High School

If you’re interested in becoming a private equity attorney, you should take as many business, finance, accounting, economics, and advanced mathematics classes as possible. Since many PE firms conduct business internationally, learning a foreign language will be extremely helpful. Other recommended classes include government, computer science, history, psychology, and social studies. Finally, English and speech courses, as well as participation in your school’s debate club, are especially important because lawyers need strong communication skills.

Postsecondary Education

To prepare for law school, you should earn a bachelor’s degree in prelaw or legal studies. If you plan to specialize in private equity law, it’s a good idea to earn a degree in finance, business, or accounting, or at least minor or double major in one of these areas. Some colleges and universities offer courses in alternative investments.

Most law schools require that applicants take the Law School Admission Test (LSAT). The LSAT tests your critical thinking, writing, and reasoning abilities. The Law School Admission Council offers detailed information about preparing for and taking the LSAT at https://www.lsac.org.

More than 200 law schools in the United States are approved by the American Bar Association. A degree of juris doctor (J.D.) or bachelor of laws (LL.B.) is usually granted upon graduation. Some law schools offer coursework in private equity. For example, Stanford University’s School of Law offers a class in private equity investing.

If you want to work in the private equity industry, it’s important to attend a top-tier law school and earn stellar grades throughout your education.

Other Education or Training

The private equity industry is in a constant state of flux due to new government regulation, judicial rulings, and other factors, so it’s important that PE lawyers keep their skills up to date. Several professional associations provide continuing education opportunities. For example, the American Bar Association’s Business Law Section offers webinars on private equity and venture capital issues. One recent webinar provided an introduction to private equity law for lawyers and law students who were considering the specialty. The Association of Corporate Counsel provides in-person and online continuing education. Topics include compliance, technology, contract negotiation, ethics, litigation, project management, and basic practice skills. Contact these organizations for more information.

Certification

Some attorneys 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, and regulatory compliance. 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. Additionally, you can see a list of LL.M specialties and the law schools that offer them at https://www.americanbar.org/groups/legal_education/accreditation/.

Certification or Licensing

Every state requires that lawyers be admitted to the bar of that state before they can practice. Applicants must graduate from an approved law school and pass a written examination in the state in which they intend to practice. 

Experience as a law intern in the alternative investment industry is highly recommended for entry-level positions. You’ll need five to ten years of mergers and acquisitions experience to work as a chief legal officer in the PE industry. 

Successful PE attorneys have strong business and financial acumen (especially pertaining to the field of private equity), excellent oral and written communication skills, and the ability to work well as a member of a team. They should be calm under pressure and have excellent negotiation skills, organizational and problem-solving ability, integrity, and research and information management skills.