Typically, but not always, a watch will run fast when magnetized. It can be as small as less than a minute a day in my experience, or very fast at several minutes per day. In extreme cases I've seen the balance spring so contorted from magnetism it's stopped the watch completely.
Magnets and magnetic fields are all around us. If you handle loudspeakers with permanent magnets for example that could cause problems with the watch, but in my experience the iPad covers are a big offender, or any other device that uses small but powerful permanent magnets.
Cheers, Al