110 hours would be if they have 3+ deals closing at once, but I’m counting (since everyone else does) the total hours as the total time in the office. Someone may only work for 85 hours a week, but have a 1 hour (semi-working) lunch, a 1.5 hour dinner / gym time in the evening, and a couple of shorter breaks throughout the day. They’re still in the office for about 110 hours though.
I’m not even counting the down hours when you talk with coworkers and are just checking emails. If you don’t fully count them, you’re probably only working 75 hours. Lastly, people will exaggerate some, but they’re not exaggerating that much.
I’m going off memory here, but someone I spoke with about 5 years ago (pre-Covid, in a normal week) would get into the office at 9, would check emails / gossip a little bit until 9:30. Then he’d work some in Excel / PowerPoint doing what his MD wanted until about noon, he’d have lunch until one, then would go back to fully working until 5-6 (of course, with periodic email breaks and chatting with coworkers). The MD would probably be gone by then, but he’d email a couple of things he wanted and then have dinner / gym time. He’d return to work between 8-9, do a little more work (to be honest, looking a little busy) and would then probably do the MD’s last edits before doing some work on his own and leaving at around midnight.
Some of that is tedious, but it’s not that difficult and goes by quickly when you get into a rhythm. What’s really boring is if you have to (for example) change the font and borders on a 100+ page slide deck, or redo a lot of excel work to get what the MD wants for a valuation.*
* Most calculations have a 10-20% range - if your MD wants a lower value, then you’d assume lower growth rates and other lower values. It’s a little controversial, but typically the MDs have enough experience to determine something’s (relatively) fair value. They just want something confirming their beliefs and that they can use, so they’ll tell their associates and analysts to create data that “works”.