JD or MBA? Forum

[Doubting Law]

I have some experience interning for an IP firm in Houston. My family owns an oil company, and they are sold on the idea of me going to law school after I finish my undergraduate degree (which is a liberal arts degree). So, my question is, is law school worth the hassle, time, and opportunity cost if I can go for free (my family pays for it), and also keep in mind there is 90% chance I will never practice law, and just work for the family business anyway. P.S. My father seems to have the idea that I can do in-house counsel on top of managing sales as well. Would working for a few years and getting an MBA be better?

[FrancisScottKey]

Why not both?!?

[mt2165]

Yes, just do the MBA

[Iam3hunna]

Yes, just do the MBA

Retake.

[XxSpyKEx]

Just get an MBA, if you're not going to practice law. You're not going to be competent enough to work as in-house counsel for your parents' oil company without experience, which you won't get if you go work for your parents' business right after law school (and that's what it sounds like your plan is). In your situation, a JD sounds like a total waste of time and money (even though the money isn't coming directly out of your pocket).

[Doubting Law]

Thank you for the replies. Another thing to consider is the schools I'm looking at applying to are LSU, Southern, Tulane, and Loyola-New Orleans, with Loyola being the school my numbers most competitively align with.

[Nagster5]

Thank you for the replies. Another thing to consider is the schools I'm looking at applying to are LSU, Southern, Tulane, and Loyola-New Orleans, with Loyola being the school my numbers most competitively align with.

Definitely don't go to law school. You don't even want to use the degree, and those schools are terrible. MBA is the way better option for you.

[Doubting Law]

Thank you for the replies. Another thing to consider is the schools I'm looking at applying to are LSU, Southern, Tulane, and Loyola-New Orleans, with Loyola being the school my numbers most competitively align with.

Definitely don't go to law school. You don't even want to use the degree, and those schools are terrible. MBA is the way better option for you.

I guess my only argument for going to law school then is to use the JD as a fall back if/when the oil market completely tanks. Thoughts?

[Londonbear]

Could you see yourself practicing law? If no, then don't. I also agree that you should retake the LSAT and try for better schools b/c those schools are not worth a JD in, so if the oil business tanks, you won't have great exit options either if you were in house or coming from those schools. Besides, if you do an MBA, even if the oil market tanks, you can go to other companies. But for an MBA, you would likely need to get into the top 10 schools for your MBA to really carry weight. But an MBA at those schools are soooooo competitive, and the GMAT isn't an easy exam to master. I actually think the GMAT is more difficult than the LSAT to master in a short period of time.

I don't think it gets emphasized enough that for an MBA to be worth it, just like the JD, you also need to come from a really good school because a lot of the big companies (like bigLaw) hire from there. An MBA from an obscure school will not get you any job prospects either because they have a limited network.

[Doubting Law]

I could see myself practicing, either corporate or PI. But it would not likely be right after graduating. Also, being that I'm from Louisiana, Loyola-New Orleans' reputation isn't bad within the state.

[Nagster5]

Thank you for the replies. Another thing to consider is the schools I'm looking at applying to are LSU, Southern, Tulane, and Loyola-New Orleans, with Loyola being the school my numbers most competitively align with.

Definitely don't go to law school. You don't even want to use the degree, and those schools are terrible. MBA is the way better option for you.

I guess my only argument for going to law school then is to use the JD as a fall back if/when the oil market completely tanks. Thoughts?

It's very difficult to fall back on a JD. People don't want to teach a lawyer who graduated a decade ago new skills, in fact if you're not locked into a job by the time you graduate it gets quickly and progressively harder to find a job in law. You're damaged goods. In addition, the schools you're looking at are unlikely to get you a job as a lawyer anyway, most offer a coin flip or worse at employment. I cannot stress how bad of an idea going to law school is for you, you hit like every part of the traditional "don't go to law school" TLS spiel. You're like a case study. Don't do it.

[Mikey]

If you want to be a lawyer, JD. If not, MBA.

[Doubting Law]

I want to go to law school because I think it would be an interesting experience, and my family really wants me to go, but honestly I feel like I could make way more money not being a lawyer.

[XxSpyKEx]

Thank you for the replies. Another thing to consider is the schools I'm looking at applying to are LSU, Southern, Tulane, and Loyola-New Orleans, with Loyola being the school my numbers most competitively align with.

Definitely don't go to law school. You don't even want to use the degree, and those schools are terrible. MBA is the way better option for you.

I guess my only argument for going to law school then is to use the JD as a fall back if/when the oil market completely tanks. Thoughts?

If hovering around $30-35 a barrel isn't your definition of the oil market tanking, what is? The US shale oil market is horrible right now, and I can't really imagine it getting much worse than this ever really. It's getting to the point where even the Saudi's are getting close to being unprofitable (think I read their cost of production is somewhere around $20-25 per barrel).

Besides, if you do an MBA, even if the oil market tanks, you can go to other companies. But for an MBA, you would likely need to get into the top 10 schools for your MBA to really carry weight.... I don't think it gets emphasized enough that for an MBA to be worth it, just like the JD, you also need to come from a really good school because a lot of the big companies (like bigLaw) hire from there. An MBA from an obscure school will not get you any job prospects either because they have a limited network.

I think it's top 7 for b-schools, not top 10. But that doesn't really matter in OP's case. It'll be more about the work experience at that point than it is about the school he went to. Companies are much less concerned about prestige of your MBA after your first job than lawyers. (Just look at the top execs at F500 companies. Many have top academic credentials, but there's also a lot who don't but instead have a proven track record of superb leadership abilities.) It becomes much, much more about your work experience after your first job. The reason most people go to top MBA programs is because most people don't have an amazing first job locked up for when they get out of school, and getting a top-7 MBA opens a lot more doors for your entire career since your odds at a really great first job are significantly better than if you went to a crappy school. But I agree that it's better to go to the top 7 b-school over a lower ranked school because of the better network. (I mean even if it doesn't do as much for you because you already have that first job after graduation lined-up, it certainly can never hurt you.)

But an MBA at those schools are soooooo competitive, and the GMAT isn't an easy exam to master. I actually think the GMAT is more difficult than the LSAT to master in a short period of time.

This is really more of a personal thing. The GMAT isn't all that different from the LSAT in some respects. The major difference is the quantitative test in the GMAT (which the LSAT doesn't have). If you're really good at math, the GMAT is actually easier than the LSAT.

[Doubting Law]

Thank you for the replies. Another thing to consider is the schools I'm looking at applying to are LSU, Southern, Tulane, and Loyola-New Orleans, with Loyola being the school my numbers most competitively align with.

Definitely don't go to law school. You don't even want to use the degree, and those schools are terrible. MBA is the way better option for you.

I guess my only argument for going to law school then is to use the JD as a fall back if/when the oil market completely tanks. Thoughts?

If hovering around $30-35 a barrel isn't your definition of the oil market tanking, what is? The US shale oil market is horrible right now, and I can't really imagine it getting much worse than this ever really. It's getting to the point where even the Saudi's are getting close to being unprofitable (think I read their cost of production is somewhere around $20-25 per barrel).

Besides, if you do an MBA, even if the oil market tanks, you can go to other companies. But for an MBA, you would likely need to get into the top 10 schools for your MBA to really carry weight.... I don't think it gets emphasized enough that for an MBA to be worth it, just like the JD, you also need to come from a really good school because a lot of the big companies (like bigLaw) hire from there. An MBA from an obscure school will not get you any job prospects either because they have a limited network.

I think it's top 7 for b-schools, not top 10. But that doesn't really matter in OP's case. It'll be more about the work experience at that point than it is about the school he went to. Companies are much less concerned about prestige of your MBA after your first job than lawyers. (Just look at the top execs at F500 companies. Many have top academic credentials, but there's also a lot who don't but instead have a proven track record of superb leadership abilities.) It becomes much, much more about your work experience after your first job. The reason most people go to top MBA programs is because most people don't have an amazing first job locked up for when they get out of school, and getting a top-7 MBA opens a lot more doors for your entire career since your odds at a really great first job are significantly better than if you went to a crappy school. But I agree that it's better to go to the top 7 b-school over a lower ranked school because of the better network. (I mean even if it doesn't do as much for you because you already have that first job after graduation lined-up, it certainly can never hurt you.)

But an MBA at those schools are soooooo competitive, and the GMAT isn't an easy exam to master. I actually think the GMAT is more difficult than the LSAT to master in a short period of time.

This is really more of a personal thing. The GMAT isn't all that different from the LSAT in some respects. The major difference is the quantitative test in the GMAT (which the LSAT doesn't have). If you're really good at math, the GMAT is actually easier than the LSAT.

My family's firm is involved in the chemical supply side of the oil market, so as long as people are drilling somewhere, we're in business. My point is when the time comes that there is no longer a demand for oil, I would like a secondary professional option. Whether that be through a JD or an MBA.

[FlanAl]

If you have a built in job and money isn't an issue I say get yourself a joint JD/MBA from Tulane. Although I know a lot of the people on this site disagree, I actually found the social aspect of law school very rewarding. Go live in New Orleans for a few years and have a good time while learning important stuff. I completely understand the employment angle for most people but for those where money isn't an issue I don't get why you wouldn't just do it, you can always drop out after the first semester if you think it was a terrible mistake.

[IsThisForReal]

Thank you for the replies. Another thing to consider is the schools I'm looking at applying to are LSU, Southern, Tulane, and Loyola-New Orleans, with Loyola being the school my numbers most competitively align with.

Why wouldn't you just go to UHouston?

[Doubting Law]

If you have a built in job and money isn't an issue I say get yourself a joint JD/MBA from Tulane. Although I know a lot of the people on this site disagree, I actually found the social aspect of law school very rewarding. Go live in New Orleans for a few years and have a good time while learning important stuff. I completely understand the employment angle for most people but for those where money isn't an issue I don't get why you wouldn't just do it, you can always drop out after the first semester if you think it was a terrible mistake.

I think that's what I'm going to do. Im applying to every law school in Louisiana, so if I get accepted to Tulane I'll definitely consider the joint JD/MBA program.

[Doubting Law]

Thank you for the replies. Another thing to consider is the schools I'm looking at applying to are LSU, Southern, Tulane, and Loyola-New Orleans, with Loyola being the school my numbers most competitively align with.

Why wouldn't you just go to UHouston?

I've looked into UHouston and I'd entertain the possibility of going to school in Texas or Mississippi but I feel I would be disadvantaged when it comes time to take the crazy ass Louisiana state Bar exam.

[patentlitigatrix]

Why don't you just work for your family's company after graduating and see if you want to get an MBA later? You may never need one anyways if you keep working in the family business, and if you decide you want to leave the business or the business isn't doing well, that would be a great time to get the MBA and then transition to another company.