Last Updated on February 7, 2023 by Omoyeni Adeniyi
Know more about What Can You Do With a Business Law Degree, what can you do with a business law degree, what jobs can you do with a business law degree, how to get a business law degree, what can you do with business law & what can you do with a masters in business law.
what can you do with a business law degree
Are you considering career options? There are a host of careers available in the world of business. Examples of exciting business careers include:
- Accounting, finance, and economics
- Human resources, management, consulting, and public relations
- Business development, marketing and advertising
- Operations and project/program management
- Real estate, event planning, and hospitality
- Retail, sales, and supply chain management
- Business lawyer
What Is Business Law?
Business law is a broad field with many specializations, but it generally deals with anything having to do with the legalities of running a business. Some specializations include intellectual property, real estate, and transactions.
A business lawyer is someone who has earned a law degree and passed the bar exam. Business lawyers can handle a company’s legal concerns – both positive concerns, such as contracts and property or asset acquisition, and negative concerns, such as environmental issues and employee discrimination lawsuits. Some businesses might also hire business lawyers to deal with taxation, disputes over intellectual property, or compliance issues involving local, state, or federal laws. A business lawyer may work for a law firm and have multiple clients, or be hired by a single company as their in-house employee. Some business lawyers also focus on international business law.
There is no specific pre-law major at the undergraduate level. However, universities offer pre-law programs that allow students to choose majors, minors, and courses that will prepare them for law school. An aspiring business lawyer may find these undergraduate programs helpful:
- Business administration
- Legal studies, with an optional concentration in Business Law
- Political science
To practice business law, an individual must earn a Juris Doctorate from a law school. While a general JD can qualify one to become a lawyer, those pursuing careers in business law may want to narrow their focus with a business law specialization. A few options available include:
- Dual Master of Business Administration/Juris Doctorate
- Juris Doctorate with Specializations in Business Law or Taxation
- Juris Doctorate with Certificate in Business Law, Intellectual Property, Federal Tax Law, or Energy, Innovation, and Sustainability
Foundational business law courses include topics such as intellectual property law, business associations, income tax, employment law, and transactions. After completing a law program, one must pass the bar exam and then apply for a license to practice in their state. Requirements vary by state and jurisdiction, but most require lawyers to receive continuing legal education every year or every three years.
Jobs in Business Law
What business law jobs are available to those with a business law degree? There are several practicing and non-practicing career options for those with a business law degree. These business law job opportunities utilize the skills learned in a business law program as well as various undergraduate programs.
Practicing business lawyers are usually divided into 2 groups; trial lawyers (litigators) and transactional lawyers. Trial lawyers work for businesses that end up in court against another business. They litigate issues such as a breach of contract and act similar to civil trial attorneys. Transactional lawyers work with businesses out of court and can act as in-house attorneys to negotiate and draw up contracts, advise on licensing agreements, or prepare documents that are required by regulatory agencies, such as the IRS.
Business lawyers can work in many industries, such as real estate, entertainment, or environmental, with various specialties, from intellectual property to taxes and labor and employment law. They can open their own private practice, work for an organization, or work at large or small corporate firms.
Human Resources Managers
Human resources managers are in charge of the administrative operations of a business, company, or organization. They plan, direct, and coordinate several functions, that can include hiring and training new employees, oversee employee benefit programs, and act as a liaison or consultant between the managers and employees, among other duties.
Becoming a human resources manager starts with obtaining an undergraduate degree in business administration or a related field. A master’s degree in business administration is often preferred or required. An individual with a business law JD can also succeed in this career with their knowledge of employee and labor law. Previous work experience as a human resources or labor relations specialist or in a related area is required. Certification is optional and may be obtained through online human resources classes.
Financial analysts guide businesses and individuals with investment decisions. They study past and current economic and business trends to give informed advice on either buying an investment or selling an investment, such as stocks and bonds. They can work with banks, hedge funds, insurance companies, and other businesses.
Financial analysts need a bachelor’s degree in finance or a related field. A business law degree can help an individual succeed as a financial analyst since they can utilize their knowledge of taxation and transaction law. A license from the Financial Industry Regulatory Authority (FINRA) is required to sell financial products, but certification is usually only recommended for advancement. One option is a Chartered Financial Analyst (CFA) certification.
Compliance officers work for companies to advise them in staying within their legal limitations and upholding their licensing requirements. They assess and evaluate companies to make sure they are obeying all regulations, staying up to date on policies and licensing, and request any changes that need to be made. Healthcare and financial services are popular industries for this career, but there is a wide range of work environments.
Compliance officers need a bachelor’s degree. Certification to work in a specific field, such as financial or healthcare services, is required. Financial compliance officer certification can be obtained through the Financial Industry Regulatory Authority by passing an exam. A degree in business law can help an individual succeed in this career due to their knowledge of business laws, regulations, and policies, as well as taxation.
Administrative Law Judges
Administrative law judges are a type of judge that presides over court trials relating to labor and employment issues. They can work for local, state, and federal governments and agencies. It is their responsibility to impartially apply their knowledge of the law to conduct a fair trial and give appropriate sentencing. There are many types of cases an administrative law judge can preside over; a couple of examples would be an individual’s qualification for employee benefits or if employee discrimination is occurring in a workplace.
Administrative law judges need to have a state license to practice law and at least 7 years of experience in litigation or administrative law. An individual with a business law degree can apply their knowledge of employee and labor laws in this career.
Salary and Outlook for Business Law Careers
Business law careers vary, and the expected salary attached to each job can vary as well. The majority of business law careers appear to be growing at an average rate, according to the U.S. Bureau of Labor Statistics. The following chart outlines salary and job outlook for several common business law careers.
|Job Type||Education||License or Certification||Average Salary (2019)*||Job Outlook (2019-2029)*|
|Business Lawyers||Juris Doctorate||State license to practice||$122,960 (for all lawyers)||4% (for all lawyers)|
|Human Resources Managers||Bachelor’s degree||Optional certification||$116,720||6%|
|Financial Analysts||Bachelor’s degree||FINRA license required to sell, CFA optional||$81,590||5%|
|Compliance Officers||Bachelor’s degree||Certification in specified field||$71,550 (for accountants and auditors)||4% (for accountants and auditors)|
|Administrative Law Judges||Juris Doctorate||State law license||$120,090 (for judges and hearing officers)||2% (for judges and hearing officers)|
is a business law degree worth it
If you’re a third-year LLB Law student and you’re wondering what you should do next, the University of Bolton’s LLM International Business Law degree is the perfect next step for kick-starting your career.
Having been ranked in the Top 10 in the UK for Student Satisfaction in Law Courses* for the second year running, there’s nowhere better to study than Bolton. Here are five reasons why this business and law degree could be the right master’s for you, and why you should stay on at university after completing your LLB degree…
1) It’s a versatile business and law degree
By upskilling in the field of corporate law, you can open many doors in both the private and public sector. Organisations are increasingly interested in hiring people who can help them gain a competitive edge through an extensive knowledge of business law, making this degree a fantastic investment for career future-proofing.
Graduates can also use a business and law degree as a stepping stone for other career paths, including for jobs in accountancy and finance, human resources, insurance, international aid, investment banking, recruitment, sales, tax advice or inspection, trading standards, and more.
2) Corporate law is a top field to work in
According to Michael Page, one of the top 16 areas to specialise in within the legal profession is corporate law, with corporate litigation coming in at number one, and specialisms like compliance, tax law and intellectual property following behind closely.
Although legal careers are not completely recession-proof, business law is an area that is always required to help businesses navigate complex issues, whether the economy is up or down. And as international trade routes expand, specialist skills in corporate law will be highly sought after.
3) There’s rising demand for global expertise
An international business and law degree is a fantastic next step after your LLB as globalisation creates an interconnected world of trade and cultural exchange. Not only is it essential for businesses to understand the legal obligations of operating, trading and selling in international waters, but it’s vital for them to improve global communications.
Our course helps students develop a whole range of skills, including soft skills which can help them form relationships with partners from around the world. You’ll also get a chance to develop strengths in data collection, critical analysis, creative thinking, and complex problem-solving from a global perspective.
Professionals with this type of advanced international knowledge are in demand, and will continue to be in the coming years as globalisation grows.
4) Master’s degree holders earn more
According to the Higher Education Policy Institute (HEPI), postgraduates earn on average 18% more than first degree holders, just six months after graduation. This makes a master’s degree a worthwhile investment for you career, and one that can give you a good return soon after you graduate.
If you’re interested in earning a solicitor’s salary, the LLM is the ideal platform. While LLM is not a qualifying law degree (QLD), it can help graduates gain entry to the Solicitors Qualifying Examination (SQE) or the Bar Professional Training Course (BPTC). An LLM can also be a launching pad for a PhD, giving you a range of options in further education.
5) Improve job prospects in a global market
Our LLM International Business Law programme trains students so they are equipped to address the legalities that affect commercial or government institutions, both nationally and internationally. For those who want to work overseas or get hired by global organisations, an international business and law degree is a great addition to your CV.
Does this sound like the right stepping stone for your career? If you’re a third-year law student looking to do a master’s, we’ll support you in your transition from undergraduate to postgraduate study, and you can continue to enjoy #UniAsItShouldBe.
what is a business law degree useful for
A business law graduate may find work at various experience levels, serving as a legal assistant or becoming the general counsel for a large corporation. Popular career options in business law are covered in this article, which explores business paralegal work as well as common business lawyer careers.
Business Law Overview
What kinds of jobs are there for you in a corporate legal department? The answer depends on how much education you have in business law. Corporate paralegals, for instance, may need only a 2-year or 4-year degree. By contrast, people working as attorneys or corporate counsels are expected to earn a bachelor’s degree before completing at least a Juris Doctor degree (a law degree) and passing a state bar examination.
Important Facts about This Occupational Field
|Median Salary (2021)||$127,990 (for lawyers)|
|Required Education||Associate’s degree (for paralegals)|
|Job Outlook (2021-2031)||10% growth (for lawyers)|
|Key Skills||Writing, interpersonal, analytical, speaking, research, problem solving (for lawyers)|
Source: U.S. Bureau of Labor Statistics
Paralegals assist business lawyers in most of their duties. They help negotiate and draft contracts, conduct legal research and handle the business correspondence associated with the business law department of a company. Education for a paralegal in business law is typically more general than the training a business lawyer needs. Some employers may hire those with an associate’s degree in paralegal studies. Others may want their paralegals to have a 4-year degree and a certificate in paralegal studies; however, a license to practice law is not usually required.
Corporate attorneys are there whenever a company has to see the inside of a courtroom. They represent the company in all legal dealings, whether the case is civil or criminal. While many cases settle outside of a courtroom, some corporate attorneys specialize in corporate litigation, which means they focus on the procedures of arguing a case. Corporate litigation attorneys are often more specialized, and their business law education may have a focus in a particular field, like intellectual property or real estate. Unlike paralegals, all of these attorneys generally need to be licensed to practice law, also known as being admitted to the bar.
Corporate counsels provide advice on business law to a company. They also draw up contracts and write legal correspondence as needed. Corporate counsels may be involved with management, helping to create and maintain company policies, advising company officials of how to manage their legal risks and upholding the best legal practices for a company. Like corporate attorneys, counsels also need a law degree and need to have passed a bar examination.
A degree in business law can prepare you for a variety of different careers. With this degree, you can work in corporate law, contract law, intellectual property law, and more. Read on to learn about some of the different career paths you can pursue.
COMMON BUSINESS LAW DEGREE JOBS
- Corporate lawyer
- Patent agent
- Legal assistant
- Business consultant
- Contract manager
- General counsel
- Compliance officer
- Legislative analyst
- Contracts administrator
- Insurance underwriter
Lawyers provide legal advice and representation to clients in a variety of settings. They may work in private law firms, government agencies, or corporate in-house counsel offices. Lawyers may specialize in a particular area of law, such as criminal law, family law, or corporate law.
Lawyers need to have a strong understanding of the law and be able to effectively communicate their clients’ position to the court or other decision-maker. They also need to be able to research and analyze complex legal issues.
Corporate lawyers work with businesses to help them comply with the law. They provide legal advice on a variety of topics, including contracts, corporate governance, and mergers and acquisitions. They also work with clients to resolve legal disputes.
Corporate lawyers need to have a strong understanding of business law and the legal issues that businesses face. They also need to be able to effectively communicate with clients and other lawyers.
Patent agents work with inventors and businesses to secure patents for their inventions. They conduct patent searches, prepare and file patent applications, and provide guidance on patent law and strategy. They also work with the US Patent and Trademark Office to prosecute patents and defend them against challenges.
Patent agents need to have a strong understanding of patent law and practice. They also need to be able to effectively communicate with inventors and businesses.
Paralegals are responsible for providing support to lawyers in a variety of settings. They may conduct research, prepare documents, and interview witnesses and clients. They may also represent their employer in court or at hearings. Paralegals must be able to work independently and be able to handle a variety of tasks simultaneously.
Legal assistants provide support to lawyers and paralegals in a variety of legal settings. They may perform a variety of tasks, such as researching case law, preparing documents, and scheduling appointments. They also provide administrative support to legal teams, such as managing calendars and arranging meetings.
Legal assistants need to be well-organized and detail-oriented in order to effectively perform their job. They also need to be able to work well under pressure and meet deadlines.
Business consultants work with businesses to help them improve their performance. They assess a company’s needs and make recommendations on how to improve efficiency, increase profitability, and achieve other goals. They also provide guidance on how to best use technology to improve business operations.
Business consultants need to have a strong understanding of business principles and practices. They also need to be able to think creatively to find solutions to business problems. In addition, business consultants need to be able to communicate effectively with clients and other stakeholders.
Contract managers are responsible for overseeing the development and execution of contracts between two or more parties. They work with lawyers to ensure that the contracts are legally binding and meet the needs of all parties involved. They also work with clients to ensure that they are satisfied with the contract terms.
Contract managers need to have strong analytical and problem-solving skills. They also need to be able to effectively negotiate and build relationships with clients and other parties.
General counsels are responsible for providing legal advice to an organization and its management team. They work with the company’s lawyers to develop and implement legal strategies, and they also handle all legal matters that arise within the company. This can include everything from contract negotiations to defending the company in court.
General counsels need to have a strong understanding of business law and the legal issues that can impact an organization. They also need to be able to think strategically and develop creative solutions to legal problems.
Compliance officers are responsible for ensuring that organizations comply with all applicable laws and regulations. They conduct audits, develop and implement compliance programs, and investigate complaints of non-compliance. They also work with law enforcement agencies to prosecute those who violate compliance laws.
Compliance officers need to have a strong understanding of the laws and regulations that apply to their organization. They also need to be able to develop and implement effective compliance programs. This job requires excellent problem-solving skills and the ability to think creatively to find solutions.
Legislative analysts work in government offices, law firms, and corporations to provide analysis and advice on proposed legislation. They are responsible for researching the bill’s implications, preparing reports and presentations, and providing testimony at legislative hearings. They also work with clients to provide guidance on how to navigate the legislative process.
Legislative analysts need to have strong research and analytical skills. They must be able to understand and interpret complex legislation, and they must be able to communicate their findings clearly. They also need to be able to work well under pressure and meet deadlines.
Contracts administrators are responsible for administering, managing, and enforcing contracts for their organization. This includes creating and maintaining contract files, tracking contract deadlines, and resolving contract disputes. Contracts administrators also work with other departments within their organization to ensure that contracts are in compliance with all applicable laws and regulations.
Contracts administrators need to have a strong understanding of contract law and the ability to effectively manage and resolve contract disputes. They also need to be able to work well with other departments within their organization and have excellent organizational skills.
Insurance underwriters are responsible for evaluating and approving or rejecting insurance claims. They use their knowledge of insurance law and regulations to make their decisions. They also conduct investigations to determine the cause of an accident or disaster and assess the potential liability of the insured party.
Insurance underwriters need to have strong analytical and decision-making skills. They must be able to understand and apply complex insurance laws and regulations. They also need to be able to effectively communicate their decisions to the insured party and their attorney.