The Criminal Bar Association’s (CBA) recent survey laid bare the financial pressures, career uncertainty, and systemic challenges facing barristers in England and Wales. With over 1,700 responses, the survey paints a stark picture of a profession where, despite immense dedication and a deep sense of purpose, financial instability is pushing many towards the brink.
The findings highlight an urgent need for structured financial support to help barristers build resilience, security, and long-term sustainability in their careers. In this article, we explore the key insights from the survey and how tailored financial education and wellbeing services can offer practical solutions to these growing concerns.
The survey revealed that one in three criminal barristers is actively considering leaving the profession. This is a sobering statistic, reflecting widespread dissatisfaction with pay structures, unpredictable income, and the long hours required to maintain a career at the Bar.
Many barristers struggle with irregular cash flow, delayed payments, and financial insecurity due to the structure of legal aid fees and court backlogs. Unlike salaried employees, barristers must navigate a self-employed model where income can fluctuate dramatically from month to month.
The survey also highlighted the strain placed on personal wellbeing. Long hours, financial stress, and the pressures of an overloaded criminal justice system contribute to mental health challenges and professional burnout.
Despite these challenges, 80% of barristers reported that they take pride in their work, demonstrating their commitment to justice and public service. However, dedication alone is not enough to sustain a long and fulfilling career without financial stability.
Barristers often experience significant variations in their monthly earnings, making it difficult to budget and plan long-term. Late payments from legal aid cases exacerbate these issues, leaving many barristers in financially precarious situations.
As self-employed professionals, barristers do not have access to the safety nets enjoyed by salaried employees, such as:
This makes it even more critical for barristers to proactively manage their finances and build their own long-term financial security.
Becoming and remaining a barrister involves substantial financial commitments, including:
For many young barristers, these costs can be overwhelming, especially at the beginning of their careers when earnings are low.
Unlike salaried employees who have tax deducted automatically, barristers must set aside their own taxes and handle lump-sum tax payments, which can be a financial strain if not managed properly. A lack of financial planning can lead to tax arrears, penalties, and additional stress.
At Halesworth & Hurlston, we understand the unique financial challenges that barristers face. Our tailored financial education and wellbeing support services are designed to help barristers gain control over their finances, build long-term security, and reduce financial stress.
One-to-one financial coaching sessions offer barristers:
✔ Bespoke budgeting and cash flow planning to manage irregular income
✔ Guidance on tax efficiency and setting aside funds for HMRC payments
✔ Debt management strategies for dealing with student loans, overdrafts, or legal education debts
We provide barristers with:
✔ Investment education to grow savings effectively
✔ Tailored pension planning to create long-term financial security
✔ Income protection insurance options to safeguard earnings in case of illness or inability to work
Our regular webinars cover practical financial strategies, including:
✔ How to budget effectively on an irregular income
✔ Planning for retirement as a self-employed professional
✔ Smart tax planning for barristers
✔ Creating financial resilience in uncertain times
Many barristers delay saving for retirement due to the immediate financial pressures of their careers. We provide:
✔ Guidance on the best pension schemes for self-employed professionals
✔ Strategies for building long-term financial independence
✔ Insights into tax relief on pension contributions
Given the unpredictable nature of legal work, barristers must take proactive steps to safeguard their income. We assist in:
✔ Choosing the right income protection policies
✔ Building emergency savings funds
✔ Ensuring continuity of income during periods of illness or reduced workload
By addressing financial stress, barristers can focus on their careers with confidence, knowing they have a strong financial foundation. The benefits of financial wellbeing include:
✔ Reduced stress and mental fatigue
✔ More career flexibility and job satisfaction
✔ Better long-term career sustainability
✔ Increased ability to invest in career progression
Financial security is not just about numbers—it directly impacts professional performance, wellbeing, and long-term career success.
The CBA’s survey findings highlight the urgent need for financial resilience and security within the criminal Bar. The pressures of fluctuating income, high costs, and professional uncertainty are driving many barristers to consider leaving the profession.
At Halesworth & Hurlston, we are committed to supporting barristers in overcoming these challenges. Through education, coaching, and tailored financial strategies, we help legal professionals build long-term financial security and feel more confident about their futures.
If you’re a barrister looking to take control of your financial wellbeing, we invite you to explore our financial coaching, webinars, and bespoke planning services. Let’s build a stronger, more financially resilient Bar together.
If you are ready to work with a financial planner who understands the finer details of life at the Bar
If you would prefer to see how we have supported barristers in similiar situations to you
Schedule an introductionLearn moreIf you are ready to work with a financial planner who understands the finer details of life at the Bar
Schedule an introductionIf you would prefer to see how we have supported barristers in similiar situations to you
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