imchuckbass58 wrote:lawprospie wrote:I'm really interested in seeing where this thread goes.
I'm applying to law school this year, but was accepted to b-school as a senior in college (think along the lines of 2+2). I'm applying to law school this year and if I can get into the law school I'm strongly considering doing the JD/MBA. I'm in my first year of management consulting, but not really loving it and would rather go to law school; however I worked my butt off to get in and the idea of a JD/MBA sounds crazy cool.
It really depends what you want to do. If you want to do a business job, just forget about the JD, get an MBA, be set, and save yourself loads of money and time.
If you want to practice law, you have to think long and hard about whether the extra year (and time, assuming you're doing a 4-year), is worth it. I think there are two circumstances where it's useful to get a JD/MBA even though you're coming in thinking you'll practice law:
-You're very uncertain about whether you actually want to practice law and want the optionality (even this isn't a great reason - it's much cheaper and easier to just decide what you want to do and save yourself the trouble)
-You value the academic experience / interdisciplinary perspective / nebulous long-term benefits / dual networks so much that you're willing to pay that much extra to get them.
Basically, what I'm trying to say is a JD/MBA is never worth it vs. either degree individually from a short-term ROI perspective. You're not going to make more money because you're a JD/MBA early in your career. So the only way to really justify it is (1) if you'll value the experience itself, (2) if it has value because it gives you optionality, or (3) if you think there are long term benefits (network, dual perspective, etc.) that will help you further along in your career. I personally think the last one is the case, at least for me, but it's a very hard thing to measure definitively.
Whatever you do, don't do a JD/MBA just because you're already into both schools. Sunk cost fallacy (or sunk benefit, in this case) - do the best thing for you regardless of your present situation.
1. You might actually be attending the school, I'm considering doing the JD/MBA (CCN as well)
2. I definitely agree with your points. It's a huge struggle for me. A part of me is telling myself I only want the JD/MBA because I'm prestige conscious. I don't come from a highly educated familal background and I'm an AA male. Thus, my pursuit for a JD/MBA might be me overcompensating. Also, the idea of having 3 degrees from 1 really great university is pretty sweet.
P.S. My friends think I'm crazy. They are all like "Why the hell would you give up a gig in consulting with a seat at a M7 school for the crappiness that is law school / the legal profession?"
-- I feel like they don't quite understand and honestly, I'm sure there's a lot fo consultants/i-bankers in top law schools who could have went to a good b-school
3. I know I definitely want the JD and that I'm interested in the intersection of business and law.
I know this all comes down to a personal choice, but what are you thoughts for those who do the JD/MBA with only 1 year of work experience?
(FYI, I can keep my spot at the b-school with 1 year of w.e....my 1L would replace the second year of the required 2)