Tuesday, April 29, 2008

Should Every Law Student Get An MBA Too?

Julie Hilden (Yale law) seems to think so:

Recently, I discovered that a law school friend and I share one major regret: We both wish we had combined our law school education with a business school education. After all, we might have received both MBAs and JDs in just four years. Granted, our student loans would have increased accordingly -- but the increase probably would not have caused us to make different choices, in light of the large loan burden we already carried from law school alone.

Interestingly, neither of us actually went into business; he's a public interest attorney and I combine writing and law. But both of us were still adamant in our view that we would have been tremendously aided by an MBA. It wasn't the entrée into business that an MBA provides that we felt we had missed, though of course, that is extremely valuable. Rather, it was the different and contrasting approaches and ways of thinking that business school offers.

Here's her five key reasons for thinking this is a good idea:
  1. A Partner in a Law Firm Must Co-Run a Small Business
  2. A Lawyer's Clients are Likely to Include Businesspeople
  3. The Law Is All About Risk, Return, and Strategy
  4. Business School Teaches Creative Thinking and a Global Perspective; Law School Typically Does Not
  5. Business School Can Establish the Credentials to Lead, Not Simply Counsel Leaders
As a current law student who already has his MBA, I think the combination degree is a great idea. I've written before that I think an MBA from a good school is the best bang-for-your-buck in graduate education. If you're already in law school, being able to pick up the second degree in just one extra year is an excellent deal and can expand your career options tremendously.

Not only that, but business school is a lot funner than law school too!

(HT TaxProf Blog)

2 comments:

The SmartStart Coach said...

I do think the JD and the MBA are a good fit. A dual degree program makes good business sense to me.

If I was just starting my graduate school education, I'd seriously consider this option.

Linda M. Lopeke
http://www.smartstartcoach.com
Success-to-go for people working @ the speed of life!

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