The age profile of the practising bar is becoming increasingly youthful, according to new figures from the Bar Standards Board (BSB).
The BSB issued new demographic statistics on 27 April, revealing that in 2010, only 2,502 members of the practising bar (21 per cent) were aged 34 or younger, with none aged under 25.
But in 2014, the total had shot up to 3,623 – including 110 aged under 25 – and the age group now makes up 33 per cent of the practising bar.
In contrast, the number in older age groups – from 45 to 65+ – remained almost unchanged between 2010, when the total stood at 4,606, and 2014, when it fell slightly to 4,341. In both years, the over-45s made up 39 per cent of the practising bar.
The statistics also revealed little change in the number of self-employed barristers, which increased slightly from 12,133 in 2010 to 12,709 last year, or the employed bar, where the number stood at 2,755 in 2010 and 2,794 in 2014.
But those taking on both self-employed and employed work increased more than tenfold, soaring from 19 in 2010 to 211 in 2014.
Whatever stage you may be in your career – just starting out or already well-established – bespoke financial planning advice can make a real difference to achieving your goals now and in the future.
The team at Milsted Langdon Financial Services can advise on a wide range of personal financial planning issues, including investment planning options, tailored to your goals, circumstances and attitude to risk, insurance – including income protection solutions – planning for retirement and all aspects of pensions and inheritance tax planning. For more information, please contact us.