Anaya Nolan
A law degree is a great foundation for a career in consulting. While it is not always necessary, it can improve a consultant's credibility and broaden their career opportunities. Many lawyers transition into consulting because it offers a better experience at a comparable pay scale. Consulting offers more variety in workload, travel opportunities, and exposure to different industries. However, those with a law background may need to develop their quantitative and analytical skills to succeed in consulting. Top consulting firms actively recruit from top law schools, including Harvard Law, Columbia Law, UVA School of Law, and Stanford Law. Legal consultants, who provide strategic advice without court involvement, typically have a bachelor's degree and a Juris Doctorate (JD) from law school but do not need to pass the bar exam. They often complement their legal studies with coursework in business administration, economics, or public policy.
| Characteristics | Values |
|---|---|
| Chances of getting into a consulting firm | Similar to a friend at a top MBA program. The better the law school, the better the chances. |
| Examples of top law schools | Harvard Law, Columbia Law, UVA School of Law, and Stanford Law |
| Workload | More diverse than a lawyer's |
| Travel opportunities | More than a lawyer's |
| Exposure to different industries | More than a lawyer's |
| Skills required | Drive, work ethic, quantitative skills, analytical skills, communication skills, negotiation skills, and proficiency in Excel and financial modelling |
| Pay | Comparable to a lawyer's |
| Nature of work | Proactive strategy instead of reactive strategy |
| Type of degree | A law degree is not a prerequisite but can improve a consultant's credibility and broaden their career opportunities |
| Other degrees | Business Administration, Economics, Public Policy, International Relations, Criminal Justice |
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What You'll Learn
Law school to consulting
A law degree is a great starting point for a career in consulting. In fact, many top consulting firms actively recruit from top law schools, including Harvard Law, Columbia Law, UVA School of Law, and Stanford Law. Consulting can offer a better experience and comparable pay to a career in law, with more diverse work, travel opportunities, and exposure to different industries.
However, it's important to note that a career in consulting will require additional skills and knowledge beyond what is typically covered in a law degree. In particular, you will need strong quantitative and analytical skills, which are not always a focus for law students. It is highly recommended that you develop skills in Excel and financial modelling to prepare for a career in consulting.
If you are still in law school and considering a career in consulting, it is a good idea to gain practical experience through internships or related work. You should also get involved in extracurricular activities or volunteer work related to law, which can make your applications stand out. Maintaining a high GPA is also important, as this can impact your chances of breaking into the industry.
For those who have already begun their legal career, the pathway to consulting will depend on how long you have been practising law. If you have been a lawyer for less than two years, you may be able to enter a consulting firm at the undergraduate level, which will give you more time to learn on the job. If you have been a lawyer for more than two years, it is recommended that you build and demonstrate functional expertise in a specific area, such as biotech. This will make it easier to transition to a partner track in a consulting firm that specializes in that area.
Overall, a law degree can be an excellent foundation for a career in consulting, but it is important to recognize that additional skills and knowledge may be required to succeed in this field.
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Consulting as a lawyer
Consulting is a popular career path for lawyers, as it offers a comparable pay scale and a more diverse workload. Lawyers often transition into consulting to be involved in proactive strategy and help set a company's course, rather than being called in to fix something reactively. Consulting also offers more exit opportunities and greater flexibility, which can be beneficial for work-life balance.
However, it is important to note that consulting also comes with certain challenges. For example, as a consultant, you may be expected to have a broader knowledge base and stronger analytical skills than lawyers, and you may need to put in extra work to develop these competencies. Additionally, if you join a consulting firm later in your career, you may feel like an outsider as many consultants spend their entire careers at the same firm.
To become a consultant, lawyers can either transition from a legal role or apply for consulting roles directly. The chances of breaking into a consulting firm are similar for law school graduates and MBA program graduates, with graduates from top schools having an advantage. Consulting firms value a commercial understanding of the work over legal principles, and candidates with strong analytical skills and a broad understanding of the business and regulatory environment are preferred.
Lawyers who become consultants have the advantage of industry experience, which is valued by clients. They can also leverage their legal expertise to provide strategic advice and help clients make sound legal decisions, ensuring compliance with the law.
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Educational requirements for legal consultants
The legal consulting industry demands a high level of expertise, and educational requirements are crucial for ensuring that consultants possess the necessary knowledge and skills to perform their duties effectively. While a degree is not a strict prerequisite for a career as a legal consultant, a strong educational foundation is essential for gaining client trust and delivering high-quality services.
Traditionally, a law degree was the primary gateway into legal consulting, and it remains a significant pathway today. A Juris Doctor (JD) or Bachelor of Laws (LLB) provides a deep understanding of legal frameworks, principles, case law, and statutory regulations. Legal consultants with this background are well-equipped to offer expert legal advice, draft legal documents, and navigate complex legal issues.
However, the field is evolving, and there is a growing trend towards valuing interdisciplinary education. Modern legal consultants often complement their legal studies with coursework in business administration, economics, or public policy. A degree in International Relations can be advantageous for consultants working in global or multinational contexts, as it covers international law, diplomacy, and global economic systems. Degrees in Criminal Justice provide insights into the criminal justice system and are well-suited for roles involving criminal law and forensic analysis.
In addition to formal education, practical experience and specialized certifications are highly valued by employers. Continuous learning is vital for legal consultants due to the ever-changing nature of laws, regulations, and industry standards. Staying informed about the latest legal trends, regulations, and case law through legal journals, blogs, and publications can help consultants excel in this dynamic field.
Relevant work experience is crucial for aspiring legal consultants as it bridges the theoretical knowledge gained through education with its practical application. It provides invaluable insights into the legal profession, enhances overall competency, and helps consultants develop essential skills to address the multifaceted challenges they may encounter in their roles.
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Pros and cons of consulting vs law
A law degree can open up a wide variety of career paths, including working as an attorney in a law firm, pursuing a career in government or public interest law, or becoming a judge. Beyond these traditional legal roles, a law degree can also lead to opportunities in industries such as business, finance, and entertainment.
Pros of Law
- Diverse career opportunities: A law degree offers a wide range of career possibilities, including traditional legal roles such as criminal law, family law, corporate law, and environmental law.
- High-paying jobs: Law school graduates often have access to prestigious and high-paying careers, including roles in civil litigation, real estate law, or intellectual property law.
- Intellectual challenges: The rigors of working in the legal profession can be satisfying and purposeful, offering intellectual challenges and the opportunity to use one's qualifications to serve underprivileged communities or make positive contributions to society.
- Skill development: Law school can help graduates excel in critical thinking, analytical reasoning, and communication—skills that are valuable in any profession.
Cons of Law
- Emotional toll: Dealing with legal cases, especially those involving distressing topics, can be emotionally draining for lawyers.
- Lack of creativity: While some legal work involves creative thinking, much of it is rooted in precedent and adherence to established rules, which may not satisfy those seeking more creative outlets.
- Limited job market: The availability of legal positions can vary based on geographic location, the legal field, and market demand, making the job search competitive.
- Ethical challenges: Lawyers frequently encounter ethical dilemmas, including client confidentiality, conflicts of interest, and maintaining professional integrity, which can be morally complex.
- Financial considerations: The cost of tuition, law school debt, and the competitive nature of the legal profession are significant challenges to consider.
Consulting, on the other hand, is a career path that offers a different set of opportunities and challenges. Consulting firms typically hire at the post-MBA level, and while a law degree is not always required, it can provide a strong foundation in legal expertise that is valuable in consulting work.
Pros of Consulting
- Comparable pay scale: Consulting offers a similar salary range to law, with the added benefit of potentially working fewer hours to earn a high salary.
- Diverse workload: Consulting work can be more diverse than legal work, offering exposure to different industries and proactive strategy development for companies.
- Travel opportunities: Consulting may involve travel, which can be appealing to those who want to explore different places while working.
Cons of Consulting
- People skills required: While good people skills are beneficial in both careers, they are an absolute must for management consulting, as consultants must present their findings persuasively to clients.
- Networking: Transitioning from law to consulting may require serious networking efforts, as well as developing additional quantitative and analytical skills.
- Less focus on legal principles: Consulting firms are less interested in legal principles and more focused on seeing how you can frame your work in a business context.
- Work-life balance: While consultants may work fewer hours than lawyers, frequent travel can impact their work-life balance.
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Alternative career paths for law students
Law students who are considering alternative career paths have a variety of options to choose from. A law degree can be a great asset when pursuing careers outside of the traditional legal field. Here are some alternative paths to explore:
- Consulting: Many law students and lawyers are attracted to consulting due to the diverse work, proactive strategy involvement, and comparable pay. While it requires additional skills in analytics and quantitative methods, law students with their strong work ethic can quickly develop these competencies. Top consulting firms actively recruit from top law schools, including Harvard, Stanford, and Columbia.
- Entrepreneurship: Some attorneys and law school graduates choose to start their own businesses or pursue social entrepreneurship. A law degree can provide a strong foundation for understanding business regulations, compliance, and strategic decision-making.
- Academia: Law school graduates can explore academic careers by teaching or researching at law schools or other academic institutions. This path allows them to share their legal expertise and contribute to legal scholarship.
- Legal Psychology: This emerging area of legal practice combines psychology with legal expertise. It offers a unique career path for law students interested in the intersection of law and psychology.
- Compliance: Many companies, especially in the financial services industry, seek professionals to ensure compliance with relevant laws and regulations. Law students can excel in these roles, leveraging their understanding of legal frameworks. Compliance roles often offer remote work opportunities and competitive salaries.
- International Relations and Criminal Justice: Law degrees, particularly those with a focus on international law, can lead to careers in international relations or criminal justice. These paths can involve roles in diplomacy, multinational corporate compliance, criminal investigations, and defense strategies.
- Business Administration: Law students can complement their legal expertise with business knowledge by pursuing degrees like a Bachelor of Business Administration (BBA) or Master of Business Administration (MBA). This combination can lead to careers in management consulting or business leadership.
These alternative career paths showcase the versatility of a law degree. Law students can explore diverse options beyond traditional legal careers and find fulfilling professions that align with their interests and aspirations.
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Frequently asked questions
Yes, a law degree is a good foundation for a career in consulting. Top consulting firms actively recruit from top law schools. However, you will need to develop your commercial understanding and focus on the broader business and regulatory environment in which legal issues arise.
Consulting offers more exit opportunities and a better experience at a comparable pay scale. As a consultant, you will be involved in setting a company's course rather than being called in to fix something after it has gone wrong. You will also have more variety in your workload and exposure to different industries.
Legal consultants and lawyers often have similar educational backgrounds, but their roles differ in practice. Legal consultants provide strategic advice without going to court, whereas lawyers are equipped to advocate in legal proceedings. Legal consultants can also focus on areas like compliance or corporate strategy without needing a bar certification.
In addition to your legal expertise, you should focus on developing your quantitative and analytical skills, as well as your proficiency in Excel and financial modelling. Soft skills such as negotiation, communication, and ethical decision-making are also highly valued in the consulting industry.
Law students often combine their legal studies with another discipline, such as management, business, education, health care, or philanthropy. Other options include investment banking, venture capital, private equity, lobbying, and legal teaching positions.
