>> Introducing a career in commercial law, his views on the skills needed by trainee lawyers. Nonetheless, it may be one of the most important decisions of your career, especially since swapping specialties, even after only a few years of practice, is surprisingly challenging. You may wonder why students study business law–especially if you’re planning a career in business. What makes you think that you would be particularly suited to a long-term career at a commercial law firm such as X firm?’ (max 1,500 characters) Put yourself in the shoes of the graduate recruiter. Use at least 6 characters and one numeral, Everything You Need to Know About Working in Commercial Law. It’s ideal for anyone interested in working in commercial law at home or in South Africa and promises to train you in civil and commercial jurisdiction in a number of countries around the world, including India, the US, Australia, Canada, China, Japan, Russia, South Korea and Switzerland. While there are many routes into commercial law, a number of students turn to LLMs (which is short for master of law) as a way to specialize. With so many options to choose from, deciding what to specialize in when you’re fresh out of law school can be a daunting process. To get access to our premium content, join Bright Network for free just here. While you wouldn’t be expected to turn up to an interview with the in-depth expertise of an economist, you should be able to discuss business trends and the marketplace like someone who actually reads the business press and keeps up with the news. A transaction will qualify to be international if elements of more than one country are involved. While working or studying in commercial law one should consider this point as while going for law study one of the difficult point is to select the stream. In fact, salaries tend to be high from the get-go, with graduate corporate lawyers in the US earning as much as US$57,600 in their first year and salaries may rise to up to US$252,100 later with seniority, according to PayScale. For example, you could specialise in finance law and advise on deals such as mergers and acquisitions (M&A) or initial public offerings (IPOs). Obviously, salary will vary by country, but corporate lawyers tend to earn a lot of money around the world; including between US$31,600-157,400 in the UK, US$46,300-117,200 in Canada, and up to US$143,700 in Singapore. If you’re interested in finding out more about this course, we did a great piece on the perks of doing an LLM last year. A sound knowledge of law and high-level writing and reading skills aside, many law firms will ask that you demonstrate “commercial awareness”. Services Expert Roster. The specialism in International Commercial Law will appeal to law graduates and non-lawyers at all stages of their careers and from around the world who have an interest in the commercial dimension of international legal issues. Sponsored by the University of Johannesburg. Please login or register to post comment above our articles. When you apply depends on whether you’re studying law or not: If you don’t get a place on a training contract first time round, you still have the option of going to law school, although you’ll need to finance it yourself. Commercial lawyers are solicitors who advise companies and governments on business-related issues. QS Quacquarelli Symonds Limited 1994 - 2020. you want to study in by taking our quick survey. Working in commercial law, you would be spending your time advising clients on various day-to-day legal issues that may arise as they manage a business. Here’s a quick outline of the the things you should be aware of while at university if you’re thinking about becoming a lawyer – you’ll find more detail on each of them later on in the guide: Once you're confident that commercial law is the career for you, you'll need to apply for training contracts with a selection of firms you feel you'd enjoy working at. Administrative Law Judges Regardless of the practice area you specialise in, there are certain personality traits and skills that are important: We interviewed Hammad Akhtar, the partner responsible for graduate recruitment at the leading law firm Ashurst, to find out his views on the skills needed by trainee lawyers. The longest running formal career development resource at ASIL, the Careers in International Law: A Guide to Career Paths in International Law is an invaluable publication for everyone from pre-law majors to current lawyers looking to move into the practice of international law. Depending on the law firm, you might specialize even further in a particular practice area like dispute resolution, capital markets or banking. At the same time, this will also help you make decisions about the type of law firm you'd like to work at. Where are our offices based? Commercial law is developing in leaps and bounds because we all are in some way or the other involved in commerce, which means that we’re selling goods, we’re selling services, we’re all in employment, and we plough those funds back into commerce. To be eligible, you just have to register by 2018 and complete your master’s degree within two years. Thank you for sharing this information about commercial law. A graduate recruiter would expect you to know the answers to the following questions: who are our clients? Working in commercial law, you would be spending your time advising clients on various day-to-day legal issues that may arise as they manage a business. Commercial law is about applying legal knowledge to real-life business situations. All rights reserved. Salary packages tend to include bonuses ranging between US$1,300 and US$51,200 as well as profit-sharing proceeds of up to US$157,600 depending on the company.