Will a Tax LL.M. Cleanse a 4th Tier, Bottom of the Class J.D.?*

[WSJ Law Blog]

* Let us say that the title to the post is not our own — it’s the verbatim title of a nice post by University of Cincinnati Law School tax professor Paul Caron over at the TaxProf Blog. (We wrestled with our own title, but ultimately realized we couldn’t come close to Caron’s punchy, succinct gem.)

In the post, Caron tackles something that we’d imagine a lot of current law students or out-of-work young lawyers have at least given a passing thought to in recent months: how about an advanced degree in tax? (Many schools offer LL.Ms — masters degrees in tax — which essentially add on one extra year of coursework after the JD.) If I aced a one-year program, the thinking might go, would I have a better shot of landing at a big law firm — or landing in the tax department of the same law firm that laid me off?

Caron seems prompted to write the post by a sort-of advice column that appeared in the New York Law Journal on Monday.

In that column, a reader named “Waiting and Wondering” asked:

I graduated from law school last summer. I went to a fourth tier school and graduated near the bottom of my class. I think the reason I didn’t do so well was because I felt isolated and alone at school. I did start picking up my grades my last three semesters though. When I came back to my hometown, I took a few LLM classes as a non-degree student at a top tier school and got good grades. I think that if I try to get an LLM at this school I will do very well and graduate with high grades. My question is, will it be worth it for me to get an LLM? I was thinking about getting one in either Tax or International Trade. But I am hesitant about taking on more law school debt. I am also worried that once I graduate with the LLM, law firms will not care much about it and focus solely on my JD performance.

Answered Ann Israel, a New York-based legal recruiter and resident career-advice columnist for the NYLJ:

If you are hoping to become an associate at a BigLaw firm then taking on more debt is, more than likely, going to be a waste of your time and money. You are absolutely correct that the major AmLaw 100 and 200 law firms will not care that you have an LL.M., even if you intend to specialize in the practice of tax law. . . . Even in the best of job markets, the LL.M. is not something that ameliorates a poor law school transcript.

Coincidentally, it seems, Caron and colleagues last week published this paper about the value of LL.M. degrees.

Write Caron and Loyola Law School professors Jennifer Kowal and Katherine Pratt:

Here we distinguish between two different types of prospective Tax LLM students: (1) prospective Tax LLM students who have a genuine interest in and aptitude for tax and want to develop additional tax expertise to improve their chances of being hired for a tax position to which they aspire; and (2) prospective Tax LLM students who do not have a particular interest in and aptitude for tax, but assume that a Tax LLM degree from a prestigious Tax LLM program will rehabilitate less-than-stellar JD credentials and improve their chance of obtaining a job at an elite, big firm.

You can see where this is going, can’t you LBers? The trio continues:

A prospective Tax LLM student who is not genuinely interested in tax is not likely to do well in Tax LLM classes. In addition, the potential resume boost from successful completion of a Tax LLM degree is greatest when applying for tax-specific positions.

The bottom line seems to be that if you have an aptitude for tax and want to practice tax — which really isn’t for everyone — go for it. Otherwise, save your money. LBers, any further advice on this?

Absolutely true.

No LLM will override a bad JD performance in the eyes of the large prestige law firms.
So don't waste the money.