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.
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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