Wall Street Banks, Big US Firms Call for 80-Hour Workweek as Norm

Washington: Several American firms and Wall Street banks, including JPMorgan Chase, have called to enforce the extraordinary '80-hour workweek.' Working an 80-hour workweek means working from 8:30 am to 10 pm six days a week, which is still far above the typical 34-hour workweek of most Americans.

The banking industry is known for its hectic and overloaded work lifestyle. The relentless pressure to meet tight deadlines and close multi-million-dollar deals often blurs the line between work and personal life, leaving little time for rest and exhaustion.

This development comes amid controversy in India, where Larsen & Toubro Chairman SN Subrahmanyan recently suggested adopting a '90-hour workweek' to increase productivity and remain competitive.

JP Morgan, Bank of America Call for 80-Hour Workweek

Wall Street Banks like JP Morgan Chase and Bank of America are currently instituting an "80-hour workweek" limit for bankers, as per media reports. With this time reporting took, the firms will ask junior bankers track daily hours instead of weekly hours.

However, Goldman Sachs and Morgan Stanley as of now have not set limits on the number of hours individuals will have to work. Although, Goldman Sachs has a "protected Saturday" policy, ensuring employees have time off from 9 pm on Friday to 9 am on Sunday.

Notably, Elon Musk, the billionaire CEO of Tesla, has long championed the value of working exceptionally hard, stating that success requires one to "work like hell." Musk himself follows this regimen, although he has acknowledged that it comes with significant personal cost, describing it as inflicting "a really high amount of pain" over time. Despite these drawbacks, Musk maintains that such a relentless work ethic is crucial to his success.

What Is the 90-Hour Workweek Controversy?

Larsen & Toubro (L&T) Chairman S.N. Subrahmanyan, in a recent video circulating on Reddit, suggested that employees should work 90 hours a week and even on Sundays to boost productivity and stay competitive. The remarks have sparked widespread criticism on social media.

In the video, Subrahmanyan said, “I regret I am not able to make you work on Sundays, to be honest. If I can make you work on Sundays, I will be happier because I work on Sundays too.” He dismissed the idea of work-life balance with a controversial comment, saying, “How long can you stare at your wife? How long can wives stare at their husbands? Get to the office and start working!”

To justify his stance, Subrahmanyan shared an anecdote about a conversation with a Chinese individual who credited China’s strong work ethic for its global competitiveness. “Chinese people work 90 hours a week, while Americans work only 50 hours a week,” he said, urging L&T employees to adopt a similar approach to stay ahead.