Yes, it can take many years before barristers start to earn much money and mostly the high earners are doing corporate or commercial work, rather than criminal cases. I found these figures:
Typical earnings/receipts for self-employed barristers vary considerably and depend on many factors, particularly their field of work. Before deduction of tax and chambers' charges, earnings range from £10,000 to £90,000 in the first year and £40,000 - £200,000 after five years (salary data collected June 2008, The Bar Council ).
Typical earnings/receipts at senior levels and before deduction of tax and chambers' charges, range from £65,000 to £1,000,000 after ten or more years of call (salary data collected Jan 09).
A top Queen's Counsel (QC) can earn £1,000,000+ per year (salary data collected Jan 09).
There are huge disparities in annual earnings at the Bar with some criminal law junior barristers earning under £50 per day whilst some top commercial sets offer their pupils over £40,000 a year. All pupillages are funded unless, in exceptional circumstances, a waiver is granted. Earnings for barristers starting out are sometimes extremely low and there may be a considerable delay between doing the work and receiving remuneration.
Salaries for employed barristers again vary widely, ranging from £25,000 to £130,000.
Most barristers are self-employed and have to contribute towards the running/overheads of chambers from their income, as well as covering their own tax and pension arrangements. They do not receive holiday pay