Business prospects with JD?

[MLBrandow]

I'm planning to attend law school next fall. I'd like to know (generally) what my career prospects would be on the business side fresh out of law school.


I would greatly appreciate any insight or information, as today marks my first attempt at quellingng this bit of curiosity.

[mike]

Corporate Counsel would probably appeal to you, or practicing corporate law at a law firm, or consulting at McKinsey.

[MLBrandow]

mike,

Respectfully, the point of this question is not to find out my opportunities in practicing law as it relates to a firm or business, but to explore opportunities on the business side itself. In other words, what would a JD set me up to do on the business side of firms?

Is it basically a prerequisite to have an MBA to land some of these top placement jobs, or would I have any sort of advantage by entering the market with a JD from a top law school?

Is there a good cache of freely available reading material somewhere online where I can read about this on end?

[mike]

Brandow-
I'm going to be blunt.

On the whole- Lawyers make crappy business people because lawyers are all about risk aversion. Business people- MBAs- don't have that risk aversion, they are taught to assess the risk, and handle it rather than seeing it as a barrier, it is also seen as an opportunity to utilize a barrier to entry.

JD's also are not trained in Management Practice- they are taught in Law practice. If you throw the financial statements in front of a JD and an MBA and ask for a quick assessment- you're likely to get a faster and more accurate assessment from the MBA; just as if you throw some documents that pertain to litigation facing the company in front of those two same people- the JD will probably fare far better.

Look into McKinsey Consultants. Once you learn the McKinsey method and work as a consultant for a couple of years, you'll have the experience and prestige to get hired on as a competent executive despite having the JD.

[MLBrandow]

mike,

I suppose I should better articulate my question:

I am planning to obtain a JD and an MBA, but I may not get them concurrently, and I will pursue a JD directly out of college (fall '09 matriculation).

How will a relevant JD from a top law school add to my business prospects in terms of placement into the business market, if at all?

[slayterdown]

mike,

I suppose I should better articulate my question:

I am planning to obtain a JD and an MBA, but I may not get them concurrently, and I will pursue a JD directly out of college (fall '09 matriculation).

How will a relevant JD from a top law school add to my business prospects in terms of placement into the business market, if at all?

Assuming you plan on working after you get the JD, it could give you a slight edge. Example, if you get into M&A law, get a couple years of work experience under your belt, you could go to b-school and have an edge getting into banking.
Depending on your eventual career path though, you may not need to even go to b-school. I know a lot of lawyers who actually get into banking without even the trouble of b-school.
Having said that though, if your eventual idea is to get into some career supported by a b-school education, there really isn't much need in getting a JD in the first place. I know a ton on JD/MBA candidates who were no better off having the dual degree (meaning they didn't necessarily get better or more offers than people who only had an MBA).
If you choose to be a lawyer after going to b-school, you will certainly have an edge in corporate finance law practices.