Is UVA worth $45,000 over Michigan? Forum

[abcabc]

I have to make the call very, very soon.

UVA: $75,000 Scholarship
Michigan: $120,000 Scholarship

COA: The rest of the COA will be covered by the family, so I'm in a very fortunate position. If UVA isn't worth the extra $, however, I would hate to have my family pay for that extra dime.

Goals: Biglaw or Gov (DOJ, SEC, FTC, etc.)
Preferred markets: DC -> NYC -> Cali

Also, I'm considering JD/MBA. I believe Darden and Ross are pretty much peers, just like the law schools. I've visited and loved both schools' environments.

The only concerns I have about Michigan is its recent employment stats/trends. I've done my research, and I'm getting different feedback on this. Some say it's a short-term outlier/noise sort deal, and Michigan's #s will bounce back up. Others say it's more long-term for various reasons (i.e. Detroit, old-school prestige dwindling, etc.).

Since my goal is Biglaw or Gov, I'm thinking UVA may be worth the extra $45,000. Any advice/thoughts? Thanks.

[BruceWayne]

Hell no it isn't worth what will really end up being like at least $55K more.

No school in the top 14 not named Harvard, Yale, or Stanford is worth $45K more than Michigan. It seems like no big deal now but when you get out and have to fork over an extra couple hundred dollars a month out of your pay check you won't be thinking "God I'm glad I choose UVA over Michigan".

[Anon. E. Moose]

I faced basically the same choice (slightly smaller scholarship at UVA and slightly bigger scholarship at Michigan, for a $75,000 gap). I just finished 1L at Michigan, and I haven't regretted it for a second. It's difficult to overstate how nice it is to have a greatly reduced debt burden. Everything (finals, job search, etc.) is less stressful with less debt. It's a great feeling.

People at Michigan get jobs. Take the money and run!

[OhBoyOhBortles]

120k at Mich is a killer offer. I wouldn't walk away from that.

[runinthefront]

I think there are around 5-7 schools worth 45K more than UM (or at least defensible). . . but UVA isn't one of them. That's a good scholly offer from UM

[arklaw13]

take the money and never look back

[Hutz_and_Goodman]

take the money and never look back

[FloridaCoastalorbust]

UVA easily. You're not paying for it and UVA is a better school with better numbers.

edit - make a poll

[abl]

I'm not convinced UVA's worth $10,000 more than Michigan for someone who has as neutral goals as you (and the only reason why it might be worth a little more is because my sense is that UVA feeds into DC more than Michigan does). The schools are true peers.

[RareExports]

Yeah, if you're not paying and want to work in DC, UVA is probably the best bet. In any other situation though, I would take Mich.

[LA Spring]

Is there any way you can avoid Mich and UVA? Perhaps better choices like Duke, Penn or NYU?

[CanadianWolf]

If targeting The South or DC, then Virginia is worth the difference.

Based on placement statistics, I think that there are seven (7) Top 14 law schools worth $45,000 more than Michigan. (Harvard, Stanford, Yale, Columbia, Chicago, NYU & Penn.)

[CanadianWolf]

OP: Since you have erased/deleted all of your prior posts it's difficult to offer much more than generalized opinions. The JD/MBA intent is interesting.

[abcabc]

Thanks for all the responses/feedback so far. It looks like the majority is recommending Michigan.

I was leaning that way as well (money is money), but one of my primary goals is to work in some sort of regulatory/gov role (i.e. SEC/Federal Reserve Board). Due to proximity to the DC area, I was thinking perhaps UVA is worth the extra cost.

It's definitely a tough choice.

[abcabc]

OP: Since you have erased/deleted all of your prior posts it's difficult to offer much more than generalized opinions. The JD/MBA intent is interesting.

Haha, I was a bit 'paranoid' about outing myself, but here I am with another post. TLS is such a great resource.

[CanadianWolf]

I voted for Virginia based on your target market of DC & the fact that your family seems to be able to comfortably afford the difference. But, it would be interesting to know why you are considering the joint JD/MBA degree ? I, unlike many other posters, often see this as a wise investment.

Is your undergraduate degree in a business related field ? Do Michigan & Virginia both require a fourth year to earn both degrees ?

[Traynor Brah]

No school in the top 14 not named Harvard, Yale, or Stanford is worth $45K more than Michigan.

Well, that's a pretty big overstatement. But UVA, in particular, is not worth 45K more.

UMich is TCR here. And unless you have a compelling reason to do it, I would advise against the dual MBA, unless it is a combined three year program and doesn't cost you that much more.

[abcabc]

I voted for Virginia based on your target market of DC & the fact that your family seems to be able to comfortably afford the difference. But, it would be interesting to know why you are considering the joint JD/MBA degree ? I, unlike many other posters, often see this as a wise investment.

Two reasons I'm considering JD/MBA. One, I'm interested in financial regulatory law (SEC, Fed Reserve Board, and such). I was thinking the finance/economics coursework would be useful in getting that first job. Two, Career flexibility as far as business/law/government is concerned.

Are you also interested in pursuing JD/MBA (or currently enrolled in one)? Am I thinking this correctly?

[CanadianWolf]

I finished law school a long time ago. Most biglaw firms give advanced standing or bonuses for joint JD/MBA degrees (not sure if this practice has changed within the last couple of years though).

MBA is very valuable in a corporate practice as you are proficient in the client's language. Certainly should be an asset if exiting biglaw to a corporate client.

The good news is that since the popular rhetoric on this site is against joint degrees, you'll have an advantage in the interviewing process.

[abcabc]

I finished law school a long time ago. Most biglaw firms give advanced standing or bonuses for joint JD/MBA degrees (not sure if this practice has changed within the last couple of years though).

MBA is very valuable in a corporate practice as you are proficient in the client's language. Certainly should be an asset if exiting biglaw to a corporate client.

The good news is that since the popular rhetoric on this site is against joint degrees, you'll have an advantage in the interviewing process.

That's very interesting. Could you please provide some insights into the value of JD/MBA for any regulatory work and government hiring?

Also, is there a level where the advantage of MBA begins to taper off? For example, I'm assuming Harvard/Stanford degrees are always invaluable. How about the schools I'm looking at (i.e. Darden and Ross)?

[xylocarp]

Would the cost difference be a burden on your family at all?

[abcabc]

Would the cost difference be a burden on your family at all?

No, but I would hate for my family to pay for anything (i.e. that extra $ at UVA) if it's not worth it at all.

[CanadianWolf]

The value of an MBA degree increases as one progresses throughout many government positions because managerial skills are valued at the higher levels.

[CanadianWolf]

OP: Since you are targeting DC for a regulatory or biglaw position, you should ask each law school for their most recent years placement data.

Also, your undergraduate major comes into play re: MBA option.

[abcabc]

OP: Since you are targeting DC for a regulatory or biglaw position, you should ask each law school for their most recent years placement data.

Also, your undergraduate major comes into play re: MBA option.

I took a look at the most recent placement data, and UVA definitely has more folks in Fed/Biglaw positions in DC. Not sure about regulatory specifically, but I'm assuming UVA has higher placement there as well.

Also, I graduated from a top-10 UG business program (Cornell/Ross/Stern/Haas/UNC - that level of school). Would the MBA be redundant in my case then?