Although London and New York are already seriously competing for the title of the leading global financial center, the financial experts of tiny Luxembourg are undeniably the first in the world in terms of hours worked per week.
The latest research by the financial sector recruitment company Robert Half found that financial experts in Luxembourg work an average of 47 hours and 36 minutes per week, which is 5.5 hours more than their British counterparts, who in turn work over an hour longer than those in the U.S.
However, when viewed by regions, the leading financial experts in the Asia-Pacific region work the most. In that region, a significantly larger number of employees in the financial sector than in Europe and North America work at least 46 hours a week and on weekends. In second place are traders in financial markets in Japan, who work on average just half an hour less per week than those in Luxembourg. The United States ranks 15th, with 40.9 hours per week. Globally, more than half of financial experts say that their time spent at work has increased over the past two years, especially those in Hong Kong.
“The development of globalization and increasingly better connectivity means that the traditional ‘nine to five’ workday is rapidly becoming a thing of the past,” conclude the researchers at Robert Half. The survey involved 2,283 financial experts in 17 countries in March and April of this year – before the U.S. subprime mortgage crisis shook the markets and increased workloads and stress levels. (Hina)
