[hkarthik]

He specifically said it was false for a certain group of people (those in banking).

People in banking/finance have a very skewed sense of reality when it comes to work and fair compensation. You generally have to take their anecdotal advice with a grain of salt if that's all they've ever done.

No line of work can consistently deliver the kinds of returns that finance can. Hence its very easy to justify the longer hours in that industry since they turn into very real dollars. For the rest of us, putting a dollar value on our output is much harder to quantify.