Several schools, amongst them Harvard, Yale and NYU Stern, offer dual JD-MBA degrees, a combination of two ambitious programmes that does pay off in later life if students are willing to invest the time, commitment and money.
An article by US-American website US News recently made the case for such a combined degree.
How does it work?
- A JD usually takes about three years while the MBA takes two. A dual JD-MBA degree is usually achievable in four.
- The double degree usually adds another 50,000 US dollars per year in tuition.
- Despite the double degree, students need two different applications and two separate test scores – the LSAT and GMAT or GRE and GMAT.
What are the benefits?
- “In both the legal and business world, contacts are invaluable,” the article’s author states. Due to the attendance at both programmes, students will double their contact list as well as diversify it. “With a network in both realms, you’d become the rare contact point, having the business wherewithal to manage the law practice you just opened or angling for an in-house counsel position by calling up an old business school friend.”
- A dual degree always adds value and is highly regarded with employers.
- In the long run JD/MBA holders might have better prospects for promotions and increases in pay.
“Having a JD-MBA dual degree puts you in a unique group of educated individuals and opens a lot of doors and somewhat unusual career paths, but also requires tremendous willpower and dedication,” the author summarises. It certainly cannot be done by everyone.
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