Is it worth getting a tax llm? Forum

[Allegro3935]

Take a law student really interested in tax law. Should they go to NYU/UF/GULC to get a tax llm? Or is it sufficient to load up on tax courses in law school and try to find a tax job right after law school.

I'm on the fence here. On the one hand, one extra year in school doesn't necessarily mean someone will make a better tax lawyer than someone who didn't do the extra year. Plus it costs money and time. On the other hand, lots of job postings either require or "highly recommend" a tax llm. I'm confused.

[crazywafflez]

What school are you at now? You can certainly be hired into a tax group with a T14 degree and expressing interest in tax without the LLM. The LLM helps if you didn't go to a T14 or T20 and will show you are purely interested in tax.

[nixy]

Common wisdom is that a tax LLM is the only one that’s a reasonable return on investment. Whether or not it actually makes a substantive difference to someone’s lawyering ability isn’t the same as whether employers want you to have them.

That said, it is a complex and technical enough field that the extra year could be useful. I’ve also seen people get work as a tax attorney and then go back and do the LLM, so it’s not like you have one shot to decide.

Anecdotally, the three tax lawyers I know all have tax LLMs, though it’s also true than none of them went to a T14, so.

[Allegro3935]

Interesting. So I attend a regional T50 that only places 1/3 into Big Law. I'm just below median with no chance of reaching that top third. Not that I am Big Law-or-bust, but my options don't look too appetizing at this juncture. My grades are mediocre at best. No law review to speak of. All my internships and externships are in public interest-type organizations (think PD, prosecution, legal aid) because I couldn't get anything else. Although these are noble pursuits, they don't pay the bills. I figured getting a tax LLM would help me get a foot in the door for a well-paying firm that deals with tax issues, the Big 4, or a federal position with the IRS or D. of Treasury.

It would be unfortunate to get a tax LLM and later find out that it was unnecessary for my goals.

[nealric]

Most likely, a Tax LLM would give you a shot at the Big4 (no guarantee). Failing that, you'd be looking at some sort of tax consulting or a smaller firm. It's a bit of a high risk, high reward gambit in your case given that Georgetown/NYU/Florida LLMs aren't cheap. It might help if you have an accounting background, as that would make you a stronger candidate for non-Big4 accounting firms if you miss the Big4 boat.

I'd also caution that not all Big4 offers are created equal. The Washington national tax offices are generally a much bigger career boost than a secondary city transfer pricing office (and also typically pay more).