Master’s in Business Law Career Guide

What Can I Expect from an Online Master’s in Business Law Program?

An online master’s in business law program emphasizes legal issues in
the business world. Your degree can help you advance your career to the
next level, especially if your job requires you to regularly interact
with lawyers or involves a highly regulated industry. Full-time graduate
students and working professionals benefit from online courses that
often allow them to work at their own pace or at an accelerated rate to
finish quickly. Choose online master’s programs from accredited
educational institutions to receive the same degree of quality and
professionalism as programs held on campus.

Concentrations Offered for an Online Master’s in Business Law

Graduate students completing their business law master’s degree
online learn a blend of legal and business principles that can be
applied in a wide range of careers in almost any field. Due to this
versatility, earning your degree offers you numerous career paths. If
you’d like to pursue a career in a specific industry, choose a
concentration that aligns with this vocation.

CONCENTRATION DESCRIPTION POSSIBLE CAREERS THIS CONCENTRATION PREPARES FOR
Environment and Natural Resource Law An online master’s in business law with a concentration in environmental law focuses on issues dealing with conservation and could include courses on public policy, land use, pollution and climate change. Conservation lawyer, business compliance officer, resource protection manager
Entertainment Law A concentration in the entertainment industry covers contracts and laws in the film, radio, movie, television, music and publishing industries, including intellectual property rights and celebrity privacy laws. Celebrity attorney, in-house legal adviser, legal consultant, entertainment counsel
Real Estate Law and Business Concentrations in real estate law focuses on listing, purchase and sale agreements between property buyers and sellers. Real estate attorney
Human Resources and Employment Law Master’s in business law programs with a concentration in employment law focus on hiring, firing, promoting and training employees and can cover finance, insurance and health care topics. Personnel or human resources manager, training and development manager, compensation and benefits analyst, labor relations lawyer

Curriculum for an Online Master’s in Business Law

Online master’s in business law programs are designed to provide you
with the knowledge to address a wide variety of legal issues that impact
a business’ performance, including financial regulations, compliance
and risk management. Many programs are offered 100 percent online for
maximum convenience to working professionals, but some require an
end-of-program research project or thesis that may entail some work on
campus. Each program offers its own unique curriculum, but some common
courses you might take include:

COURSES DESCRIPTION
Business Organization Prepares graduates to work as legal consultants and examine the laws that govern businesses, especially corporations, including the foundational concepts, structures and functions of various entities.
Corporation and Limited Liability Company Cover common laws governing these types of businesses, including related securities laws and the rights and legal duties of the owners, shareholders and corporate officers.
Regulation and Compliance Explore the laws that affect individuals and businesses, including safety, health, environment, employment and consumer protection statutes.
Contract Creation Delves into how to read and write binding and nonbinding contracts and other legal agreements.
Risk Management Business strategies and risk management, including focusing on specific business goals and how to reach these goals in the current marketplace.

How Long Does It Take to Get an Online Master’s Degree in Business Law?

On average, full-time students can complete an online master’s degree
in business law in two years, with programs requiring 24 to 32 credits
covering a variety of topics. Depending on the exact type of business
law degree you’re pursuing and your enrollment status, completing your
master’s can take as little as nine months for accelerated programs or
as long as four years when attending part-time. If your career requires
passing the state bar exam, most states require you to obtain a juris
doctor degree, which can take three years on top of the time it takes to
complete your master’s in business law.

Certifications and Licenses an Online Master’s in Business Law Prepares For

CERTIFICATION DESCRIPTION
Business Attorney A master’s in business law can help prepare you to take the state bar exam, which is required to practice law. However, many states require you to complete a juris doctor degree before sitting for the bar. Some online programs offer a dual degree in business and law, often a JD/master of business administration program, that meets education requirements.

Accreditation for Online Master’s in Business Law Degrees

Accreditation is the evaluation process that ensures a college or
university meets high academic standards. The most prestigious form of
accreditation is regional accreditation, but schools can also have
national accreditation. The Council for Higher Education Accreditation oversees agencies that provide national accreditation to ensure compliance with specific standards, as does the Department of Education.

To practice law in most states, the American Bar Association (ABA)
requires a juris doctor degree, which you can obtain through online
programs. However, the ABA doesn’t currently accredit any juris doctor
or master’s in business law programs that are completely conducted
online. Since online-only master’s in business law programs are
typically not intended for those seeking to become an attorney but
rather for those wanting to gain legal knowledge to excel in their
chosen careers, choosing schools with regional or national accreditation
should suffice.

Employment Outlook for Master’s in Business Law Graduates

Job Placement: Master’s v. Bachelor’s

Earning an online business law master’s degree can put you on a fast
track to advancement in your chosen career with a higher starting
salary. Your degree may even allow you to skip over entry-level
positions and immediately enter mid-level jobs related to your business
law concentration. This is especially true for graduates pursuing
careers in business management who have a master’s in business law that
makes them a more desirable candidate in highly competitive fields.

Expected Salary

Once you’ve completed your online business law master’s program, you’ll have extensive knowledge of the laws, policies and practices that apply in a business environment. Many companies show preference to applicants with advanced degrees, and every industry benefits from a staff member with legal expertise. Understanding the legalities that impact a business puts you in a prime position for jobs in compliance, risk, regulation and personnel management jobs like these.

The legal field is lucrative, even in lower-level positions that
still require advanced knowledge of business law. Completing your online
master’s in business law can prepare you to be a legal assistant in a
variety of industries, and the industry you work in can affect your
salary, as demonstrated below.

Job Title Salary Range
General Paralegal $31,903–$69,052
Real Estate Paralegal $33,833–$74,639
Intellectual Property Paralegal $44,273–$88,873
Corporate Paralegal $45,201–$88,669

Career Opportunities

All types of businesses rely on employees with legal expertise who
can help guide their company through contract negotiations, labor
relations, compliance issues, risk management and various legal issues.
Your online master’s in business law can prepare you to succeed in a
wide array of occupations including these:

JOB TITLE JOB DESCRIPTION MEDIAN SALARY PROJECTED GROWTH RATE
Paralegal Paralegals work in law firms assisting business lawyers in most tasks or work for large corporations providing legal advice and support through their in-house legal department. Some duties of a paralegal include legal research, contract creation and negotiation, managing business correspondence and file maintenance. $50,410 per year 15%
Regulatory Affairs Specialist Working in regulatory positions requires precise coordination and documentation of the internal regulatory processes of a business, which may include internal audits, license renewals or registrations. $67,870 per year 7%
Compliance Manager Compliance managers ensure businesses remain compliant with all laws and regulations governing their operation, including ensuring compliance in contracts, licenses and permits. $105,610 per year 7%
Risk Management Specialists Risk managers analyze and manage any area of potential risk to the assets, earning capacity and overall success of a business, including recommending ways to better control or reduce risks in various scenarios. $69,520 per year 12%

Professional Organizations

Joining professional organizations helps graduates with a master’s in
business law connect with peers, stay current on legal issues in their
field and pursue educational, occupational and certification
opportunities that help hone their skills and advance their careers.
Highlighting your membership to national and international organizations
in your field also shows potential employers your dedication to your
career and desire to continually improve your skills. These are a few of
the organizations that may be of special interest to business law
professionals.

National Human Resources Association:
A nonprofit organization for business law graduates in human resources,
members take advantage of professional networking, professional
development and leadership opportunities. It also offers career services
to help in your job search and access to a range of training events
held nationwide.

American Bar Association Business Law Section:
A global network for business law professionals that allows them to
expand their knowledge and careers through peer-reviewed scholarly
journals, business law content, practice-specific committees, annual
meetings, networking and job listings.

International Bar Association Corporate Law Section:
An international organization that provides information, industry
updates, news and other resources relevant to corporate law, plus
internship programs, training courses, online CLE programs and a huge
network of professional contacts.

Financing Your Online Master’s in Business Law

While online degree programs are often less expensive than their
on-campus counterparts, many graduates find they still require financial
aid. Your first step should always be filling out the Free Application
for Federal Student Aid (FAFSA), which provides access to the largest
sources of financial aid from the federal government. Many states and
universities also use your FAFSA application to determine your
eligibility for their financial aid programs. Graduate students should
also seek funding through grants, loans and other financial assistance
options.

Resources

Scholarships

Scholarships

Details

Jack M. Wilson Presidential Scholarship Fund

Award: $1,000

Deadline: September

Eligibility: Graduate students who demonstrate academic excellence and are enrolled in six credits in any academic program through UMassOnline.

Brown PC National Business Law Scholarship

Award: $500

Deadline: December

Eligibility: Full-time law student with a demonstrated interest in business law. Award paid directly to the student to pay for any expenses related to legal education.