When choosing a career path for yourself, often you might find yourself questioning your choice. We live in an increasingly diverse world. Diversity infers that you’re allowed to have more than one option. The rule extends to your career choice as well.
After completing your degree, you may be wondering in what direction you should advance your career. And if you have narrowed your options between a JD and an MBA, these are two glamorous fields. So it’s entirely alright to weigh both options from different perspectives before making a choice.
A JD is a Juris Doctor degree. It is a professional graduate degree – one of the many degrees among the several Doctor of Law degrees. On the other hand, MBA is a Master’s in Business Administration, another professional graduate-level degree. Prospective MBA graduates earn this degree to expand their horizons in the business world. The MBA can also utilize the degree for international careers. Whether you were interested in picking a future career or genuinely curious about where these two fields deviate, this article is your biggest guide. It helps you make your next career move.
Similarities between MBA and JD
An MBA is a business degree, while a JD is a law degree. You may be wondering if they’re both from different fields, how they can be similar. You’d be surprised to know that they share similarities in the following ways:
- They Both Get You High Paying Jobs. Whether you choose to go for a JD or an MBA. The salary figure you’ll be earning is the same. It means both are equally rewarding fields and carry a high potential for making money, which makes pursuing either one all the more worth it.
- Same Duration. Completion of the coursework takes about two to three years for both. So no matter what degree you pick, you’ll be investing the same amount of time in school for both.
- Both Are Competitive. Whether you apply for an MBA or a JD. Both have incredibly rigorous admission criteria. Thousands of applicants compete for a spot. You must have a strong academic background and an impressive personal statement.
- Both Have Various Applications. The skills obtained from both degrees cater to various industries in their respective fields. The office work doesn’t confine you to one setting. You can shift around different career paths.
As you can see, both degrees share lots of mutual benefits when it comes to prestige and glamor. Even though the incentives may be attractive, don’t base your decision entirely on these facts. There are still many differences when it comes to deciding between JD vs MBA and picking the right career advancement for yourself.
Differences between MBA and JD
The differences between both degrees will help you make a final decision on what field you’re planning to pursue.
- JD has more critical reasoning. Lawyers rely heavily on the rationale to make a decision. They build their arguments through discrete components and independently assess individual case scenarios to produce an accurate case. A JD’s coursework is also way more intense than an MBA’s academic curriculum. Their coursework is more analytic, detailed, and specific. Students navigate various topics while obtaining their JD to assess what is criminal justice and why it is essential.
- MBA Is More Quantitative. JD’s are not interested in numerical figures unless it is essential to the court cases. Lawyers have a very superficial understanding of accounting and economics. MBA’s, on the other hand, focus on numerical data alone. They study accounting, finance, statistics, micro, and macroeconomics in detail. Through which they pursue various business endeavors.
- MBA Produces More Leaders. Lawyers are excellent thinkers, and when you graduate from law school, you head different departments but aren’t necessarily leaders. Lawyers are individualistic people and rarely work in team settings.
MBAs, on the other hand, produce leaders. Businesses only work well when the entire team is on board, which means there needs to be effective networking. Even their extracurricular activities contain many leadership courses.
- MBAs Have Cheaper Tuition. JD and MBA both take the same amount of time for completion. However, with JD, you can extend your academic endeavor with an extra two years program. As a whole, law schools are far more costly than business schools—the more prestigious your law school, the higher your annual tuition cost. Business schools, on the other hand, are far more affordable. They carry an additional perk of scholarships and financial aids and, not to mention in some cases, an employer scholarship.
- MBAs Have More Networking. While you’re studying in a business school, you have a greater chance of forming networks. Team projects and a curriculum designed for team settings help you develop the skills needed to extend your connections. On the other hand, law schools are more structured to provide you with the skills you need for the job. Lawyers eventually have to form a network and connection later, or some may not even develop any at all. Networking is not relevant to their cases.
When selecting a career for yourself to extend your academic outreach, make a list of goals. These goals will help you decide what you’re looking for in your career. JD and MBA are both excellent choices. Both give you the skills and knowledge you require if you wish to start a company of your own. Either in the form of a law firm or a business.
JD programs are more academically centered, emphasizing critical thinking, structured arguments, and an individualistic approach to cases. JD’s occupy a prominent position in society and are essential to courts.
MBA programs, on the other hand, are more skills-based. Their curriculum is centered on numerical data and using this data to make strategic business decisions. Businesses are more interested in the leadership qualities and techniques MBA graduates bring to the table. Your grades and academic knowledge don’t play a substantial role as it does in a JD program.