JD/MBA Worth it?

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plug1
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JD/MBA Worth it?

Postby plug1 » Thu Feb 07, 2013 1:57 pm

I am currently a 2L at a Law school ranked between 25 and 35. I just recently got accepted to the MBA program here as well. Is it worth it to pursue the joint degree?

Here's the situation:

1) The investment will be an extra year of study and about $6,000 in tuition.

2) The B-School here is ranked between #50 and #30.

3) I want to practice corporate/business law to start out with and am open to moving laterally to a business management postion in the future.

I need some advice. What are y'all's thoughts?

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cinephile
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Re: JD/MBA Worth it?

Postby cinephile » Thu Feb 07, 2013 1:58 pm

Probably not worth it. But if you're only taking on an extra $6k in costs . . . maybe you could do OCI again?

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Drake014
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Re: JD/MBA Worth it?

Postby Drake014 » Thu Feb 07, 2013 1:59 pm

cinephile wrote:Probably not worth it. But if you're only taking on an extra $6k in costs . . . maybe you could do OCI again?

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plug1
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Re: JD/MBA Worth it?

Postby plug1 » Thu Feb 07, 2013 2:17 pm

cinephile wrote:Probably not worth it. But if you're only taking on an extra $6k in costs . . . maybe you could do OCI again?


Why do you say that its probably not worth it? Is the value added of an MBA not very high?

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AlanShore
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Re: JD/MBA Worth it?

Postby AlanShore » Thu Feb 07, 2013 2:20 pm

not worth it. would maybe be worth it if bschool was top 20/top15

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cinephile
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Re: JD/MBA Worth it?

Postby cinephile » Thu Feb 07, 2013 2:23 pm

plug1 wrote:
cinephile wrote:Probably not worth it. But if you're only taking on an extra $6k in costs . . . maybe you could do OCI again?


Why do you say that its probably not worth it? Is the value added of an MBA not very high?


It's not a good enough business school to be worthwhile. But even if it were, I've heard that it doesn't help - either you're getting a business job where the JD is superfluous and actually worries employers that you're not fully committed to this non-legal job, or the you're getting a legal job where the business degree is superfluous. The only benefit I see is if you need another year in school so you don't graduate unemployed and can use this time to continue to look for work and redo OCI.

sparty99
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Re: JD/MBA Worth it?

Postby sparty99 » Thu Feb 07, 2013 2:33 pm

I think an extra $6,000 could be worth it. However, when you factor cost of living, my view probably says its not worth it.

It would only be worth it if you want to go into business. The MBA would give you access to your school's recruiting. However, if you don't have prior work experience, you will not be an attractive candidate for MBA positions. Thus, a $65,000 to $85,000 position is not something that you would land.

Also, it's hard to say without knowing the school. Not all MBA programs are the same.

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spicyyoda17
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Re: JD/MBA Worth it?

Postby spicyyoda17 » Thu Feb 07, 2013 2:39 pm

$6k + COL is not bad for an MBA. However, a JD/MBA rarely makes sense, and when it does, it usually only applies to top-tier programs.

It might be worth it if:

1) You need another round of OCI
2) You plan to practice in the region where you will be getting your MBA from (in other words, it's a strong regional MBA program)

Even if both of those apply, here are reasons why it may not be a good idea:

1) No need + extra cost
2) Delays entrance into legal career (where again, the value-added of the MBA is marginal at best)
3) Did I mention no need?

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Aberzombie1892
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Re: JD/MBA Worth it?

Postby Aberzombie1892 » Thu Feb 07, 2013 5:52 pm

Also, getting one now prevents you from getting one later and also effectively takes away the value of pursuing other degrees on that track, like a masters of finance or masters of accounting. This is extremely important because if law doesn't work out the way you want, you cannot go back to school to pursue these degrees, and, even if law does work out, it prevents you from getting one of these degrees later in order to switch careers or be promoted to a managerial role (i.e. someone who is simultaneously General Counsel and an Executive).

LSATNightmares
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Re: JD/MBA Worth it?

Postby LSATNightmares » Fri Feb 08, 2013 8:53 am

I don't know much about corporate law, but is it really not worth it? When I was doing OCI with big Silicon Valley corporate law firms, a lot of those people had joint MBA/JD degrees, even if their MBA wasn't from a top school. I imagine it could be useful for the education and making you a better associate. I'm struggling with my corporate law class now, and I keep thinking how an MBA is needed.

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thesealocust
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Re: JD/MBA Worth it?

Postby thesealocust » Fri Feb 08, 2013 12:04 pm

LSATNightmares wrote:I don't know much about corporate law, but is it really not worth it? When I was doing OCI with big Silicon Valley corporate law firms, a lot of those people had joint MBA/JD degrees, even if their MBA wasn't from a top school. I imagine it could be useful for the education and making you a better associate. I'm struggling with my corporate law class now, and I keep thinking how an MBA is needed.


Most training is on-the job, and most big firms are happy to take Philosophy majors with decent grades and personalities. The hiring model writ large just isn't looking for relevant background and experience.

So if you HAVE that background and experience, it might be a little better for a lot of reasons (more to talk about, etc.) but it's not a big tipping point.

If you really look into MBAs, you'll see the writing is on the wall for them as much as it is for JDs.

While you're in the educational bubble, degrees impart a large sense of self efficacy for a small expenditure of research and effort. You can Do Something to Better Yourself and Your Career Prospects, and it's comforting to imagine that after you toss your caps in the air those Advanced Degrees will unlock Opportunities with Employers Impressed by those Advanced Degrees. It really doesn't work that way though, it's just very hard to appreciate it as a student when it's so nice to imagine the limitless possibilities that can be yours if only you choose the right field of study...

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plug1
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Re: JD/MBA Worth it?

Postby plug1 » Sun Feb 10, 2013 4:55 pm

spicyyoda17 wrote:$6k + COL is not bad for an MBA. However, a JD/MBA rarely makes sense, and when it does, it usually only applies to top-tier programs.

It might be worth it if:

1) You need another round of OCI
2) You plan to practice in the region where you will be getting your MBA from (in other words, it's a strong regional MBA program)

Even if both of those apply, here are reasons why it may not be a good idea:

1) No need + extra cost
2) Delays entrance into legal career (where again, the value-added of the MBA is marginal at best)
3) Did I mention no need?


Well I guess it would be helpful to give the specifics on my situation. I didnt do do well in OCI and wouldn't mind another shot at it. Im sitting at around the top 25% mark for my class at UGA and am on a secondary law journal. I plan on apply to jobs exclusively in Atlanta, where I think JDs and MBAs from UGA generally carry a good amount of weight. I will also have very little debt, if any at all when I graduate. Does that change the analysis at all? I appreciate y'alls's advice!

sparty99
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Re: JD/MBA Worth it?

Postby sparty99 » Mon Feb 11, 2013 12:47 am

plug1 wrote:
spicyyoda17 wrote:$6k + COL is not bad for an MBA. However, a JD/MBA rarely makes sense, and when it does, it usually only applies to top-tier programs.

It might be worth it if:

1) You need another round of OCI
2) You plan to practice in the region where you will be getting your MBA from (in other words, it's a strong regional MBA program)

Even if both of those apply, here are reasons why it may not be a good idea:

1) No need + extra cost
2) Delays entrance into legal career (where again, the value-added of the MBA is marginal at best)
3) Did I mention no need?


Well I guess it would be helpful to give the specifics on my situation. I didnt do do well in OCI and wouldn't mind another shot at it. Im sitting at around the top 25% mark for my class at UGA and am on a secondary law journal. I plan on apply to jobs exclusively in Atlanta, where I think JDs and MBAs from UGA generally carry a good amount of weight. I will also have very little debt, if any at all when I graduate. Does that change the analysis at all? I appreciate y'alls's advice!


Do you have prior work experience? Again, you won't be marketable for MBA jobs if you don't have work experience. You didn't do well at OCI? How many interviews did you land? How many call back interviews did you receive? You might be wasting your time if you didn't get any interviews.

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Aberzombie1892
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Re: JD/MBA Worth it?

Postby Aberzombie1892 » Mon Feb 11, 2013 7:46 am

The fact that you attend UGA doesn't really change the analysis. The MBA with the JD is generally a bad deal, regardless of school.

Also, you shouldn't have anticipated getting anything from OCI with grades like that from UGA.

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dingbat
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Re: JD/MBA Worth it?

Postby dingbat » Mon Feb 11, 2013 8:52 am

Do not do the MBA if you only want to improve your job prospects (and want a legal job).
If you want the knowledge, it's ok to get the MBA - it will teach you things that are useful in your career, and the price is right. But, 90% of what you learn will be of no use to you wahtsoever

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Aberzombie1892
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Re: JD/MBA Worth it?

Postby Aberzombie1892 » Mon Feb 11, 2013 2:50 pm

dingbat wrote:Do not do the MBA if you only want to improve your job prospects (and want a legal job).
If you want the knowledge, it's ok to get the MBA - it will teach you things that are useful in your career, and the price is right. But, 90% of what you learn will be of no use to you wahtsoever


I would almost go as far as to say that most MBA's are worthless in terms of seeking employment, unless (1) the school is a game changer or (2) the person is already a super-awesome candidate. Unfortunately, UGA is MBA #3 in Georgia, and that is reason enough to leave it alone.

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dingbat
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Re: JD/MBA Worth it?

Postby dingbat » Mon Feb 11, 2013 6:24 pm

Aberzombie1892 wrote:
dingbat wrote:Do not do the MBA if you only want to improve your job prospects (and want a legal job).
If you want the knowledge, it's ok to get the MBA - it will teach you things that are useful in your career, and the price is right. But, 90% of what you learn will be of no use to you wahtsoever


I would almost go as far as to say that most MBA's are worthless in terms of seeking employment, unless (1) the school is a game changer or (2) the person is already a super-awesome candidate. Unfortunately, UGA is MBA #3 in Georgia, and that is reason enough to leave it alone.




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