Law School vs Masters in Finance

Hello my Fellow Monkeys,

Currently a non-target Accounting Major and have accepted the fact that I will not land a Finance job, thus marks the reason why I have chosen job security instead, pursuing Accounting. However, my school has a Law School and a Master's in Finance program.

If I pursue Law School, I may able to enter the field of Tax Law and if I pursue my master's in Finance, I would be able to be an Actuary and work in Risk Management (have you seen Margin Call? Lol). Although it is not Investment Banking, it is still pretty attractive.

I am torn between the two, and if you were me, which path would you take? I'd like input from my fellow monkeys. Thanks all.

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Comments (6)

Most Helpful
Aug 15, 2021 - 6:27pm

LOL OP you're so misinformed that I can't tell if this is a troll post

Law School - Law school is 3 years, intense, and only people from the top law schools and great grades get good jobs. A non-target law school will guarantee you more debt, 3 years of opportunity cost, and bleak job opportunities. 

Master of Finance - Same as law school. Masters of Finance from a non-target will get you nothing but extra debt.

Are you 100% sure you want to be an actuary? How many mathematics and statistics classes have you taken? I think you're already able to take one of the actuarial exams. Give that exam a try and see how you like it. Life as an actuary is not for the faint of heart; you'll have to study for 4-5+ years while balancing your full-time job in order to pass really hard exams. Your job will also require you to pass them. In some firms, failing exams hold you back from progressing, and may even lead to getting fired.

To me it sounds like you don't know what you want, which is why I URGE you not to rush into enrolling in another educational program. Instead, find any finance job, even if it's an operations role. Hopefully, you'll have work-life balance, and you can use that time to study hard for the gmat or learn useful skills that will help you in getting the job that you want. Just passing CFA Level 1 will help in getting analytical jobs because employers will assume you have some base fundamentals/work-ethic. 

You already have one non-target degree, do not waste any more time/money on non-target degrees. Any degrees moving forward should be brand-name schools. Taking 1-2 years to ace a gmat in order to enroll into a top-tier school is much better than attending a non-target program.

  • 5
Aug 15, 2021 - 6:46pm

I understand when you say that you don't know what you want, but I might as well spend money on a non-target degree because I need to pass the CPA Exam which requires 150 cr. and can't afford target degree tuition. I currently work while in school (I'm a non-traditional student) and I believe that becoming an Actuary is the only way to "make it" in my situation. I really appreciate your input and have put some of it into consideration.

Aug 15, 2021 - 7:05pm

I see what you mean when you ask me to find a finance job. Maybe that may be the breakthrough that I need. If done properly, I might be able to be accepted into Michigan Ross. I come from that much of a non-target. So I have two avenues, either the actuarial route, or the Finance -> MBA route. Thanks for the advice. I really appreciate it. 

Aug 15, 2021 - 7:18pm

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