If you're thinking about going back to school to pursue an advanced degree, have you considered legal studies? Whether you're in human resources, healthcare, real estate, or even finance, an M.L.S. degree can be a worthwhile investment for your career prospects.
How a Master of Legal Studies Offers an Advantage in Your Career
The valuable and specialized legal knowledge you gain from an M.L.S. program can help you build a competitive advantage in your career. In this specialized type of legal program, you'll have the opportunity to become familiar with various regulatory and compliance requirements in your field of work as well as other complex legal issues and nuances that may come into play.
In turn, having this level of knowledge could lead to more leadership opportunities as you help your organization remain compliant and in solid legal standing.
What You Can Do with a Master of Legal Studies Degree
So, what can you do with a Master of Legal Studies degree? Because it is applicable across numerous fields, the possibilities are nearly limitless. This type of degree even grants the opportunity for working professionals to venture into law-adjacent careers.
If you're already committed to a non-legal field but would like to better understand the regulations, compliance standards, and other key legal aspects of your industry, an M.L.S. program is ideal.
Master of Legal Studies Career Paths
One of the top reasons to pursue a Master of Legal Studies degree is the variety of career paths for which you can qualify with this program. And while this list of Master of Legal Studies careers is by no means exhaustive, it can help you get a better feel for the kinds of opportunities that may be out there after you graduate.
Management Analyst
Financial management analysts play an essential role in researching and recommending ways for organizations to improve their operations and overall efficiency. Having an M.L.S. degree is beneficial to those in this field, specifically regarding following regulatory compliance standards.
According to the United States Bureau of Labor Statistics (BLS), management analysts earn a median pay of $95,290 annually (based on 2022 data).
Contract Negotiation Manager
With an M.L.S. degree, you may also meet the qualifications to work as a contract negotiation manager or purchasing manager. These professionals are responsible for negotiating pricing on goods, products, or services on behalf of their organizations. An M.L.S. degree can be practical in this line of work, especially when it comes to understanding regulatory compliance issues related to legally binding contracts.
According to BLS data, the median salary for a purchasing manager was $75,120 per year in 2022.
Labor Relations Specialist
Labor relations specialists most often work in human resources. One of the most important aspects of a labor relations specialist's job is to oversee and resolve disputes between employees and management, often as they relate to labor contracts and negotiations.
In such a role, having extensive knowledge of contract negotiations, human resources, and regulatory laws surrounding the HR field can really come in handy. This is why an M.L.S. degree is extremely useful if you aspire to work as a labor relations specialist or in a similar role.
Based on 2022 BLS data, the median pay for a labor relations specialist was $82,010 per year.
HR Manager or Director
Another potential career option for those with a Master of Legal Studies degree is that of human resources manager or human resources director. In this type of job, professionals take on crucial tasks within an organization that range from planning and coordinating administrative functions to directing entire human resources departments. With these responsibilities in mind, it makes sense that HR managers benefit from the extensive knowledge of employment law and compliance regulations that would accompany an M.L.S. degree.
On average, human resource managers make a median pay of $130,000 annually (based on 2022 BLS data).
Compliance Director
Typically, compliance directors are hired by companies and organizations to ensure they are properly adhering to and complying with industry-related regulations and laws. As you can probably imagine, then, an in-depth understanding of regulatory compliance standards and other industry-specific laws is a must in this line of work. This is exactly the kind of knowledge and experience that a specialized M.L.S. degree program can provide.
Although salaries for compliance directors can vary greatly from one industry to the next, BLS data reports that the annual median wage for this position was $71,690 in 2022.
Health Services Manager
Medical and health services managers work in the healthcare field to ensure proper planning and coordinating of business activities within a healthcare facility. More specifically, health services managers may be employed by doctor's offices, hospitals, nursing home facilities, and other medical offices to manage the day-to-day business operations within a practice. Having an extensive background in healthcare law and regulatory standards (including HIPAA and other information privacy laws) is a must, and these types of topics would be covered in a Master of Legal Studies program healthcare track.
According to 2022 BLS data, the median salary of a medical and health services manager is $104,830 per year.
Operations Director
Operations directors play a critical part in any organization, often overseeing individual departments or even entire facilities. Sought out in both the public and private sectors, operations directors handle everything from managing daily operations to human resources planning. With so many different responsibilities, these professionals must have a high level of knowledge and expertise in human resource laws, regulatory compliance standards, and similar topics typically covered in a comprehensive M.L.S. degree program.
Based on BLS data, the median salary for a general/operations manager or director is $98,100 per year.
Business Analyst Supervisor or Management Analyst
Those who are working in finance and interested in law-adjacent careers may want to consider becoming a management analyst or business analyst supervisor. Similar to the work of a management analyst, a business analyst helps streamline the operations of a business or organization, putting their regulatory and legal expertise to work on a daily basis.
Business analyst supervisors and management analysts typically work in professional services, finance, or government—with median salaries ranging from $85,280 to $101,900 annually depending on sector and other factors.
Who Would Benefit from a Master of Legal Studies?
Professionals across a variety of careers stand to benefit from an online Master of Legal Studies. This is because many M.L.S. programs offer numerous tracks often in these areas:
- Cybersecurity/AI
- Human resources
- Investment banking
- Real estate
- Construction
- Healthcare
Studying a track offers specialized knowledge, information, and skills related to your field or industry. For instance, if you decide to pursue an M.L.S. track in healthcare, you'll have the opportunity to learn specifically about healthcare law and policy, HIPAA and similar regulations, healthcare risk management, and other hot topics in healthcare regulation.
Meanwhile, those who choose a real estate and construction track get to dive into relevant legal topics such as title insurance law, land use planning and zoning, housing regulations, real estate investment and finance law, and much more.
No matter the industry in which you are involved, a Master of Legal Studies degree can empower you to pursue law-adjacent careers and other career advancement opportunities that could help you achieve your professional goals.
Potential Salary Opportunities for a Master of Legal Studies
A quick look at the list of Master of Legal Studies careers outlined above demonstrates the wide range of salaries that exist. The average salary for someone with a Master of Legal Studies degree varies based on a range of factors, including your specific field of study, level of experience, and geographic location. However, simply having an M.L.S. degree alone can increase your earnings potential significantly compared to that of a bachelor's degree.
According to data from Indeed, for example, the average earnings increase from the bachelor's to master's level is about 20%. In this sense, the initial investment needed to obtain a Master of Legal Studies degree can pay off many times over down the road.
Who Should Earn a Master of Legal Studies Degree?
There are many working professionals who can benefit from earning an M.L.S. degree, especially those currently working in law-adjacent careers or jobs. People in the fields of human resources, real estate and construction, finance, healthcare, and cybersecurity and AI are among those who would stand to benefit the most from an M.L.S. In addition, you might want to consider an M.L.S. degree if you're interested in career advancement or increasing earning potential in your current field.
How Is an M.L.S. Different from a J.D.?
While M.L.S. and Juris Doctor (J.D.) degrees are both advanced credentials in the legal field, they also differ in several ways. The biggest difference here is that those with J.D.s can practice law, whereas M.L.S. degrees are designed for those working in law-adjacent careers.
Want to Elevate Your Career by Pursuing a Master of Legal Studies?
If you're looking to level up your compliance and regulatory knowledge in your current field, then there are numerous reasons why a Master of Legal Studies is worth pursuing. With the skills and knowledge acquired from an M.L.S. program, you can advance your career and build your reputation as a leader in your field.
Of course, not all M.L.S. programs are created equal. Ideally, you want to find an online Master of Legal Studies program with flexible scheduling so you can work toward your advanced degree without having to sacrifice your current career. At the University of Miami School of Law, we offer a 30-credit-hour M.L.S. program, available with 100% online coursework that can accommodate part-time enrollment.
With specialized tracks, our M.L.S. online curriculum is designed to help you succeed in any field. From healthcare and technology to human resources, real estate, and finance, you can select the track that best suits your interests. Learn more about Miami Law’s online M.L.S. program or start filling out your online application today!
Sources
https://admissions.law.miami.edu/academics/M.L.S./
https://admissions.law.miami.edu/academics/M.L.S./curriculum/
https://www.indeed.com/career-advice/pay-salary/how-much-does-degree-increase-earnings
https://admissions.law.miami.edu/apply/index.html
https://www.bls.gov/ooh/business-and-financial/management-analysts.htm
https://www.bls.gov/ooh/business-and-financial/purchasing-managers-buyers-and-purchasing-agents.htm
https://www.bls.gov/ooh/business-and-financial/labor-relations-specialists.htm
https://www.bls.gov/ooh/management/human-resources-managers.htm
https://www.bls.gov/oes/current/oes131041.htm
https://www.bls.gov/ooh/management/medical-and-health-services-managers.htm
https://www.bls.gov/oes/current/oes111021.htm
