Comments on: Should You Get Both An MBA And A Law Degree? http://www.freethedrones.com/blog/2006/12/06/should-you-get-both-an-mba-and-a-law-degree/ A personal finance blog dedicated to achieving financial freedom for those drones slaving away in jobs they hate. Mon, 24 May 2010 01:48:30 +0000 hourly 1 http://wordpress.org/?v=3.1.3 By: jdt9k http://www.freethedrones.com/blog/2006/12/06/should-you-get-both-an-mba-and-a-law-degree/comment-page-1/#comment-53555 jdt9k Wed, 31 Oct 2007 18:27:21 +0000 http://www.freethedrones.com/blog/2006/12/06/should-you-get-both-an-mba-and-a-law-degree/#comment-53555 A Businessweek article in 1995 examined salary figures for UVa graduates with an MBA and JD. It found no differences. The programs are popular because of all sorts of anecdotal reasons, but I have yet to see salary or promotion figures at time of graduation, or even 5 years out, that would justify the added expense and time. So you would be working very hard for little added benefit. The one exception might be if you are hoping to work in a highly technical field, such as international petroleum long-term finance, for third-world oil fields financed primarily through American markets. A Businessweek article in 1995 examined salary figures for UVa graduates with an MBA and JD. It found no differences. The programs are popular because of all sorts of anecdotal reasons, but I have yet to see salary or promotion figures at time of graduation, or even 5 years out, that would justify the added expense and time. So you would be working very hard for little added benefit.

The one exception might be if you are hoping to work in a highly technical field, such as international petroleum long-term finance, for third-world oil fields financed primarily through American markets.

]]> By: kirkwalsh.com » Blog Archive » The Carnival of Personal Finance http://www.freethedrones.com/blog/2006/12/06/should-you-get-both-an-mba-and-a-law-degree/comment-page-1/#comment-669 kirkwalsh.com » Blog Archive » The Carnival of Personal Finance Sun, 10 Dec 2006 20:13:37 +0000 http://www.freethedrones.com/blog/2006/12/06/should-you-get-both-an-mba-and-a-law-degree/#comment-669 [...] Kevin Kneupper presents Should You Get Both An MBA And A Law Degree? posted at Free the Drones, saying, “A post on whether it’s a smart financial move to get both an MBA and a law degree.” [...] [...] Kevin Kneupper presents Should You Get Both An MBA And A Law Degree? posted at Free the Drones, saying, “A post on whether it’s a smart financial move to get both an MBA and a law degree.” [...]

]]> By: kneukm03 http://www.freethedrones.com/blog/2006/12/06/should-you-get-both-an-mba-and-a-law-degree/comment-page-1/#comment-559 kneukm03 Thu, 07 Dec 2006 02:27:03 +0000 http://www.freethedrones.com/blog/2006/12/06/should-you-get-both-an-mba-and-a-law-degree/#comment-559 I think the theory is that you're learning about the basics the businesses you're going to be advising. A lot of people who go this route end up doing transactional work if they practice law - writing contracts, handling mergers, etc. There's probably some benefit to that if you don't have much experience in business or finance. I also know that many consulting firms hire lawyers, and in that case an MBA could help. But it's not a particularly big pool of potential jobs, and you have to be on the upper end of things gradewise to do that. And for most legal jobs, I don't think an MBA gives you much weight. It's a bonus to your resume, but not a big one. One thing I'd add is that people who aren't out of college yet should see if their school has a finance or accounting program. You won't get as good an education as with an actual MBA - but having one of those as your major would give you the background knowledge without forcing you to get both graduate degrees. I think the theory is that you’re learning about the basics the businesses you’re going to be advising. A lot of people who go this route end up doing transactional work if they practice law – writing contracts, handling mergers, etc. There’s probably some benefit to that if you don’t have much experience in business or finance. I also know that many consulting firms hire lawyers, and in that case an MBA could help. But it’s not a particularly big pool of potential jobs, and you have to be on the upper end of things gradewise to do that. And for most legal jobs, I don’t think an MBA gives you much weight. It’s a bonus to your resume, but not a big one.

One thing I’d add is that people who aren’t out of college yet should see if their school has a finance or accounting program. You won’t get as good an education as with an actual MBA – but having one of those as your major would give you the background knowledge without forcing you to get both graduate degrees.

]]> By: Lazy Man and Money http://www.freethedrones.com/blog/2006/12/06/should-you-get-both-an-mba-and-a-law-degree/comment-page-1/#comment-558 Lazy Man and Money Wed, 06 Dec 2006 23:35:54 +0000 http://www.freethedrones.com/blog/2006/12/06/should-you-get-both-an-mba-and-a-law-degree/#comment-558 I've seen more than a few joint law and MBA degrees, so I would think it must have some benefit. As you suggest, she should go for one of these if she wants to take path. I’ve seen more than a few joint law and MBA degrees, so I would think it must have some benefit. As you suggest, she should go for one of these if she wants to take path.

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