Would a JD/MBA be good added value in a career in Finance?
Hopefully interning for a Boutique Bank this summer for Junior year internship. Assuming I get an FTO… would it be a good idea to consider pursuing a JD/MBA at night during the first few years of my career? I think it could be a good added value but idk
It would be a terrible idea
Based on the most helpful WSO content, a JD/MBA can indeed add value to a career in finance, but it's not a one-size-fits-all answer. It really depends on your long-term career goals.
If you're looking to climb the corporate ladder in finance, an MBA can provide a solid foundation in business and management principles, which can be very beneficial. On the other hand, a JD can provide a deep understanding of the legal aspects of business and finance, which can be particularly useful if you're interested in areas like corporate law, mergers and acquisitions, or regulatory compliance.
However, pursuing a JD/MBA is a significant investment of time and money, so it's important to consider whether the potential benefits outweigh the costs. It's also worth noting that working full-time while pursuing a degree can be quite challenging, so you'll need to be prepared for that.
In terms of timing, some people find it beneficial to gain a few years of work experience before pursuing further education. This can help you better understand your career goals and how a JD/MBA might help you achieve them.
Remember, there's no single "right" path in finance, so it's important to consider your own interests, goals, and circumstances when making these decisions.
Sources: What offers would you take over a BB S&T?, Q&A: Former Strategy& associate, Corporate Finance Q&A with accountingbyday, BJM85, STorIB, and djfiii, Is this a feasible plan to get into investment banking with an accounting background?
Really, really bad idea.
DM Mark Moran. He was JD/MBA into CVP into reality show contestant
How is getting an MBA a bad idea? If you want to go up in a PE firm don't most of them want you to get an MBA before becoming VP?
Most don't in 2023... and the one's that do aren't looking for someone with a night-MBA they're looking for someone from HSW to come post-associate
MBAs provide value if you're at a top 10-15 school (Harvard, Booth, Wharton, etc.) and do a great job at growing your professional network base. I've heard that people don't learn a ton at MBAs. If you'd like something outside of the networking angle, JDs are excellent, especially in finance, as they give you the fundamentals on how to examine contracts, agreements, etc. and can really add value to clients as you move up. A former MD of mine had his JD and would call out things on credit agreements & SPAs that looked goofy and the legal team could have over looked - there's value right there. It also helps translating the economics in the deal into legalees and making sure everything ties out, which provides great value to clients. Cost of MBAs/JDs can be a factor here too, as well as opportunity cost (if you're going to stay in banking, you don't really need an MBA anymore to move up and you'd waste two years of earnings potential). From my view, if you want one or the other, choose JD. If you want both, ask yourself where you want to be in 5-10+ years. It may not be needed
A few things:
This is a long winded way of saying I really wouldn’t recommend it. Below are the only situations I think it makes sense:
Then it could be credentialing that lasts a long time. The big question I really would ask for many of these though is:
would you rather spend 4 years and have a jd/mba or spend 2 years being a private equity analyst or investment banker and have an mba?
Work experience at an elite firm > an elite academic institution
Almost always.
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