15 Feb Alternative Juris Doctor Careers: Investment Banking | ALU
Though many people go to law school to obtain a Juris Doctor (J.D.) degree in order to practice law, the degree may also be a valuable tool in other careers outside of public or private practice. The Abraham Lincoln University Blog will highlight other career options to pursue with your J.D. in a new series of posts. Up first: Investment banking.
Investment Banking for J.D. Graduates
According to the U.S. News and World Report, the tough job market for recent law school graduates is forcing job seekers to think outside of the box. Up to ten percent of recent Yale Law School grads work in business as opposed to practicing law, with the percentages about that range for a number of other prominent law schools as well.
While a J.D. is not a requirement for a job in investment banking, an advanced degree normally is. While in the past many have chosen the MBA as the advanced degree in order to get into investment banking, a J.D. with an undergraduate background in business, finance or economics may carry the same weight.
So what do investment bankers do? In the simplest terms, investment bankers arrange and negotiate large financial transactions, advising corporate clients while working for investment banking firms and commercial banks. Investment bankers are often employed by businesses seeking funds to connect them to potential investors.
According to the Bureau of Labor Statistics, investment bankers should be good with numbers and comfortable working in teams. Knowledge of the law as provided in the required studies for law school is not a requirement for an investment banker, but can be greatly helpful, especially when working in the corporate world.
Law school graduates do not have to pigeonhole themselves upon graduation, as there are a variety of opportunities available in many career fields. If practicing law is not the ideal outcome for you, keep investment banking in mind.