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 Asia Pacific, according to a survey from a Geneva-based private bank.

Only 30% of people with an investable wealth of more than $1 million in Singapore 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 showed.

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 Asia Pacific, according to research by 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.  — Bloomberg