Top Law Firm Teaches Lawyers to Be Like MBAs

Turning law students into lawyers has traditionally been the job of law schools. One major New York firm has decided four years of traditional legal training is not enough to make its rookies practice-ready.

At Skadden Arps Slate Meagher & Flom LLP, new hires must undergo five weeks of intensive business training, which they refer to as a “virtual MBA.” The approach is part of a growing push within the legal industry to equip lawyers with a deep understanding of finance and accounting at the start of their careers.

“We were looking for a way to prepare people to hit ...