This Vault article on work-life balance is a little friendly to the investment banking industry. Here are some further thoughts about some abstracts.
(...) despite the monstrous workloads, many analysts and associates say their firms actually provide them with a very good work/life balance.
One can challenge the reliability of Analysts' and Associates' views, since they have generally not worked in a traditional corporate environment. Many suffer from burn-out and leave their industry.
(...) the ubiquitous phrase work/life balance does not necessarily (or only) refer to number of hours worked; rather (or in addition), it refers to flexibility of scheduling, the ability to work remotely, respect of one’s time, the ability to take the vacation time one is entitled to, and not doing meaningless work, among other things.
...in which case(s), one needs to be realistic and acknowledge there is little work-life balance in the industry! Working remotely equates to working any time and all the time. Junior bankers are often unable to plan much privately due to the required "flexibility" (i.e. availability) for work. The sheer quantity of (sometimes meaningless) work under inefficient practices all add to a high number of working hours and a very suboptimal work-life balance.
(...) most people don’t mind if you take a day off to attend things such as weddings or family events—as long as the work gets done
"As long as the work gets done" (!) This says it all. Priorities are set. Family birthdays, weddings or funerals will be missed during a banking career...
(...) Senior bankers don’t care if you’re in the office as long as you’re getting your work done (...)
Since they don't (indeed) care, it is safe to bet long hours will be spent working...
