Penn or UChicago JD/MBA vs BB Analyst Stint

if you want to do finance, take the analyst stint. if you think you might want to be a lawyer, then jd/mba.

JD/MBA will always be there. You've done well on both the LSATs and GMATs, but while your resume would look great b/c jd-mba, you'd still be missing work experience. You might not place as well as you could if you waited 2-3 years to do the JD-MBA. The JD-MBA is also a shit load of $.

I guess I'm just afraid of getting canned six months into my analyst stint. There have been an absurd number of analyst layoffs, and I guess I'd like to ride out the storm and eventually re-enter the fray when things improve.

Why are you so confident you can do the JD/MBA? My assumption would be you have to be admitted to Wharton/Booth as well in order to do that, and neither of them are exactly easy to get in to.

Yeah, that's what I was going to suggest. Ask Penn to defer your admission by a year. If you tell them it's because of financial issues, I have a feeling they'd be willing to do it, although I'm not entirely certain.

http://www.law.upenn.edu/prospective/jd/faq.html#defer

I'm in law school at a simliar school (Harvard/Yale/Stanford) and I can tell you that the JD/MBA does open doors (my buddy is doing it at Stanford with an undergrad English major and no work experience and he got offers this summer at Morgan Stanley SF, Lazard, and a bunch of restructuring shops) but the work experience would really let you have the world by the balls. When alums in high finance come back to speak, students hoping to do the same are almost always dissapointed to learn that the alums did two years at Goldman before law school, and that's why they were so appealing to PE and HF after law school. Granted, these folks don't always have the MBA. But really, do banking, even if only for a year. Your school will defer, and you'll enjoy school more after you've been away a while.

If you're interested in high finance, then take the analyst gig. Plus, your odds for being accepted into the MBA program are pretty low without any work experience. In the worst case scenario where you did get laid off, you can always go back to law school (I think LSAT is valid for 5 years). While their site doesn't say it, I know they've done 2-year deferrals before for IB analyst programs.

Work experience > graduate school IMHO

I'd take Penn Law School (especially in this environment)...but then I'm too risk averse to touch finance with a ten foot pole. And plus I want to be a lawyer anyways.

It really depends on your situation and your future goals. But I don't see any value in doing a JD/MBA if you want to stay in IB and If you're sure of it. IB associates aren't lawyers, they're not expected to know the law. That's what the lawyers are there for. If you find yourself choosing or flip-flopping between IB and corporate law, then I don't know what to say.

"We are lawyers! We sue people! Occasionally, we get aggressive and garnish wages, but WE DO NOT ABDUCT!" -Boston Legal-

More than a few of the folks in my group had JDs; they often transitioned into IB after spending a year or two at a big law firm doing work related to the industry group. However, considering how relevant regulation is (and certainly will be), I suspect that this isn't the case for other groups.

Only an idiot would attend law school for the sole purpose of being a banker; I'd be happy as an M&A lawyer. However, plenty of the most successful bankers (Lloyd Blankfein, Robert Rubin, Bruce Wasserstein, Ray McGuire, among others) went to law school, so I don't know that that option would be closed to me down the line. However, unless I get Chicago or get off the waiting list at Columbia, I'm going to be an analyst next year.

Thanks for the insight everyone.

Edit: And the plot thickens. I just got into the University of Chicago with a 65k scholarship. I have no idea what the fuck I'll end up doing at this point.

Given all the shit talking you have done on this site Mr. ChealseaFC, one would think you are a big-dick slinging MD. JD/MBA's are a waste of 4 years. Congradulations on the scholarship though, they must have needed "diversity"

But you may want to consider meeting with a counselor at either school and telling them. Rarely, you can apply and get a deferral, though usually it's for one year and offered in extreme situations, but you'll never know unless you ask.

if you can get into the program, DO IT...once you get a JD/MBA, you will be in a much stronger position in terms of job safety and pay as well. look at the top C-level executives. a good number have jd/mbas. even if you can't get it deferred, i'd still take the opportunity.

not sure about Booth by itself, but it's worth a consideration.

here is why you shouldn't take the analyst gig: 1) you don't know if you'll be fired a few months into the job. 2) pay is shit, and will be shit for the foreseeable future 3) there are thousands of people with BB experience currently unemployed with more experience than you. what makes you think you'll get a job over them if you get fired?

ChelseaFC85:

suspect that law school would be intellectually stimulating and could provide for a sophisticated understanding of regulation within the financial markets.

What the elephant guy said makes perfect 100% sense. So this is what you do. Sign on to the analyst position, but get a deferral at Penn. It doesn't seem too difficult (2-year is even available):

PennLaw:

If you are admitted and wish to defer your admission, you must submit a written request to the Dean of Admissions stating your reasons for wanting the deferral. One-year deferrals are typically granted for reasons such as work, finances, completion of a graduate program, or extenuating circumstances, such as illness or injury. Two-year deferrals are granted only if you are enrolled in a two-year program such as Teach for America, Peace Corps, or have a military commitment.

Work at the Analyst position for 1 (or 2) years. Then go to Penn Law. Having BB analyst experience and Penn Law would put you in a great position for Associate recruiting- catapult you to the top of the list among all the other lawyers who want to do banking. And If you can actually secure JD/MBA you would be ABSOLUTELY golden.