The best and the worst banks for working hours

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How many hours will you really work in an investment bank now? After all those initiatives to cut working hours, is it true that banking jobs are about as arduous as a long shift at the Big Four?

Not exactly. Forum website Wall Street Oasis has updated its figures for average working hours by bank for 2018. The results reflect submissions from thousands of users.

The chart below reflects the new reality. If you're looking for a nice 9-5 job, banking is still very far from being it. However, WSO's findings imply that you'll work far (far) longer hours at some firms than others.

The worst offenders for working hours are still the corporate finance boutiques.  Moelis & Co. has long had a reputation for brutal working hours and this still seems deserved: the average Moelis employee claimed to work over 83 hours a week. Hours were also comparatively harsh at Evercore, Perella Weinberg, Jefferies, Rothschild and Lazard.

French banks are the most lenient. Average working hours at Credit Agricole, Natixis and SocGen were among the lowest. At British-government owned RBS, the working week is apparently a mere 61 hours.

The biggest surprise comes from the big U.S. investment banks. Based on WSO's data, J.P. Morgan, Goldman Sachs and Bank of America all look like comparatively undemanding places to work, although working hours seem to have crept up in 2018. Credit Suisse, meanwhile, looks comparatively demanding.

WSO's figures haven't been validated by the banks concerned, so we can't guarantee that they're right. Banks typically don't share this kind of working hours data though, so in a murky area WSO provides a shred of light. Yes, you will earn good money working in an investment bank - but you will also put in hours that are well above the norm.

Have a confidential story, tip, or comment you’d like to share? Contact: sbutcher@efinancialcareers.com in the first instance. Whatsapp/Signal/Telegram also available. Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Eventually it will – unless it’s offensive or libelous (in which case it won’t.)

Have a confidential story, tip, or comment you’d like to share? Contact: sbutcher@efinancialcareers.com

Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Eventually it will – unless it’s offensive or libelous (in which case it won’t.)

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