Dueling Degrees: Does It Make Sense to Pursue a Joint Degree?

I had the great pleasure to address 60 participants in the Yale Global Pre-MBA program on Sunday evening. Their enthusiasm and thoughtful questions were so energizing – I can’t wait to see them in the MBA applicant pool in a couple of years. When my good friend and event organizer, Chris Grey, Associate Director of Admissions and Student Services, introduced me to the group, he mentioned that I hold JD and MBA degrees. So it was no surprise in a room of ambitious millennials that they were eager to talk more about my experience as a joint degree. Many of them are considering pursuing joint degrees, such as MBA/ JD, MBA/ MPP (Public Policy), MBA/ MA or MS (including education), so I thought I would share some of what I told them. I will give it to you from the point of view of the MBA/ JD, because that’s the program I completed. It is also one of the more popular joint degrees and it often requires a larger commitment of time and money than other joint programs.

So why did I get a joint degree? I would love to give you a well-articulated reason for getting a joint degree. I was always on a business path and knew as early as 15 years old that I would get an MBA. Law school was a late addition to the career plan when I learned of the JD/MBA from a college classmate. I knew the JD/ MBA would set me up for tremendous career opportunities, but ultimately I chose to attend because (1) I got admitted to my dream school, (2) I thought it would be interesting (it was…kind of), and I had some time on my hands – I was only 21 years old when I started the program.

In my four years at Virginia, I had awesome educational experiences, developing two incredible frameworks for viewing the world, business and organizations. I joined two phenomenal networks of professionals, though admittedly my law school network has been pretty ancillary to my career. Having the joint degree, and from a prestigious university no less, has given me significant credibility. It’s kind of random, but I am afforded certain benefits (of intelligence and capability) before I’ve opened my mouth. I’m sad to say that there is a tangible difference in how many people interact with me when they know my educational and professional credentials versus when they don’t (another blog for another day!) The most unexpected benefit of the joint degree was personal – my husband! Staying in Charlottesville for a fourth year enabled me to meet my husband, who was in the first year of the program. Score!

Let me first say that if you have your heart set on getting a joint degree than do it. Don’t let me or anyone else stand in your way; but do your research to understand the pros and cons so you can make an informed decision.

Understand the value of the joint degree

It is difficult to justify the need for the MBA/ JD. It is certainly beneficial for many professionals, include sports agency and M&A advisory work, but the majority of professionals in these and other fields do not have joint degrees (and some have managed to become incredibly successful). That doesn’t mean you should pursue a joint degree, but you want to really dig into the gauge how it will benefit you professionally. Too many candidates try to figure this out on their own – get help. Talk to as many joint degree graduates as you can about their experiences. Gather insight on the value of the degrees, get suggestions on navigating the educational experience and job market afterward as well as guidance on the application process.

Don’t just talk to people that got joint degrees; seek out folks who opted not to pursue them. This will give you a fuller picture of the career benefits. Weigh the costs of staying in school longer and investing more money against the return. For example, if you tack on a law degree to an MBA, you will add two years of school – and that’s two additional years of not progressing in your career, two years without income and two years of incurring additional debt. That’s real.

Understand the details of pursuing a joint degree

After you’ve taken the long-term view of the joint degree, then you want to get down to the nuts and bolts. You will be required to complete double the work to apply to graduate school. Two sets of applications, in most cases, two standardized tests, with two admissions processes. You have to find one university in which both programs meet your needs and wants. Also it’s important to understand how pursing a joint degree impacts your educational experience. I didn’t graduate with either of my entering classes from law school or business school. My fourth year was largely spent building new relationships because most of my good friends had already graduated. This was made all the more difficult because of my severe case of senioritis.

I’ve chosen to write this from one angle, but there are so many caveats that I could have included as joint degree programs vary tremendously depending on what degrees you pursue and at what school. For example at some schools you have the option to pursue a 3-year JD/MBA program instead of the more traditional 4-year program. I worked with a candidate this year who will be pursuing his MBA/ MPP this fall. He’s actually going through a “program” with the same 30 people while I like many joint degree was largely on my own, not have a strong cohort to rely on.

Even if you choose not to apply now to a joint degree program, you may still be able to apply once you are on campus – if that is the slightest consideration for you, I would strongly encourage you take any required standardized tests now. Another option for those that opt not to pursue the joint degree is to take coursework at the other graduate school to develop your knowledge base and relationships. It’s usually doesn’t cost you any additional money and can supplement your MBA education.