MBA or JD? Which grad degree should you pursue?
Thinking of pursuing a graduate degree, perhaps an MBA or JD? A JD is a Juris Doctor or Doctor of Jurisprudence. But it’s “simply a prerequisite to be accepted within any given jurisdiction, as empowered by legislation” and one still needs to pass the bar (association/society) of the state or province to work in. What do you learn in law school? Law school teachings include: research, critical thinking, writing, paying attention to minute details and learning the Socratic Method, a form of inquiry and debate between individuals with opposing viewpoints.
An MBA stands for Master of Business Administration. Business schools train students to think strategically while understanding the details. They learn to focus on the big picture and then see it from all angles.
According to the WALL STREET OASIS:
1. It seems as though lawyers can easily work in many fields that MBAs work, however MBAs can’t work in a lot of fields that JDs can.
2. In addition, many people say that if you don’t go to a top 10 MBA school, in general, you will earn more money in career as a JD. Mainly because, like getting a medical degree, a legal degree has little variation in terms of its recognized respect, and it grants you permission to practice a certain profession. MBAs’ respectability and salaries, however, can vary considerably.
3. While MBA’s from top schools can earn loads of money in large cities like New York, Chicago, and San Francisco, they take a huge paycut if they decide to move to other areas. Lawyers, on the other hand, can earn huge salaries regardless of where they are geographically located.
4. In general, it seems that entrepreneurship is more common for lawyers, as many lawyers either start their own practices or join a small practice to become partners. For those who want to experience “entrepreneurship” and “be their own bosses,” lawyers do this with less risk.
No doubt, an MBA or JD are prestigious degrees! It depends on the person and individual preference of one over the other.