Guys, I think everybody has got a portion of right in this dispute...
I can just tell you one thing from my point of view. I tested on myself what means on the one hand "working before studying" and on the other hand "studying before working".
I have worked since 2005 working on, and running, securities offering documents published under the US Securities Act. On the closing date of a standard deal (e.g., an issuance of shares), generally, a law firm (legal advisor of one party in the transaction) issues a "legal opinion" - often a so-called "10b-5 opinion".
Well, when I saw my first draft of such an opinion, I never studied Rule 10b-5 of the US Securities Act in a "Securities Regulation" course. But with the months, drafting and re-drafting, opinions over opinions, I could understand the real scope and purpose of this opinion, and its underlying legal foundation, i.e., the Rule 10b-5.
Morevoer, I had the chance to attend a "Corporations" course in Leiden - during the Columbia Summer Program - taught by a very good teacher, and there I got my first complete explanation of such a rule.
Very often, while listening to him, I realized that I had already lived certain factual situations that he was describing from a strict legal viewpoint.
In this sense, and in my specific case, a deeper study of "Securities Regulation" in an LL.M. may strenghten my "work-based" knowledge in this matter.
From the other point of view, it's certainly true that is quite difficult to a student without work experience that he may completely appreciate certain shades during the description of laws and rules that I described above.
That's it. Of course, without offence to anybody.
Best regards!
YOU ARE SO RIGHT!
:D