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I can certainly say that I've been in your situation before. There are a couple of things you should think about. What are the benefits of having a Ph.D. in electrical engineering vs. a master's degree? Are you going to get that much better of a job with a Ph.D. that would justify the additional time and expense? Do you really want to postpone the start of your career for another 3 or 4 years? Are you going to price yourself right out of the job market? (Who wants to hire a kid with a phd and absolutely no experience - sounds expensive.)
I obviously can't tell you what you should do. Just some stuff to think about when deciding on which avenue to take in grad school. I ultimately came to the decision that a Ph.D. wasn't really going to be of any benefit to me unless I wanted to become a college profesor. Sure it'd be nice to have those credentials, but the cost just didn't outweigh the benefits.
I will work for a firm or for myself as an engineering and business law expert. Say an engineering firm gets into some trouble with something they designed going bad. I will be concidered an expert in the field so they dont have to hire outside people to come in and say what they did was the correct processes and what not in court. I will also be more specialized in these fields so firms will be more likely to hire me on as a lawyer.
Plus my dad has his accounting then law degree and he knows people who double majored business and engineering then went to law school and they a were all made partners in large firms at young ages because of the specialties. I know its an odd combination but it really is a great thing to have. Its a lot better to have specialties as a lawyer than just go through pre law then law.
i certainly wouldn't argue that being a lawyer with specialties is worth its weight in gold. lawyers are a dime a dozen. you definitely need something to set you apart in today's day and age.