JD/MBA

[dlat7]

I'm a 30 yr-old banker in the Chicago area.  I've had my MBA (from a school different from the one for which I would be attending law school) for the past two years and am a Level II CFA candidate.  I recently found out that due to my father's status as a Vietnam vet, I can attend any public university for free, undergrad or grad.  Knowing this, I've done some soul searching and cost-benefit analyses and have decided that I cannot pass this opportunity.

Given my current occupation (some of my clients are attorneys), I know the job market is soft.  My questions for those that have attended LS and are now working are such:  what types of practice will be ideal for me to leverage the experience and education that I already have?  Additionally, will my previous experience even be relevant when looking for employment post-LS?

Any input is gladly appreciated.

D

[justanothersucker]

If you can go for free, go for it. I find it odd that they care if your dad was a war vet though. I'm not opposed to someone giving my kid free college, I just don't see how pooing in their pants while I served helped anyone unless the photo of them in a bible blocked a bullet or something. Just my opinion. -That being said, heck yeah get the degree. Why not?

[wjo9522]

I think what the OP is referring to is the Illinois Veteran's Grant (unless I'm mistaken).  I'm banking on using that to fund my LS education after 22 years of active service, but I fail to see why a Vietnam Veteran's child would rate to use this.  With all due respect, I'm curious which program the OP is referring to. 

Please advise.

[dlat7]

Its the MIA-POW scholarship, for children/spouses of Illinois veterans that were declared MIA or KIA in Vietnam, disabled 100% as a result of a service-connected disabitliy, or died as a result of a service-connected disability.  It covers eligible tuition and fees at state institutions for undergrad and grad coursework.

[wjo9522]

Thanks for the clarification and I apologize if I seemed a bit callous in my reply.  I assume you are applying to UIUC?

You should honor your father and his service by utilizing this benefit to the maximum extent possible. 

Good luck to you. 

[DaRaiders]

I'm a 30 yr-old banker in the Chicago area.  I've had my MBA (from a school different from the one for which I would be attending law school) for the past two years and am a Level II CFA candidate.  I recently found out that due to my father's status as a Vietnam vet, I can attend any public university for free, undergrad or grad.  Knowing this, I've done some soul searching and cost-benefit analyses and have decided that I cannot pass this opportunity.

Given my current occupation (some of my clients are attorneys), I know the job market is soft.  My questions for those that have attended LS and are now working are such:  what types of practice will be ideal for me to leverage the experience and education that I already have?  Additionally, will my previous experience even be relevant when looking for employment post-LS?

Any input is gladly appreciated.

D

Are you a banker (as in commercial banking) or in an investment banking sense?

[dlat7]

UIUC & NIU are the only state law schools within a reasonable distance of the Chicagoland area.  My obvious preference is UIUC.

I'm in private wealth management.  My thoughts are that with my background, I can join a firm that specializaes in estates & trusts, or use the degree to pursue a more specialized role within my current industry.

The intent of my post was to discover if anyone had any experiences with a JD/MBA and types of employment after graduating, within either the legal or business communities.

[DaRaiders]

For starters, having a business related degree in addition to a JD isn’t going to magically open doors. What it does is separate you from others, particularly if you have work experience. If you want to practice at a firm, it still boils down to grades/class rank and, depending on the firm, which school you went to. However, your experience in financial services coupled with a good academic record in law school would put you in a good position. You can position yourself as someone who knows (1) how the business world works in general, (2) has an understanding of financial markets and securities and (2) can professional handle clients, along with any other strengths you view yourself as having.

Regarding areas of focus, estates & trust work is a good fit, but from a legal perspective would involve more tax, wills and trust work rather than investment selection. Also don’t overlook compliance work. For wealth management, this would involve areas such as AML/KYC and the various securities laws that play a role in that area. I had a classmate who now is a regional compliance manager for a global investment bank. She has an MBA in addition to her JD. This is also a potential way to move in house where you are at, as a lawyer.

The CFA track would also be beneficial in private equity and M&A. Having an understanding of valuations, its impact on financial statements and how impacts the dynamics of the deal go a long way in this area. The key in this area is having an understanding of the economics of the deal. Only then can you accurately assess the legal ramifications that the deal will entail. A CFA track would also be beneficial in capital markets work because of the basic knowledge of financial instruments you would have gained. Depending on whether you at a firm or in house, this would involve a lot of ’33 act work and other regulations such as Reg M. 

Finally, if you do pursue a JD begin networking with those layers you interact with. They may provide a door to future employment.