The financial services industry is known for its long working hours, and it seems Australian bankers work longer hours than most.
The latest report from AXISS, the financial services division of Invest Australia, suggests Australian bankers may work longer hours than their counterparts in both the UK and the US.
The report notes that the average Australian worker worked 1,826 hours last year, well above the G7 average of 1,696 hours and OECD average of 1,752 hours. Australia ranked as having the OECD’s 8th longest hours, ahead of the US which ranked 12th and UK at 18th.
Rick Jansz, managing consultant at Sydney-based finance recruiter BSI People, has worked in both the Australian and UK markets. He says Aussie bankers have a reputation for hard work: “Australians have a good reputation in the UK and are regarded as hard workers.”
However, Jansz says hours in London tend to be longer by virtue of the nature of the market: “London is a leading financial hub and the sheer size, volume and competition make up for a more pressurized and dynamic workplace than in Australia.”