MBA or LLM: which one is right for you?

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Schools around the world offer hundreds of accredited MBA and LLM programs, but before choosing one, you need to consider how they differ.

Everything you need to know about the MBA degree

The MBA (Master of Business Administration) degree is a university degree that provides theoretical and practical training in business or investment management. The MBA degree is intended to help graduates better understand the general functions of business management. An MBA degree may have a general focus or a specific focus in areas such as accounting, finance or marketing and relationship management.

The decision to study for an MBA (Master of Business Administration) is a big step for beginning managers. Is studying an MBA program abroad a good choice? Are financial investments and entry requirements justified? Is the MBA degree worth it overall?

If you are going to enter today’s competitive world of business, we believe so.

So what can you do with an MBA? An MBA offers you a number of benefits, especially if you get it at a well-rated school. Gaining a high salary after completing an MBA, gaining a managerial position, creating a strong professional network or even becoming your own boss are just some of the benefits of studying for an MBA.

The Master of Business Administration (MBA) degree is one degree higher than a bachelor’s degree in business and generally places graduates high above graduates with a mere bachelor’s degree. Most major universities and colleges offer MBA programs.

MBA programs usually include basic courses in accounting, management, finance, marketing and business law. The basis of every MBA program is teaching management with a focus on leadership, planning, business strategy, organizational behavior, and the human side of large or small business management.

MBA programs are increasingly expanding their focus to international business education and focusing on corporate responsibility and accountability within their communities.

Specialized MBA programs are also available for students whose lives and careers do not allow them to attend school full time. For example, MBA management programs are designed for working professionals who hope to complete their credentials and qualifications. These study programs usually schedule classes for nights and weekends and sometimes require short, intensive teaching stays.

MBA applications usually include the results of standardized tests, resumes, academic transcripts, essays, and letters of recommendation.

Officials in the MBA admissions process generally like to see in the MBA program application evidence of career advancement, which means that the applicant has gradually taken on greater professional responsibility. According to experts, it is also useful if candidates have success stories of how they have been able to contribute to their current society, past employers, university campus or local community.

Who is an MBA for?
There is no typical MBA student. Whereas in the past MBA students pursued careers in finance or consulting, today the average MBA class is full of students with a variety of professional backgrounds.

In the MBA class at Harvard in 2022, 69 nationalities are represented. Forty-four percent of students are women and 45 percent are American minority students. Students come from the technology industry, manufacturing, healthcare, non-profit organizations, the media and the military, but also from finance and consulting.

According to the Graduate Management Admission Council (GMAC), the main career motivations for future MBA students are: salary increases, promotions, people management and international work – and these benefits are just some of the many reasons to earn an MBA.

If you want to learn managerial skills and advance in your career, it is appropriate for you to study an MBA, whether you want to start your own business, advance within an existing company, change function, industry, location or all three options at once.

An MBA is not only designed to equip students for their further employment after graduation; it is an experience that will change their lives and allow them to change their careers five, ten and fifteen years after graduation, thanks to the skills they acquire and the network of contacts that will last them long after graduation.

Everything you need to know about the LLM title

LL.M. (Master of Laws) is an internationally recognized postgraduate degree in law. Law students and professionals often study the LL.M. program to gain expertise in a specialized area of ​​law, such as tax law or international law. Many law firms prefer LL.M. job seekers because it shows that the lawyer has received an advanced, specialized legal education and is qualified to work in an international legal environment.

An LLM degree is not a professional qualification. You do not need an LLM qualification to practice law, but the advanced education and expertise you gain can make you more attractive to law firms.

Most programs are fairly specialized, allowing you to study in depth a particular law field.

This can be useful if you want to enter a specific area of ​​legal practice – such as criminal or family law.

LLM programs can also benefit careers in other fields. For example, if you work in business or management, knowledge of the relevant economic and corporate law may be helpful.

In most countries, lawyers are not required to have an LL.M. degree, and many do not even choose to obtain one. LL.M. by itself, it generally does not entitle graduates to practice law.

Requirements for completing the LL.M. varies depending on the instructions of the respective university. Some programs are research-oriented and require students to write a thesis, while others offer only a few courses that students must complete to complete their studies. Many LL.M. combines both course work and research.

Prospective students should be aware that there is no universal definition of LL.M. Institutions around the world use it in different ways. In the United States and Germany in particular, LL.M. often designed to teach foreign lawyers the basic legal principles of the host country. In this regard, LL.M. to help lawyers who want to relocate and practice in another country or extend their practice to transnational issues. Graduation from the LL.M. however, it does not automatically qualify foreign students to pass the bar exam in the host country. In the United States, for example, some states allow foreign lawyers to seek admission to the Bar after graduating with an LL.M., while in other states a J.D. is required.

LL.M. is an abbreviation of Latin Legum Magister, which means Master of Laws. In Latin, the plural of a word is abbreviated by repeating the letter. Therefore, it is “LL.” abbreviation for “laws”. Legum is the possessive plural of the Latin word lex, which means “specific laws”, in contrast to the more general term contained in the word jus, from which the word juris and the modern English word “justice” are derived.

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