Career Change into IB - advice appreciated!

I'm considering a career change into Investment Banking or Law and have been thinking about this pivot for a while. Currently, I work in a Big 4 firm as an IT strategy consultant, with some experience in M&A separation/integration.

I recently received an offer to study the Monash JD, which I intend to pursue. My goal is to make the most of the next three years by keeping all doors open—this means applying for banking summer analyst positions, law clerkships, and eventually graduate positions in these fields.

However, I'm concerned that my three years of full-time work experience might make me appear overqualified, and that companies may pass on me for that reason.

1. Does having prior work experience impact my chances, or can I treat the JD as a fresh start?
2. Has anyone else made a similar career switch?

Any advice would be appreciated! Thanks in advance

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