Which firms pay extra for MBA?

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Anonymous User
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Which firms pay extra for MBA?

Postby Anonymous User » Mon Mar 12, 2012 9:54 pm

Which firms Pay extra for an MBA? How much?
Which ones pay second year scale?
Is that just for one year, or permanently?

LawIdiot86
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Re: Which firms pay extra for MBA?

Postby LawIdiot86 » Mon Mar 12, 2012 11:09 pm

Anonymous User wrote:Which firms Pay extra for an MBA? How much?
Which ones pay second year scale?
Is that just for one year, or permanently?


I will have an MBA, CPA, and LLM and in all my recruiting travels I have never heard of a firm giving credit or extra pay for any of those credentials short of PhD or Tax LLM (very rare still) or patent bar (also very rare).

lsatcrazy
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Re: Which firms pay extra for MBA?

Postby lsatcrazy » Mon Mar 12, 2012 11:19 pm

Not sure about salaries, though I have heard rumors of such deals. I do know that certain firms do seem to express some hiring interest though.

Morgan12Oak
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Re: Which firms pay extra for MBA?

Postby Morgan12Oak » Mon Mar 12, 2012 11:47 pm

Paul Hastings and Goodwin Proctor pay a 20k bonus to JD/MBA

ran12
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Re: Which firms pay extra for MBA?

Postby ran12 » Mon Mar 12, 2012 11:48 pm

Firms that pay extra for a MBA usually give a MBA sign on bonus in the 20k range in addition to the first year salary. I don't remember which firms do this but I was interested in this a few years ago and seemed like that's the norm.

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mountaintime
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Re: Which firms pay extra for MBA?

Postby mountaintime » Tue Mar 13, 2012 10:54 pm

LawIdiot86 wrote:
Anonymous User wrote:Which firms Pay extra for an MBA? How much?
Which ones pay second year scale?
Is that just for one year, or permanently?

what is your LLM in? i would think that you'd go tax if you have an MBA.
I will have an MBA, CPA, and LLM and in all my recruiting travels I have never heard of a firm giving credit or extra pay for any of those credentials short of PhD or Tax LLM (very rare still) or patent bar (also very rare).


edit: don't know why my text didn't show up. i take it you have a tax llm? that's a ton of degrees. are firms still hiring tax llms?
Last edited by mountaintime on Wed Mar 14, 2012 1:32 pm, edited 1 time in total.

Morgan12Oak
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Re: Which firms pay extra for MBA?

Postby Morgan12Oak » Tue Mar 13, 2012 11:02 pm

Not sure why you are quoting that, because as earlier mentioned, its wrong. Some, though only a few, do pay extra for a JD/MBA.

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NoleinNY
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Re: Which firms pay extra for MBA?

Postby NoleinNY » Tue Mar 13, 2012 11:58 pm

lsatcrazy wrote:Not sure about salaries, though I have heard rumors of such deals. I do know that certain firms do seem to express some hiring interest though.


Is it just me, or did the content of that link seem condescending?

LawIdiot86
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Re: Which firms pay extra for MBA?

Postby LawIdiot86 » Tue Mar 13, 2012 11:59 pm

NoleinNY wrote:
lsatcrazy wrote:Not sure about salaries, though I have heard rumors of such deals. I do know that certain firms do seem to express some hiring interest though.


Is it just me, or did the content of that link seem condescending?


All of their HR page headers struck me that way. Not sure why they went with that theme.

ran12
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Re: Which firms pay extra for MBA?

Postby ran12 » Wed Mar 14, 2012 12:01 am

NoleinNY wrote:
lsatcrazy wrote:Not sure about salaries, though I have heard rumors of such deals. I do know that certain firms do seem to express some hiring interest though.


Is it just me, or did the content of that link seem condescending?


Maybe to people who only have a JD and are gonna be behind in the learning curve. MBA definitely helps big time in business law but it's also a flight risk factor.

bdubs
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Re: Which firms pay extra for MBA?

Postby bdubs » Sun Mar 18, 2012 8:08 pm

Several firms offer second year status to JD/MBAs from top programs. This is usually established either through a relationship with the program, or a case by case negotiation after you get an offer after your 2L SA.

A few firms listed above do have specific recruiting programs where there is a specific bonus.

CanadianWolf
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Re: Which firms pay extra for MBA?

Postby CanadianWolf » Sun Mar 18, 2012 8:58 pm

Every JD/MBA that I know well was able to negotiate an additional bonus or other compensation as a first year associate with various firms.

LawIdiot86
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Re: Which firms pay extra for MBA?

Postby LawIdiot86 » Sun Mar 18, 2012 11:00 pm

CanadianWolf wrote:Every JD/MBA that I know well was able to negotiate an additional bonus or other compensation as a first year associate with various firms.


It's ancient, but http://www0.gsb.columbia.edu/students/organizations/ddsa/jdmbasur.htm says otherwise.

CanadianWolf
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Re: Which firms pay extra for MBA?

Postby CanadianWolf » Sun Mar 18, 2012 11:17 pm

@Lawidiot86: I think that you are misreading this survey. According to my reading, the survey confirms that almost all JD/MBA hires were given second year status & pay in their first year with these biglaw firms. Seems like additional compensation to me. Am I missing something ?

LawIdiot86
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Re: Which firms pay extra for MBA?

Postby LawIdiot86 » Sun Mar 18, 2012 11:21 pm

CanadianWolf wrote:@Lawidiot86: I think that you are misreading this survey. According to my reading, the survey confirms that almost all JD/MBA hires were given second year status & pay in their first year with these biglaw firms. Seems like additional compensation to me. Am I missing something ?


Hmm, yeah. I didn't equate second year status as being as good as a bonus because it just cuts one year off the ladder of up and out, you're right that it is a perk.

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Re: Which firms pay extra for MBA?

Postby bdubs » Sun Mar 18, 2012 11:23 pm

LawIdiot86 wrote:
CanadianWolf wrote:Every JD/MBA that I know well was able to negotiate an additional bonus or other compensation as a first year associate with various firms.


It's ancient, but http://www0.gsb.columbia.edu/students/organizations/ddsa/jdmbasur.htm says otherwise.


This is outdated. Lots of firms that did negotiate scaled back after hiring took a nose dive. Several firms which did not offer advanced standing on this list now do in some cases.

I think many of the V5 either never offered, or no longer offer, advanced standing or additional bonuses for JD/MBAs.

CanadianWolf
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Re: Which firms pay extra for MBA?

Postby CanadianWolf » Sun Mar 18, 2012 11:31 pm

Of the 23 law firms that responded to the survey cited by LawIdiot86, only 5 do not confirm additional compensation to newly hired JD/MBAs. 18 of the 23 firms did give extra compensation to newly hired JD/MBAs including :

Second year status in both pay & progression at:

Brobeck
Cahill Gordon
Clifford Chance
Debevoise
Morrison Foerster
Paul Weiss
Simpson Thacher
Skadden
Sullivan & Cromwell
Weil Gotchal
White & Case

Second year status at:

Akin Gump
Cleary Gotlich
Mayers Brown & Platt
Shearman & Sterling

Morgan12Oak
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Re: Which firms pay extra for MBA?

Postby Morgan12Oak » Mon Mar 19, 2012 2:56 am

So the question is how did LawIdiot not visit any of these 18 firms during all his recruiting travels with his MBA, CPA, and LLM?

Do law firms offer these bonuses but only secretly as in you have to ask for them or what. The two don't reconcile.

de5igual
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Re: Which firms pay extra for MBA?

Postby de5igual » Mon Mar 19, 2012 3:27 am

Morgan12Oak wrote:So the question is how did LawIdiot not visit any of these 18 firms during all his recruiting travels with his MBA, CPA, and LLM?

Do law firms offer these bonuses but only secretly as in you have to ask for them or what. The two don't reconcile.


that study is old. some of the firms no longer exist.

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englawyer
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Re: Which firms pay extra for MBA?

Postby englawyer » Mon Mar 19, 2012 7:17 am

Morgan12Oak wrote:So the question is how did LawIdiot not visit any of these 18 firms during all his recruiting travels with his MBA, CPA, and LLM?

Do law firms offer these bonuses but only secretly as in you have to ask for them or what. The two don't reconcile.


JD/MBA != JD and MBA. LawIdiot seemed to imply he got the MBA before starting law school for some other reason. Firms probably won't reward this. The focus is likely on those that are doing a four year JD/MBA program.

LawIdiot86
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Re: Which firms pay extra for MBA?

Postby LawIdiot86 » Mon Mar 19, 2012 8:06 am

englawyer wrote:
Morgan12Oak wrote:So the question is how did LawIdiot not visit any of these 18 firms during all his recruiting travels with his MBA, CPA, and LLM?

Do law firms offer these bonuses but only secretly as in you have to ask for them or what. The two don't reconcile.


JD/MBA != JD and MBA. LawIdiot seemed to imply he got the MBA before starting law school for some other reason. Firms probably won't reward this. The focus is likely on those that are doing a four year JD/MBA program.


I interviewed with 7/18 and none mentioned it, nor has my CSO mentioned it. I suspect it is because of the reason englawyer mentions. Still thrilled I won the biglaw lotto, but just trying to make sure I don't leave any money on the table.

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IAFG
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Re: Which firms pay extra for MBA?

Postby IAFG » Mon Mar 19, 2012 8:13 am

ran12 wrote:Firms that pay extra for a MBA usually give a MBA sign on bonus in the 20k range in addition to the first year salary. I don't remember which firms do this but I was interested in this a few years ago and seemed like that's the norm.

It used to be a lot more, and now it's a lot rarer.

The fact that it used to be a thing, though, really makes me wonder about the conventional wisdom that firms don't trust JDMBAs.

CanadianWolf
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Re: Which firms pay extra for MBA?

Postby CanadianWolf » Mon Mar 19, 2012 10:11 am

Yet many, probably most, biglaw firms are (or are in the process or have already) restructuring to be run as more efficient businesses---something that those with both JD & MBA degrees should be able to understand & implement.

Also, JD/MBAs should be able to readily relate to client concerns.

Regardless, law firms are primarily seeking sheer brain power & incredible work ethic in their hires so preference probably won't be given to dual degree holders unless equal in brain power, work ethic & fit.
Last edited by CanadianWolf on Mon Mar 19, 2012 10:17 am, edited 1 time in total.

imchuckbass58
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Re: Which firms pay extra for MBA?

Postby imchuckbass58 » Mon Mar 19, 2012 10:16 am

Many firms still give bonuses, at least big NY firms. Every JD/MBA I know is getting not only advanced standing/pay, but also a bonus ranging from toke ($15k) to clerkship ($50k).

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Aberzombie1892
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Re: Which firms pay extra for MBA?

Postby Aberzombie1892 » Mon Mar 19, 2012 10:42 am

CanadianWolf wrote:Yet many, probably most, biglaw firms are (or are in the process or have already) restructuring to be run as more efficient businesses---something that those with both JD & MBA degrees should be able to understand & implement.

Also, JD/MBAs should be able to readily relate to client concerns.

Regardless, law firms are primarily seeking sheer brain power & incredible work ethic in their hires so preference probably won't be given to dual degree holders unless equal in brain power, work ethic & fit.


This. JD/MBAs are always valuable and are frequently preferable.

In my opinion, if I was an unemployed 3L, I would consider getting an MBA after graduating from law school. Basically, one would take the bar, after graduation from law school, in the same state that person would be entering the MBA program. Then, that person could shop around for employment while simultaneously gaining a valuable credential and being a licensed attorney.




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