LLM vs JD: is an LLM really worth it?
The main difference between JD and LLM is the level of specialization; LLMs allow people who already have a JD to specialize in some aspect of law.
The LL.M. is thus the “higher-level” degree.
LLMs can also be used by foreign-trained attorneys to qualify for the bar exam and practice law in the U.S.
The best LL.M. programs, by value for money, are offered by the University of Florida, Seton Hall University, and the University of Alabama.
If you want to be a lawyer, you almost certainly need a JD. But should you get an LL.M as well? Will this post-law-school specialist degree give you a real advantage on the legal labor market? Are they worth the cost?
Spoiler: in most cases, no, unless you’re from outside the U.S.
While LL.Ms are perfect for people who love the expense and stress of law school, many programs are not a particularly wise investment, economically speaking.
After a brief overview of the main differences between a JD and LLM, we reveal the best-performing LL.M. programs in terms of value for money and divulge some hints on making the Master of Laws worth your while.
What is a JD?
A JD, or Juris Doctor, is the degree you get once you finish law school. In almost all states, you need a JD to take the bar exam and practice law.
Although a JD is a doctorate-level degree, most people go to law school after completing their undergrad. You don’t need a master’s degree to enter law school.
What is an LLM?
An LL.M. (Legum Magister) is a Master of Laws degree.
Prospective lawyers enroll in LL.M. programs to specialize in one area of law, like taxation, intellectual property, compliance, etc.
Although an LL.M. is technically a master’s degree, you only get it after you’ve completed your JD. You do not need an LL.M. to practice law, and most lawyers don’t have one.
That said, you will need an LL.M. in one case: you studied law in a different country, and you want to practice in the U.S. Colleges offer “American Law” LL.Ms for this precise demographic.
KEY TAKEAWAY
The main difference between LLM and JD is the level of specialization: JDs are general law degrees, while LL.Ms are an optional add-on for people who couldn’t get enough of law school and want to specialize (unless you’re a foreign-trained lawyer – then an LLM is a must).
| JD | LLM | |
| Length | 3 years | 1 year |
| Focus | General law degree | Specific aspect of law, or general law for non-American lawyers |
| LSAT | Usually yes | Usually no (you probably already took it) |
| Educational pre-requisites | Requires a bachelor’s degree | Requires a JD or a foreign law degree |
| Do you need one to become a lawyer? | Almost always | Only if you studied law outside the U.S. |
Is an LLM worth it?
If you’re a lawyer from a different county who wants to practice in the U.S., then yes, an LL.M. is worth it. In fact, it’s a must (unless you just start from scratch and get a JD, which would be more expensive and time-consuming).
On the other hand, if you’re an American who already has a JD, the economic value of getting an LL.M. is dubious.
Law school is expensive, and LL.M. programs are no exception (although some law schools are much cheaper than others). The weighted average debt at graduation for LL.M. programs is $57,103. That’s on top of the debt you took out for your J.D and whatever students loans you have from your bachelor’s.
Because of this added expense, law students often joke that LL.M. stands for “lawyers losing money,” as illustrated by the Reddit conversation below.
For an investment in an LL.M. to be worthwhile, the degree would need to unlock significantly higher earnings than a standard-issue JD.
However, only a select few LL.M. programs achieve this..
JD vs LLM salary
According to IPEDS data, 4 years after graduating, LL.M. holders earn $96, 362 per year (this is the weighted average for the programs that have disclosed earnings data to the government).
Earnings outcomes for LL.M. programs range from $190,118 per year for Duke University to just $39,138 at Florida International University.
Meanwhile, according to the Bureau of Labor Statistics (BLS), the average salary for all lawyers (the vast majority of whom only have a JD) is $145,760.
This comparison isn’t entirely fair, since BLS data reflects salaries throughout the careers of all lawyers, whereas educational outcome data from IPEDS on LL.Ms is for a single point 4 years after graduation.
We are unable to calculate the weighted average earnings of all J.D. programs 4 years after completion, because law schools have not reported the number of students in their cohorts to IPEDS. This means we only know the mean earnings of J.D. program graduates: $94,028.
Looking at IPEDS earnings data for J.D. programs, 4 years on, shows that the average salary range for the top 50 percentile highest-earning law schools runs from $280,926 at Columbia to $83,812 at Howard University.
This indicates that in most cases, an LL.M. degree does not give you a significant early-career salary boost, despite the added expense.
KEY TAKEAWAY
Most LL.M. programs do not provide a significant early-career earnings boost compared to just getting a JD.
Given their significant cost, they may not be worth it for most lawyers.
The best JD programs in the U.S.
Because law school is such an expensive undertaking, it’s important to invest your money wisely by choosing a good JD program.
Cheap or unselective law schools may be tempting, but not all lead to good economic outcomes after graduation.
To calculate the best JD programs in the country by value for money, our methodology uses debt and earnings data reported to the government to rank colleges by return on investment (ROI).
According to our metrics, the best law schools in the U.S. for a JD are:
- Harvard University
- University of Pennsylvania
- Stanford University
Best LLM programs in the U.S.
In the list below, we present the best LL.M. programs in the U.S. by value for money. These offer the optimal combination of high earnings and manageable levels of student debt. Data comes from IPEDS and College Scorecard.
You can read more about our methodology below this list, or on our dedicated methodology page.
University of Florida
Gainesville, Florida
The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.
Median earnings of all students 4 years after graduating.
The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.
The total debt accrued by the median student at the time of graduation.
The University of Florida is a large public research university in Gainesville.
UF Law offers multiple LL.M. options, including an LL.M. in Taxation, an LL.M. in International Taxation, and an LL.M. in U.S. Law (the last is for non-American-trained lawyers).
LL.Ms at UF generally take 2 semesters, but part-time options are available also. Some programs are available online; these are taught synchronously.
University of Florida also offers a dual J.D./LL.M. that takes 7 semesters (3.5 years) to complete.
UF Law is a very affordable program, even for out-of-state students. This, along with its impressive economic outcomes post-graduation, makes it the best LL.M. program in the country by value for money.
Seton Hall University
South Orange, New Jersey
The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.
Median earnings of all students 4 years after graduating.
The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.
The total debt accrued by the median student at the time of graduation.
Seton Hall University, or SHU, is a private university affiliated with the Roman Catholic Church. It is located in South Orange, New Jersey, which is just outside of Newark. Its LL.M. programs are the second best in the country by value for money.
Seton Hall Law offers 4 LL.M. programs. These include the LL.M. in Financial Services Compliance and the LL.M. in Health Law, both of which can be taken online, in-person, or as hybrid programs, and the LL.M. in International Property, which is offered in-person only. For the LL.M. in International Property, students also choose a track: patent law & policy, trademark law & policy, copyright law & policy, IP and the life science industry, and IP & the telecommunications industry.
There is also an LL.M. in American Law for foreign-educated lawyers, which is offered in-person only.
The University of Alabama
Tuscaloosa, Alabama
The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.
Median earnings of all students 4 years after graduating.
The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.
The total debt accrued by the median student at the time of graduation.
The University of Alabama, also known as UA, Bama, or simply Alabama, is a large public research university in Tuscaloosa. It is the oldest and largest public university in the state.
Alabama Law offers several high-value LL.Ms for lawyers who want to specialize, including the online LL.M. in Taxation, the online LL.M. Concentration in Business Transactions, and the International LL.M. for foreign-educated lawyers.
It also offers an online Juris Masters in Taxation, which is suitable for accountants, business students, and certified public accountants. This last program is not for lawyers and won’t qualify you to practice law.
Boston University
Boston, Massachusetts
The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.
Median earnings of all students 4 years after graduating.
The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.
The total debt accrued by the median student at the time of graduation.
Boston University, or BU, is a private research university in Massachusetts. It was founded in 1839.
The Boston University School of Law offers several highly respected LLM programs. Several of these (taxation and banking & financial law) have online, part-time options. The full list of LL.Ms offered at BU is below:
- American Law (for foreign lawyers)
- Two-year LLM program (also for foreign lawyers)
- Banking & Financial Law
- Taxation
- Intellectual Property & Information Law
University of Washington
Seattle, Washington
The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.
Median earnings of all students 4 years after graduating.
The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.
The total debt accrued by the median student at the time of graduation.
The University of Washington is a large public university in Seattle. UW’s School of Law is perhaps the most respected in the Pacific Northwest.
UW offers 7 LL.M.s, which are designed for both foreign-trained lawyers and domestic students with a J.D. Students can also enroll in a concurrent J.D. and LL.M. to save time and money.
LL.M. programs include:
- Asian and Comparative Law
- Global Business
- Health Law
- Intellectual Property
- Sustainable International Development
- Tax
- General Law
Georgetown University
Washington, District of Columbia
The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.
Median earnings of all students 4 years after graduating.
The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.
The total debt accrued by the median student at the time of graduation.
Georgetown University is a private Jesuit university in Washington D.C. Graduates of its LL.M. programs earn more on average than any other schools on this list, although its expensive tuition somewhat lessens its ROI value.
Georgetown Law’s LL.M. degrees cover a wide range of specializations. Many are offered online. In addition to traditional LL.Ms, Georgetown offers joint and dual degrees, as well as the popular LL.M. Summer Experience.
LL.M. programs on offer are as follows:
- General/International Studies
- 2-year LL.M. with Certificate in Legal English
- Taxation
- National Security Law
- National and Global Health Law
- Technology
- International Business & Economic Law
- Environmental & Energy Law
- Global Health Law & Governance
Loyola University Chicago
Chicago, Illinois
The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.
Median earnings of all students 4 years after graduating.
The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.
The total debt accrued by the median student at the time of graduation.
Loyola University Chicago, or LUC, is a private Jesuit research university in Chicago. It is affiliated with the Roman-Catholic Church.
Loyola’s School of Law offers a wide range of LL.M. programs, each of which offers multiple tracks, allowing you to specialize even further.
LL.M. programs include:
- LLM for International Lawyers
- LLM in Compliance & Enterprise Risk Management
- LLM in Business Law
- LLM in Child and Family Law
- LLM in Health Law
- LLM in Rule of Law for Development (PROLAW)
Temple University
Philadelphia, Pennsylvania
The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.
Median earnings of all students 4 years after graduating.
The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.
The total debt accrued by the median student at the time of graduation.
Temple University, or TU, is a public, state-related research university in Philadelphia, Pennsylvania. Its LL.M. programs are among the best in the country by value for money.
Temple’s Beasley School of Law offers multiple LL.M. programs.
These include:
- LL.M. for Foreign-Trained Lawyers
- LL.M. in Taxation
- LL.M. in Trial Advocacy
- LL.M. in Transnational Law
- LL.M. in Beijing, China
- LL.M. in Asian Law.
University of San Francisco
San Francisco, California
The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.
Median earnings of all students 4 years after graduating.
The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.
The total debt accrued by the median student at the time of graduation.
The University of San Francisco is a private Jesuit university in California. Its campus is located in a scenic area between the Golden Gate Bridge and Golden Gate Park.
USF offers 3 LLM programs:
- LLM in Intellectual Property & Technology Law
- LLM in International Transactions & Comparative Law
- LLM in Taxation
It also offers a Master of Legal Studies in Taxation for accountants.
University of Denver
Denver, Colorado
The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.
Median earnings of all students 4 years after graduating.
The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.
The total debt accrued by the median student at the time of graduation.
The University of Denver is a private research university in Colorado. It is one of the oldest private institutions of higher learning in the Rocky Mountains.
Its Sturm College of Law offers several LLMs degrees for JD students, American lawyers, and lawyers trained outside the U.S.
These include:
- American Law Practice
- Global Natural Resources, Energy, and Environmental Law
- Riche International Business Transactions
- Tax
Southern Methodist University
Dallas, Texas
The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.
Median earnings of all students 4 years after graduating.
The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.
The total debt accrued by the median student at the time of graduation.
Southern Methodist University, or SMU, is a large private university based in Dallas, Texas. While it is officially affiliated with the Methodist Church, its curriculum is secular.
SMU’s Dedman School of Law offers an LL.M. in Tax, an Accelerated Tax LL.M. (students receive an LL.M. and a JD simultaneously), and an LL.M. for Foreign Law School Graduates.
In addition, it offers an LL.M. General, for which students pick a specific law track, such as:
- corporate and commercial law
- international law
- legal practice and procedure
- natural resources law
- property law
Widener University
Chester, Pennsylvania
The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.
Median earnings of all students 4 years after graduating.
The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.
The total debt accrued by the median student at the time of graduation.
Widener University is a private university with several campuses in Delaware and Pennsylvania. It offers seated LLM programs, which are offered on-campus in Delaware, and online LLMs , which you can take from home.
Seated LLMs include:
- Corporate Law & Finance
- Human Rights & Dignity Law
- American Legal Studies
- General LLM (customizable to fit your professional interests)
Online LLMs include:
- Corporate Law Regulatory Analysis & Compliance
- General LLM (customizable to fit your professional interests)
University of Houston
Houston, Texas
The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.
Median earnings of all students 4 years after graduating.
The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.
The total debt accrued by the median student at the time of graduation.
The University of Houston, or UH, is a public research university in Houston, Texas. It is home to the University of Houston Law Center.
The LL.M.s on offer at UH include:
- Health Law
- Environmental Law
- Intellectual Property
- Energy Law
- Tax Law
- Global Law
It also offers a U.S. Law LL.M. for foreign lawyers and a joint JD/LL.M. program for prospective law students who are already sure they want to specialize.
George Washington University
Washington, District of Columbia
The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.
Median earnings of all students 4 years after graduating.
The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.
The total debt accrued by the median student at the time of graduation.
George Washington University, or GWU, is a private, federally chartered research university in Washington D.C.
LL.M. students at GWU can follow a program of general study, which can be individually adapted, or pick a concentration, as listed below:
- Business & Finance Law
- Environmental Law
- Energy & Environmental Law
- Government Procurement Law
- Government Procurement & Environmental Law
- International & Comparative Law
- International Environmental Law
University of the Pacific
Stockton, California
The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.
Median earnings of all students 4 years after graduating.
The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.
The total debt accrued by the median student at the time of graduation.
The University of the Pacific, or UOP, is a private university in Stockton California. It also has graduate campuses in San Francisco and Sacramento. It was the first university in California.
UOP’s McGeorge School of Law offers LLMs to both U.S. students and attorneys trained abroad. These include:
- Transnational Business Practice
- U.S. Law & Policy
- Water & Environmental Law
- The Water & Environmental Law Program is also available online.
University of Oklahoma
Norman, Oklahoma
The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.
Median earnings of all students 4 years after graduating.
The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.
The total debt accrued by the median student at the time of graduation.
University of Oklahoma, or OU, is a public research university in the town of Norman, a suburb of Oklahoma City.
Through the John B. Turner LL.M. program UO offers multiple exciting online opportunities to specialize in a branch of law, including:
- Energy and Natural Resources Law
- Indigenous Peoples Law
- International Business Law
- Healthcare Law
- U.S. Legal Studies
The U.S. Legal Studies, which is intended for lawyers trained abroad, is also available on-campus.
Emory University
Atlanta, Georgia
The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.
Median earnings of all students 4 years after graduating.
The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.
The total debt accrued by the median student at the time of graduation.
Emory is a private research university in Atlanta, Georgia. Although it is technically affiliated with the Methodist Church, its curriculum is secular. Emory Law’s LLM can be completed in 9 months of full-time study or in up to 4 years part time.
Emory’s LL.M. program is suitable for students who want to specialize in:
- Business Law
- Health Law
- International Law
- Civil and Human Rights Law
- Law and Religion
- Practice of Law in the US (which prepares non-US lawyers to take the bar).
Arizona State University
Tempe, Arizona
The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.
Median earnings of all students 4 years after graduating.
The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.
The total debt accrued by the median student at the time of graduation.
Arizona State University, or ASU, is a public institution in the Phoenix area. ASU’s Sandra Day O’Connor College of Law offers an LLM with a wide array of potential concentrations, as listed below:
- Biotechnology and Genomics
- Business Law
- Criminal Law
- Entrepreneurship Law and Strategy
- Health Law
- Indian Gaming
- Intellectual Property Law
- International Law
- International Rue of Law and Security
- Law and Sustainability
- Science and Technology Law
- Tribal Policy, Law, and Government
Nova Southeastern University
Fort Lauderdale, Florida
The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.
Median earnings of all students 4 years after graduating.
The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.
The total debt accrued by the median student at the time of graduation.
Nova Southeastern University is a private research university in Florida’s Miami area. NSU’s Shepard Broad College of Law offers an LL.M. that can be completed in 1 or 2 years. It is delivered in a hybrid format, mixing online and on-campus programs.
Focus areas include:
- Business and Entrepreneurial Counseling
- Health Law
- Intellectual Property, Cybersecurity, and Technology Law
- International Law
- Litigation and Dispute Resolution
American University
Washington, District of Columbia
The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.
Median earnings of all students 4 years after graduating.
The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.
The total debt accrued by the median student at the time of graduation.
American University (AU) is a private university in the nation’s capital. The LL.M. programs at American University Washington College of Law are delivered online, hybrid, or in person.
Available specializations include:
- Advocacy
- Gender, International and Comparative Law
- Intellectual Property and Technology
- International Arbitration and Business Law
- International Business and Trade Law
- International Human Rights and Humanitarian Law
- Derechos Humanos y Derecho Humanitario (Spanish Language LL.M.)
- International Legal Studies
- Law and Government
Economic outcomes for other LL.M. programs
The economic outcomes for the remaining 10 LL.M. programs that disclose data to the government are shown below. Many other LL.M. programs exist, but they do not provide enough data to IPEDS for us to rank them.
| College | Average earnings | Average debt |
|---|---|---|
| University of Illinois Chicago | $110,636 | $113,247 |
| University of Tulsa | $64,900 | $50,960 |
| Jeshiva University | $74,576 | $61,960 |
| Liberty University | $48,048 | $29,384 |
| University of San Diego | $101,593 | $135,168 |
| University of Miami | $85,960 | $99,144 |
| Washington University in St. Louis | $58,018 | $57,235 |
| St. John’s University | $49,693 | $60,379 |
| Drexel University | $47,609 | $51,250 |
| University of Southern California | $54,448 | $66,790 |
Our ranking methodology
To rank graduate programs by value for money, our methodology uses 2 main variables:
Debt – The total average debt at graduation of program completers, not including any student loans accrued to pay for undergraduate or other degrees.
Earnings – The average earnings of program graduates who receive at least $1 in federal financial aid, 4 years after earning their degree.
Data on LL.Ms’ economic outcomes are aggregated for all the LL.Ms offered at that particular university. More granular data is not available.
Our data comes from primary sources, namely IPEDS, a tool created by the National Center for Education Statistics (NCES), and College Scorecard, an initiative of the U.S. Department of Education to make education data more accessible to the public.
A total of 30 LLM programs and 151 JD programs disclosed complete educational outcome data to these organizations for the 2021-2022 academic year.
Types of LLM degrees
Degree programs are categorized by the NCES according to the CIP-code classification system.
The CIP system includes the following main types of LL.M. specializations:
- Programs for Foreign Lawyers
- Banking, Corporate, Finance, and Securities Law
- Energy, Environment, and Natural Resources Law
- Health Law
- International Law and Legal Studies
- International Business, Trade, and Tax Law
- Tax Law/Taxation
- Intellectual Property Law
- Patent Law
- Agriculture Law
- Arts and Entertainment Law
- Compliance Law
- Criminal Law and Procedure
- Entrepreneurship Law
- Family/Child/Elder Law
- Human Resources Law
- Insurance Law
- Real Estate and Land Development Law
- Transportation Law
- Tribal/Indigenous Law
Final thoughts: making an LL.M. degree worth it
If you have a specific career goal in mind that requires you to get an LL.M, there are several ways to make it worth your while.
First – pick a program with high ROI value, as reflected in our list of best colleges for an LL.M. above. Several of these top programs are a sound investment.
Second – choose a concentration with high demand, like taxation, corporate law, or intellectual property law.
Third – save time and money by looking for a joint LL.M. JD. Program participants can earn both degrees simultaneously, often in just 3 or 3.5 years. This way, you get the specialist’s expertise without the added expense of more law school (similarly to joint JD/MBA programs).
Well-known LLM JD joint degrees are offered by Duke and Northwestern, among others.
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