JD vs Masters

Career Opportunities & Internships Investment Banking
1

<p>Will you advance farther if you have a JD degree, or is a Master's just as good?</p>

<p>How much does the first year associate make at Goldman Sachs or JP Morgan, counting bonuses?</p>

2

<p>Here’s how I would rank the best options:

  1. undergrad -> associate -> MD/VP
  2. undergrad (with one or two investment banking internship) -> JD/MBA -> associate -> MD/VP
  3. undergrad -> analyst -> MBA -> associate -> MD/VP or undergrad (with one or two investment banking internship) -> JD -> associate -> MD/VP
  4. all other options including masters in financial engineering, etc.</p>

<p>And, how much first year associates make at the BB depends on the departments, but $150,000 to $250,000 should cover the majority.</p>

3

<p>If you are interested in investment banking (I’m assuming this since you put the position of associate and are in the IB forum), then you don’t need a JD or a typical Masters degree. The only finishing degree that would be of value to you in terms of IB is an MBA. A JD is great to have if you want to be a lawyer, but if you have no interest in law, there is no reason to get a JD. The exception to this is if you have a genuine interest in law, but want to pursue IB. In this case I would still not recommend a JD, I would recommend a JD/MBA combo. </p>

<p>As an MBA graduate, you would start off in IB as an associate, and then have the opp to grow into the VP+ roles. As an undergrad, you will come into IB as an analyst, and then after 3 years, you would either receive an offer for promotion or have to move - at which time B school, boutique IB, or buyside opportunities would be of the most interest. To go for your MBA, you will need a few years of solid work experience (not necessarily in IB, by any means, but work experience nevertheless).</p>

<p>There are lawyers who have a JD who break into banking without an MBA, but with a healthy dose of networking as well as a career (even if just for a year or so) in law and in a law discipline that deals with banking-related issues - such as M&A. </p>

<p>Beyond IB, in terms of degree vs. degree, a Masters (assuming you are talking about the degree right after undergrad, such as a Masters in Finance), is really just an extension of an undergrad and often not viewed as a true finishing degree - unlike an MBA or a JD. In fact, graduating with a Masters, you will still go for analyst-level IB positions, not associate. </p>

<p>Good luck and feel free to PM me with any further questions.</p>

<p>IBanker</p>

4

<p>Agree with everything BankonBanking said. M&A is one of the main area that a JD might become very handy. A Master’s is not even close to a MBA or JD in terms of opps.</p>