Counted amongst the most lucrative options for a career in law, corporate lawyers work in an assorted range of organisations on the legal aspects and facets of the financial world. From working through the nuances of financial transactions, their standing in terms of domestic and international laws to supervising mammoth deals of takeovers, mergers and acquisitions, they act as vital wheels in running the industry. Further, the importance of corporate law is also being felt in emerging fields of cyber law and environmental law, amongst others. Parallelly, course offerings around the world have rapidly increased vying to cater to the demands of budding individuals. Read on to know how you can build a successful career as a corporate lawyer through this detailed blog.
Also Read: How to Become a Lawyer
This Blog Includes:
Before diving into a discussion on careers, it is important to give an overview of corporate law as a discipline. In particular, it involves the development of hands-on knowledge and understanding of financial codes and regulations, preparation of legal documents and contracts, legal streamlining of operations, etc. Since it is a mix of finance and accounting with law, a solid grasp over both disciplines is an absolute must. Its various specialisations include stocks and securities, financial organisations, bankruptcy, zoning laws, intellectual property rights, tax and much more. Corporate lawyers now work not only in courts but also as legal counsels, legal advisors, attorneys, compliance experts and even company secretaries.
Also Read: How to Become a Company Secretary
How to Become a Corporate Lawyer: Courses
Core corporate law careers most often requires an advanced degree in law such as BBA LLB, LLB, LLM and a PhD in Law along with dual degrees which offer a mix of law with Public Policy, Engineering, Humanities or Public Health and a host of other spheres.
- LLB: This is a preliminary degree in law typically undertaken after earning an undergraduate degree. It introduces an individual to the fundamentals of legal concepts and procedures. Major corporate law subjects include torts, business law, company law, mergers and acquisitions and so forth.
- LLM: Building further on the LLB degree, the Master of Laws program provides the much-needed edge and proficiency when it comes to corporate law. With options of specialisations in banking and finance law, bankruptcy codes, international corporate law, intellectual property law, budding corporate lawyers innumerable avenues to explore.
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How to Become a Corporate Lawyer: Skills
In addition to a concrete grasp over law-related fields and specialisations, a corporate lawyer must also possess skills of:
- Updated with the recent developments like law amendments in the field of law
- Quick Decision Making
- Excellent communication skills, especially oratory
- A Hands-on approach
- Research & Analysis
- Critical Thinking
- Exceptional Writing abilities
- Negotiation and Liaison skills
How to Become a Corporate Lawyer: Universities
Law has been an indispensable part of course offerings at law colleges across the globe. Moreover, with the constant expansion of fields and especially in corporate and commercial law, they not only offer industry-inclined courses but also scores of opportunities to explore. Prospective students must know that in order to gain entry into such degree programs, the application procedure requires submission of official GRE/GMAT/LSAT or IELTS/TOEFL scores along with copies of official transcripts, CV, Statement of Purpose (SOP) and Letters of Recommendation (LOR), amongst others. Take a look at the following degree programs offered by some of the highly ranked universities across the globe.
|Name of University||Location||THE World University Rankings 2021||Courses|
|Australia||31st||Master of Banking & Finance Law
Master of Commercial Law
|UK||=51st||LLM International Business &
|The University of
|Australia||=51st||Bachelor of Commerce &
Bachelor of Laws – Business Law
|The University of
|Australia||=62nd||PhD – Business and Commercial Law
MPhil-Business and Commercial Law
Master of International Commercial Law
|UK||91st||LLM Law -Banking & Finance Law|
|UK||=92nd||LLM Intellectual Property & Digital
|UK||=121st||LLM Corporate & Commercial Law|
|Brunel University||UK||351-400||Master of Law in International
Mentioned below are the top recruiting companies for corporate lawyers-
- Anand and Anand
- Khaitan and Company
- Shradul Amarchand Mangaldas and Company
- Sagar Associates
- Trilegal India
- Vaish Associates
- Desai and Dewanji
- Lakshmikumaran and Sridharan
- S&R Associates
Average Salary of Corporate Lawyers
The salary in the field of law is completely driven on the basis of industry experience. Freshers may start with an average salary but with each passing year adding to their experience, they can opt for jobs having better pay packages. The average salary one may earn during the start of their career is also dependent on the type of law firm they have chosen. The estimated salary of freshers in this industry is around 12-15 Lakh per annum.
Pros of Becoming a Corporate Lawyer
If you are looking forward to becoming a corporate lawyer, then, check out some of the pros of this job profile-
- Corporate lawyers are offered lucrative salary packages as compared to other law related job profiles.
- Experienced corporate lawyers are also hired by organisations as a member of the policymaking committee
- Such lawyers need not work from the court rooms. They can work conveniently from their offices.
Cons of Becoming a Corporate Lawyer
Here are some of the cons that you may be have to face being a corporate lawyer-
- It is observed that the daily job of a corporate lawyer tends to get mundane.
- Usually, the work of corporate lawyers involves a lot of pressure as they tend to work for long hours and have hectic schedules.
Starting your career as a corporate lawyer requires an in-depth comprehension of the various concepts involved. Needless to say, a strong degree plays a vital role in this respect. Take assistance of Leverage Edu’s AI-tool which narrows down university choices based on your personalized skills and inclinations so that you make an informed decision towards a rewarding career.