Earning a Master’s in Business Law Online
Should I Pursue a Master's in Business Law Online?
A degree in business law can lead to a variety of career paths, including some lucrative positions that do not require bar credentials. Along with corporate settings, graduates of master's programs in business law can work in human resources, contract law, compliance assurance, and consulting. Graduates often become contract negotiation managers, compliance officers, management consultants, and human resources managers.
Students who earn their master's in business law online often complete self-directed courses with flexible scheduling options. In addition to helping learners balance personal and professional obligations with their studies, setting their own learning pace can help students master complex and technical course material. Detail-oriented individuals with strong reading, writing, analytical, and critical-thinking skills tend to perform well in graduate business law programs.
Employment Outlook for Master's in Business Law Graduates
Master's in Business Law Salary
Many professionals with a master's in business law hold positions in human resources management. These managers typically earn higher salaries as they gain experience. Average salaries also vary by geographic location, depending on factors including labor market conditions and cost of living.
The tables below include employment figures and mean salaries for human resources managers based on state and experience level. The tables are composed of data from the U.S. Bureau of Labor Statistics and PayScale.
Top Paying States for Human Resource Officers
|State||Employment||Annual Mean Wage|
|District of Columbia||1,480||$149,170|
Source: Bureau of Labor Statistics
Pay by Experience Level for Human Resources Managers
- Entry-Level (0-5 Years):
- Mid-Career (5-10 Years):
- Experienced (10-20 Years):
- Late-Career (20+ Years):
Master's in Business Law Careers
Many students who earn a master's in business law online pursue the credentials necessary to become practicing attorneys. To become a business lawyer, such as a corporate attorney, candidates must hold a juris doctor (JD) and pass the bar examination.
Graduates with a master's in business law can also qualify for management careers, such as those below.
Contract Negotiation Manager
Annual Median Salary: $95,911
Projected Growth Rate: N/A
Contracts are crucial to business operations, and professionals who can negotiate terms agreeable to both parties while favoring their employer's interests are in high demand. Contract negotiation managers use their knowledge of business and contract law to help employers and clients protect and advance their operational interests.
Human Resources Manager
Annual Median Salary: $110,120
Projected Growth Rate: 9%
HR managers liaise with top executives to design, implement, and administer hiring policies; strategic planning initiatives; talent recruitment programs; and talent retention efforts. They also supervise the tracking of employee performance metrics and work to create positive, supportive, and productive environments for staff members.
Annual Median Salary: $82,450
Projected Growth Rate: 14%
Also known as management analysts and operations analysts, management consultants typically work with clients on a contract basis. These professionals audit and analyze business operations to identify inefficiencies and areas for improvement. Management consultants can work independently or as employees of consulting firms.
Intellectual Property Manager
Annual Median Salary: $91,230
Projected Growth Rate: N/A
Intellectual property includes any type of creative work with monetization potential. Intellectual property managers apply specialized legal knowledge to create documents, including employee contracts and patent applications. These documents protect creators' rights to the ownership of their intellectual property.
Chief Compliance Officer
Annual Median Salary: $112,296
Projected Growth Rate: N/A
Chief compliance officers make decisions regarding budgetary allotments and spending of company finances. They ensure their organization complies with all legal, ethical, health, and safety requirements. These professionals need knowledge of business finance and business law, and many are graduates of master's programs in business law.
Sources: Bureau of Labor Statstics / PayScale
What Can I Expect From an Online Master's in Business Law Program?
The best master's in business law online colleges provide coursework in core topics including commercial litigation, tax law, contract law, and nonprofit regulations. Learners also study the processes and legalities involved in business transactions. However, program and course specifics for students earning their master's in business law online vary by school.
Curriculum for an Online Master's Degree in Business Law
Although course requirements vary by school, the classes below are common to many master's in business law online programs.
Legal Research Standards
Even some of the best online master's in business law programs do not require applicants to hold undergraduate degrees in law or business. Therefore, many programs begin with coursework in the research methods and standards that legal professionals use daily.
Principles of Business
Accredited online master's in business law programs typically include coursework in the essential aspects of commercial operations. Students explore topics including business finance, corporate structure, and the market forces that influence and shape enterprise operations.
Corporations in many industries operate within a tightly structured and carefully enforced regulatory environment. Violations can result in massive fines and serious damage to a company's prospects and reputation. Courses in corporate compliance law examine the nature and structure of these regulatory frameworks and prepare students to comply with regulations while managing the legal aspects of business operations.
Enterprise Risk Management
While risk assessment and mitigation specialists typically hold MBA degrees, many of the top online master's in business law programs also cover this topic. Learners examine methods for assessing, analyzing, and minimizing the legal and operational risks for businesses and organizations.
Labor and Employment Law
Students in this course examine legal problems that commonly arise from employer-employee relationships. Students also explore the litigation and legal management of such situations, and they learn how labor unions and federal and state statutes protect employees and businesses.
Certifications and Licenses a Master's in Business Law Prepares For
- Professional in Human Resources: The Human Resources Certification Institute offers the PHR certification, which can help human resources managers advance their careers. Candidates must pass a three-hour, 150-question exam, and must have a master's degree and at least one year of professional experience in a related field.
- Certified Contract Manager: Available through the International Association for Contract and Commercial Management, the CCM certification demonstrates skills related to the negotiation, filing, and management of business contracts. Candidates undergo a thorough skills assessment before taking a 100-question, two-hour examination.
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