How Pursuing An MBA Benefits Lawyers
Pursuing an MBA after getting a degree in law has become an increasingly popular choice among lawyers. Whether you are someone who has made up your mind on going to business school or someone who is considering the option, you must have wondered at some point whether pursuing an MBA is really worth it? Here are some of the benefits of earning an MBA degree after/ while attending Law School.
- 1.Understanding business operations
Knowledge of how businesses work will definitely help lawyers in understanding company operations. Especially in the case of corporate lawyers, understanding the clients’ perspective and intentions will help them develop a better solution. It also depends on what kind of MBA degree you are interested in. But for in-house lawyers, it is often encouraged to go to a business school.
As higher up you go on the corporate ladder, the more responsibilities are put on your shoulders. Your interactions with the management and senior officials will also increase. Business skills will prove invaluable in such cases. Various opportunities would also open up inside the company for you.
- 2. Business School environment
The whole business school experience will help you shape a successful professional life. The curriculum in top schools consists of a lot of team presentations, business case analysis, etc. Your team orientation skills will be honed. You also get the opportunity to network with future business leaders. If you need any professional guidance these networks would really come in handy.
Whether you want a joint degree or go to business school later is totally up to you. A two-year MBA program is a big financial investment. But also attending a business school after a few years of work experience helps you make better contributions in the classroom and understand case studies.
- 3. Personal growth
Apart from gaining academic knowledge, you would also improve your personal growth and development. You will feel even more confident in talking to clients and accomplishing their wishes through parameters of law. The evidence of having earned two degrees will reflect when you talk. You will make better contributions in the office, not only pertaining to your field but also understanding other sectors like marketing, finance, etc.
And if you are planning on opening your own firm, then learning how businesses function will help you build a strong foundation for your company. Knowing how and where to start will ensure a successful boost for a new firm.
- 4. Career prospects
There is a huge demand for people with knowledge of both management and law in the industry. Especially in this globalizing economy, the combination of law and MBA proves beneficial across sectors like marketing, sales, finance, supply chains, etc.
This again depends on the kind of degree you are looking at and your field of interest. The track record for lawyers specializing in Mergers and Acquisitions, Banking and Finance, etc. and pursuing MBA has been successful. Switching career also becomes easy with dual degrees. If you planning on taking a managerial role, opening your own firm or changing career paths altogether, you have the necessary knowledge and skillset.
An MBA coupled with Law may not be for everyone. It is advisable to pursue an MBA only if you are passionate about business and learning these operations. That being said, it is a remarkable experience and a great way to expand your knowledge and network. You build your confidence and even though there might be a few tangible benefits, it is a fantastic opportunity for someone who has a passion for learning.
