Singapore’s rich are the most unhappy in Asia with work-life balance
Singapore’s wealthy are the least satisfied with their current work-life balance when compared with their peers in other parts of the Asia Pacific region, according to a survey from a Geneva-based private bank.
Only 30% of people in Singapore with investable wealth of more than $1 million find themselves happy with their work-life balance, the lowest among high net-worth individuals in the region surveyed by Switzerland’s Banque Lombard Odier & Cie SA.
Thailand topped the ranking with 72.7%, followed by Australia, the study published Thursday found.
The city-state’s cohort of unsatisfied millionaires can be partially explained by the amount of time spent at work, with 26% of Singaporeans responding that they often work overtime, according to report. The nation has the longest working hours per week — 45 — across 10 places in the Asia Pacific, according to research by the London-based flexible-workspace company The Instant Group.
Still, there is a perception that the younger generation will move away from the "work is life/life is work" mentality amid Asia’s looming massive wealth transfer, according to the Lombard Odier report.
The bank questioned more than 460 high-net-worth individuals in Singapore, Hong Kong, Japan, Thailand, the Philippines, Taiwan and Australia between May and June.