MBA After Law - Is it worth it?

An MBA after LLB is the perfect avenue for those who want to get into the corporate law and business law domain of study. MBA after law is one of the most sought streams for law graduates to pursue after graduation. Graduates who have a scope for management opt for MBA courses after LLB. An MBA helps graduates better understand business nuances, business ethics in law and order, and how they can offer law services to a broad audience.

An MBA degree also helps graduates better understand the market and sales, which can also help them become commercial lawyers or media lawyers. But is MBA essential for law graduates? The article focuses on how MBA after a law degree benefits lawyers.

Also Read on MBA Admission

Eligibility for MBA After Law

MBA is an open degree that allows graduates from all domains with no management background. Since MBA is an open degree, all MBA specialities have the same qualifying requirements. MBA applicants must have a minimum of 50% in their undergraduate degree. MBA eligibility requirements vary depending on an undergraduate degree. Even though each institution has its unique requirements, the following are some of the general standards according to UGC guidelines:

• Any MBA program requires aspirants to have met the minimum eligibility criteria of securing 50% in undergraduate studies from any field of study.
• In LLB graduates, the undergraduate LLB degree should be from a university recognized by the Indian bar counciL.
• Students must also pass national or state-level entrance exams. There are many entrance exams for MBA programs, such as the CAT, XMAT, GMAT, etc.
• After passing an entrance test, candidates must pass a ground discussion and interview rounds to get university admission.
• To pursue MBA in foreign colleges, graduates must clear the GMAT and a language competence test like IELTS, Test Daf, etc.

Best Specializations in MBA After Law

There are several MBA specializations available that can be pursued by law graduates, depending upon their interests and area of specialization. Most of the specialization gives a brief idea about its functioning, which helps law graduates apply the same to legal studies. Lawyers can use an MBA either to improve their technical skills or to move into management sector.

MBA after Law is also viable for senior lawyers who are into entrepreneurship and business law to get more knowledge on management proceedings and administration. Some of the best MBA specializations after law courses include:

How to Pursue MBA After Law

MBA degree after law may sound pretty weird, but when looked into the cope and opportunities it brings, it is worth in the current market. Plenty of students have asked how to pursue this course across various platforms.

Listed below is more about the admission process :

• Before opting for the course, students must understand the advantages, disadvantages and eligibility for the course.
• Students must ensure that they meet the required eligibility criteria and have acquired a law license from the Indian Bar Council.
• Students are required to appear for common entrance exams like CAT, MAT, XAT, etc and other law management exams for securing admissions into premier institutions.
• Once the aspirant is deemed meritorious, they will receive a GD and interview call from the respective university. GD can be of any common topic, whereas an interview is all about understanding a student's willingness to pursue.
• Law graduates should have a clear idea about their specialization and the purpose of opting during the interview round.

Advantages of Pursuing MBA after Law

MBA after LLB opens up many career options in law and business management. LLB courses help graduates comprehend the corporate structure and practise commercial or business law. Pursuing MBA after LLB has its own merits in terms of career and terms of the job market.

Listed below are advantages of pursuing this course.

• MBA after law allows you to specialise in commercial law, corporate law, media and communications law, and other areas.
• Other employment vacancies include law firm management, company management, client management, etc.
• MBAs emphasise economic growth and marketing, which helps LLB candidates establish themselves and enhance their services.
• MBA and LLB offer good pay grade potential for law graduates to earn more combining these skills. They can earn more as corporate lawyers, working as law consultants at firms and industry, etc., with a very high pay grade.
• MBA after Law also offers the scope for entrepreneurship to establish their law firms and services.

Top MBA Colleges After Law

MBA after LLB is one of law students' most unexplored streams of study. There is no better investment in your future education and professional success than enrolling in a top-tier management school to get an MBA.

A few top MBA institutions are listed below; aspirants can review their admission processes and consider them for their MBA after law.

• IIM Ahmedabad
• IIM Bangalore
• IIM Calcutta
• IIM Lucknow
• IIM Kozhikode
• IIM Indore
• IIT Kharagpur
• IIT Delhi
• NIMS University
• MIT College of Management

Salary of MBA After Law

The average pay scale for both LLB graduates with MBA degrees or a LLM graduate with MBA degree is pretty higher than the graduates with just LLB or LLM degrees. In general , pay grades vary for lawyers based on several factors such as  job sector, work experience, domain of expertise, and nature of client.

Lawyers already have a pretty competitive pay scale, and an MBA degree provides more edge for corporate lawyers, as they will get to handle legal issues for top organizations. Some of the common job designation and average pay for law graduates with MBA degrees are mentioned below.

Scope of MBA After LLB

MBA after law has plenty of scopes both in the private and public sectors. Graduates receive numerous job offers across various industries and law firms in India and abroad. Most jobs are highly paid, and their experience level increases their pay scale.
Some of the key employment areas for LLB graduates after pursuing an MBA are given below :

Is It Good to do an MBA after Law?

MBA after Law, offers more weightage to students' profiles and enhances their scope in the current job market scenario. Pursuing MBA and practicing business-oriented law helps graduates understand the nuances of business management and will help them structure better arguments and evidence to substantiate their legal point of view. 

Listed below are some key pointers:

• Business lawyers with an MBA degree will have greater scopes of clients and job scopes owing to their specialized understanding of how market and business works. Lawyers need to delve deeper into the subject to construct arguments and conduct legal research.
• MBA always offers variety when it comes to job scopes and opportunities. Lawyers with a knack for management can take up pure management jobs upon completing an MBA degree. Management roles also offer competitive pay grades for LLB graduates, similar to the law domain.
• When we consider MBA as a choice after LLB, it is certainly the best one to opt for, especially when it comes to business management and trade-based legal studies. However, the ultimate choice remains in the hands of aspirants who should make a thorough decision after having an understanding of the pros and cons of pursuing an MBA.