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Growing number of lawyers wouldn't recommend their profession

Almost half of lawyers asked would not recommend their profession to friends and family members, according to new research by Wesleyan, the specialist financial services provider for lawyers.

In sharp contrast to findings a year ago, 48% of legal practitioners said they would not recommend the profession, compared with 39% in 2014. The number of those who wouldn't choose the same profession again has also increased, from 40% to 47%.

Nearly three quarters (71%) of lawyers say that the increasing cost of education and training, along with changes to pay and conditions will deter future generations from entering the profession.

When asked what they were most concerned about over the next five years, increasing pressures and workloads emerged as the biggest worry for more than half (53%) of lawyers, followed by reductions in legal aid (38%). Just under a third (30%) say the use of paralegals at the expense of trainee solicitors, is also a major cause for concern.

More than three quarters (77%) feel under increased pressure in their work as a result of recent changes to the profession.

Greg Lowson, a member of Wesleyan's Members Advisory Board and Head of Pinsent Masons' Birmingham office, said: "The legal profession has seen major changes in the past few years, which have clearly hit the morale of those in the industry.

"Cuts in legal aid will impact on their firm's finances, and ultimately their own if they are partners, while the rise in paralegals is leaving many lawyers worrying about standards of work and how people are training to work in what is a highly skilled profession.

"However, while these concerns are resulting in increased pressure on today's lawyers, there are many more reasons why the profession is still attractive, which is why most would still choose the same profession again, even if it's not a sizeable majority."

Alan Whiting, Wesleyan Group Head of Marketing, said: "Our research shows lawyers have some major concerns about changes taking place in the profession that are impacting both their careers and their personal lives.

"As a specialist provider of financial advice for lawyers, Wesleyan understands the wider professional issues that can impact their career path and their future earning income. We can help lawyers plan their finances, and those of their business, helping them make the most of their money both for now and the future."

'WESLEYAN’ is a trading name of the Wesleyan Group of companies.

Wesleyan Assurance Society and Wesleyan Bank Ltd are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Wesleyan Financial Services Ltd, Wesleyan Unit Trust Managers Ltd, Practice Plan Ltd and DPAS Ltd are authorised and regulated by the Financial Conduct Authority.  Advice about investments, insurance and mortgages is provided by Wesleyan Financial Services Ltd.

Click for more information about the Wesleyan group of companies.

© 2018 Wesleyan Assurance Society