How beneficial is MBA after law; Benefits and Implications of MBA after Law

There are successful managers and CEOs with or without the MBA degree but there are no lawyers without a law degree.  How beneficial is MBA after completion of graduation in law is probably the most relevant question to respond.  What avenues would an MBA degree open to a law graduate and instead of pursuing Masters in Law would it be a good thought to go for MBA. 

Implications of pursuing MBA after Law
Should a law graduate begin practicing law and gradually rise the ladder of seniority from lower to higher court of law or should gain the expertise of  entrepreneurship by pursuing the MBA? This is probably the reason due to which Law graduates are now turning to MBA programmes from good B schools

A law or MBA degree helps professionals build expertise in either field, for example, marketing in management, or litigation in law. But in a rapidly globalising economy, a combination could take one's career much further. And, given the demand for a combination of law and MBA qualifications, it is reasonable to expect that it would pay better than just a law or management degree. An MBA after BBA may not bring diverse knowledge and skill as pursuing it with combinations like law.

MBA opening more avenues for Law graduates
The combination of Law and MBA will build proficiency in both the areas. This would take the career to new heights. You may expect better financial earnings than what you could have earned with either the law or management degree.  Look what more can you have:

• More avenues of Personal development – intellectual stimulation, self-confidence will open up after MBA

• Law degree will call for your individual working only while MBA will give you shift from individual contribution to managing others

• You will remain competitive to enhance your career

• It will open avenues of high financial returns

• Your MBA will give you more potential network

• The opportunity of becoming a business decision-maker will come after MBA

• Working with a law firm initially will be an expanded role compared to other lawyers

• You can very well move to management, in a field such as Investment Banking or in a Business Development role. You may also opt to become a Consultant, instead of playing a traditional legal or management role

• You can become an in-house Legal Counsel for a global company or can make your global presence felt.

How an MBA will turn you into Decision maker
While Manoj Kohli managing director and CEO (International), Bharti Airtel holds degrees in commerce, law and management, Aditya Ghosh CEO of Indigo Airlines remains a law graduate without an MBA.  Ghosh is of the view that running a business needs deeper understanding of the regulatory environment in sectors like aviation and had there been a course in his time that offered law and MBA, he would have gone for it. 

There are not many MBAs in the industry with the good knowledge of law or holding a law degree. The need is more in the sectors like marketing, sales, supply chain, real estate.

Corporate sector welcomes the talent with a mix of law and management qualifications as it is considered a good and rare combination.  Besides, lawyers also need basic understanding of the various issues challenging the corporate sector in regard to securities, insider trading, company, arbitration, and takeover.

Only a Law degree may not suffice
MBA bridges the knowledge gap by bringing management and law together. All the MBA courses teach management skills but they remain striving for company, labour, industrial and commercial law. Even at a very senior management position this gap is felt.

In the current scenario more merger and acquisitions are taking place and only a law graduate may not be capable to handle such cases. If you become an investment banker, it will be better to have the degree of law with MBA from a good B school. It is better to become a business decision-maker than being a mere business facilitator. Law graduates can accomplish the business side of things with MBA degree. If a law graduate does MBA, he will not only be managing the things more efficiently but also will have fair knowledge of certain intricate activities.

MBA after law; gateway to entrepreneurship
Lawyers create a desired diverse perspective to an MBA program.  At times you may not enjoy starting your career only being a lawyer wearing a black coat/robe and remain a number in the crowd. You might like to do some analysis and based on your research and putting in 2 to 3 years with some good law firm would want to start your own law firm.  Now you may not do well without an MBA.  Your MBA will complement the ambition of opening a Law firm. It is definitely more valuable to start a law firm with the knowledge of business aspects.  An MBA degree before starting your law firm will provide valuable business insights which will be instrumental in running the organization more intelligently in this competitive scenario. Your MBA will also build a good business network and probably you would be able to rein in more business opportunities. Yours will become the most chosen law firm as it has more business insights.

Sectors that you can join
Corporate sector needs more Law professionals with a combination of MBA.  The annual salary structure goes as high as Rs.30-40 lakhs .  Major sectors needing these professionals are  Manufacturing; Service Industries; Government & PSUs; FMCG; Infrastructure; Education; Healthcare; Retail; Tourism & hospitality; Automobile; Banking; Finance; Insurance

There are number of Universities and colleges that offer Law degree and MBA programmes like NALSAR Hyderabad, TAPMI Manipal, Alliance University, VIPS and Delhi school of Business; Delhi University.  You have to find out which b schools are open for admission.