Lawyers would not recommend their profession to others and would choose a different career if they could start again, according to a study published today.
The survey shows that 39% would not recommend the profession to someone at the start of their career, while 40% would not choose the same career again if they had the chance.
Of the 103 lawyers questioned by Censuswide on behalf of financial services provider Wesleyan, re-branded Wesleyan for Lawyers, 77% said the increasing cost of legal training and education, combined with falling financial incentives, will deter future generations from entering the profession.
While the lawyers questioned were concerned about the future of the profession, 52% said their main concern over the next five years is how to fund their retirement. More than two-thirds (67%) expect their financial situation to get worse.
Other concerns were the impact of the Legal Services Act and alternative business structures, mentioned by 45% and reductions in legal aid, raised by 40% of respondents.