Are you planning on becoming a corporate lawyer? This guide covers how to become a corporate lawyer and the steps you need to take to become one.Â
When the average person thinks about a corporate lawyer, they often think of a person dressed in a fancy suit carrying a briefcase and fighting for a massive corporation in court. However, theres much more to what a corporate lawyer does and how they conduct business.Â
In this article, well be going over what a corporate lawyer does, how to become one, and their potential salary potential. If youre interested in a career as a corporate lawyer, keep on reading!
A corporate lawyer advises companies on the legal aspects of business operations. Their work is fast-paced, complex, and critically impacts an organization’s success.
If you’re interested in combining your analytical abilities, business acumen, and desire to help companies succeed, a career as a corporate attorney may be rewarding.
Follow this step-by-step guide to understand how to start on the path to become a corporate lawyer.
Get a Bachelor’s Degree
The first step is earning a 4-year bachelor’s degree, which is a prerequisite for law school admission. Majors like business, economics, finance, accounting, political science, history, and English develop skills helpful for law school.
Some tips during your undergrad years
- Maintain a strong GPA – this is a key law school admission factor. Shoot for at least a 3.5 GPA or higher.
- Take part in activities that demonstrate your interests, leadership, ethics, and communication abilities.
- Consider taking a legal studies class or internship to gain exposure to the field.
- Study for and take the LSAT your junior year to allow time for retakes if needed.
Take the LSAT Exam
The Law School Admission Test (LSAT) is required for law school applicants. It evaluates reading comprehension, analytical reasoning, and logical thinking – core skills for lawyers.
You’ll need to dedicate significant time to prepare through self-study, prep courses, tutoring, and practice tests The exam is difficult, so realistic preparation is key.
Top schools typically want LSAT scores above 165 (out of 180). Research target schools’ LSAT medians and aim to exceed them to be a strong applicant.
Apply to Law School
With your bachelor’s degree and LSAT score in hand, you can apply to law schools. Applications require transcripts, LSAT scores, letters of recommendation, a personal statement, and other supplementary materials.
Aim to have all components ready to submit applications in the fall one year before you intend to start law school. Research schools, attend open houses, consider visiting campuses.
Look for law schools with top reputations, strong corporate law programs, and successful job placement rates. Top choices for aspiring corporate lawyers include Columbia, NYU, University of Chicago, and University of Pennsylvania among others.
Earn Your Juris Doctor Degree
Law school takes 3 years of full-time rigorous study resulting in a Juris Doctor (JD) degree. Expect large volumes of complex reading and writing assignments.
Required 1L classes provide a foundation in laws, procedures, writing, research, and analysis. As a 2L and 3L, tailor electives like corporate law, securities regulation, banking, and tax law to your interests.
Aim for high grades to qualify for coveted spots on your school’s law review or journal, which indicate strong research and writing skills. Seek moot court, clinics, externships, and summer associate positions to gain hands-on legal experience.
Pass the Bar Exam
After earning your JD, you must pass the bar exam to qualify for a law license in your state. All aspiring lawyers must pass this notoriously difficult 2-3 day exam covering contracts, torts, civil procedure, constitutional law, evidence, and more.
Bar exam pass rates range from 60-85% nationwide. Thorough preparation through in-person or online bar prep courses is essential. Allot at least 2 months of full-time study for the best chance of passing.
Some states allow law graduates to practice under supervision while awaiting exam results. In others, you must wait for results before starting work.
Gain Legal Experience
Before specializing, new lawyers often benefit from gaining broad legal experience through judicial clerkships, public defender roles, law firm associate positions, or legal aid work. This builds practical skills, professional connections, and resume credentials.
Many new graduates start at large corporate law firms handling basic corporate matters like contracts, mergers, IPOs, and compliance. This experience primes them for in-house corporate counsel roles later in their career.
Consider an LLM Degree
Experienced lawyers can choose to specialize further with a 1-year Master of Laws (LLM) degree focused on areas like tax law, healthcare law, bankruptcy law or international business law.
These advanced law degrees are rarely required but can provide expertise in nuanced aspects of corporate law for ambitious lawyers seeking to advance their skills and career opportunities.
Obtain Licensure
Each state has its own bar licensure process new lawyers must complete before practicing there. This involves in-depth applications, character and fitness reviews, and meeting educational requirements.
Many corporate lawyers hold licenses in multiple states, especially New York and Delaware where major companies incorporate. Review each state’s rules to obtain and maintain an active law license.
Build Your Expertise
As you advance in your legal career, concentrate on building skills and reputation in specific aspects of corporate law that interest you most.
Over 5-10 years, you can become known as an expert in areas like securities compliance, venture capital deals, IPOs, mergers and acquisitions, contract negotiations, or cross-border transactions.
Developing elite expertise makes you invaluable as outside or in-house counsel for major corporations.
Move In-House
Many corporate lawyers aspire to leave law firms after 5-10 years and move in-house to a leadership legal role with one company. Top performers are often recruited for General Counsel or Chief Legal Officer positions overseeing all legal matters.
In-house corporate lawyers enjoy focusing on one business, building internal client relationships, and having a voice in strategy rather than billable hours. It offers a platform for leadership growth.
Consider Teaching
Experienced corporate lawyers are often invited to teach classes at local law schools as adjunct professors. Teaching enables lawyers to give back through mentoring aspiring attorneys. It also enhances their professional profile.
Courses taught might include corporate law, mergers and acquisitions, securities regulation, or other topics matching their expertise. Most adjunct professors are practicing lawyers teaching part-time.
Becoming a corporate lawyer takes years of hard work and perseverance through rigorous education and licensing requirements. But guiding organizations through high-stakes legal and business matters can be an extremely rewarding long-term career. Use this guide to understand the step-by-step process.
What Does a Corporate Lawyer Do?
Corporations hire corporate lawyers to represent the corporate entity. They advise businesses on their legal obligations, rights, and responsibilities. Corporate lawyers spend most of their time on the:
- Contracts: Drafting, reviewing, and negotiating on behalf of the corporation.
- Corporate governance: Creating frameworks for clients on how to conduct a business. For example, drafting articles of incorporation and creating bylaws.
- Securities: Informing clients on securities law compliance, which involves regulations to prevent fraud, market manipulation, and insider training.Â
- Mergers and acquisitions: Provide legal advice about proposed transactions regarding business mergers. Corporate lawyers would review a companys assets and liabilities, such as real estate holdings, intellectual property holdings, and employment agreements.Â
- Venture capital: Helping corporations find capital to build or expand their business.Â
Corporate lawyers rarely step into a courtroom and spend most of their days in the office conducting the legal areas of a business. Corporate lawyers often work in large or mid-size firms with corporate law departments. In these corporate law departments, corporate lawyers have a specialty and focus on areas such as venture capital or securities.Â
How To Become a Corporate Lawyer: FAQs
If you still have questions after reading this guide, check out these frequently asked questions.Â
What Does a Corporate Lawyer Do & Do You Need One?
How long does it take to become a corporate lawyer?
There are several requirements that you’ll need to meet to become a corporate lawyer, which we’ve outlined in detail below. Law schools generally require a bachelor’s degree before admission, which typically takes four years to complete. However, most law schools will allow you to apply without having received your degree yet.
What is a corporate lawyer?
A corporate lawyer is an attorney who represents the company they work for. It’s common for a larger business, and small companies too, to hire corporate attorneys to make sure it’s in compliance for its industry and following all rules and regulations.
How do I become a corporate attorney?
Follow these steps to become a corporate attorney: 1. Earn a bachelor’s degree One of the first steps to becoming a corporate attorney is to earn your bachelor’s degree in a related discipline, which can include business, finance, political science, legal studies, government and economics, from an accredited college or university.
Do you need a major to become a corporate lawyer?
There isn’t a required major a person must take to get accepted to law school. However, it’d be highly beneficial if you major in something in the business field. Having a background in business can be a great advantage when you start practicing as a corporate lawyer in the future.
