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Through collaboration between a university’s business and law schools, an MBA/Juris Doctor degree program is designed to allow qualified graduate students to receive an advanced degree in business administration and law concurrently in an accelerated format. As today’s competitive global marketplace continues to expand, many professionals need to obtain a diverse skill set that will allow them to succeed in the rapidly evolving business climate. Therefore, many graduate students are deciding to pursue a JD/MBA joint program to receive training for careers at the intersection of law with business. If you are considering integrating advanced management studies with a law school education simultaneously, read on to learn more about the benefits and drawbacks of enrolling in a dual JD/MBA program.
Structure of a Dual JD/MBA Program
Generally, a joint MBA and Juris Doctor program will require three to four years of advanced graduate studies beyond the baccalaureate level, in comparison to the five years it would take to earn the degrees separately. Within the Master of Business Administration (MBA) side, students can expect to take coursework related to management, finance, business research, entrepreneurship, finance, accounting, international business, and/or executive leadership strategies. In pursuing the Juris Doctor, most dual programs will require the completion of mandatory credits in criminal law, torts, legal writing, legal research, healthcare law, technology, criminal justice, intellectual property, labor law, and constitutional law. In many cases, students will need to maintain a minimum cumulative GPA of 3.0 or higher to graduate.
Benefits of Pursuing an MBA/Juris Doctor Degree
In addition to saving one year in an accelerated degree format, there are many advantages that can be realized by pursuing an MBA and Juris Doctor degree in a single program together. Having both a law and business degree can help you compete against other corporate professionals due to your thorough understanding of regulatory frameworks and other business law concepts. In fact, 46 CEOs for Fortune 500 companies have a Juris Doctor degree. With the versatility of a dual JD/MBA degree, you will have the credentials needed to seamlessly switch careers between the business and corporate law world. Since the dual program enables you to earn two professional degrees, you can also benefit from expanded networking opportunities with CEOs, CFOs, government officials, entrepreneurs, and attorneys.
Is Earning a Juris Doctor with an MBA Right for You?
Although it is clear that there are many benefits to pursue both degrees, it is important to determine whether pursuing a dual JD/MBA program is the right fit for your individualized career goals. If you have already begun a professional career, gaining a joint JD/MBA degree extends beyond the two to three-year break needed to attend business or law school separately, which means placing your time in the workforce on hold. Law school is notoriously demanding and adding in an MBA just packs extra classes into your workload, so applicants for dual MBA/JD programs need to have high academic performance. For those unsure of future career paths, pursuing a JD/MBA to cover all your bases is not a good idea because the dual degree typically costs $50,000 more than earning the degrees alone.
Resource: How Can I Get Financial Aid for my Masters in Business Degree?
Overall, earning the Master of Business Administration (MBA) and Juris Doctor (JD) together can be a worthwhile investment for students absolutely sure of their professional goals at the crossroads of the business and legal worlds. Not only will an MBA/Juris Doctor degree provide a full understanding of how companies are successfully run in the 21st century, but it will also offer legal proficiency in successfully consulting on corporate law issues that arise.
