PE -> JD/MBA: How to fill the summers?

For those who choose to go this route, how do they usually try to manage their internships? I imagine most don't just go Finance/Finance/Finance their three summers (assume a 4 year program), but I also assume that last summer has to be Finance if you're looking for an "exit" back into PE/HF (perhaps even at the same firm). So is Finance -> Law/Policy -> Finance more typical? What are other possible paths?

 

Generally, the curriculum for a JD/MBA program starts with year 1 at the law school (1L). Then you'll switch over the the business school for the entire second year. The remaining two years are generally split, with most of your time at the law school. Because the first year is at the law school, most JD/MBA students find a summer position in the legal field after 1L unless you can work a deal with your current employer to come back over the summer. It's more common to transition from Legal --> Legal/Finance (e.g., corporate counsel) --> Finance throughout the summers.

 

The best resumes I've seen from JD/MBA guys at Harvard or Stanford have been the following:

BB IBD summer analyst > senior year > MBB internship > 1L > BigLaw internship > 2L > MF PE internship > 3L > elite HF

1 year work experience in brand-name public policy/nonprofits > 1L > MBB internship > 2L > BigLaw internship > 3L > MF PE associate

1L > BB IBD summer associate > 2L > MF PE internship > 3L > MF PE associate

These guys were all monsters. I wondered why they were okay spending so much time in school, but I understand different people pursue different paths. While all three were guys I'd gladly have had at a desk next to me as a colleague, only one seemed to have a real social life and be a guy I'd invite to stuff outside of work.

To answer your question, I think that the route varies based on the individual. If you were pursuing the JD/MBA directly out of undergrad, you're working with more lead time and can thus plan accordingly (like the first guy's profile I shared). If you worked after undergrad and decided to return to school for a combined program, you'll probably follow broam's comments and pursue internships related to the course of study in each academic year.

One thing I'd add anecdotally is that the brand of the school seems to matter more with the JD/MBA than anything else. The deviation in outcome between people at H/S vs. also great schools like Penn, Columbia, Northwestern, Chicago, etc. that round out what's generally thought of as the most elite schools was surprising to see.

It's tough: you have to mesh the M7 (MBA) against the T14 (JD). It's not always a clean pairing. H/S are the only programs to be regarded as 1 and 2 (or by some standards, 1 and 1) for both business and law. (I'm aware that some programs put HLS as 3rd behind SLS and YLS, but it's well-known that for corporate recruiting, HLS is either a peer or superior to SLS.) NYU is the 4th/5th best law school but falls somewhere 10-12th with its MBA. Northwestern, UVA, Penn, and several others all have similar imbalances.

Good luck.

I am permanently behind on PMs, it's not personal.
 

I've heard of only one guy doing it (and he was the subject of a bunch of "what the fuck is he thinking" amongst the group of us in that conversation).

I am permanently behind on PMs, it's not personal.
 

Not a "kid" but most notable example of someone who did JD/MBA after PE that I can think of would be Ram Jagganath at Blackstone who was an associate at Genstar prior to degree.

Not sure what Genstars rep was then, but looks like it was MM or LMM based on their fund size.

EDIT: I'd assume there's some Paulson & co alums who did it as well. They used to recruit heavily out of Harvard's JD/MBA.

 

I think most programs let you pick which school you start at. If you start at the bschool it'd probably help with nonlaw internship recruiting. You could do BSchool > MBB or IB internship > 1L > Opposite of first summer > 2L/BSchool > PE internship > 3L/BSchool > Full time PE.

I'd have to assume this would be your best shot as opposed to doing a biglaw internship.

 
Most Helpful

To what extent do you think Senator Romney's JD (part of his HBS JD/MBA) helped him become Governor / Senator? Do you think he would have been fine anyway without the JD (e.g., Governor Rauner, GTCR)? Do you think the formal legal study makes Senator Romney a more capable politician than Governor Rauner was?

For Romney, assuming the JD helped him at least some measurable amount, how much do you think the benefit was from the JD network, and how much do you think the benefit was from his understanding of constitutional law (et al.)? What other elements do you think contributed to its utility? I realize there are myriad other factors but I'm trying to get opinions on the value of the JD as an isolated entity.

Is anyone aware of any interview where Senator Romney has talked about the reason he got a JD/MBA? Are there any other examples of investors who turned to politics after a fruitful career? Either senatorial or gubernatorial is fine.

 

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