How an MLS in Compliance Prepares You for Legal Corporate Careers

There are a considerable number of legal corporate careers that you can pursue without attending a J.D. program. These jobs, which are often interesting and well-compensated, require an intimate understanding of the way federal and local regulations interact with a range of business practices. Keep in mind that although some industries have more stringent compliance standards than others, these roles are, in a broad sense, industry agnostic.

A master of legal studies (MLS) degree will give you the background and mental framework needed to excel across a broad range of in-house legal careers. During your studies, you’ll gain a comprehensive understanding of how the law intersects with business practices. Read on to learn how an MLS can prepare you for a rewarding career in corporate compliance.

Legal Roles Beyond the J.D.

Lawyers only comprise a portion of any company’s legal department because many companies recognize that comprehensive legal training and licensure are unnecessary for many routine business activities.

This change has been tied to the growth of opportunities for corporate compliance officers and risk analysts.¹ Openings for these roles have skyrocketed in recent years due to the growing challenges of a more complex regulatory environment.¹ Businesses are increasingly recognizing the importance of having skilled workers who can effectively navigate regulatory challenges while advancing the company’s best interests.

Businesses and other organizations have increasingly turned to non-lawyers for in-house legal careers. Companies recognize that in-house compliance officers can often perform tasks better than traditional, external law firms since in-house employees tend to have a deeper familiarity with a company’s internal workings. These employees can perform a range of diverse activities as well as lawyers, often for a lower cost.

What the MLS in Compliance Teaches

An MLS with a Compliance and Risk Management concentration teaches you how to interact with the comprehensive regulatory frameworks that govern modern businesses. You’ll dig deep into federal, state and local compliance requirements across a range of industries, such as financial services, healthcare, software, manufacturing and food services. By building a strong foundation, you’ll have the skills needed to navigate the complex regulatory landscapes you’ll encounter as a working professional.

An MLS in Compliance is fundamentally a hands-on degree. As a student, you’ll have the opportunity to bridge the gap between theory and reality by studying case studies of how companies have successfully navigated compliance issues in the past. You’ll also engage in deep critical thought processes by creating risk assessment frameworks. These tools work as a prism through which you can translate legal requirements into actionable processes.

Other impactful skills you’ll develop include legal writing, interpretation of the law and policy analysis, all of which are crucial when it comes to communicating sophisticated legal concepts to outside stakeholders. You’ll also learn how to draft compliance manuals, understand complex regulatory guidance and create training materials for staff members outside of your department.

Career Paths You Can Pursue

An MLS in Compliance degree gives you entry to a variety of exciting and in-demand roles. You can find opportunities in these career fields across a range of industries and geographic locations.

Corporate compliance officers have a deep impact on business success by ensuring businesses stay within the bounds of the law. They help develop policy, lead trainings and conduct audits. Additionally, corporate compliance officers make a median salary of $148,000 per year.²

Becoming a risk analyst is another exciting career option. In this role, you’ll have the opportunity to scour your company’s existing operations and finances to find potential regulatory issues. This role has a median salary of $99,000 per year.³

An in-house legal operations specialist bridges the gap between a company’s legal and business operations departments. You’ll have the opportunity to communicate across departments, manage internal processes, analyze data and prepare reports. The median salary for this role is $71,000 per year.⁴

Finally, an MLS in Compliance degree will also prepare you for a career as an ethics and regulatory affairs coordinator. In this role, you’ll support multiple company functions, including regulatory monitoring and compliance. You’ll stay abreast of policy changes and assist with documentation and reports for key stakeholders. Ethics and regulatory affairs coordinators also have the opportunity to share what they know with other staff members through outreach programs. People in this role have a median income of $98,000 per year.⁵

Regardless of the compliance degree job you choose, you can rest assured that an MLS degree will prepare you for a rewarding and in-demand career.

Launch Your Legal Career Without a J.D.

You don’t have to earn a J.D. to have a legal corporate career. In fact, given the high cost of a J.D. in terms of time and money, it’s no small wonder that working professionals are increasingly turning to faster and more affordable options like William & Mary’s online MLS program. You’ll graduate from this program with a skillset that will help you stand out from graduates with a more generalist background.

The convenience of earning your degree online means you don’t need to relocate or leave your current job to make a major life change. You’ll receive all of the benefits of an on-campus experience, such as live discussions, collaborative projects and personalized feedback from experts in their fields, while maintaining your current lifestyle.

Get in touch with an admissions outreach advisor today to find out how William & Mary’s online MLS program can help you transition into the exciting world of corporate compliance.