J.D. = Post-M.B.A. Associate?

I know from perusing the Wikipedia pages of bankers such as Erin Callan and Lloyd Blankfein that lots of lawyers lateral to banks. But, I have yet to see, with my extremely limited experience, a banker freshly minted from law school. What are the rules for lawyer-bankers? Do you have to be a ball hard corporate lawyer or can you go straight into an associate role sans Bar Exam? Thanks in advance for any information.

WSO Elite Modeling Package

  • 6 courses to mastery: Excel, Financial Statement, LBO, M&A, Valuation and DCF
  • Elite instructors from top BB investment banks and private equity megafunds
  • Includes Company DB + Video Library Access (1 year)

Comments (5)

Jul 5, 2013 - 10:08pm

Blankfein started his carrier in S&T on the sales side. The same is true of Harvard J.D. graduate Jim Cramer.

The short answer is that a J.D., while far from useless, is not necessarily going to open as many doors relative to the cost and time of obtaining it as an MBA would. If already have a J.D. I would suggest you look for jobs in S&T or PWM. Also networking is going to be key.

BTW, Cramer and Blankfein started out their careers as attorneys, but switched to S&T because they hated working at law firms.

"He that hath a beard is more than a youth, and he that hath no beard is less than a man." ― William Shakespeare, Much Ado About Nothing
Jul 5, 2013 - 11:54pm

law/mba -> associate position? (Originally Posted: 06/23/2007)

Hi:

I will be starting my first year of law school at UWO (Canada), and will be applying for admission to the joint law/mba degree offered with the Ivey business school.

I was wondering if it is possible to obtain an IBD associate position if one has their MBA w/out any prior banking experience. I do have some decent w/e in asset management and also with a small start-up Canadian hedge fund - none of it entailed any hardcore number-crunching stuff, though.

Thanks.

Start Discussion

Total Avg Compensation

April 2021 Investment Banking

  • Director/MD (9) $911
  • Vice President (35) $364
  • Associates (188) $234
  • 2nd Year Analyst (107) $150
  • Intern/Summer Associate (96) $145
  • 3rd+ Year Analyst (26) $145
  • 1st Year Analyst (392) $132
  • Intern/Summer Analyst (323) $82