Study: Private equity and venture capital professionals work 56 hours a week during pandemic
Working hours reportedly increased by 4 per cent on average between 2019 and 2020, according to a report by Movemeon.com and Payspective.com, shared with City PM this morning.
Compiling 35,000 data points, the study was conducted before the second wave. It found that working hours increased by 8 per cent for private equity and venture capital professionals, to 56 hours per week.
Consultants and corporate employees surveyed in the report had the same working hours, averaging 49 hours per week.
The report found that overall happiness by time worked is consistent up to 60 hours per week. Working more than 60 hours per week showed to have a negative influence on workers’ happiness.
Nick Patterson, co-founder of Movemeon.com, said that uncertainty tends to drive long hours. “The more clarity you have, the shorter the hours tend to be”.