Hedge Fund Lawyers

High School

To prepare for a career in hedge fund law, take classes in business, finance, economics, accounting, psychology, and mathematics. Since many hedge funds do business internationally, it’s a good idea to take a foreign language to increase your attractiveness to potential employers. Finally, lawyers must be excellent communicators and debaters, so English and speech classes, as well as participation in the debate club, will be useful.  

Postsecondary Education

Many aspiring lawyers first earn a bachelor’s degree in prelaw or legal studies before heading to law school. Since hedge fund law is especially complex, many undergraduates earn degrees (or pursue minors) in finance, business, or accounting in order to round out their experience. Be sure to take advantage of any alternative investment courses that are offered by your college.

Most law schools require that applicants take the Law School Admission Test (LSAT). The Law School Admission Council offers detailed information about preparing for and taking the LSAT at http://www.lsac.org.

The American Bar Association has approved nearly 200 law schools in the United States. A degree of juris doctor (J.D.) or bachelor of laws (LL.B.) is usually granted upon graduation. Some law schools offer course work in alternative investing. Attendance at an elite law school and top grades are prerequisites for employment in the hedge fund industry.

Certification

Some lawyers choose to earn a master of laws (LL.M) degree, an advanced law certification that helps them advance professionally. LL.M programs, which typically last one year, are offered in many areas—such as banking and finance law, business law, corporate law/corporate governance/corporate compliance, intellectual property, litigation/trial advocacy, and securities and financial regulation. A first law degree is required for admission to LL.M programs. Visit https://www.lsac.org/llm-other-law-program-applicants for more information. Visit https://www.americanbar.org/groups/legal_education/resources/llm-degrees_post_j_d_non_j_d/programs_by_school for a list of LL.M. specialties and the law schools that offer them.

Other Education or Training

Many lawyers stay up to date on developments in the hedge fund industry and practice issues by taking continuing education classes, which are offered by professional associations. For example, the American Bar Association’s Young Lawyers Division periodically offers alternative investment–related webinars. It also provides career development videos and webinars such as Volunteering to Enhance Your Career, Keeping Pace with Technology: Technology Tips and Practice Advice, and Millennial Lawyers: Improve Your Professionalism and Jumpstart Your Career. The Association of Corporate Counsel provides in-person and online continuing education. Topics include compliance, contract negotiation, ethics, litigation, and basic practice skills. Contact these organizations for more information.