I'm currently in law school (Harvard), worked with a firm that worked with lots of private equity clients during the summer, and realized I'd rather be in PE than in law. If i went the JD/MBA route, would I have a decent shot at PE? I have no IB experience; I did engineering at a low ranked state school. Would I be limited to smaller firms and be better off just gunning for biglaw partner?
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It is possible to lateral from Big Law to IB/PE in the future, especially coming from Harvard Law. Of course my only encounter with such a switch is Mike from Suits, but still.
Sidwell group was a weak exit though. Mike's investment sense wasn't strong enough to make it into real PE.
I'm guessing you discovered what carried interest is?
This isn’t impossible, but would help if you are a 2L right now rather than 3L (and even more if you are a 1L that did SEO).
Its possible, my much worse law school sends 1 or 2 a year to these types of roles (VC and PE) and some with JD/MBAs.
Doing the MBA is likely critical unless you directed all your legal studies towards doing PE/family office/investment fund type work which it sounds like you didn’t.
Lateraling to a PE fund takes a while and a lot of luck, so I’d try to at least set ground work when in school.
Thanks everyone, I'll take a look at adding the MBA. I just started 2L so I have some time at least. Laterals to PE seem increasingly rare, even at V10s I've only heard of people going to a GC type role.
I’d split this summer with your old PE law firm (do like 3 weeks or so) with either MBB/CS/MS /PE of course if you can get it. All of MBB and the two banks mentioned have historically taken law student summers for business roles. I’m assuming that you were at a somewhat reputable firm this summer.
I made the switch from a non-v10 but was pulled up by my law school internships (did Corp dev/family office/PE). Happy to discuss though you will have more options than me for on campus re: banking/consulting.
I’d apply to HBS and MIT as well, I think the split is allowed and if you have no work experience, may be a good hedge while being able to stay in Boston.
It will be tough but you'll have as good of a chance as anyone from Harvard. The problem will be no banking and no PE experience prior to your degrees.
If you could add an MBA and get a few internships under your belt, both during the summer and potentially even during the year (even though I'd imagine that would be tough with the dual degree) that could maybe give you enough to argue for a post JD/MBA PE role.
IF you have any law experience, that could come in handy as well. It doesn't really matter for PE, frankly a JD is overkill for what is needed, but you could spin it into differentiation against other candidates. Plus the JD adds a layer of prestige that PE firms will like.
You have to get into the law and business schools at the same time to get a dual degree. HBS is harder to get into than HLS. Doing the degrees separately will take a lot more time and money. Quite frankly, that's a lot of work and risk just to have a shot at PE. You may even lose interest; PE is not an easy industry. I venture to guess that most leave PE to pursue other opportunities since there are relatively few partners.
I have a friend who was in your position. He used his Harvard Law degree to join a REIT. Not exactly PE, but still investment management. After a few years, he can probably break into REPE. Regardless, money is no object for him anymore. I'm sure you can join a F500 in a non-legal position and work your way up. Who knows, maybe even break into the executive ranks.
You're at HLS. I'm sure you'll learn how to bullshit your way into making people believe whatever your argument is. Use that to your advantage to break into finance.
Good luck.
Agree principally but the note about being accepted to the JD/MBA at the same time is generally incorrect. Most 4y programs allow you to be accepted to the MBA half of the program as late as 2L year of law school and still receive the benefits of reduced schooling.
For people thinking about the JD/MBA, check your school requirements.
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