Just like with bulge bracket banks vs. boutiques, it’s tough to generalize here too. Often the lifestyle of a particular group depends most on the dealflow in that sector or product and on the personality and culture portrayed by the group head(s) or senior bankers in that group. Obviously if there are a lot of deals in say, Industrials but few in Healthcare, then the bankers in Industrials will likely be busier. However, if the head of Healthcare is really aggressive about marketing, then the healthcare bankers may be working 24/7 on pitches.
Alas, some groups do have reputations for having better or worse lifestyles. Bankers in product groups (M&A, Leveraged Finance) on average probably work more hours than bankers in industry groups, except during markets when there are few deals being executed. Groups such as Debt Capital Markets (DCM) and Equity Capital Markets (ECM) are sometimes referred to as “banking-lite” and offer better lifestyles (and lower compensation) than other groups within investment banking.