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Is LLM in taxes a waste of time? Or does it increase pay?
Posted: Mon Mar 16, 2015 3:24 pm
by streampaw
My boyfriend wants to do LLM in taxes at UW. He already goes to law school, but it's not a top law school or anything (just a regular law school, not anywhere in the top lists, it's not in Washington). He is already in a lot of debt from undergrad and law school, but he says if he does the LLM (which is one year
after law school), he would get a good starting salary of like 80k-100k. But I don't believe him, is this true? He wants me to do more research about it, so here I am, doing research.
But I tell him, maybe he should just get a job in tax law right after regular law school? Can he do that? Or does he absolutely need this LLM? I don't want him taking on more debt, he already has a lot.
Re: Is LLM in taxes a waste of time? Or does it increase pay?
Posted: Mon Mar 16, 2015 3:29 pm
by Johann
He has an almost 0 chance of getting a job in tax law from a shitty school. UW isnt the best LLM program but it should open up doors at the local accounting firms.
It's more debt, but truth of the matter once you hit a certain debt threshold, the incentive is to keep going. If his job prospects are $45k per year in shitlaw at $150k debt or $200k + debt at $75k salary, I'd choose the LLM. Not a guarantee, but really nothing to lose if his employment options suck.
Re: Is LLM in taxes a waste of time? Or does it increase pay?
Posted: Mon Mar 16, 2015 7:54 pm
by Aeon
If you absolutely need an LL.M., then chances are that you were not competitive for that job in the first place. Granted, a tax LL.M. may be a useful credential to have in some circumstances, and is a gatekeeper for some highly specific positions like Tax Court clerkships, but the market out there is tough.
If your boyfriend is able to find a job in tax law with only a J.D., it might make sense to do that and then get an LL.M. part-time. In addition to the sheer cost of the degree, there is also the opportunity cost to not working for a year. Doing an LL.M. program just because one is unable to find work is usually a bad idea.
Also, obligatory LL.M. flowchart (with the caveat that an LL.M. from a local school may help in smaller, insular markets):

Re: Is LLM in taxes a waste of time? Or does it increase pay?
Posted: Wed Mar 18, 2015 3:54 pm
by nealric
streampaw wrote:My boyfriend wants to do LLM in taxes at UW. He already goes to law school, but it's not a top law school or anything (just a regular law school, not anywhere in the top lists, it's not in Washington). He is already in a lot of debt from undergrad and law school, but he says if he does the LLM (which is one year after law school), he would get a good starting salary of like 80k-100k. But I don't believe him, is this true? He wants me to do more research about it, so here I am, doing research.
But I tell him, maybe he should just get a job in tax law right after regular law school? Can he do that? Or does he absolutely need this LLM? I don't want him taking on more debt, he already has a lot.
I am a tax lawyer with an LLM. He has an outside chance of making $80k at an accounting firm with such a degree, but he is not being realistic.
Re: Is LLM in taxes a waste of time? Or does it increase pay?
Posted: Mon Mar 23, 2015 1:01 am
by twenty
I'd be interested to know how Northwestern's tax LLM shapes up. It seems like they've put a lot more effort into that program as of late.
Re: Is LLM in taxes a waste of time? Or does it increase pay?
Posted: Tue Mar 24, 2015 9:16 am
by Aeon
twenty wrote:I'd be interested to know how Northwestern's tax LLM shapes up. It seems like they've put a lot more effort into that program as of late.
I think Northwestern will have a tough time breaking into the trinity of top tax programs. NYU, Georgetown, and Florida have a considerable first-mover advantage.
Re: Is LLM in taxes a waste of time? Or does it increase pay?
Posted: Tue Mar 24, 2015 9:20 am
by DELG
streampaw wrote:My boyfriend wants to do LLM in taxes at UW. He already goes to law school, but it's not a top law school or anything (just a regular law school, not anywhere in the top lists, it's not in Washington). He is already in a lot of debt from undergrad and law school, but he says if he does the LLM (which is one year after law school), he would get a good starting salary of like 80k-100k. But I don't believe him, is this true? He wants me to do more research about it, so here I am, doing research.
But I tell him, maybe he should just get a job in tax law right after regular law school? Can he do that? Or does he absolutely need this LLM? I don't want him taking on more debt, he already has a lot.
You should probably dump the boyfriend.
Re: Is LLM in taxes a waste of time? Or does it increase pay?
Posted: Tue Mar 24, 2015 9:33 am
by Johann
Aeon wrote:twenty wrote:I'd be interested to know how Northwestern's tax LLM shapes up. It seems like they've put a lot more effort into that program as of late.
I think Northwestern will have a tough time breaking into the trinity of top tax programs. NYU, Georgetown, and Florida have a considerable first-mover advantage.
I think northwestern has already passed Florida everywhere that isn't Florida. Gtown still has the edge in DC but NW is closing the little gap there too.
Re: Is LLM in taxes a waste of time? Or does it increase pay?
Posted: Wed Mar 25, 2015 3:07 pm
by nealric
JohannDeMann wrote:Aeon wrote:twenty wrote:I'd be interested to know how Northwestern's tax LLM shapes up. It seems like they've put a lot more effort into that program as of late.
I think Northwestern will have a tough time breaking into the trinity of top tax programs. NYU, Georgetown, and Florida have a considerable first-mover advantage.
I think northwestern has already passed Florida everywhere that isn't Florida. Gtown still has the edge in DC but NW is closing the little gap there too.
I think it's pretty regional. Even Florida isn't really on the map for many tax lawyers. No idea what things are like in Chicago.