Hedgefund Hours

Really depends on the kind of shop, firm culture and PM work style. Heard multi-managers work a lot, I work 60-ish hour a week and love it, I am sure some work even less and still do well, but job openings are so scarce that at some point you have to go with what you have. 

Also, work life balance in HF is deceptively good because a lot of us love what we do, so we are voluntarily reading fund letters, annual reports / transcripts and generating ideas over the weekend. Those hours are not counted in the work hours. 

Finally, tying to the previous point, it's about your level of experience and how intelligent you are (some ppl are just not smart, me for example, so I have to put in the hours to understand how a new sector works). Some PMs are pretty hands off, so if you can generate one alpha idea in 2 hours, rest is yours to keep. I doubt PM is expecting you to generate 20 alpha ideas a week just because your turnaround is so quick.