Thoughts on joint degree (MBA)

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tenpercent

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Thoughts on joint degree (MBA)

Post by tenpercent » Sat Dec 05, 2020 2:12 pm

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!

namefromplace

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Re: Thoughts on joint degree (MBA)

Post by namefromplace » Sun Dec 06, 2020 10:49 pm

I know a guy with a JD/MBA at an M7 who started out in BigLaw and is now in the GC's office for a private equity group. He says he likes having his MBA because it gives him a bit more weight in meetings regarding company strategy. The actual significance of that weight, though, is immeasurable.

I think this depends on a bunch of factors--how long you plan on staying in BigLaw (which you honestly can't predict), your current financial obligations, the MBA program at your school, and pre-law school connections you have that could also help you shift over to the business side of things. I wouldn't say it's a waste of time to get a JD/MBA like some people in this forum would, but its use is limited, and there's a decent chance that you go through your career without ever really using it.

absolutealpha

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Re: Thoughts on joint degree (MBA)

Post by absolutealpha » Thu Dec 24, 2020 10:20 am

First, to save time/money, can you find a program that allows for a JD/MBA in 3 years? Many schools allow this now.

Second, I don't think there's much benefit to actual learning in an MBA program, except perhaps finance/accounting if you don't have this background. Nor does it really help you learn how to be a business person (much better to have actual work experience). However, I think an MBA degree will be great later down the line to develop connections -- whether that's as an aspiring partner generating business, or finding opportunities to go in-house or into a business role. That's probably the biggest benefit.

If you can do it in 3 years, definitely worth it. If it takes another year and more $, more questionable. Payoff will be in 5-10 years, not any time shortly after graduation.

logan3000

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Re: Thoughts on joint degree (MBA)

Post by logan3000 » Thu Dec 24, 2020 11:13 am

absolutealpha wrote:
Thu Dec 24, 2020 10:20 am
First, to save time/money, can you find a program that allows for a JD/MBA in 3 years? Many schools allow this now.

worth noting that a lot of schools that offer this still charge enough extra for it that makes it close to what it would cost if done in 4 years, so it's not a given that it would save any $ (besides the saved opportunity cost though which is significant)

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