I leave mine on sometimes for an entire day if Im working on something big or doing stuff frequently.
If I know Im probably not going to be using it for a little while I'll at the very least add a blob of solder to the tip so that its not out in the breeze. If I dont think I'll be using it for a longer while then I'll probably turn it off (always after adding a little more solder to the tip).
Its a Hakko FX-888D and heats up to useable temperature in about 20 seconds, so I really dont care whether its on or off at the instant I need it anyway.
I also put the iron back in the holder without cleaning the tip, so that what ever solder is left on there hopefully prevents the tip oxidising too much. I only clean it when I take it back out to use it again. I use a brass sponge/wool, rather than a wet sponge, as it seems to clean around the entire tip in one go instead of having to wipe multiple times at different angles. A couple of jabs and jobs a good'un. Brass sponges seem to last longer too and dont get all manky.
I dont use it every day, but after a couple of years of semi frequent use like this my tips are still looking and working just fine IMO.