Advantages of a JD/MBA

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js101b
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Advantages of a JD/MBA

Postby js101b » Fri Dec 20, 2013 10:21 pm

Hi guys! I'd really like to hear your thoughts on this. I'm considering getting a JD/MBA. I've already applied to law schools, but I'm considering submitting an MBA application to a few of them. I haven't taken the GMAT or even really heard much about it -- and I'd have to scramble to finish up my application within the next two weeks or so (plus take the test). I'm considering doing the MBA in the first year if I do both.

What do you consider to be the major advantages and disadvantages of pursuing a JD/MBA as opposed to a JD? Thanks!
Last edited by js101b on Sat Dec 21, 2013 2:28 am, edited 1 time in total.

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midnight_circus
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Re: Is a JD/MBA worth it?

Postby midnight_circus » Sat Dec 21, 2013 1:19 am

Uh, worth it for what? For fun? No.
What career goal are you trying to advance by getting two degrees when, in the vast majority of cases, one will do?

ETA: Not a law student and will give no advice. Just curious why you're asking.

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js101b
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Re: Is a JD/MBA worth it?

Postby js101b » Sat Dec 21, 2013 2:28 am

midnight_circus wrote:Uh, worth it for what? For fun? No.
What career goal are you trying to advance by getting two degrees when, in the vast majority of cases, one will do?

ETA: Not a law student and will give no advice. Just curious why you're asking.


Edited to better reflect what I'm asking for/about.

californiauser
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Re: Advantages of a JD/MBA

Postby californiauser » Sat Dec 21, 2013 2:42 am

js101b wrote:Hi guys! I'd really like to hear your thoughts on this. I'm considering getting a JD/MBA. I've already applied to law schools, but I'm considering submitting an MBA application to a few of them. I haven't taken the GMAT or even really heard much about it -- and I'd have to scramble to finish up my application within the next two weeks or so (plus take the test). I'm considering doing the MBA in the first year if I do both.

What do you consider to be the major advantages and disadvantages of pursuing a JD/MBA as opposed to a JD? Thanks!


Disadvantages: cost and time

Can you get into Stanford GSB, Booth, HBS, or Wharton? If no, MBA/JD probably isn't worth it. If yes, why do you want a law degree?

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thesealocust
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Re: Advantages of a JD/MBA

Postby thesealocust » Sun Dec 22, 2013 7:03 pm

There are almost no advantages. You can do it, and you can probably wind up with something cool you could have gotten with either a JD or and MBA, but there are very close to 0 employers looking to pick up people with that credential specifically. The only people I know who did it wound up doing things with others who only have on of the two credentials.

That isn't to say winding up with both couldn't be useful at some point - MBAs could go to law school to change career or vice versa. And it's also not to say the training/knowledge/networking would be worthless - just almost certainly not worth the time and money costs.

The primary selling point of the JD/MBA is that hyper-ambitious pre-law / pre-MBA students don't know any better.

tomwatts
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Re: Advantages of a JD/MBA

Postby tomwatts » Sun Dec 22, 2013 11:53 pm

I'm doing a joint degree, but not a JD/MBA. I heard a lot of joint degree panels with JD/MBAs talking about what they were doing, so I have at least more anecdotal experience than others might, but take the following with a grain of salt.

The general stereotype (probably statistical fact, but I don't know) about JD/MBAs is that they end up using the MBA, not the JD. Not that many of them end up practicing law. (Uh, this might be more true at my school than at others, but I don't think so.)

This is a little perverse, because the MBA is actually pretty good training/networking for transactional practice at a big firm. Getting a sense of how the executives make their decisions — which is pretty much what an MBA is training for — is helpful in terms of structuring deals. (For what I assume are obvious reasons.) And you meet a bunch of people who are going to be either your customers or the same personality types as your customers.

But people often end up deciding that they want to make the big business decisions and delegate the fine print to the lawyers. Using the MBA is probably a more direct route to doing that. Even so, people say that the intellectual training and the understanding of how lawyers think and work is pretty good for an MBA, because business leaders work with lawyers all the time, and critical thinking skills are good regardless.

As for whether the credential actually helps in hiring, my guess is marginally in some circumstances, but not a huge amount.

Oh, and there's one other thing, which is maybe not that big a deal but worth mentioning. Doing a joint degree gives you (usually, unless it's one of those Yale-style accelerated ones) 4 years instead of 3, which gives you 3 summers to get broader experiences, which is kind of nice, and gets you outside the law school bubble for a lot of the time. I've found this psychologically very helpful; I like law school, but it might have been less fun if it were all that I was doing for 3 years.

TakeABow94
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Re: Advantages of a JD/MBA

Postby TakeABow94 » Mon Dec 23, 2013 12:31 am

nvm
Last edited by TakeABow94 on Fri Dec 27, 2013 7:25 pm, edited 1 time in total.

bdubs
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Re: Advantages of a JD/MBA

Postby bdubs » Mon Dec 23, 2013 12:38 am

A good JD/MBA can be an advantage, particularly for a law student. The number of 3 year programs in the T14 is growing (Northwestern, Columbia, Penn, Cornell, and Yale) so the sacrifice in time isn't that huge. There is an added cost in tuition but it isn't necessarily a bad investment (JD/MBA students get a bonus at some firms). I also think there is a lot of value in the option that it offers a law student who isn't 100% sure about the legal market and working at a law firm. I'm pretty glad that I did the Northwestern JD/MBA and not just a JD from a higher ranked T14. Feel free to ping me if you have any questions.

I would not recommend doing a JD/MBA if you're considering a 4 year program outside of Harvard/Stanford.

tomwatts
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Re: Advantages of a JD/MBA

Postby tomwatts » Tue Dec 24, 2013 2:53 am

TakeABow94 wrote:well does actually being a student help you network with mba's more effectively than if you're just a jd whose ls is nearby?

Um, yes. Yes, it does.

Well, it depends a little on how distinct the schools within the university are. I'm at a particularly balkanized university, where the law school is at one end, the business school is at the other, and never do the twain meet. Cross-registering is one thing, and actually being in the same b-school section with the b-school students is completely another. You can definitely meet b-school students as a law student, and that's probably plenty for most people, but it's a wholly different experience to actually go to business school with them.

But in schools that are less split up, it may be less of a difference.




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