Wealthy Weekends Story: Jamal B. Bailey
Jamal B. Bailey is a consultant who graduated from Hampton University with his MBA. In his spare time, Jamal enjoys boxing, listening to various podcasts including the GaryVee podcast and currently has New Toronto 3 and Eternal Atake in rotation. Like a lot of millennials, Jamal was navigating corporate America all while setting the foundation to follow his passion. Dancy With Money had the opportunity to catch-up with Jamal to discuss his journey towards obtaining his JD.
DWM: What was your motivation behind pursuing your Law Degree? How do you feel like your MBA will help you stand out in this competitive field?
Jamal: Law school has been the plan, at least since about 2015 (senior year at Hampton). Like everybody, I only had generic and big picture ideas of what I wanted to do. I only knew I wanted to be somebody important and valued for what I bring to the table. That same year actually in the MBA program we had to take Business Law with Dr. Travis and learning the basics of an argument really peaked my interest. So I figured why not? With a JD/MBA, I’ll be a real boss (lol).
The MBA is a game changer. Imagine being in a room with a bunch of folks that only speak Spanish, but you speak both Spanish and English…you are immediately on a different playing field. Then add on the fact that I spent time at Morgan Stanley and have spent the past three years at Deloitte. I don’t just have an MBA with theoretical and abstract education behind it, but I have real business experience to bring it all full circle now with a law degree.
DWM: From a financial perspective, what were some factors that you considered before making your decision? How would you describe the shifts in your budget since making that decision?
Jamal: Uhh embarrassing but I f****d up my money every way possible (lol) living fast and not thinking twice about my decisions honestly. In the fall of 2018, I was strapped for cash. All of my money was going to rent, xfinity, and my credit card payments.
So with that background, I didn’t really consider too much before pulling the trigger. Which honestly is one of my better traits. When I want to do something, I make it happen; even if it’s not pretty. Fortunately, it worked out for me. I studied for the LSAT using all FREE resources. I’m talking about my main platform for study material was YouTube and the free Khan Academy questions you get when you sign up for LSAC. But it worked! When the acceptances came through, scholarships came with them. The only remaining thing I had to figure out was getting my credit cards together, which I’ve spent the last year grinding and have accomplished. Since then, I’ve become extremely conscious of my money and spending. I hand write down all of my spending and income twice every month (usually on payday). It also has helped being in school and at work I don’t have time to pop bottles any more.
DWM: How are you able to manage going to school and having a full-time career?
Jamal: Bro this s**t is a grind! No games, 10-toes locked in everyday grind. My schedule is insane and I’m actually starting to think I might be a little off as well. Before Corona shut us down, I woke up everyday at 5:30am, talked to God and played on twitter. Then at 6am I’m in the gym, 7am shower and suit up, 7:30am out the door, work from 8:30am-4:30pm, school from 5:30pm until 10pm, and get home at 11p. How bad do you want it?
As far as selfcare, I make it a point to exercise. Anything from jogging outside to even stretching on the yoga mat when I wake up. The physical exercise serves as a reset for me. If I didn’t workout, my days would literally run into each other and that’s how you burn out. Also, after class on Thursdays I take the entire night off, and usually sleep in on Friday’s before I get back into my bag. Also highly recommend CBD salt baths (lol).
DWM: So after you get your degree, what is next for you?
Jamal: Take over the world. Seriously, I plan to approach the market and deliver solutions for clients in a way you don’t typically see from minorities. In 2022, I’ll have my law degree, an MBA, contracting experience, technology experience, banking and securities experience, and court room experience. I haven’t quite figured out what all of that is going to look like but I imagine somewhere between Kanye West and John Wick in a navy suit (lol).
I guess I plan to be a general practitioner? Someone you can call about any problem and I’ll close the deal. Jamal Brian & Associates wouldn’t be bad.
DWM: Any advice for someone considering making a step towards pursuing another degree?
Jamal: Pull the trigger and bet on yourself. The plan will literally never be perfect. So all of that waiting until something comes through whether that’s the job opportunity, promotion, stimulus check, tax refund check or whatever…F**k all that. Nobody is ever going to come knocking on your door and give you the opportunity because you woke up this morning.
If possible, enroll in a fulltime program and take everything you’ve learned thus far in life, actively build relationships, and pour into them. Take action and you’ll be surprised where you land!