Ann Israel is the legal profession's Dear Abby. A New York legal recruiter since 1979, Ann is a past president of the National Association of Legal Search Consultants. Advice for the Lawlorn is updated every week.

Q: With regards to your recent column [on going back to school for a J.D. after working for several years with an LL.M.], I would like to ask some questions of the individual who is a later-in-life lawyer. I also have similar concerns as the qualified LL.M. who wrote to you.

I am comfortably ensconced within a hedge fund as a credit analyst, so at the moment the opportunity cost of quitting and pursuing a full-time law degree is high. However, I am interested in pursuing a law degree because: 1) I am becoming the de facto firm lawyer; 2) I may make a lateral career move to law/corporate in the future; and, 3) I enjoy the subject matter.

So, given the need for part-time study and the fact I am based outside the U.S., does it make sense to study for a LL.B./LL.M., or will I be wasting my time?

Non-practicing lawyers have told me an LL.B./LL.M. is fine, law firm partners have wrinkled their nose and said to go for the full J.D.

Your thoughts appreciated.

Kind regards.

Dear De Facto: Our friend who volunteered his time to speak to people regarding life as a more mature law student probably did not intend to counsel people on whether or not they should go to law school or advise them as to what degrees they should pursue. I believe his intent was simply to let people know about the pros and cons of going back to school as an older student and then starting out at a BigLaw firm as an older associate. However, I am happy to address your concerns to the best of my ability.

First though, I would like to comment on the fact that I am interested in your statement that your hedge fund has been treating you as the "de facto firm lawyer." These are some dangerous waters you are swimming around in if you are passing out legal advice (and they are accepting it), since you are not an attorney. Please do be wary and careful here. Malpractice suits abound these days.

Nevertheless, it seems that this has tweaked your interest in the legal profession and in the near future you would like to move over from being a credit analyst to becoming a transactional attorney.

I do understand the economics of quitting and entering law school full-time. Obviously this does not seem to be a reasonable choice for you at this juncture. However, if you have read any of my previous columns on this subject then you probably know that I disagree with the non-practicing attorneys advising you to simply get your LL.M. and not worry about a J.D.

In reading the earlier posting you must know that this individual has had nothing but heartbreaking problems in trying to find his dream job, in spite of the fact that he has marvelous credentials and experience. Now, after all of these years, he basically is starting all over again by going back to law school in the United States and earning a J.D., just so he can be employed in a BigLaw firm here in the U.S.

If that is your goal then you must know that an LL.M. from a foreign law school is really not going to do much for you without a J.D. from a U.S. law school. Quite frankly, I don't know how you can get an LL.M. without having a J.D. or equivalent since the LL.M. is a master degree of law.

As for the joint LL.B./LL.M. program, that is something I am not qualified to address but as far as I know, the program is for individuals intending to become British barristers and solicitors. That is not the same program as an American J.D. and the law is quite different. If you are planning to practice in England, for example, yes -- this would be exactly what you should do.

It would seem to me that the full-time partners who have wrinkled their noses at the idea of an LL.B./LL.M. program are most likely affiliated with American law firms and that is why they are advising you to go after your J.D. If you are interested in ultimately working for an American law firm, corporation, bank or hedge fund, your money and time are best spent and invested attending an American law school where you will receive a J.D. upon graduation.

Ultimately, everything really depends on where you plan on practicing law. If you are going to live under British rule, you should go after the LL.B./LL.M. degrees. However, if you plan to work for an American law firm or company, you will want to have a J.D. I think if you go by this simple rule of thumb then you will be able to determine which degree to go after. Now the big questions will be when to go to law school, will it be as a full- or part-time student, and how to pay for it! Best wishes!

Sincerely,
Ann M. Israel
President, Ann Israel & Associates