CPA looking at JD/MBA programs for Bankruptcy/Restructuring

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jckund
Posts: 7
Joined: Mon Dec 16, 2013 11:52 pm

CPA looking at JD/MBA programs for Bankruptcy/Restructuring

Postby jckund » Mon Dec 16, 2013 11:56 pm

Hi everyone, I know the topic of JD/MBA programs has come up before, but I figured my situation was a bit more unique. I already have my CPA and some work experience at a Big 4 Transaction Services (M&A Valuation) group. My end goal though is restructuring/bankruptcy and this is one of the unique industries where I think both accounting/business knowledge and law knowledge would be useful.

Obviously not getting into a top program would mean it probably isn't worth the cost incurred, but I'm wondering if this move makes sense given the value both would add in such a job. Or since I already have a CPA and some business experience, would it make more economic sense to just go for the JD?

Any advice would be much appreciated.

Thanks!

bp shinners
Posts: 3091
Joined: Wed Mar 16, 2011 7:05 pm

Re: CPA looking at JD/MBA programs for Bankruptcy/Restructuring

Postby bp shinners » Tue Dec 17, 2013 11:31 am

jckund wrote:Hi everyone, I know the topic of JD/MBA programs has come up before, but I figured my situation was a bit more unique. I already have my CPA and some work experience at a Big 4 Transaction Services (M&A Valuation) group. My end goal though is restructuring/bankruptcy and this is one of the unique industries where I think both accounting/business knowledge and law knowledge would be useful.

Obviously not getting into a top program would mean it probably isn't worth the cost incurred, but I'm wondering if this move makes sense given the value both would add in such a job. Or since I already have a CPA and some business experience, would it make more economic sense to just go for the JD?

Any advice would be much appreciated.

Thanks!


I know very little about those worlds. But the best advice I can give you is check the resume of some people who have the job you want. What degrees do they have?

It's not determinative, but it can help guide you as to how others got to where you want to be. My gut, though, is that the cost incurred won't be worth the benefit of having the degrees. Law school is mainly so you can get admitted to the bar and give legal advice; it doesn't sound like that's really what you want to do. If you just want to learn law surrounding these areas, you're probably better off with an MBA and cross-registering in some law classes.

But, again, I don't know a lot about these areas. Everyone I know who did the JD/MBA, though, either ended up as a corporate transactions attorney (and didn't use the MBA - and I know plenty of others who ended up at the same places without the MBA) or as a hedge fund guy.

sup_stan
Posts: 93
Joined: Tue Dec 10, 2013 3:08 am

Re: CPA looking at JD/MBA programs for Bankruptcy/Restructuring

Postby sup_stan » Tue Dec 17, 2013 2:17 pm

jckund wrote:Hi everyone, I know the topic of JD/MBA programs has come up before, but I figured my situation was a bit more unique. I already have my CPA and some work experience at a Big 4 Transaction Services (M&A Valuation) group. My end goal though is restructuring/bankruptcy and this is one of the unique industries where I think both accounting/business knowledge and law knowledge would be useful.

Obviously not getting into a top program would mean it probably isn't worth the cost incurred, but I'm wondering if this move makes sense given the value both would add in such a job. Or since I already have a CPA and some business experience, would it make more economic sense to just go for the JD?

Any advice would be much appreciated.

Thanks!



Fellow big 4 valuation folk here, currently a first year senior. I am also a CPA/completed all parts of CFA. Did not want the MBA because it is one more year of time and tuition, plus with CPA, CFA, a business undergrad and an MS finance, I really don't think I can still learn much from the MBA. My strategy is simple, apply to only the top law schools where non-legal careers such as ibanking/restructuring banking are possible after graduation. I have seen some HLS and CLS people go directly into ibanking/restructuring (lazard, blackstone) or consulting after law school based on a brief linkedin research, but they all have some relevant experience before LS. A legal/BigLaw career will still be something I want, but I like the options to pursue other careers if I change my mind.

jckund
Posts: 7
Joined: Mon Dec 16, 2013 11:52 pm

Re: CPA looking at JD/MBA programs for Bankruptcy/Restructuring

Postby jckund » Tue Dec 17, 2013 2:34 pm

sup_stan wrote:
jckund wrote:Hi everyone, I know the topic of JD/MBA programs has come up before, but I figured my situation was a bit more unique. I already have my CPA and some work experience at a Big 4 Transaction Services (M&A Valuation) group. My end goal though is restructuring/bankruptcy and this is one of the unique industries where I think both accounting/business knowledge and law knowledge would be useful.

Obviously not getting into a top program would mean it probably isn't worth the cost incurred, but I'm wondering if this move makes sense given the value both would add in such a job. Or since I already have a CPA and some business experience, would it make more economic sense to just go for the JD?

Any advice would be much appreciated.

Thanks!



Fellow big 4 valuation folk here, currently a first year senior. I am also a CPA/completed all parts of CFA. Did not want the MBA because it is one more year of time and tuition, plus with CPA, CFA, a business undergrad and an MS finance, I really don't think I can still learn much from the MBA. My strategy is simple, apply to only the top law schools where non-legal careers such as ibanking/restructuring banking are possible after graduation. I have seen some HLS and CLS people go directly into ibanking/restructuring (lazard, blackstone) or consulting after law school based on a brief linkedin research, but they all have some relevant experience before LS. A legal/BigLaw career will still be something I want, but I like the options to pursue other careers if I change my mind.


Yeah good to see someone in the same boat! I'm not really looking at the CFA just because I don't think it's the best use of my time/has application in BK/Rx. But definitely thinking about MBA only as a career change type option/I think it could tie in well with a JD. Obviously with more of a business background the MBA wouldn't serve a purpose in terms of learning things, I just think it's a resume builder and an opportunity to network and get a new job. So you're looking at law school but not looking to become a lawyer? What sort of jobs are you looking at after LS?

sup_stan
Posts: 93
Joined: Tue Dec 10, 2013 3:08 am

Re: CPA looking at JD/MBA programs for Bankruptcy/Restructuring

Postby sup_stan » Tue Dec 17, 2013 2:47 pm

jckund wrote:
sup_stan wrote:
jckund wrote:Hi everyone, I know the topic of JD/MBA programs has come up before, but I figured my situation was a bit more unique. I already have my CPA and some work experience at a Big 4 Transaction Services (M&A Valuation) group. My end goal though is restructuring/bankruptcy and this is one of the unique industries where I think both accounting/business knowledge and law knowledge would be useful.

Obviously not getting into a top program would mean it probably isn't worth the cost incurred, but I'm wondering if this move makes sense given the value both would add in such a job. Or since I already have a CPA and some business experience, would it make more economic sense to just go for the JD?

Any advice would be much appreciated.

Thanks!



Fellow big 4 valuation folk here, currently a first year senior. I am also a CPA/completed all parts of CFA. Did not want the MBA because it is one more year of time and tuition, plus with CPA, CFA, a business undergrad and an MS finance, I really don't think I can still learn much from the MBA. My strategy is simple, apply to only the top law schools where non-legal careers such as ibanking/restructuring banking are possible after graduation. I have seen some HLS and CLS people go directly into ibanking/restructuring (lazard, blackstone) or consulting after law school based on a brief linkedin research, but they all have some relevant experience before LS. A legal/BigLaw career will still be something I want, but I like the options to pursue other careers if I change my mind.


Yeah good to see someone in the same boat! I'm not really looking at the CFA just because I don't think it's the best use of my time/has application in BK/Rx. But definitely thinking about MBA only as a career change type option/I think it could tie in well with a JD. Obviously with more of a business background the MBA wouldn't serve a purpose in terms of learning things, I just think it's a resume builder and an opportunity to network and get a new job. So you're looking at law school but not looking to become a lawyer? What sort of jobs are you looking at after LS?



Like I said, biglaw will still be something I want, but I like the flexibility in terms of career choices at top schools, because I can very well imagine scenarios where I may change my mind and pursue a different career. If the economy is good then I may go into M&A/security law or directly into BB ibanking M&A. If the economy is in the crapper again then bankruptcy/restructuring law or restructuring department in places like lazard. I think these are possible with my experience if I can manage to get in HLS-type schools. HLS-type places should offer networking/OCR opportunities similar or only slightly worse than top tiered MBA, so I personally don't feel the necessity to add the MBA for networking purposes. But at the end of the day, what I will end up doing will depend on what opportunities I can seize on in LS. But I can see an MBA making sense for you if money is not a concern. Penn JD/MBA and Northwestern JD/MBA both take only three years, and the latter only requires GMAT. I would definitely look into them if I were you. Penn JD/MBA in particular strikes me as a very good investment. I don't apply to these two because I can't stand one more year of business school.




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