There’s no getting around it – a Master of Laws (LLM) is an investment.
The tuition fees, the textbooks, the course materials… it all adds up. Understandably, the big question for many lawyers considering the course is: will it pay off?
Well, the short answer is YES.
According to the College of Law’s recent salary survey, lawyers who complete a Master of Laws than those who don’t.
But the benefits extend far beyond economic gains.
Postgraduate legal study can enhance your credibility, boost your professional network and broaden your career prospects.
In this article, we uncover just how much you stand to gain by enrolling in the LLM. The number will surprise you.
The LLM return on investment: A breakdown
Okay, so let’s take a closer look at the numbers.
The LLM at the College of Law is comprised of 8 subjects, priced at $4,150 each. That brings the total course investment to $33,200.
It’s worth noting that the College’s LLM is one of the most affordable, and we offer flexible pay options to make the tuition fees more manageable. You can opt to pay as you learn (settling the cost of one subject at a time rather than the entire amount up front) and choose FEE-HELP, where the Australian Government covers your fees and you repay them through the ATO once your income exceeds an agreed threshold.
That said, it’s still a considerable financial undertaking.
So, just how likely are you to earn it back?
Well, according to the Australian Legal Salary Survey 2024, lawyers who have completed an LLM earn, on average, around $30,000 more per year than those who haven’t. (The amount ranges from $25,000 to $45,000 depending on whether you work at a law firm, government agency, not-for-profit or corporate organisation.)
It follows that if you were to complete the LLM and then work as a lawyer for a further 30 years, you’d be looking at a potential $900,000 in additional earnings across your career.
This means you’d earn back the amount you spent on the course in under 2 years.
In short, an LLM is a smart, strategic investment in your future.
Beyond the financial gains: How the LLM can boost your career prospects
Earning potential aside, the LLM comes with plenty of additional career benefits.
- The chance to hone your expertise
The LLM allows you to focus on niche areas not covered by a general law degree.
From commercial litigation to family law, dispute resolution to wills and estates planning, there are numerous interesting paths you could go down.
Building your expertise in a specific area will help you forge a career that interests and challenges you – and can start you on the path to becoming an accredited specialist should you wish to.
If you choose a sought-after specialty, you’ll be better equipped to provide valuable advice and meet your clients’ unique needs.
- A deeper knowledge of the law
You’ll gain a more in-depth and nuanced understanding of legal principles by completing a postgraduate program – which is guaranteed to improve your practice. You’ll also sharpen your analytical skills, enabling you to approach complex matters more confidently and strategically.
What’s more, the College of Law’s LLM is practical by design, meaning you can directly apply what you learn to your practice.
Your increased expertise will position you as a trusted authority – making you an invaluable source of knowledge to employers and clients alike.
- A shortcut to more senior roles
Completing an LLM can significantly enhance your career trajectory, opening doors to more senior roles more quickly.
Employers view candidates with advanced degrees as more knowledgeable, competent and committed to their profession.
If you’re aiming for partnership or general counsel, it’s a smart way to accelerate that progression.
- More international opportunities
The LLM offers invaluable insight into international law and comparative legal systems (if you take those electives), laying an excellent foundation for a legal career on the global stage.
With subjects on ASEAN+6 legal practice and international arbitration offered by the College of Law, you’ll be well-equipped to work in diverse environments.
This global perspective can lead to exciting opportunities abroad, whether in multinational corporations, international organisations or legal firms that operate across borders.
- A wider professional network
Although the LLM is taught online, there are workshops that give you access to an invaluable network of students, facilitators and legal professionals from various disciplines – making it the ideal place to forge connections, exchange ideas and build mutually beneficial relationships.
A trusted network can serve as a powerful asset throughout your legal career, opening doors to new opportunities and collaborations.
Ready to take the next step in your legal career with a practical course you can tailor to suit your needs? That’s the College of Law way. today. Find out more about our LLM today.
A flexible pathway: The Graduate Certificate in Applied Law
If you don’t have the time or resources to pursue an LLM, the Graduate Certificate in Applied Law could be the answer.
Comprised of just 2 subjects and taken across 6 months, this option will boost your knowledge without the financial commitment of the full LLM. And you’ll still graduate with a recognised qualification to prove your increased credibility and expertise.
The lighter workload and shorter timeframe make it easier to balance with work and other commitments, and it offers an excellent opportunity to 'test the waters'.
If you start with a graduate certificate, it’ll be much easier to transition to the LLM should you choose to further down the line.
Discover more about the Graduate Certificate in Applied Law.
