Instead of MBA, Law School after IB?
hi everyone, i'm writing this post to seek advice from ppl who have been working in the industry for a few years. thank you in advance for your time and comments!
my background - junior in college, major in finance, has an IB internship at BB lined up next summer, interested in HF & PE for the future career path. over the summer, i was talking with friends who are interested in going to law school and becoming a lawyer in the future upon graduation. i'm interested in law and finance, but i'm not sure if it's worth the time/money to pursue the law school path after banking.
question - i know many people chose the MBA path at HBS/GSB/etc. to switch career paths. should i go to law school? also, if i don't want to be a lawyer, what kinds of job can i do given my interest in finance?
THANK YOU!
Most people here will say not to go to law school if you have any interest in finance. That is, only go to law school if your goal is to practice law/be a lawyer. Having a JD will make it harder to get into IB/PE/HF etc.
Thanks for the insight!
Read this https://www.wallstreetoasis.com/forum/school/if-you-are-thinking-about-…
JD/MBA is an option.
Thank you for sharing the article!
If you're talking about adding 1-2 years to the MBA so you get a JD/MBA, that's a tossup. It adds some value, costs some time & money, and you could really go either way on that decision and be right.
If you're talking about law school instead of MBA, it's an easy no. Don't do it. Don't believe the myths of a JD as a "versatile degree". That shit was made up by law school administrators to sell their product. Or in some cases, older people will say it because there was a time back in the day when MBA was still a newer thing and wasn't necessarily the degree of choice in business. So that older crowd will remember a law degree being more respected generally.
But those days are long gone, and a JD is actually one of the least versatile degrees. While many lawyers go on to do other things, it's despite their legal experience rather than because of it. Law attracts a lot of smart people who don't know what to do with their lives, so they waste time in law school/practice only to later figure out who they always were.
I am an attorney who currently works in corp dev at a fortune 300 utility. So I basically have gone through what you are thinking of doing.
Basically any PE/IB/VC role is open to you. You know what Robert Rubin, Lloyd Blankfein, Stephen Friedman, Brian Moynihan, James Gorman, George Roberts, Jerome Kohlberg, David Rubenstein, David Bonderman, Glen Hutchins, Orlando Bravo, Joseph Rice, and Jeff Sine, all have in common? They all went to law school. They were/are CEOs of the biggest banks, of the most important banks. They are some of the most important, some of the most successful, private equity professionals of all time. They were in charge of important teams within the IBD. Law school doesn’t close those types of doors. And, in some ways, it prepares you well for more senior roles within those types of fields.
However, it isn’t easy. It isn’t the most direct way. You will need to be a hardo with significant finance experience before law school. Is it worth it? That requires a much longer conversation.
But it can be done. It has been done. And it will continue to be done
Hi jl12! Thank you very much for this detailed and insightful reply! I really appreciate this.
I personally feel law experience is way more useful than junior IB experiences in preparing something for a senior role in finance.
Let's be real, VDR, NDA/EL, company profiles, teasers are menial tasks that bring very little value for your personal development.
And well, modeling is ok but to be hones, who models as a partner? Get an eagle eye to read through model output / driver is what it takes and you don't have to be a modeling genius or stay in banking for that. It is just most juniors have to pass through this stage of their life.
But if you happen to be a lawyer who knows M&A negotiation, antitrust, etc. very well, that would give you real skills that actually add value to a discussion and you have that way earlier in law than in banking.
It's just law in general is another soul crushing career putting long hours without a life.
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