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Karl

Double Major or Law Degree

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 Karl    41

I’m at a deciding point in my education. As it sits I’m struggling to decide between a double major in finance and accounting or a single major in finance and pursuing a law degree (commercial law.) It will take an extra year to earn a double major and an extra three to earn a law degree. I like both, I am more partial to law but have two little ones needing another working parents income. As a side note I’m a pretty happy person regardless, I just want to support the family. 

I value the opinions of people on this site and have little role models elsewhere in my life yet to offer me some firm advice. Any input would be greatly appreciated. 

Thanks. 

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 LuckyBolt    1,794

Ask yourself one question...

Who do you want to help in the world? 

The big guy, or the little guy?

Commercial law = big pockets

Accounting you can choose to help the little guy if you so wanted.

The other thing I would do is a cost benefit analysis.  How much is school going to cost you vs the long term salary you can bring in.  I don’t know your living situation, but you also need to consider the cost of having to put your children into daycare when you start busting your ass and neither of you have time to take care of them.  That’s the monetary cost.  Now consider the emotional cost put on your kids.  They will be raised by someone else, taught by them, cared for.  Your bond might take a hit.  But again, I don’t know you or your situation.

The other thing I would do (if you haven’t done so already) is go and work for free for a commercial lawyer and an accountant (during tax season).  Work for a month.  Bring them coffee if that’s all you do.  Watch them. Learn/listen.  Ask yourself if you can do that every day.

Here’s another question...

Do you have a passion in life?  Is there something that makes you get up in the morning each day and say “Fvck yes - I can’t wait to do this!”  Take that and somehow make money with it.

There are people on the internet selling their soiled underwear and toe clippings to perverts and they rake in the money...

That is an extreme example of the endless possibilities of earning another income.

But again...go back to the first question.  How do you want to service people?  What do you want to make better in this world?

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 Ukshep    25,420
17 hours ago, Karl said:

I’m at a deciding point in my education. As it sits I’m struggling to decide between a double major in finance and accounting or a single major in finance and pursuing a law degree (commercial law.) It will take an extra year to earn a double major and an extra three to earn a law degree. I like both, I am more partial to law but have two little ones needing another working parents income. As a side note I’m a pretty happy person regardless, I just want to support the family. 

I value the opinions of people on this site and have little role models elsewhere in my life yet to offer me some firm advice. Any input would be greatly appreciated. 

Thanks. 

I wish I knew more of those two subjects to be able to give input. But without knowing them I feel any advice I could give would be without wisdom!

However. Whichever allows you to spend time with family and pay the bills is what I'd go with. Naturally I am attracted to those types of prospects. They breed happiness instead of stress!

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 Karl    41
3 hours ago, Ukshep said:

I wish I knew more of those two subjects to be able to give input. But without knowing them I feel any advice I could give would be without wisdom!

However. Whichever allows you to spend time with family and pay the bills is what I'd go with. Naturally I am attracted to those types of prospects. They breed happiness instead of stress!

Thank you! I agree, those are important to me also. I will keep looking into it :) 

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 Cinders77    417

In the last company I worked for which was a billion dollar company, marketing and accounting ruled the world.  If you knew finance and how to manipulate the numbers, you got all kinds of job opportunities in other departments in the company. 

The corporate attorneys were always under the gun, worked long hours and under massive stress because of the workload and not enough people.   (Crazy for a billion dollar company!)  

My experience is that if you are educated in finance and have an understanding of business law, you can go far in  corporate America.  If you are trained in just one area, maybe not so much. 

I would say it all boils down to how much time you want to spend with your family.  Corp attorneys work long hours and on the weekends due to legal deadlines.  Finance folks are typically unavailable the 1st week of every month for closing the books and that also involves overtime and long hours. 

You are teetering between 2 of the most demanding jobs in corporate America but you will also have more opportunity because of it.

Good luck with your decision!

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 Karl    41
15 hours ago, Cinders77 said:

In the last company I worked for which was a billion dollar company, marketing and accounting ruled the world.  If you knew finance and how to manipulate the numbers, you got all kinds of job opportunities in other departments in the company. 

The corporate attorneys were always under the gun, worked long hours and under massive stress because of the workload and not enough people.   (Crazy for a billion dollar company!)  

My experience is that if you are educated in finance and have an understanding of business law, you can go far in  corporate America.  If you are trained in just one area, maybe not so much. 

I would say it all boils down to how much time you want to spend with your family.  Corp attorneys work long hours and on the weekends due to legal deadlines.  Finance folks are typically unavailable the 1st week of every month for closing the books and that also involves overtime and long hours. 

You are teetering between 2 of the most demanding jobs in corporate America but you will also have more opportunity because of it.

Good luck with your decision!

Thank you! That’s super helpful. A week out of the month of overtime/long hours sounds more manageable than meeting legal deadlines constantly. 

I like a challenge, but time with family is rather important to me. 

I like opportunities, that’s what a person with a degree needs. The last thing I want is to be wondering where I am going to work with student loans and the cost of my kids braces leering on the horizon. 

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 snowball    719

do the lawyer thing.
it's a surer bet than is a double-major in pretty similar fields.

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 Karl    41
3 minutes ago, snowball said:

do the lawyer thing.
it's a surer bet than is a double-major in pretty similar fields.

Many people tell me there’s too many lawyers and the hours are long. Is it wrong to think I could just do a reasonable amount of work for a slightly unreasonable amount of money?

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 snowball    719
2 minutes ago, Karl said:

Many people tell me there’s too many lawyers and the hours are long. Is it wrong to think I could just do a reasonable amount of work for a slightly unreasonable amount of money?

you have what so far, exactly ?

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 Karl    41
21 minutes ago, snowball said:

you have what so far, exactly ?

I am a year away from a finance major, economics minor. I grad spring 2019 and would like to figure out what I have planned for the summer/fall. Would have to schedule and plan for SAT too if planning law. 

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 snowball    719
7 minutes ago, Karl said:

I am a year away from a finance major, economics minor. I grad spring 2019 and would like to figure out what I have planned for the summer/fall. Would have to schedule and plan for SAT too if planning law. 

why not just start a career with that ?
J.D. is demanding study that will require you unable to work much
while studying.
What kind of work do you WANT to do ?
 

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 Karl    41
38 minutes ago, snowball said:

why not just start a career with that ?
J.D. is demanding study that will require you unable to work much
while studying.
What kind of work do you WANT to do ?
 

I like to paint, clean, cook, garden. I’d make a stellar stay at home spouse. I don’t really have a choice financially. 

Part of the problem is that the only careers my university even hints at being possibilities are your standard accountant, financial analyst, etc. I don’t know what type of career I would even apply to. That’s a hard place to begin at. 

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