How a Culture of Overwork Became a Badge of Honour Among Bankers in the City of London

The Changing Face of City Culture

Once synonymous with suits, long lunches, and celebratory champagne corks in the Square Mile, London’s financial district has dramatically evolved into a hub where endless hours, relentless ambition, and burnout are worn almost as professional trophies. As global deal volumes pressure investment banks to remain fiercely competitive, the modern financier is redefining what it means to be successful—not through balanced living or mentoring relationships, but through a tireless, ever-on grind.

This renewed culture of overwork in London’s financial sector is no accident. While the perks and pay are as enticing as ever, the expectations are more punishing. In today’s City, it’s less about the “work hard, play hard” mantra and more about “work harder, sleep later.”

Perpetual Hustle: Why Overworking Has Been Glorified

The normalization of overwork did not happen overnight. Several intertwined financial and cultural forces have contributed to this new badge of honour worn by young and senior bankers alike:

• Competitive job market: The dream of a prestigious banking career still attracts thousands of graduates every year. The oversupply of eager candidates encourages banks to push their employees to the limits, knowing there’s always someone ready to step in.
• Global time zones: In a hyper-connected world, working across regions requires odd hours—London dealing with both Asia at sunrise and America at dusk creates unbearable shifts for junior staff.
• Sky-high transaction volumes: Record M&A volumes in 2021 and beyond have translated into sleepless nights for bankers trying to meet deal deadlines with razor-thin resources.
• Young ambition rewarded by sacrifice: In this culture, logging 90-hour weeks is often seen as a demonstration of loyalty, ambition, and capability—metrics that fast-track promotions.

Who is Bearing the Brunt of It?

While managing directors may have flexibility, it’s the juniors—analysts, associates, and early VPs—who suffer most. Reports of **working through weekends**, barely sleeping, and risking mental health have become increasingly common.

This environment is not just born out of necessities of the job but thrives on peer pressure and internal competition. One banker quoted anonymously shared, “The people who succeed here are the ones who are willing to sacrifice everything else.” That mentality feeds into a cycle many find hard to step out of.

Burnout, Mental Health and the Cost of Doing Business

Despite well-documented impacts of stress and exhaustion—including anxiety, depression, and physical illness—many in the City see burnout as inevitable.

• Exhaustion seen as victory: Being visibly drained isn’t just acceptable; it’s celebrated in some environments. A kind of martyrdom pervades the City, and effective work-life boundaries are ridiculed as signs of weakness or lack of commitment.
• Normalization through legacy: Senior bankers often reinforce the “I paid my dues” mentality, suggesting that suffering is part of the rite of passage to financial and professional success.

What’s clear is this: burnout may be the cost of doing business, but its consequences are mounting. Firms are witnessing higher attrition among junior ranks, leading to increased rehiring and retraining costs—undermining any short-term efficiency gains from overworking staff.

The HR Response: Too Little, Too Late?

In response to backlash and growing scrutiny, several investment banks—Goldman Sachs, JPMorgan, and Citi among them—have introduced initiatives aimed at improving employee well-being. These include:

• Mandatory days off
• Protected weekends for juniors
• Limits on video calls during certain hours
• Wellness stipends and mental health resources

But critics argue these HR-led reforms do little to address the root causes. For example, protected time off vanishes during peak deal seasons. Moreover, culture change often requires a buy-in from leadership—not just policy changes.

One VP in an international investment bank noted, “You can have all the policies you want, but if your MD sends you emails at midnight, you’re going to reply.”

The COVID Paradox: Flexibility Meets Fatigue

Remote work, once seen as a salvation during the pandemic, has had a paradoxical impact on banker workloads. While there’s no longer the grind of commuting into the City every day, workdays have lengthened due to:

• Constant connectivity through Slack, Teams, and email
• Blurring boundaries between professional and personal hours
• Increased client expectations for responsiveness

This shift has left many investment bankers—especially in junior roles—feeling more isolated. With the blurring of home and office life, many now report working as much as 100 hours per week, with little recognition from senior colleagues.

Is the Culture Sustainable?

Long-term sustainability of the City’s overwork culture remains an open question. While many young bankers still view these years as a stepping stone to lucrative exits or career jumps, older generations are beginning to warn that the relentless pace may erode both productivity and talent retention.

Industry insiders have voiced the need for a cultural reshaping that includes:

• Reevaluating performance metrics: Recognizing output and creativity over hours clocked
• Promoting servant leadership: Reconstruction of the “top-down” culture to foster mentorship
• Embedding wellness into KPIs: Holding teams accountable for attrition and stress levels

The truth is, a sustainable workplace culture must be designed—not left to evolve through market pressures and tradition alone.

The Way Forward

While peer admiration for 100-hour weeks may persist, the financial sector sits at a crossroads. Companies taking proactive steps to redesign work culture will not only retain top talent but also improve their competitive advantage in a world increasingly focused on sustainable growth.

Ultimately, the challenge is clear: Can City institutions remain powerhouses of financial deal-making while also protecting the well-being of the people behind the Bloomberg terminals?

If they can strike that balance, they may redefine prestige—not through endurance and suffering—but through purpose, performance, and humane workplace principles.

Key Takeaways

• Overwork is now a badge of honour in London’s financial sector
• Burnout among juniors is rising, and wellness policies remain insufficient
• Sustainable reform requires cultural shifts led from the top
• Balancing performance with well-being may offer a better long-term strategy

The conversation is shifting. Now, whether London’s financial giants choose to listen—or continue rewarding those who sacrifice most—may determine the City’s future as an employer of choice.< lang="en">