According to an article seen on the Straits Times, a survey conducted by Switzerland’s Banque Lombard Odier & Cie said that Singapore’s wealthy individuals are the least satisfied with their current work-life balance in comparison to their peers in other parts of the Asia Pacific region.
Only 30 percent of individuals with investable wealth exceeding $1 million in Singapore reported being happy with their work-life balance, which is the lowest among high net-worth individuals surveyed in the region.
Thailand ranked the highest
In contrast, Thailand ranked the highest in terms of satisfaction with a work-life balance, with 72.7 percent of respondents expressing contentment, followed closely by Australia.
The lower satisfaction of Singapore’s millionaires can be attributed, in part, to the amount of time they spend at work.
Survey shows that 26 percent of Sporeans work overtime
The survey revealed that 26 percent of Singaporeans often work overtime, and the nation has the longest working hours per week (45 hours) among 10 places in the Asia Pacific region.
Despite the current state of work-life balance among Singapore’s wealthy, there is a perception that the younger generation may shift away from the “work is life/life is work” mentality as Asia faces a significant wealth transfer in the near future.
The Lombard Odier report is based on surveys conducted with over 460 high-net-worth individuals in Singapore, Hong Kong, Japan, Thailand, the Philippines, Taiwan, and Australia between May and June.