Joint MBA worthwhile? Forum

[tenpercent]

Hello.

I am a current 1L. I am thinking about applying for the MBA program but I have some questions/concerns. After graduation I would like to work in corporate law, ideally with a focus on start ups and venture capital. My long term goal would be to transition more into the business side of things. I'd like to have a position where I can be a jack-of-all trades sort, helping emerging companies with all of the problems they face both legal and otherwise. It seems to me at first glance that an MBA would be helpful, but I'd like some advice/thoughts to help me decide.
Financially, I am looking at graduating with around 50k debt worst-case, and adding another year in school will probably bring me to around 100k (again worst-case). Of course I would also have to factor in 1 year lost wages of likely BL salary. I am willing to make the financial sacrifice if it gets me where I want to be, but if I can get there without it I'd much rather not stay in school for longer than I need to.

Thanks for any input!

[soft blue]

My sense was that many schools have a 3-year JD/MBA program, so it wouldn't add on the extra year.

Regardless you should tell us where you go to law school. MBA value is hugely dependent on the institution -- it's who you meet. If your LS doesn't have a highly ranked b-school or its b-school doesn't really push people into VC/tech, then it's difficult to call it helpful.

[wldecisions]

MBA value is hugely dependent on the institution -- it's who you meet. If your LS doesn't have a highly ranked b-school or its b-school doesn't really push people into VC/tech, then it's difficult to call it helpful.

+1. Getting an MBA is paying money to expand your network. On a national level, I doubt it would be all that helpful unless you have a T15 MBA, especially if you intend to start out on the legal side.

[Lawman1865]

Hello.

I am a current 1L. I am thinking about applying for the MBA program but I have some questions/concerns. After graduation I would like to work in corporate law, ideally with a focus on start ups and venture capital. My long term goal would be to transition more into the business side of things. I'd like to have a position where I can be a jack-of-all trades sort, helping emerging companies with all of the problems they face both legal and otherwise. It seems to me at first glance that an MBA would be helpful, but I'd like some advice/thoughts to help me decide.
Financially, I am looking at graduating with around 50k debt worst-case, and adding another year in school will probably bring me to around 100k (again worst-case). Of course I would also have to factor in 1 year lost wages of likely BL salary. I am willing to make the financial sacrifice if it gets me where I want to be, but if I can get there without it I'd much rather not stay in school for longer than I need to.

Thanks for any input!

I would suggest doing a little bit of research into these programs (a quick google search at a few programs would show you that many schools offer a JD/MBA in the same three years at at law school, albeit with some pretty busy semesters and I believe you keep the schooling going through your first summer. It also does indeed cost a pretty penny more).

It's kind of a mixed bag depending on where you go and what you want to do. When I was asking about it in law school I was advised to avoid it unless I had a specific niche field in mind (e.g. consulting). I do know a JD/MBA now though and he feels it has given him a long term edge and some flexibility regarding his career paths (he is in biglaw atm). That being said, he was pretty strong in law school and likely would've done well without his MBA. Unless you have a specific career/passion and idea of what you'd want to use it for in mind, I would take a pass and focus on excelling in your law school classes.

[Ridonkulous1]

I am a current 1L. I am thinking about applying for the MBA program but I have some questions/concerns. After graduation I would like to work in corporate law, ideally with a focus on start ups and venture capital. My long term goal would be to transition more into the business side of things. I'd like to have a position where I can be a jack-of-all trades sort, helping emerging companies with all of the problems they face both legal and otherwise. It seems to me at first glance that an MBA would be helpful, but I'd like some advice/thoughts to help me decide.

I was in exactly the same place as a 1L at HYS. Ultimately, the deciding factor for me was the incredible increase in cost to do this. I figured that instead of pursuing a dual degree, I should take as many classes in the business school as I possibly could and build my skills (but more importantly my network) that way. Ultimately, the value of the network allowed me to transition into a business role at a start up after 2+ years as an EC/VC associate in BL.

Other posters above have mentioned a 3 year JD/MBA program, but if your school doesn't already have one it may still take you the extra year and cost to transfer into one of these schools. I don't know if that's the case, just guessing. It's probably still worth looking into.

[Anonymous User]

The additional cost of an MBA at some schools can cost $75k+. At Northwestern, which does a 3yr JD-MBA, so no "extra year," the tuition just increases to make up for the fact you aren't staying another year. It increases from $68k to 96k, which is an additional $84k in loans (probably $90k after accumulated interest). I have a feeling the same is true for all the other T14/M7 JD-MBA programs, which are probably the only worthwhile programs to combo. If your additional MBA year is costing you $50k max, it makes me a bit worried about what quality of program you're at.

If the goal is to also transition business-side, it makes me think you are one of the types who doesn't want to be a lawyer but can't get great work experience right out of undergrad and are drawn in by the $190k that biglaw offers and the relative ease of law school admissions. My advise to you would be to hustle and find some gig with a respectable corporation, sit there for 3-5 years, and just attend a M7 MBA program. It'll create far fewer headaches for you.

[Anonymous User]

My sense was that many schools have a 3-year JD/MBA program, so it wouldn't add on the extra year.

Regardless you should tell us where you go to law school. MBA value is hugely dependent on the institution -- it's who you meet. If your LS doesn't have a highly ranked b-school or its b-school doesn't really push people into VC/tech, then it's difficult to call it helpful.

Thanks for the response. I go to Michigan. I know they are not M7, but they are fairly high ranked I believe.

[tenpercent]

MBA value is hugely dependent on the institution -- it's who you meet. If your LS doesn't have a highly ranked b-school or its b-school doesn't really push people into VC/tech, then it's difficult to call it helpful.

+1. Getting an MBA is paying money to expand your network. On a national level, I doubt it would be all that helpful unless you have a T15 MBA, especially if you intend to start out on the legal side.

I go to Michigan, I believe they are #12 on US News.

[tenpercent]

MBA value is hugely dependent on the institution -- it's who you meet. If your LS doesn't have a highly ranked b-school or its b-school doesn't really push people into VC/tech, then it's difficult to call it helpful.

+1. Getting an MBA is paying money to expand your network. On a national level, I doubt it would be all that helpful unless you have a T15 MBA, especially if you intend to start out on the legal side.

I go to Michigan, I believe they are #12 on US News.

[tenpercent]

The additional cost of an MBA at some schools can cost $75k+. At Northwestern, which does a 3yr JD-MBA, so no "extra year," the tuition just increases to make up for the fact you aren't staying another year. It increases from $68k to 96k, which is an additional $84k in loans (probably $90k after accumulated interest). I have a feeling the same is true for all the other T14/M7 JD-MBA programs, which are probably the only worthwhile programs to combo. If your additional MBA year is costing you $50k max, it makes me a bit worried about what quality of program you're at.

If the goal is to also transition business-side, it makes me think you are one of the types who doesn't want to be a lawyer but can't get great work experience right out of undergrad and are drawn in by the $190k that biglaw offers and the relative ease of law school admissions. My advise to you would be to hustle and find some gig with a respectable corporation, sit there for 3-5 years, and just attend a M7 MBA program. It'll create far fewer headaches for you.

Thanks for the response. I go to Michigan, not M7 but fairly high ranked. The program is cheaper because I have the GI Bill but it would run out halfway through the 4th year.

Your characterization of my career plans is fairly spot on, as ashamed as I am to admit. Is your advice to take an in-house legal gig right from graduation?

[tenpercent]

I am a current 1L. I am thinking about applying for the MBA program but I have some questions/concerns. After graduation I would like to work in corporate law, ideally with a focus on start ups and venture capital. My long term goal would be to transition more into the business side of things. I'd like to have a position where I can be a jack-of-all trades sort, helping emerging companies with all of the problems they face both legal and otherwise. It seems to me at first glance that an MBA would be helpful, but I'd like some advice/thoughts to help me decide.

I was in exactly the same place as a 1L at HYS. Ultimately, the deciding factor for me was the incredible increase in cost to do this. I figured that instead of pursuing a dual degree, I should take as many classes in the business school as I possibly could and build my skills (but more importantly my network) that way. Ultimately, the value of the network allowed me to transition into a business role at a start up after 2+ years as an EC/VC associate in BL.

Other posters above have mentioned a 3 year JD/MBA program, but if your school doesn't already have one it may still take you the extra year and cost to transfer into one of these schools. I don't know if that's the case, just guessing. It's probably still worth looking into.

My school is a 4 year program (Michigan) and I am not really interested in transferring. I will look into taking B school classes for networking, that’s a great idea.

[wldecisions]

MBA value is hugely dependent on the institution -- it's who you meet. If your LS doesn't have a highly ranked b-school or its b-school doesn't really push people into VC/tech, then it's difficult to call it helpful.

+1. Getting an MBA is paying money to expand your network. On a national level, I doubt it would be all that helpful unless you have a T15 MBA, especially if you intend to start out on the legal side.

I go to Michigan, I believe they are #12 on US News.

Ross is respectable for sure. In that case I don't think it would necessarily be a waste of money, especially with the GI Bill.

That being said, I personally would still be hesitant, as I don't think your ROI would be optimal at this stage with presumably little industry experience -- though I will note that military experience is generally quite marketable. As I'm sure you know, even a Wharton or Stanford MBA by itself won't get you very much unless you know the right people and/or worked in the right jobs (unlike in law, where a T14 JD is a decent springboard even with little experience).

I would suggest going into corporate practice, focus on building relationship with your clients, and take advantage of said relationship to pivot your career asap. The "easiest" path would be an in-house legal counsel; if the opportunity arises, however, I'd recommend snagging a product counsel role. Alternatively, I would also consider enrolling in an MBA program at this point, as you will likely be a stronger candidate. Starting in-house, as the previous commenter mentioned, is also an option, but few established companies hire out of law school. And frankly, I don't think it's worth starting in-house over a couple of years in Big Law given the latter's pay and breadth of clients.

Full disclosure: I'm also a law student currently, not an attorney. But I'm not straight-through, also toying with the idea of leaving legal practice down the line, and discussed this topic a fair amount with my sibling who has an M7 MBA.

Edit: typo

[tenpercent]

MBA value is hugely dependent on the institution -- it's who you meet. If your LS doesn't have a highly ranked b-school or its b-school doesn't really push people into VC/tech, then it's difficult to call it helpful.

+1. Getting an MBA is paying money to expand your network. On a national level, I doubt it would be all that helpful unless you have a T15 MBA, especially if you intend to start out on the legal side.

I go to Michigan, I believe they are #12 on US News.

Ross is respectable for sure. In that case I don't think it would necessarily be a waste of money, especially with the GI Bill.

That being said, I personally would still be hesitant, as I don't think your ROI would be optimal at this stage with presumably little industry experience -- though I will note that military experience is generally quite marketable. As I'm sure you know, even a Wharton or Stanford MBA by itself won't get you very much unless you know the right people and/or worked in the right jobs (unlike in law, where a T14 JD is a decent springboard even with little experience).

I would suggest going into corporate practice, focus on building relationship with your clients, and take advantage of said relationship to pivot your career asap. The "easiest" path would be an in-house legal counsel; if the opportunity arises, however, I'd recommend snagging a product counsel role. Alternatively, I would also consider enrolling in an MBA program at this point, as you will likely be a stronger candidate. Starting in-house, as the previous commenter mentioned, is also an option, but few established companies hire out of law school. And frankly, I don't think it's worth starting in-house over a couple of years in Big Law given the latter's pay and breadth of clients.

Full disclosure: I'm also a law student currently, not an attorney. But I'm not straight-through, also toying with the idea of leaving legal practice down the line, and discussed this topic a fair amount with my sibling who has an M7 MBA.

Edit: typo

Thanks a lot, you have given me a lot to think about. I’m warming to the idea of just taking MBA classes later on if the need presents itself, though working a biglaw job in addition to taking classes seems quite demanding. Thank you again.