Finance Professionals Report Working Longer Hours

Working in the banking industry can mean longer hours for many, and a new survey seems to suggest that this won't change any time soon. While many financial professionals report to be working longer hours than they did two years ago, the amount varies by country.

According to Robert Half

While American finance managers are putting in longer hours, their counterparts overseas are working even longer hours. American finance managers surveyed work on average 40.9 hours per week. German finance managers, on the other hand, report working on average 42.2 hours per week, while those in Japan report working on average 47.1 hours per week.

However, while American finance managers may appear to be working less hours on average than their counterparts in some countries, they are also more likely to use their time away from the office, whether at home or on vacation, to work. Close to 40 percent of U.S. survey participants said they bring their laptops or PDAs with them on vacation. To give this some perspective, 16 percent in Ireland, a country near the top of the list in terms of hours worked per week, reported doing the same.

More American finance managers claim to work on weekends. Only 32 percent of Americans polled said they never work on the weekends, while 65 percent in Spain and 51 percent in New Zealand say the same. Further, one quarter of Americans polled said they work three or more weekends each month.

The reasons for woking extra hours vary. The most common reason, cited by 56 percent, is taking on more responsibility. This was followed by 45 percent who said company growth led to them working more hours, while 27 percent said it was due to being understaffed.