JD, or work in econ consulting for another year? Forum

[hundredyears]

I'm currently in my first year of work at a top 3 economic consulting firm (different from management consulting, as many will know but some might not). I have a few different questions. I want to go to law school but am increasingly interested in coupling it with a business degree because I feel it may offer additional job security, and because my current firm places quite well into business schools (though it will not sponsor the cost of business school). My numbers are 3.86/173.

1. If I want to get a JD/MBA, should I work another year? I know that some MBA programs recommend two years of work experience, but that it isn't absolutely necessary. Would the extra year of work experience boost my chances of getting into a top law school at all?
On the other side, I worry that the extra year of work may shaft me for financial aid to a degree that overwhelms the actual benefits of earning for another year, but I freely admit to knowing little about that process.
2. Will my work experience in a high-pressure job help me at all during recruiting for law firms, or is that whole process a blank slate and largely dependent on law school rank/GPA at that point?
3. I know that some JDs end up at consulting firms after law school. Will my work experience in consulting help me during that recruiting process, or will it not matter because I only spent one year in the industry? What do consulting firms even look for when they search out prospective candidates in law schools?

Oh, and if you think a JD/MBA isn't a wise investment, feel free to say so as well!

[B.B. Homemaker]

Take the extra year. Put away a bit to supplement the law school budget, and get some more experience under your belt, especially if you're not sure you want to go directly into law after. Stories for interviews are always good things to stockpile.

And re: financial aid, with your stats (and perhaps an even higher retake) you should be getting money from several T14s regardless. It might not be as big a killer as you think to have a couple bucks in your pocket when you take three years off to earn negative thousands of bucks.

ETA: and I don't think the JD/MBA is a bad idea, though a law firm might question how law fits into your career plans. But if I had a dollar for every JD in my class who raced to submit an app for the JD/MBA program after 1L fall, I'd be...idk, having chipotle tonight or something.

[hundredyears]

But if I had a dollar for every JD in my class who raced to submit an app for the JD/MBA program after 1L fall, I'd be...idk, having chipotle tonight or something.

So, this is another question I have. Is it easier for someone to get into the MBA program if they are already in the JD program? Also, are many of these people K-JDs, and if so, would my work experience give me a leg up?

[B.B. Homemaker]

But if I had a dollar for every JD in my class who raced to submit an app for the JD/MBA program after 1L fall, I'd be...idk, having chipotle tonight or something.

So, this is another question I have. Is it easier for someone to get into the MBA program if they are already in the JD program? Also, are many of these people K-JDs, and if so, would my work experience give me a leg up?

I have no idea if waiting to apply for the MBA until 1L would be a boost or not, but I feel very confident that having good work experience will put you in a much better spot than the K-JD 1L applying at the same time.

Personally, having to deal with the stress of 1L fall + the 1L job search + the looming decision release for the first round of MBA admissions, which could make the job search either useless or extremely important, sounds like pure hell. I'd give it a lot of thought and apply to both from the start, if that's what you want.

[didntgo89072014]

I work in the same industry. I would not apply your first year out if you are at all interested in an MBA. There is less than 5 people at the top business schools with one year or less work experience upon matriculation. You probably won't be one. Give yourself at least 2, preferably 3 years until you apply for an MBA, either as a joint degree or on its own. In 3 years, with a 750+ GMAT and some volunteer work and outside projects, you'll be a good candidate for JD/MBA at HBS or GSB.

If you just want the JD, go for law school any time. I would recommend waiting another year or two to really flesh out your experience and gain stories you can tell during OCI, etc., but I'm sure you can make it work now anyway. I think your work experience will be an advantage but one year is not as impressive as 2 or 3. Hope this helps.

[twenty]

If you're going to do the JD/MBA, ED to Northwestern once you have two years of work experience (especially with your numbers). Aside from almost certainly getting the full ride from the law school portion, you then stand to have an even better shot at getting into Kellogg. You're probably not getting a full ride at any other school with a top MBA program attached; either the law school won't offer you enough money to justify the cost (i.e, Chicago, HYS) or the business school will just be too damn hard to get into even with your stats. (i.e, Wharton)

I think you'd be better off pursuing both separately, though. Even two years of work experience for a top MBA is the exception, not the rule. If I were in your shoes, I'd attend the highest-ranked/lowest cost law school (which for you will probably be north of a full ride at Cornell) that gives you biglaw with no debt, work there for 2-3 years, and then use the MBA to "escape" into a more niche business-y field you want to be in. The extra year it takes for you to complete your MBA, or at least, the year you don't "save" by pounding out the JD/MBA is a worthy cost when the MBA isn't wasted on a slightly improved chance at biglaw.

[FanOfPosner]

Hi Hundred!

I've given this question some thought as well; I'm a first year analyst at an economic consulting firm, and going to law school in the fall. (Are there rankings? What are top 3?) I'm also somewhat business-oriented, and for me it's come down to one question: Is practicing law what I want to do?

If the answer is yes, then go to law school now. It's better to take the debt now than later, and law schools don't care too much about work experience. With your numbers, you're set. (I'm likely going to apply for business school this fall, just to see, but I for sure want to practice, so if I don't get in, I won't be heartbroken.)

If the answer is no, then don't go to law school; just figure out how to best position yourself for business school. The extra two years of debt isn't worth it just to have a JD.

If the answer is maybe, stay put. The great thing about economic consulting is the exposure to litigation. I feel like for most people, it ends up either completely affirming or completely destroying any interest in law school. If you want business school for sure, econ consulting is good prep and more work experience is going to help you get in. And if you decide both of those options are actually not for you, hopefully you'll have picked up useful and thoroughly employable skills (SAS? SQL? General data analysis?)

Feel free to PM me! (I really want to know if you're in my firm. Does FYAT mean anything to you?)

[hundredyears]

Thanks for all the replies, everyone! I'm also thinking about it from this end: I either spend an extra year consulting right now (making ~$80) or go to law school earlier and spend that extra year saved working in biglaw (~$100+). Given that I have to go to law school and assume that debt eventually, why wouldn't it make more sense to go to law school a year earlier to substitute that earlier year of making $80 for a later year of $100?

[jbagelboy]

funny I only knew 2-3 people who were considering jd-mba

[twenty]

Thanks for all the replies, everyone! I'm also thinking about it from this end: I either spend an extra year consulting right now (making ~$80) or go to law school earlier and spend that extra year saved working in biglaw (~$100+). Given that I have to go to law school and assume that debt eventually, why wouldn't it make more sense to go to law school a year earlier to substitute that earlier year of making $80 for a later year of $100?

That's a fine idea if you're not planning on the JD/MBA or at least are willing to pursue the MBA a ways down the road.

[August Wilson]

Thanks for all the replies, everyone! I'm also thinking about it from this end: I either spend an extra year consulting right now (making ~$80) or go to law school earlier and spend that extra year saved working in biglaw (~$100+). Given that I have to go to law school and assume that debt eventually, why wouldn't it make more sense to go to law school a year earlier to substitute that earlier year of making $80 for a later year of $100?

You could aggressively save your salary now and over the next year, lowering your cost for law school and need for debt and then have a larger portion of the 100k+ salary left over once you start in big law.