This paper is the first to investigate the role of work-life balance in financial analysts’ performance and career advancement. Using a large sample of Glassdoor reviews by financial analysts, we find a significant non-linear relation between broker-level work-life balance satisfaction and analyst performance and analyst career advancement. Specifically, when work-life balance satisfaction is relatively low, an increase in work-life balance is associated with better analyst performance and career advancement; however, when perceived work-life balance is already high, a further increase in work-life balance is associated with worse analyst performance and career advancement. We make further use of detailed LinkedIn data and measure work-life balance at the broker-office-level and find consistent results.
Analysts, Work-Life Balance, Job Satisfaction, Performance, Promotion, Labor Market, Social Media
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