So I’m pretty sure at this point that I would like to work in M&A or turn arounds. I am taking the L III next June, but I am considering doing a JD/MBA to go along with it. I’m debating if this is overkill though as I will have a CFA as well. Do you think having an MBA with a JD would be pointless if I was a CFA charterholder already? Should I just go to law school?
No, you are comparing apples to oranges
if you are notin the industry the mba/jd combo will be better for you getting a job than cfa
what is your work experience
MBA/JD is a great joint-degree to go into M&A. Keep in mind though that you will likely emerge as one of the biggest tools in the world.
I work for a discount broker, so not really in the industry but it will qualify for work experience with CFAI. If I pass LIII in June, I will have 4 years of experience by Jan. 2014 to become a charterholder. I’ve heard a lot of negatives for JDMBA programs but it seems like the intention of most candidates is the issue. It seems like for M&A coming more from a business perspective instead of a law perspective would make sense.
For most people, JD/MBA is probably overkill. If you really want the knowledge and degrees, then sure, go for it. For practical purposes, it’s probably too much though. Consider that you will spend 4 years in that program, and you will have to pay tuition for both degrees. Plus, if you can get into a JD/MBA program, you can probably get into either a decent MBA or JD program, which might already be good enough.
If I had the time and ability when I was younger I would definitely consider it. If you want to do M&A, definitely go for the joint degree, it costs you 1-2 more years of your life and you get all the added flexibility of a law degree as well as the earning potential. It’s definitely not overkill, if I had to choose between not doing the joint degree or not doing the CFA, I would let the CFA go if anything.
As Higgs pointed out though, it is not without its risks. You will definitely be a ginormous tool. But your career potential will be nice!
I agree with ohai. I generally don’t think you need a JD/MBA to get into M&A as an investment professional. I know several dozen people in M&A, quite a few JD/MBA’s, and have worked on a few M&A deals myself while I was in private equity. My perspective based on my own experiences and in speaking with others is that while knowing the legal side may enable you to be more informed, as an M&A analyst/associate you’ll know the aspects of law that you really need to know to get the job done. There’s a huge difference in roles and responsibilities between the transacting side and legal side, and there is way too much work to do for any single person to handle both the financing tasks and the legal tasks.
Basically, don’t waste your time and money going for the joint degree and if you are dead set on getting into M&A, you should be aiming for the best business school you can possibly get into. The financial and opportunity costs of doing a JD are too much if your only goal is to be an M&A banker. What you should really be doing is getting into a kick a$$ business school and knowing your corporate finance cold. If you’re some legal genius but you falter on the accounting questions and don’t show a genuine interest in dealmaking, you will struggle mightily to get a good M&A banking job.
What if I went for the FRM, CPA, CAIA, ERP, CMA, CDBV, CQF and CTP… would I still be a tool then
The only certification you really need is EXP…aka experience
I would agree that if he wants to be an M&A banker, the JD doesn’t add a lot. I was assuming he would want to be an M&A attorney, in which case the MBA does add a lot.
Oh, if that’s the case then it would make more sense. I thought he wanted to be a banker than an attorney. It seems like the only people that get worked harder than the M&A bankers are the M&A lawyers. To me, it seems like a truly unenviable job unless you really love the art of the deal and the legal process underpinning it.
More than 2 = tool
I believe numerous double-blind studies have found that the largest number of tools per capita exist in the MBA and JD populations. So when you combine them, massive toolishness is a certainty. For what it’s worth, I am a member of the MBA population and exhibit greater than average toolish properties.