How much extra would you pay for a top MBA?

Share Your Experiences, Read About Other Experiences. Please keep posts organized by school and expected year of graduation.
bdubs
Posts: 3729
Joined: Sat Feb 06, 2010 2:23 pm

How much extra would you pay for a top MBA?

Postby bdubs » Wed Mar 30, 2011 10:13 pm

My cycle just ended and I have been admitted to a number of great schools. I have narrowed my choices down to three:

Northwestern JD/MBA
UPenn
NYU

I am trying to weigh the additional costs of the Northwestern JD/MBA against the benefits afforded a higher ranked law school, such as Penn or NYU. My career goal is to work in litigation with a focus on antitrust issues, eventually I would like to transition into a corporate role in a large company that faces competition issues regularly. Due to my focus on antitrust law, I am primarily interested in working DC after graduation. If I had to choose a secondary market of interest it would be Chicago, but my understanding is that New York would offer more opportunities in antitrust law.

Here are my thoughts on each:

Northwestern JD/MBA - Northwestern is generally seen to be a notch below the other programs I am considering, however Kellogg is very well regarded and anecdotally seems to offer JD/MBAs opportunities not afforded most other NU students. The downside is that this program costs the most out of all of my options. The MBA also adds a great option to pursue another career option if I have a 180 degree change in my career objectives (not too likely but who knows how grades will shake out). I have calculated my total COA at $284,000

Penn - Penn has a great law school and a great business school. Unfortunately I didn't get into Wharton this year, but I did get into the law school. If I go to Penn I will have the option to reapply to Wharton as a 1L (with a GMAT retake that might make me more competitive) or to just get the Wharton certificate. Upsides for Penn are that 1) the program is the cheapest of the three 2) the JD/MBA potential is still there 3) I like Penn's small class size. Downsides are 1) It doesn't seem to place quite as well as NYU 2) Wharton is not something I want to count on and would end up adding to the cost 3) I don't like Philly much. I have calculated my total COA at $237,000

NYU - NYU is my top ranked admission and it offers the best prospects for legal hiring. NYU also has some really top notch antitrust scholars that I would really enjoy working with (hoping that Rubinfeld continues to "visit" if I do go). I am not too fond of NYU's location, it's too expensive and I have a feeling finding a place with my dog will be a big challenge. I'd also be giving up the potential of pursuing an MBA in 3 years (not very interested in the 4 year joint deg). I have calculated my total COA at $246,000 [I don't have a financial aid offer yet, but I'm not expecting much of anything]
Last edited by bdubs on Fri Apr 01, 2011 2:20 pm, edited 1 time in total.

tourdeforcex
Posts: 428
Joined: Fri Jun 11, 2010 2:19 pm

Re: How much extra would you pay for a top MBA?

Postby tourdeforcex » Thu Mar 31, 2011 8:09 am

the credited response is NYU.

as stated by a tax professor at xxxxx and something i believe, the incremental benefit of an MBA on top of a JD is usually not worth the incremental cost. and xxxxx is lower ranked relative to all your school choices. in more detail, what i've heard is JD/MBA students don't on average have significantly more opportunities than top JD students. if you can get that job w/ a JD, you really don't need the MBA

hope this helps.

User avatar
2things2
Posts: 183
Joined: Mon Sep 20, 2010 2:39 am

Re: How much extra would you pay for a top MBA?

Postby 2things2 » Thu Mar 31, 2011 10:41 am

You're going to be hearing a lot of people telling you to go to NYU, and probably for good reason. How married are you to the idea of a JD/MBA? If you are, and you feel confident you can get into Wharton, then it might be worth it to risk it and go to Penn. If you're not sure but still want to do the JD/MBA, go to Northwestern. But it sounds like for what you want to do, NYU makes more sense than anything.

Just know that you really can't fuck up this decision no matter how hard you try. These are all pretty incredible options.

bdubs
Posts: 3729
Joined: Sat Feb 06, 2010 2:23 pm

Re: How much extra would you pay for a top MBA?

Postby bdubs » Thu Mar 31, 2011 12:25 pm

tourdeforcex wrote:the credited response is NYU.

as stated by a tax professor at xxxxx and something i believe, the incremental benefit of an MBA on top of a JD is usually not worth the incremental cost. and xxxxx is lower ranked relative to all your school choices. in more detail, what i've heard is JD/MBA students don't on average have significantly more opportunities than top JD students. if you can get that job w/ a JD, you really don't need the MBA

hope this helps.


The thing is the incremental cost of the MBA at Northwestern isn't especially large relative to its paper value ($40k). The contacts, experience and general fun of the MBA might be worth some extra tuition money, especially down the road.

Also, I don't know that you can say the incremental value of the MBA is small if NU JD/MBAs get positions in top firms that other NU students generally don't get. For example, there are two NU JD/MBA associates at Wachtell, but only one with just a JD (there are almost 10x more JDs than JD/MBAs).

I am grappling more with the tradeoffs in legal prestige and placement between rank and relative rarity/value.

bdubs
Posts: 3729
Joined: Sat Feb 06, 2010 2:23 pm

Re: How much extra would you pay for a top MBA?

Postby bdubs » Thu Mar 31, 2011 12:27 pm

2things2 wrote:Just know that you really can't fuck up this decision no matter how hard you try. These are all pretty incredible options.


Thanks, I realize these are great options and I'm happy to have them. On the other hand I don't want to come out with $250k in debt and wish I had chosen X school over Y school, so I'm trying to be diligent.

User avatar
FuManChusco
Posts: 1217
Joined: Tue Jan 26, 2010 8:56 pm

Re: How much extra would you pay for a top MBA?

Postby FuManChusco » Thu Mar 31, 2011 12:29 pm

2things2 wrote:For example, there are two NU JD/MBA associates at Wachtell, but only one with just a JD (there are almost 10x more JDs than JD/MBAs).


I really hope you're not using this as compelling evidence for why a JD/MBA is worth it...

bdubs
Posts: 3729
Joined: Sat Feb 06, 2010 2:23 pm

Re: How much extra would you pay for a top MBA?

Postby bdubs » Thu Mar 31, 2011 12:33 pm

FuManChusco wrote:
bdubs wrote:For example, there are two NU JD/MBA associates at Wachtell, but only one with just a JD (there are almost 10x more JDs than JD/MBAs).


I really hope you're not using this as compelling evidence for why a JD/MBA is worth it...


It's one data point. If you look at the firms hiring JD/MBAs (which are public, unlike law school placement) they tend to be highly prestigious. Additionally, some firms put JD/MBAs on second year associate pay scale and seniority track.
Last edited by bdubs on Fri Apr 01, 2011 2:20 pm, edited 1 time in total.

User avatar
pokerlaw
Posts: 223
Joined: Tue Nov 02, 2010 11:33 am

Re: How much extra would you pay for a top MBA?

Postby pokerlaw » Thu Mar 31, 2011 12:34 pm

I'd pay sticker and then some for Wharton.

Curry

Re: How much extra would you pay for a top MBA?

Postby Curry » Thu Mar 31, 2011 12:34 pm

bdubs wrote:
FuManChusco wrote:
2things2 wrote:For example, there are two NU JD/MBA associates at Wachtell, but only one with just a JD (there are almost 10x more JDs than JD/MBAs).


I really hope you're not using this as compelling evidence for why a JD/MBA is worth it...


It's one data point. If you look at the firms hiring JD/MBAs (which are public, unlike law school placement) they tend to be highly prestigious. Additionally, some firms put JD/MBAs on second year associate pay scale and seniority track.

Where do you get this information? EVerything I've read has shown that a JD/MBA makes you less marketable as a lawyer than straight JD's and less marketable in the business field than straight MBA's

bdubs
Posts: 3729
Joined: Sat Feb 06, 2010 2:23 pm

Re: How much extra would you pay for a top MBA?

Postby bdubs » Thu Mar 31, 2011 12:39 pm

Curry wrote:Where do you get this information? EVerything I've read has shown that a JD/MBA makes you less marketable as a lawyer than straight JD's and less marketable in the business field than straight MBA's


Goodwin Procter and Paul Hastings both do this. I heard from several JD/MBAs that other firms do this on a case by case basis since top JD/MBAs are a very small group.

--LinkRemoved--

Career info for NU JD/MBAs comes primarily from here:

http://www.kellogg.northwestern.edu/Pro ... Final.ashx

Joint degree students are thrown in the mix, so you have to identify law firms by name to see where they end up.

Also, I have heard that some firms look down upon JD/MBAs for retention reasons, however I think the number is relatively small. Banking and consulting both seem to like MBAs with JDs, so two of the most popular career paths out of b-school seem to be wide open.

User avatar
glewz
Posts: 785
Joined: Tue Jun 08, 2010 4:32 pm

Re: How much extra would you pay for a top MBA?

Postby glewz » Thu Mar 31, 2011 1:01 pm

I'm not sure where you get the notion that Northwestern's JDMBA lacks prestige; it is only slightly less than Harvard and Penn and is one of the most selective (its class size is about 30 every year)

I'm pretty familiar with the JDMBA admissions process, and you really really shouldn't count on getting into Wharton as a 1L applicant; chances are very slim if you didn't get in the first round, and not even worth thinking about if you did not get an interview. Your choices should be down to NYU and Northwestern - Kellogg is hands down a better b-school than Stern, but NYU Law is > Northwestern Law.

If you are serious about the JD/MBA and willing to stomach its costs, you should go to Northwestern and forget about Penn Law, but since NYU is already a school that will yield great opportunities in antitrust law (and that is your specific goal), the JD/MBA is probably not really worth it.

jeremysen
Posts: 241
Joined: Mon Dec 20, 2010 3:07 am

Re: How much extra would you pay for a top MBA?

Postby jeremysen » Thu Mar 31, 2011 1:04 pm

glewz wrote:you really really shouldn't count on getting into Wharton as a 1L applicant; chances are very slim if you didn't get in the first round, and not even worth thinking about if you did not get an interview. Your choices should be down to NYU and Northwestern

This.

I think a lot of people voted for Penn because of 2 reasons:
(1) they didn't actually read your message
(2) they don't understand the jdmba admissions process

bloopyblooper
Posts: 44
Joined: Sun Oct 31, 2010 9:02 pm

Re: How much extra would you pay for a top MBA?

Postby bloopyblooper » Thu Mar 31, 2011 1:07 pm

jeremysen wrote:
glewz wrote:you really really shouldn't count on getting into Wharton as a 1L applicant; chances are very slim if you didn't get in the first round, and not even worth thinking about if you did not get an interview. Your choices should be down to NYU and Northwestern

This.

I think a lot of people voted for Penn because of 2 reasons:
(1) they didn't actually read your message
(2) they don't understand the jdmba admissions process


The poll simply said "which one would you choose?" Anyone who did not read the message would obviously click UPenn..

I think people would change their thoughts after reading further.

CanadianWolf
Posts: 10439
Joined: Wed Mar 24, 2010 4:54 pm

Re: How much extra would you pay for a top MBA?

Postby CanadianWolf » Thu Mar 31, 2011 1:13 pm

Northwestern.

User avatar
2things2
Posts: 183
Joined: Mon Sep 20, 2010 2:39 am

Re: How much extra would you pay for a top MBA?

Postby 2things2 » Thu Mar 31, 2011 1:34 pm

FuManChusco wrote:
2things2 wrote:For example, there are two NU JD/MBA associates at Wachtell, but only one with just a JD (there are almost 10x more JDs than JD/MBAs).


I really hope you're not using this as compelling evidence for why a JD/MBA is worth it...

hey i never wrote that!




Return to “Law School Acceptances, Denials, and Waitlists”