What You Should Know About This Degree
Business law is an umbrella term that encompasses trade, corporate, compliance, finance, and international business law. Depending on the program, the curriculum may cover one of these areas in-depth or several topics in a broad sense. Consider your personal interests and career goals when selecting a program to find one that most closely aligns with what you are seeking.
Regardless of what aspect of business law the program focuses on, a key point to note is that a LL.M. degree is different than a law degree, which is typically a Juris Doctor (J.D.) degree. Earning an LL.M. degree will not prepare you to take the bar exam, which is a requirement to become a practicing lawyer. If you want to become a lawyer, you should seek an ABA-approved law degree.
If you are planning on becoming a practicing lawyer who specializes in business law, you can complete an LL.M. either before or after attending law school and passing the bar exam.
A master’s in business law is also open to individuals who are not interested in practicing law but want to work in a law-related field, like compliance or finance. This type of degree equips students with many transferable skills, including research, critical thinking, and communication skills that can be applied to a variety of occupations.
Here are some questions to ask when researching Online Master’s in Business Law programs:
- Am I eligible for this program? Depending on the program, you may need prior education or experience in law, business, or a related field to be eligible for admission. Look carefully at the program’s admissions requirements before applying to confirm that you have the right educational and professional background to be considered eligible for the program.
- Are there any in-person requirements? Some programs have minimal residency requirements, either on-campus or in other locations, as part of their curriculum. Before enrolling in a program, be sure to review the in-person requirements so that you can plan on accommodating them in your schedule and budget.
Other steps that you can take at this point in the process include collecting your application materials and confirming application deadlines. This information is typically available on the school’s website, or you can contact their admissions department.
You should also consider how you will finance your master’s degree. Talk to financial aid counselors about your options for student loans, scholarships, and assistantships. If you are currently employed, find out if your employer offers tuition assistance benefits.