Why This Matters
-
RISING DEMAND FOR IN-HOUSE CORPORATE LAWYERS
In order to streamline costs, many businesses are now employing lawyers in-house, resulting in increased demand in the financial, insurance, consulting, and healthcare sectors.
-
THE U.S. NEEDS 32,400 MORE BUSINESS LAWYERS BY 2029
The employment picture for lawyers is expected to grow by 4% in the next decade, with further increases for those who specialize in corporate and business law.
-
EARN $122K OR MORE ON AVERAGE
The median pay of a lawyer in 2019 was $122,960. With an additional degree in business law, your salary may be even higher.
Our Research
We reviewed and assessed programs that offer both online learning as well as on-campus programs. The best programs highlight a combination of theoretical knowledge with practical application and allow students to focus on areas of interest, such as finance, international business law, risk management, or more.
Our chosen programs lead to an LL.M. degree, which is a specialized degree most commonly pursued by those who have already achieved their J.D. degree and have passed the bar exam. Some programs, however, accept those who are not lawyers but are interested in paraprofessional or other legal positions in the business sector. Most of these programs have been accredited by the American Bar Association, with some having further credentialing from regional accreditors.
We evaluated each program on the basis of flexibility, faculty, course strength, cost, and reputation. Then we calculated the Intelligent Score for each program on a scale from 0 to 100. For a more extensive explanation, check out Our Ranking Methodology.
- 71 hours to write this article
- 61 universities and colleges we assessed
- 161 education programs we compared
The Top 25 Master’s in Business Law Degree Programs
Discover More Options
What You Should Know About This Degree
As the U.S. economy continues to slowly recover from the COVID-19 pandemic, the need for business lawyers and in-house counsel should increase. Those with an understanding of international business will also see a rise in demand over the next several years.
A business law degree should not be confused with the traditional J.D. degree that is the basic law degree required to practice law in America. An LL.M. in business law will not qualify you for taking the bar exam in your state, but it may allow you to accept a higher level of responsibility if you are already in the legal field.
Unlike the J.D., the LL.M. in Business Law does not include a specific credential. With a business law degree, however, you will be eligible to join the Business Law Section of the American Bar Association, which is open to lawyers, judges, law students, and others interested in business law.
What’s Next?
Here are some questions to ask when researching business law programs:
- Am I eligible for this program? Most of those pursuing an LL.M. degree in Business Law are already working lawyers. If your circumstances are different, make sure when you are researching potential programs that the one you choose accepts non-lawyers and interested paraprofessionals.
- Are courses offered synchronously or asynchronously? If you choose an online program, find out if courses are offered at one designated time (synchronously) or are available at your convenience (asynchronously). For those who expect to continue working while attending graduate school, asynchronous delivery can be an easier choice, since you can watch classes and submit assignments at your own pace, at a time that works with your schedule.
If you are employed while pursuing your LL.M. degree, check with your employer’s human resources office to see if there is financial support available for employees who return to school for an advanced degree. If your LL.M. degree positions you to accept a higher level of assignment on the job, your company may be willing to pay for part or all of your education.
Other avenues of financial support to pursue would be through the college or university itself, as well as any professional associations you belong to. The American Bar Association, for example, offers a range of scholarships, grants, and work-study programs to help you fund your education.