The thought of returning to law school just a few years after graduation would fill many young lawyers with dread. But for midlevel associates Milbank, Tweed, Hadley & McCloy, a unique training program at Harvard Law School has become a prized rite of passage.

“Law school doesn’t give you what you really need to know as a transactional lawyer,” said David Wolfson, a corporate M&A partner at the firm who chairs its professional development committee. The Milbank@Harvard program, Wolfson said, fills in the gaps for young corporate lawyers and litigators alike, teaching practical business of law lessons beyond theory and practice.