Hello,
Here's some background on myself. I went to a top 15 undergrad and graduated with a ~3.9. I then went to a T14 law school and got above median (3.3) but still pretty mediocre grades (3.5). Afterwards, I practiced at a big law firm in Chicago for 5 years doing Labor & Employment work. Currently, I've been told that I'm on track for partner in a few years. While I love practicing L&E, I want to switch directions and go into HR with the long-term goal of being a CHRO, SVP of HR, or CDO.
I'm curious about what you all think I should do. I haven't taken the GMAT yet, but my LSAT, ACT, and SAT were in the 97th-99th percentiles, so I'm fairly confident I can study up and do well. Both my undergrad and law school (Northwestern & Chicago) have great business schools nearby. I could theoretically do a part-time MBA program at either of them while still working at my firm. This would allow me to pay for tuition very easily without touching my savings. By the time I finish, I could potentially be up for at least income partner if not equity partner at my firm. At the same time, I'm worried that part-time MBA won't be received well and won't really propel my career beyond partner at a firm. The other option, of course, is that I could do a full-time program and apply broadly to the M7, hopefully get some scholarship money, and do that. A full-time program would signal a very clear shift in my career, but I'd basically give up on the possibility of partnership at my firm and have to drain some of my savings.
For more info, I currently make $280k/yr., and I'm anticipating an $80k bonus (these are market rates in big law as a 6th year associate). Based on L&E partners I talk to at my firm, I'd probably make $700k at an equity partner down the line. I'm a bit worried that even if I could go to a M7 MBA program and came out with a VP role that I'd be taking a huge compensation hit. I know SVP and CHROs can make a lot more than $360-700k, but I'm not sure what VP salaries look like in HR.
What do you all think I should do? Would it be a wiser decision to stay, try to make partner, and then if I make partner try to transition over to a senior HR role at a client/F500?
Thanks,
Mr Pink