Should I Do Law School or Finish my CPA?

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TaxCPAorJD?

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Should I Do Law School or Finish my CPA?

Postby TaxCPAorJD? » Sun Jun 10, 2018 12:54 am

I am new here so please be kind if possible.

I have two career choices I'd like your input on:

Here is my scenario. I have an accounting background, just finished a bachelors in accounting from a good school. (University of Denver, the accounting school is good at least). I have a job offer from one of the big 4 accounting firms to work as a tax associate. I need a few more credits on my masters and I need to pass the cpa exams as well. I am in the midst of studying. This is option A for me.

There is also option B:

My father runs a small, but successful law firm that specializes in real estate tax law in North Jersey. He has offered to pay for my law school and start me off at $100,000 per year upon graduating and passing the bar if I come work for him.

The big 4 accounting job is offering $56,000 starting salary and a bonus for passing the CPA.

My grades are not terrible but not terrific.

My undergraduate GPA is 3.33

I have not yet taken the LSAT, but I would like to take it to see if I can get decent enough score to attend a worthwhile law school.

Another unique fact is that I am 29 years old.

Given my unique circumstances, should I give law school a shot? I am somewhat burnt out on accounting. I understand fully that the grind and hours are just as hard if not harder for lawyers than for accountants.

What would you do if you were in my shoes?

If I choose law school, I would have zero debt and a guaranteed job; but I would have to work for my father at a small firm. I would likely inherit the firm upon his retirement.

Tough choice. Fire away!

dabigchina

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Re: Should I Do Law School or Finish my CPA?

Postby dabigchina » Mon Jun 11, 2018 9:20 pm

Former CPA here. If you hate tax accounting now, wait until you actually start doing it for real.

This might be one of the few scenarios where law school is a really good idea. Study for the LSAT and shoot for NYU.

Im not sure why inheriting the firm wasn't plan A all along, to be perfectly honest.

Synapse2018

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Re: Should I Do Law School or Finish my CPA?

Postby Synapse2018 » Tue Jun 12, 2018 9:58 pm

dabigchina wrote:Former CPA here. If you hate tax accounting now, wait until you actually start doing it for real.

This might be one of the few scenarios where law school is a really good idea. Study for the LSAT and shoot for NYU.

Im not sure why inheriting the firm wasn't plan A all along, to be perfectly honest.


Isn’t 3.33 on the lower side for NYU? The lower 25% is 3.66 for last cycle

dabigchina

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Re: Should I Do Law School or Finish my CPA?

Postby dabigchina » Wed Jun 13, 2018 2:15 pm

Synapse2018 wrote:
dabigchina wrote:Former CPA here. If you hate tax accounting now, wait until you actually start doing it for real.

This might be one of the few scenarios where law school is a really good idea. Study for the LSAT and shoot for NYU.

Im not sure why inheriting the firm wasn't plan A all along, to be perfectly honest.


Isn’t 3.33 on the lower side for NYU? The lower 25% is 3.66 for last cycle

That's why he/she should get 173+ on the LSAT

TaxCPAorJD?

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Re: Should I Do Law School or Finish my CPA?

Postby TaxCPAorJD? » Wed Jun 20, 2018 5:26 pm

Thanks for the insight. I am going to keep exploring the process. NYU seems like a reach but I will shoot for it.

uncle_rico

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Re: Should I Do Law School or Finish my CPA?

Postby uncle_rico » Thu Jun 21, 2018 11:26 am

Here's my insight as someone who turned down a return offer from Big 4 to go to law school. I'd really recommend taking time off between undergrad and law school, as well as getting your cpa. I think it will bolster your resume and it will help you consider more whether you want to go to law school aside from the fact that your dad wants you to go. A CPA/JD may also be valuable given how rare the combination is.

As far as selecting schools, you'll see the typical elitist pressure on TLS encouraging "T14 or bust", but given the fact that your dad will be supporting you and offering you a job then maybe some non-T14 schools may be viable options for you. You should still consider pursuing big law unless you would hate the culture, but you won't have to deal with the pressure of having loans over your head at least. One issue that you might want to keep in mind is that it seems that your dad is trying to hand off his firm to you. If this is the case, and the firm is presumably a small firm, you will have the pressure of bringing in business which some people just aren't good at or comfortable with. I think that's something that should be kept in mind when looking towards the future.



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