Schools offering Master of Laws (LL.M.) degree programs in banking and finance allow students to specialize further in a concentration, such as international banking law, compliance management, financial services transactions or securities transactions. LL.M. degree programs typically take 10-24 semester hours to complete and cover topics such as U.S. corporate law, international finance, taxation and international law.
In order to gain admission to an LL.M. program, students must already hold their J.D. All professional lawyers must also pass the bar exam to practice any form of law.
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Master of Laws in Banking and Finance
The courses in an LL.M. in Banking and Finance generally cover financial regulation, financial transactions, and economic principles. International lawyers who are interested in studying banking and finance law in the United States will often be required to take an additional course in U.S. law and legal institutions. Some specific courses include:
- Financial institutions and accounting
- Mergers and acquisitions
- Banking regulation
- Commercial lending and compliance
- Government regulation
Graduates of an LL.M. program in banking and finance gain the specialized skills to practice financial law in institutions including:
- Law firms specializing in financial law
- Financial services organizations
- Regulatory agencies
- Banking services
As of 2015, roughly 609,930 lawyers were employed in the U.S., according to the U.S. Bureau of Labor Statistics (BLS). That number was expected to grow 6% by 2024, which is about average. Median annual earnings for lawyers came to $115,820 as of May 2015, reports the BLS.
An LL.M. program in banking and finance allows lawyers and law school graduates to focus on the legal aspects of everything from bankruptcy to securities transactions and business mergers.