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Kamaldeep
08 March, 2024
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“Being a lawyer is not merely a vocation. It is a public trust, and each of us has an obligation to give back to our communities.” – Janet Reno
Let us welcome the legal giants of the country to the fascinating interface of law and business. The dilemma of which MBA specialisation is best for a law graduate grows as you consider the many options that await your skills, standing at the crossroads of your academic and professional journey.
Don’t worry. In this exciting adventure, we will solve the puzzles and reveal the hidden secrets of the corporate world, all designed to sharpen your legal knowledge.
Prepare yourself for a fascinating journey where the art of negotiation and the science of strategy collide at the crossroads of justice and business.
There are several reasons to consider pursuing an MBA after law degree (LLB or LLM), all of which emphasise the importance and value of this degree. A legal education certainly provides students with a broad range of analytical skills, critical thinking, and an in-depth knowledge of justice and law. Combining this foundation with an MBA opens up a world of previously untapped possibilities and profound potential.
Here’s why choosing this path is a wise choice:
An MBA expands your skill set by including strategic thinking, leadership, finance, marketing, and operations management, while a legal education gives you analytical skills and a thorough understanding of law and justice.
An MBA after law increases your chance to explore a career in industries outside of traditional legal practice. With an MBA, you can pursue numerous career paths like corporate law, compliance, consulting, entrepreneurship, and politics.
In today’s complex global marketplace, having a solid understanding of the complexities of finance, management, and business operations is essential. An MBA gives you the information and abilities to succeed in leadership positions, promote organisational expansion, and make wise strategic choices. After doing an MBA post LLb/LLM, you can also establish your own law firm with the entrepreneurial skills learnt in the course.
In today’s competitive environment, combining legal knowledge with business expertise produces a potent combination that is highly valued. You become an advantage to companies in jobs like corporate governance, risk management, and compliance because of your ability to handle legal complexity in a commercial setting.
An MBA lets you reach out to experts from businesses, different backgrounds, and places, providing significant networking chances.
The extensive knowledge gained on various laws in an LLB and LLM complements pretty well with an MBA specialisation. From safety to international trade, corporate law to entrepreneurship, the range of possibilities offers a tempting array of pathways, each with its benefits and challenges.
However, choosing the best specialisation from these options requires a diligent thought process based on one’s interests, strengths, and professional goals.
The top MBA specialisations for LLB and LLM graduates are as follows:
| Banking | This programme focuses on financial institutions, banking operations, risk management, lending, and financial regulations. |
| International Business | It concentrates on global trade, cross-border transactions, international market analysis, and cultural understanding. |
| Retail Management | It involves managing retail operations, merchandising, inventory control, customer service, and store management. |
| Business Economics | It examines economic principles applied to business decision-making, market analysis, pricing strategies, and policies. |
| Data Analytics | It focuses on utilising data to derive insights for business decisions, employing statistical analysis, machine learning, and tools. |
| Finance | It covers areas like investment management, financial analysis, corporate finance, capital markets, and risk assessment. |
| Entrepreneurship | It focuses on developing entrepreneurial skills, business planning, startup management, innovation, and venture capital. |
| Logistics Management | It deals with supply chain management, transportation, inventory control, warehousing, and distribution strategies. |
| Marketing Management | It concentrates on market research, branding, product development, advertising, digital marketing, and consumer behaviour. |
| Business Analytics | It focuses on integrating data analysis with business strategy, focusing on predictive modelling, optimisation, and decision support. |
Other specialisations that you can choose after LLB/LLM are Event Management, Project Management, Media Management, Materials Management, Airlines Management, Hotel Management, Systems Management and Sales and Marketing.
LLB and LLM graduates who opt for an MBA often discover that they are well-suited to pursue rewarding and substantial career jobs across industries.
The following are some occupational roles and the related average salaries:
| Job Roles | Average Salary (INR) |
| Risk Management Director | 48.5 LPA |
| Corporate Lawyer | 10.3 LPA |
| Legal Consultant | 7.4 LPA |
| Law Firm Manager/ Legal Manager | 10.2 LPA |
| Marketing Specialist | 8.8 LPA |
| Chief Financial Officer | 54.4 LPA |
| Operations Research Analyst | 6 LPA |
| Policy Analyst | 7 LPA |
| Data Scientist | 14.5 LPA |
| Logistics Manager | 9.8 LPA |
Source: AmbitionBox
Getting into an MBA college after a law degree requires thorough research on the college. You must consider key points to choose the best one for yourself. Such key criteria to consider are:
Given is a list of colleges with fees structure for MBA.
| Name of College | Average Fees |
| Amity Online | INR 1,79,000 (Full Course) |
| Online Manipal | INR 1,75,000 – 2,60,000 (Full Course) |
| IGNOU | INR 62,000 (Full Course) |
| Jain University Online | INR 75,000 – 1,30,000 (Per Year) |
| Bharathi Vidyapeeth Deemed to be University | INR 1,30,000 (Full Course) |
| Name of College | Average Fees (in Lakhs) |
| Amity University | INR 3.36 – 3.89 |
| Chandigarh University | INR 1.39 |
| Symbiosis Institute of Business Management, Pune | INR 26.80 |
| IIMs | INR 16 – 33 |
| IFHE Hyderabad | INR 16.02 |
In conclusion, graduates of LLB and LLB programmes can access a broad spectrum of rewarding professional prospects by pursuing an MBA. By exploring the variety of career options and pay scales that are open to LLB and LLM graduates with an MBA, there are numerous possibilities.
Graduates of legal and business schools are proficient to succeed in several roles and industries, whether their goals are to practice law in a corporate setting, advise on compliance issues, or launch their Businesses.
