As many people already know, law school is extremely expensive, and students typically need to borrow hundreds of thousands of dollars to earn their law degrees. It might be difficult to think about any further education after receiving a law degree, since law graduates are usually saddled with an insane amount of debt. However, law students can obtain further degrees in law, and one such credential is an LLM degree. Since these degrees are typically expensive to obtain, there are only a few situations when you should get an LLM degree.
When I was a student at Georgetown Law, I lived in the dorm on campus so it was easier for me to get to and from classes. Some of the students who also lived in the dorm were obtaining their LLM degrees, and I had several friends in law school who were in Georgetown Law’s LLM program. All of my friends obtaining LLMs were in a tax law LLM program, and my friends exemplify one situation when you should get an LLM degree.
If you are interested in working on tax law matters, it might make sense to obtain an LLM in tax law. As many attorneys can tell you firsthand, tax law is very complicated, since tax law issues are a lot more complex than normal legal matters lawyers deal with every day. It might be difficult to learn all of the tax law information you need in practice while working at a firm, so it makes sense to obtain an LLM in tax law so you can learn this information in a classroom setting.
Also, many law firms and other companies that seek tax law attorneys look for candidates who have LLM degrees in tax law. This is because employers know that candidates with LLMs are likely to know more about tax law issues than many other candidates competing for tax law jobs. As a result, not having an LLM degree can put you at a disadvantage when progressing in the tax law field, and entering the tax law arena is an important situation when you should get an LLM degree.
It is important to note that tax law LLMs from only a handful of programs are likely to be impressive to prospective employers. Georgetown Law and NYU Law are typically considered to have the top tax law LLM programs in the country. In addition, I have heard good things about the tax law LLM program at the University of Florida. Since LLM degrees can cost a high five-figure sum to obtain, it is critical that you do your research and only enter a program that is going to provide you value as you progress in your career.
It is important to mention that some law schools have programs that allow students to complete an LLM degree at an accelerated pace. It typically takes an entire year of full-time study to complete an LLM, and some programs take longer if students satisfy degree requirements on a part-time basis. However, I am pretty sure that my alma mater, Georgetown Law, allowed students to complete an LLM with just one additional semester of study, and accelerated programs can be another situation when you should get an LLM degree, since these allow you to save money.
Besides tax law, there are few other fields in which an LLM can provide substantial value to students. Indeed, it is a joke among law school community members that LLM programs are simply money-makers for schools, since they cost a lot of money without providing substantial value. However, there are a few other situations when you should get an LLM degree.
For one, an LLM degree might be needed for some bar candidates to sit for a state’s bar examination. Some states permit foreign-trained lawyers to take the bar exam and become an attorney in that state only if they have an American LLM degree. Certain states waive this requirement for graduates of law schools in countries with legal systems similar to the United States. However, studying for one year for an LLM is far better than enduring three years of law school, and being eligible for the bar exam is one situation when you should get an LLM degree.
Furthermore, students may want to obtain an LLM degree in order to have the prestige of a top school. It is usually easier to be admitted to LLM programs than regular JD programs, since LLM programs are lucrative to schools and LLM enrollment statistics are usually not considered in law school rankings. As a result, it is easier to become a graduate of a top university as an LLM student.
This could be important for a number of reasons. Individuals hoping to enter legal academia usually must boast impressive credentials, and being a graduate from a top law school, even an LLM graduate, can help a candidate advance in legal academia. In addition, the prestige of graduating from a top school may also help when securing positions in government, nonprofits, and other arenas. In any case, so long as the cost of an LLM is not an issue, adding a credential is another situation when you should get an LLM degree.
In the end, LLM degrees are expensive, and pretty much every LLM candidate has already had to borrow student loans to earn a JD degree. However, there are a number of situations when you should get an LLM degree, and this credential can be important to qualifying for the bar exam or advancing in a number of fields.
I am working on my second career. I am almost finished with my JD at Stetson College of Law, in Florida, and I plan on becoming a tax attorney. I have already been advised to also earn my LLM. The dilemma is that because this is my second career, I am grown with a full time job and full time bills. I go part time to Stetson, and would have to do the same for my LLM. UF is #3 in the country for Tax LLM programs however, it is only full time. That leaves me with University of Miami (and I 100% do not want to move to Miami) or Boston University online program. Boston U’s tax LLM is #23 in the country. Do you think this would be a wise choice for me? Do you think it will seem valuable to an employer?
Absolutely, but only if you get into a top program. My friends who graduated from top programs all got high-paying jobs that let them repay their debt pretty quickly. Thanks for commenting, and keep in touch!