At Bosch CI, we do not have permanent admin rights on our workstations, however we can enable them temporarily with the press of a button (filling in a quick explanation why we need them). I think, that's very acceptable, but for my usual SE work, I would not need admin rights. Actually, I found ways to install most stuff which I needed admin rights for before without admin rights (for example by unpacking software to user directories and using the Windows Task Scheduler and scripts to operate them). Not running with elevated rights might even improve security :)
On servers, it depends on our tasks. I have to administrate a few servers, on which I do have admin rights, but usually, I don't if I only need to restart or upload things.
Depending on what you do, though, you might be in need of admin rights and if you feel like you can improve your efficiency by having them, you should talk to your manager.