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Best Online Masters in Business Law Programs
A master’s degree in business law can open up many doors for lawyers and other professionals in related fields. The demand for business lawyers is expected to increase between 2019 and 2029, according to the Bureau of Labor Statistics (BLS), as corporate regulations become more complex and outsourcing costs force organizations to hire more in-house lawyers.
Business law graduates also enjoy significant career flexibility and financial rewards. In this page, we examine the best online master’s in business law programs and provide information about typical coursework. Whatever your educational goals may be – if you’re interested in earning an online master’s in business law degree, here is what you need to know. For more information, consult our master’s in business law program guide.
Top Accredited Online Masters in Business Law Programs
1. Tulane University
Working professionals who want an asynchronous program will appreciate Tulane’s online master’s degree in labor and employment law. Legal analysis, an introduction to employment discrimination law, and sex and gender issues in the workplace are all part of the 30-credit program. Students who study full-time can complete their degree in two years.
The university’s extensive alumni network assists degree seekers and alumni in obtaining high-paying jobs. CRIS, an online portal with job postings and career development courses, is also available to students.
GRE scores and undergraduate transcripts are among the requirements for admission. Tulane does not charge out-of-state tuition to students pursuing an online degree. To apply for federal aid programs, all new students must submit their FAFSA results.
Graduation Rate: 85%
Location: New Orleans, LA
2. Loyola University of Chicago
Loyola’s master’s in business law and compliance program may be of interest to practicing attorneys who want to specialize. Business planning, international business transactions, and a business law thesis are the three core courses in the hybrid curriculum. Students can explore topics such as contracts and entertainment law through approximately 25 electives. Students must complete 24 credits in total, including a written thesis.
One-on-one advising sessions, mock interviews, and the most up-to-date information on judicial clerkships across the country are among the specialized career services available to law students. 91 percent of Loyola’s School of Law graduates find work within 10 months of graduation thanks to these resources.
A bachelor’s degree and a law degree are required for admission. Outside of Illinois, students do not pay higher tuition rates. Advisors at Loyola assist prospective and current students in researching federal and private financial aid options.
Graduation Rate: 74%
Location: Chicago, IL
3. Western Michigan University
The Law School at Western Michigan University offers an online master’s degree in corporate law and finance. Advanced corporate transactions, corporate professional responsibility, and corporate governance and finance are among the 36-credit courses offered in this program. Students can tailor the program by choosing between a global or a small business track.
WMU provides personalized resources such as career coaches, mock interview programs, and networking opportunities to law students. Nearly two-thirds of alumni use these services to find work before or shortly after graduation.
A JD, one recommendation letter, a personal statement, and a writing sample are all required for admission. When compared to part-time students, full-time students receive a significant tuition discount. Merit-based scholarships provide eligible students with up to full tuition.
Graduation Rate: 74%
Location: Lansing, MI
4. The University of Alabama
The online master of laws program at UA includes a business transactions concentration. Students examine tax procedures, partnerships, and executive compensation during the 24-credit program. Students take comprehensive examinations on the UA’s Tuscaloosa campus in the program’s final year.
Approximately 94 percent of graduates say they were able to find work within 10 months of graduation. The university’s online career resources platform, Symplicity, assists students in achieving professional success by posting the most recent job openings and resume guides.
Graduation Rate: 72%
Location: Tuscaloosa, AL
5. Widener University
Widener University offers a corporate and business law dual MBA/master of jurisprudence program. In just 2.5 years, students can earn both degrees by completing 48 credits. All coursework is available to be completed online.
Participants earn a total of 24 credits, including 24 credits in business and 24 credits in law. Corporate compliance and ethics, managing business processes, and information systems and data analytics are all covered in the coursework. Two capstone courses are also required of students.
Applicants must have a bachelor’s degree and a minimum 3.0 GPA to be considered for the dual-degree program. Transcripts, a resume, two letters of recommendation, and a summary describing why they want to enroll in the program should all be sent in. GMAT scores may also be requested from some students.
Graduation Rate: 63%
Location: Chester, PA
What Can I Expect From an Online Masters in Business Law Program?
Many people pursue an online master’s in business law as a way of furthering their careers in law. The increased demand for lawyers who have a deeper understanding of business issues is fueling this trend, and online programs are making it possible for individuals with full-time jobs to earn these degrees.
A master’s in business law shares many similarities with a traditional law degree, but it has notable differences as well. This option is an increasingly popular choice among lawyers and legal professionals who want to expand their expertise while continuing to work full-time. Depending on the program’s format and a student’s course load, these business law programs typically take 1-2 years to complete.
A master’s in business law can be a truly rewarding education experience. At the core of this online program, students explore how laws and regulations that apply to corporations impact businesses. Those who graduate from this track become well versed in business law topics such as federal and state fair competition, partnerships, regulatory compliance, franchising, and investments.
Business law programs are likely to include classes on business organizations, such as corporations, LLCs and partnerships. You may also be expected to gain some understanding of the elements that make up a valid contract and how to draft legal documents. This may involve taking courses in contracts and computer applications that will help you with case preparation and research. Many online business law programs can include international law study, which may provide the cultural context for international business transactions.
Getting an online master’s in business law can help students expand their skill sets, giving them the knowledge they need to seek out new opportunities. While these degrees typically feature a wide variety of courses, there are also some topics that play a bigger role in business law than others. For example, taxation and corporate law often come up in discussions related to business law, so grouping these courses can help a graduate get ahead in his or her professional career. Additionally, taking classes that focus on specializations within the business law discipline is another good way for students to bolster their portfolios with a relevant degree.
What Courses Will I Take in an Online Masters in Business Law Program?
Students in online master’s in business law programs typically have a lot of course flexibility. Most programs include a few required core classes and allow students to choose the majority of their electives. The following is a list of some of the most common courses that students may take while pursuing their master’s degree in business law.
Corporate Transactions
Students will learn about the legal procedures and regulations that govern common corporate transactions in this course. They cover a wide range of transactions, as well as potential pitfalls and negotiation techniques. Franchising, financing, and acquisitions may all be investigated as part of the coursework.
Contract Law
This course teaches students how the legal system upholds and enforces contracts, as well as the processes and procedures that occur when a contract is broken. Contract drafting, ethics, mediation, and common problems are among the topics covered by students.
Mergers and Acquisitions
This course examines mergers and acquisitions from a legal standpoint. Organizational valuation, financing, and resource allocation are among the topics covered by students. Contract drafting, government regulations, and subsequent restructuring after a takeover are frequently covered topics.
Corporate Ethics and Responsibility
Students study corporate corruption, social responsibility, and ethical corporate governance in corporate ethics and responsibility courses. Learners investigate corporations’ moral obligations and how ethical or unethical decisions can create or destroy value. Ethics in financial transactions and organizational culture may be discussed as well.
Intellectual Property
Students will study the laws governing intellectual property, such as copyrights, patents, and trademarks, in this course. They also learn about the legal processes involved in intellectual property theft and trademark infringement, as well as how these cases are resolved both in and out of courtrooms.
Admission Requirements for Online Masters in Business Law Programs
The school and program focus determine the admission requirements for an online master’s in business law program. Applicants must have a bachelor’s degree, though some programs prefer people with a JD and a lot of experience in the field.
Some schools also have GPA requirements and require applicants to submit standardized test results, such as the LSAT or GMAT. For more information on this process, see our Graduate Admissions Guide.
What Can I Do With an Online Masters in Business Law Degree?
A master’s degree in business law can help lawyers stand out in a competitive job market. Lawyers are expected to grow by 4% between 2019 and 2029, according to the BLS, which is on par with the average projected growth for all other jobs in the US.
A master’s degree in business law can lead to a number of attractive career options. If you want to work as an attorney, earning your degree online can improve your prospects of finding a job. For other professionals who are already working in fields outside the legal field, an online master’s in business law can help advance careers or gain entry into high-level managerial positions.
Workers in other fields, such as finance or human resources, can benefit from a master’s in business law, in addition to lawyers. This degree can help workers specialize, allowing them to advance in their careers and earn more money.
Lawyer
Lawyers are professionals that specialize in legal issues. They provide legal counsel and advice on a variety of matters. A lawyer can work with businesses or individuals. As advocates for their clients, lawyers seek settlement and resolution of an issue or matter, if possible. To better negotiate resolutions it may be important for an attorney to advise his or her client as to the client’s rights or possess skillful powers of persuasion. According to the Bureau of Labor Statistics, 50% of lawyers work for legal services organizations, while 17% are self-employed.
Arbitrator, Mediator, or Conciliator
Arbitrators, mediators, and conciliators help people and organizations settle disputes by facilitating communication, managing contracts and settlements, and ensuring adherence to laws. These professionals may work for government agencies or non-profit agencies. They may also work for private legal firms. According to the Bureau of Labor Statistics, 20% of arbitrators work for local government agencies, 17% for state government agencies, and 12% are self-employed.
Financial Manager
A financial manager oversees an organization’s finances, ensuring that a company follows the law while pursuing new financial opportunities. This includes deciding how much of its money to invest in stocks, bonds and other investments, as well as determining how much to spend on advertising and marketing . These leaders also analyze markets and organizational spending and use their findings to help their businesses make informed decisions. According to the Bureau of Labor Statistics, 30% of these professionals work in finance and insurance, 14% in professional, scientific, and technical services, and 11% in management.
Human Resources Manager
Human resources managers oversee the human resources department of an organization and ensure that the staff is compensated fairly. These managers handle all aspects of human resources such as recruiting, testing and hiring, benefits, performance management, and retirement planning. They make sure that the organization is compliant with labor laws and help shape the organizational culture. According to the Bureau of Labor Statistics, 14% of these managers work in professional, scientific, and technical services, and another 14% work in company management.
Top Executive
Top executives oversee the work of other high-level employees. They set organizational targets and develop the policies and procedures to help meet established goals. Top executives may also handle finances, staffing, and performance evaluations, and may report to a board of directors on issues including cost analysis and financial forecasts. According to the Bureau of Labor Statistics, 24% of top executives are self-employed, 11% work in professional, scientific, and technical services, and 9% work for the government.
FAQs About Masters in Business Law Programs
Is a masters in business law worth it?
A master’s degree in business law can assist lawyers and other professionals in specializing in a specific field. Law and management positions are available to graduates. A business law degree provides graduates with the flexibility to work in a variety of industries.
What can I do with a masters in business law?
Practicing lawyers can distinguish themselves and qualify for corporate law positions by earning a master’s in business law. Management positions in the business and financial sectors are available to graduates without a JD. Some graduates, on the other hand, go on to get a Ph.D. in law, which can lead to postsecondary teaching jobs.
How much money can I make with a masters in business law?
Salaries for graduates with a master’s degree in business law are determined by a variety of factors. Lawyers, for example, earn a median annual salary of $122,960, while workers in management occupations earn a median annual salary of $105,660, according to the BLS.
What are the highest-paying jobs I can get with a masters in business law?
Financial manager is one of the highest-paying jobs for graduates with a master’s in business law. These professionals earn a median annual salary of $129,890, according to the BLS. The top 10% of earners in the industry earn more than $208,000 per year.