A sound knowledge of law and high-level writing and reading skills aside, many law firms will ask that you demonstrate “commercial awareness”. 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. 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. 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. If you’ve not encountered the phrase already, it’s not just a hollow buzzword, but one of the biggest differentiators between applicants. 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. Why are you interested in pursuing a career in international commercial law? The Agency is particularly interested in experts in Administrative law, contracts and commercial law, employment law, humanitarian and/or human rights law, international law, and the rule UNRWA - United Nations Relief and Works Agency for Palestine Refugees in the Near East Updated: 2020-09-10T13:37:47Z 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. Before diving into the meaning and importance of why we study business law, let's take a look at the reasons and benefits of studying business law. Thank you for sharing this information about commercial law. Don’t give up! How are they doing financially? One should do a small research about all the fields of law before selecting one. Businesses Follow the Law. A degree in business law can help an individual succeed in this career due to their knowledge of business laws, regulations, and policies, as well as taxation. So, what does it mean exactly? QS Quacquarelli Symonds Limited 1994 - 2020. Well, candidates with commercial awareness are able to demonstrate a general sense of the world’s political and economic landscape and the different factors moving markets and informing business leaders’ decisions. Commercial law is all about providing practical support to companies across the spectrum of contracts they enter into as they go about their day-to-day business. For example, you could specialise in finance law and advise on deals such as mergers and acquisitions (M&A) or initial public offerings (IPOs). As a commercial lawyer you become a specialist in a particular area of law. At its very core, in this sector you'll be focused on people and problem-solving. In terms of LLMs actually valued by commercial law firms, you might want to take a look at courses with an international edge that ground theory in practical applications, like the University in Johannesburg’s LLM in international commercial law. 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. Sponsored by the University of Johannesburg. What do commercial law firms look for? you want to study in by taking our quick survey. >> Introducing a career in commercial law, his views on the skills needed by trainee lawyers. Find out here how to apply and get the chance to be reimbursed in full for all of your tuition fees. 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. Commercial lawyers need to be good at forming business relationships. Depending on the law firm, you might specialize even further in a particular practice area like dispute resolution, capital markets or banking. Administrative Law Judges International Commercial Law is a body of legal rules, conventions, treaties, domestic legislation and commercial customs or usages, that governs international commercial or business transactions. 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 just starting to think about a career at a commercial law firm, this is the perfect place to start. All rights reserved. Train for a thriving career in commercial law, 10 of the Oldest Universities in the World, International Scholarships for Students from Developing Countries, Future Managers: How You Can Prepare For a New Era of Socially Responsible Business, Living in Student Halls During Coronavirus: 5 Things You Need to Know, QS University Rankings: Asia – Methodology, Coming Soon: QS World University Rankings by Region 2021, QS University Rankings: Latin America – Methodology, Top Universities in Latin America in 2021, 5 Reasons Why You’ll Want To Study Business In Guadalajara, 5 Reasons To Choose An International Experience For Your Bachelor’s Degree, QS University Rankings: Arab Region – Methodology, Find your perfect School and Program with our matching tool, Connect with other students on our forums. You’re good with people. If you can stand the long hours, a career in commercial law will see you handsomely rewarded. Please login or register to post comment above our articles. Commercial lawyers are solicitors who advise companies and governments on business-related issues. The University of Johannesburg offers a number of bursaries to students interested in their LLM in commercial law. The most common practice areas, in terms of number of employees, are described in more detail in the next section of the guide, “What do commercial lawyers do?”. 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. 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. Law schools such as Kaplan or the London College of Law provide two courses that are relevant to future commercial lawyers: Regardless of whether you are studying a law undergraduate course or not, you apply to law school in your final year of university. A graduate recruiter would expect you to know the answers to the following questions: who are our clients? 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.
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