You have just graduated from business school: Now what? Chances are, you are making tough decisions about what you want to do next in your professional life.
Perhaps you want to continue your education. On the other hand, you might think it’s best to dive right into starting your own business. If you’ve given law school any thought, your choice is harder than most, since law school requires a significant financial and time commitment. That said, there are several stellar reasons why law school makes sense after you graduate business school.
1. Business and Law Go Hand in Hand
Though you may not see the commonalities right away, business and law are more similar than they are different. Both require discipline, deep analysis, and critical thinking. Both fields of study are demanding on your memory, and in order for you to succeed, you have to refine your research skills.
In fact, law and business are so alike that some people choose to study them concurrently. It’s not uncommon for students to get a law degree while studying business. Some ambitious business-minded professionals even study law while starting their own company. You do this successfully, for instance, by studying at an online law school around your scheduled business hours.
2. Business Law Is a Lucrative Career
Perhaps you aren’t ready to start a business of your own just yet. Maybe you’re not sure if you want to run a business after all. Don’t worry that your degree in business was obtained in vain. You can still make good use of it if you choose to go to law school.
You can make business law your new field of focus. Though business law comes with its own challenges, it may be less taxing than other fields of law, especially for someone like you who is already a business-minded person.
Not to mention, business law is extremely lucrative. As of a recent report, you can make around 200 thousand dollars a year as a corporate attorney. If you choose to practice on your own and you want to represent small businesses, you can also make a steady income of about 150 thousand dollars. The fact that you are already familiar with business can only make learning business law that much easier and less intimidating.
3. Business Graduates Make Law Firm Partners
If you do pursue the path of becoming a lawyer, you will likely be interested in making partner as your ambitions widen. Of course, any hard-working lawyer stands a chance of becoming partner somewhere, but there is a strong implied preference for lawyers with proven business knowledge. If you excel as a lawyer, no matter the field of law, your efforts can be rewarded twice as quickly since you also have a Masters in business.
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As a business graduate, you will be valuable to your law firm because you understand good management and you can put it into practice. You can help your law firm run more smoothly, which is what partners are meant to do in the first place aside from scoring big legal wins.
The Business of Law
Law and business may seem like they are entirely different disciplines at a glance. However, they are complementary. They have more in common than you realize, and if given the chance, you can harness the two fields of study to your own advantage.
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