what do you find is the adv. of doing the jdmba? or what have you heard from your classmates is?
My impression of the advantages are as follows:
-It gives you options: If you are not 100% sure whether you want to do law or business, you have the flexibility to do both credibly. I would add, however, that you should never, ever, say this on your app, since it will make you an auto-ding.
-If you go to an elite program, it distinguishes you: Correctly or not, there's a perception that if you've gone through two very selective vetting processes with different focuses, you're even more qualified. Also, from what I've been told, certain firms love JD/MBAs since their biggest complaint from clients is that their lawyers do not understand their business concerns. Management consulting firms also love elite JD/MBAs. Of course, this is not universally true (see below).
-It's helpful for moving in-house: You have a lot more credibility moving in-house if you can demonstrate business competency. In-house positions are more heavily influence by business concerns. Obviously, an MBA is not necessary (most in-house lawyers do not have MBAs), but it is one way of signifying you have this knowledge.
-It's a different type of learning experience: Law school is very academic and solitary (in terms of your work at least). Business school is very practical and collaborative. I like the latter learning experience, and I find business inherently interesting. Lots of people say business school is also a lot more fun than law school socially.
-There are a few jobs out there where a JD/MBA, while not necessary, is a big boost in terms of the practical knowledge you need to do the job. Examples include certain types of real estate functions, bankruptcy work (either bankruptcy law, turnaround consulting, or distressed investing), and securities law.
There are, however, several disadvantages I'd point out:
-It's long and expensive: You will be spending an extra year in school, during which not only will you not be making $160,000 (assuming you would be working at a big firm), but you will be paying $50,000 to be in school. Many people perceive that this alone negates any of the benefits I listed above (obviously I disagree, but it's a reasonable perspective).
-It pigeonholes you: A JD/MBA is mostly helpful for transactional practices, and can actually be a turnoff for litigation (unless it's securities or antitrust litigation), since the skill set really isn't helpful in that context and makes people question your interest. Forget about public interest.
-It can turn off some employers: Aside from PI orgs and litigation practices, even some big firms do not like JD/MBAs because they are perceived as a flight risk. This was more accentuated during the boom, where huge percentages of transactional lawyers at top firms (Cravath, Wachtell, S&C) moved to investment banks or PE shops to make twice what they could at a firm. Still, I think employers in this category are in the distinct minority (among big firms).
Really there is no right or wrong, it really depends on your personal situation. If you are independently wealthy, that really removes the biggest downside of doing a JD/MBA and you should probably go for it. If you want to be an appellate litigator, I would seriously question whether a JD/MBA was the right choice. Think through your goals and inclinations with these dynamics in mind.