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November 2016 - Media and PR

Survey finds demand means advertisers are working 70 hour weeks to keep up: A recent media and PR survey by Prudential has revealed that more than 25 per cent of advertising professionals are working more hours than they were a year ago.

According to Prudential, 27 per cent of advertisers are working longer hours and a further 4 per cent of advertisers are working more than 70 hours a week, which is equivalent to working 14 hours per day for five days per week. On the other hand, the number of people working 70 hour weeks rises when looking at mortgage advisers (6 per cent) and debt management specialist advisers (7 per cent).

When exploring how long employees are working in companies with more than £50 million of assets under management, 28 per cent of advisers were found to be working longer hours, in comparison with 24 per cent of advisers working for companies with less than £10 million in assets.

The survey findings revealed that the advisers in the survey charge an average hourly rate of £157 per hour. However, tax advisers charge an average of £167 per hour and mortgage advisers charge an average of £143 per hour.

Of the advisers in the survey, more than 10 per cent said that they work less than 30 hours per week and a further 19 per cent said that they work fewer hours now than they did last year.

Following the survey findings, Prudential have estimated that advisers spend 1 hour and 42 minutes on continuing professional development every week and around the same amount of time attending client meetings which ultimately do not result in the generation of new business.

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