Degree Overview: Juris Doctor (J.D.)/Master of Business Administration (M.B.A.) Degree in Business Law
Majors Overview March 11, 2015Get information about Juris Doctor (J.D.) and Master of Business Administration (M.B.A.) degree programs in Business Law and their education requirements, coursework, career choices, job and wage outlook, and continuing education choices.
Information on Business Law Degree Programs
Schools offer intensive JD/MBA programs that combine two separate degrees into a single four-year period; the programs would otherwise span five years if taken separately. Students, who normally alternate between each area over the first two years of the program, usually take business and law courses together over the last two years. There is an emphasis in the program on knowledge of general management and law.
Education Requirements
Incoming students to a JD/MBA program are expected to submit applications to both business and law schools within a college or university. Admission criteria typically require them to hold an undergraduate degree, although not in any particular major. Applicants also need the GMAT and LSAT. There is competition for access to both business and law programs, and a relatively small proportion of applicants gain admission.
Coursework
Coursework combines core coursework for each component of a JD/MBA program. Remaining credit requirements have to be fulfilled by students through the selection of electives. General law coursework may include topic areas such as the following:
•Constitutional law
•Legal research
•Legal writing
•Civil procedures
•Property
•Torts
•Criminal law
•Ethics
Core coursework for an MBA program may include topic areas such as:
•Strategic decision-making
•Economics
•Operations management
•Investments
•Organizational behavior
•Financial management
•Accounting
•Risk management
•Project management
•Marketing strategy
Elective courses from both the business and legal worlds may include the following courses:
•Bankruptcy law
•Managerial economics
•Taxation law
•Community property
•Wills and trusts
•Marketing management
•Environmental law
Career Choices
Training in both business and legal areas would benefit individuals seeking a range of career options, including:
•Mergers and acquisitions attorney
•Securities regulator
•Corporate litigator
•Corporate counsel
Job and Wage Outlook
A job growth of 10% has been predicted for lawyers, including corporate attorneys, over the 2012 – 2022 decade (U.S. Bureau of Labor Statistics). During this time span, about 74,800 more employment opportunities are expected to be available for these professionals. However, the field is expected to continue to be highly competitive. In 2012, lawyers brought home an average annual wage of $113,530 (BLS).
Continuing Education Choices
Licensure norms vary by state; however, lawyers need to pass a state bar exam and complete a law degree through a program accredited by the American Bar Association. A varying number of hours of continuing legal education hours are required to be completed annually for licensure in most states. Candidates that hold MBA degrees don’t need to satisfy continuing education needs; however, many of them seek certification from professional associations aiming to stay abreast of technology changes and current business trends.
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