they wish they would of attened business school instead"

Would HAVE

sorry but this is one of my pet peeves

Don't forget to mention the random capitalization, misspellings, and improper use of commas and semicolons.

Man, If you seriously sit here, on a blog, when people are asking true life carreer changing decisions, and all you can
is critize them on the mispels; you 1. need a life, law school is not for you, and it's turning you into a bitter son of a female dog, 2. you have no life, oppose to sit on the internet and critize other students that have 2 years less education than you do, still leads to point number 1 and being a bitter SOB, because your in law school. or 3 you must have a small male private part, and must try to compensate with trying to read everything as it were a letter of intent.

-If I were an attorney, I'd sue you for your UGLYNESS;
-Id Take you to the cleaner's
-I'd buy you a dictionary' random's or webster's; whatever can help you through out the day between the BIG MAC, and LEGAL RESEARCH; to correct other incomptent writers like myself
-Also, when you leave this so-called "social status" of being in law school, and get yourself a bad job, picking up coffee for the partners everyday, as a f-ing male secreatry or "paralegal" wait until it's your turn, and everything you do will be *&^% to the eyes of your colleages.

START WITH HAVING INTERPERSONAL SKILLS....SO THAT WAY YOUR WIFE WON'T BE f-ing A HISPANIC ON THE SIDE OR SOME BLACK GUY ON THE SIDE! OH I HOPE YOU FALL DOWN THE STAIRS, and Choke on a chicken bone. GO Read other post, or better yet correct this one... I'm sure you'll be tempted to anyway. 

If I do become an Attorney, I'll email you and let you know! Suck it easy.

Laythesmack23

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Re: I NEED HELP, Deciding on an MBA or Law Degree
« Reply #17 on: April 30, 2009, 08:07:23 PM »
A few points to keep in mind. The employment rates for MBAs are lower than for JDs (that is for an average year, not talking about this year of doom for banks which makes it even worse for MBA grads). Starting salaries are lower for MBAs than JDs.

The one caveat MBA people have had, is the fairly insane pay increase scale that investment banks offered. Investment banks do not exist anymore, they 100% certainly will not in the next 8 years, and I would be very surprised to see this model of "banking" ever returning. The current downfall has simply shown too many of the faults and risks.

I was in commercial real-estate for about ten years, mostly large multifamily residential or commercial properties, sales, leases, and property management. I did it all with just a real estate license. I donít really see how the JD would help you much, even now as a law student in my final year I would not try to do the legal parts of any of these deals, I donít have the expertise or want the liability. The MBA may teach you more about how to run your own business, especially if they have a real-estatean  focus. But to be good at commercial real estate you only need three things: contacts, salesmanship, and in-depth knowledge of the market, all of which can be done without any degree.

Just one thing I do wonder about here. By being in real estate, do you mean as a realtor/agent? If that is the case, I would agree, a JD will not offer anything substantial. I guess it adds some weight to your resume that might be worth it if you end up as a high end broker for some very fancy firm, but in general terms, I agree with Matthies, little value.

However, if you are looking more into the real estate entrepreneur, investor, developer, owner side I would absolutely feel like a JD would be very important. This is where I spent my pre-law career, and while a lot of the skills needed here are sort of the "innate business savvy", a strong command of the law and making contracts would be very valuable. That being said, this is a "career" that you either need to have some serious starting capital or a very long term perspective to.
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This is the stuff I was looking for. Contract's are extremely important in any type of investment, you understand what I'm looking for. Thanks for your honesty. I really appreciate it.

wdd81

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Re: I NEED HELP, Deciding on an MBA or Law Degree
« Reply #18 on: May 01, 2009, 10:40:25 AM »
I would have to agree with those who have said only go to law school if you want to practice law. Just because you can go to law school doesn't mean that you should go to law school.

GG

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Re: I NEED HELP, Deciding on an MBA or Law Degree
« Reply #19 on: May 13, 2009, 08:11:48 AM »
I agree with the consensus too: (i) only go to law school if you want to practice law, and (ii) do a proper costs/return analysis. If you have already an established business or profession, it may be more profitable for you to focus your energies on progressing in your existing line of business (and perhaps setting up on your own) than go back to school hoping to get a higer paying job at a later date. But whatever you decide to do, be determined and you will succeed!
All the best,
Giuseppe
Attorney and author of Soft Skills for Lawyers (www.chelseapublishing.com) :)