Meal Allowances and Taxi policy

Hey,

Doing a little research. With the cutbacks and whatnot, what is everyone's late night meal allowance and what time does it start on weeknights? Weekend policy?

Thanks guys.

Transportation Services & Meal Allowances

Allowances for meals vary from firm to firm. However car service seems to standard across most banks.

  • The average expense for lunch is 10 dollars
  • Average expense for dinner is 25 dollars
  • Car service usually available after 9 on weekdays
  • Car service available anytime on weekend

Company Database

Interested in company reviews? Use the Wallstreet Oasis Company Database to access reviews, interviews, and salaries for thousands of firms.

WSO Company Database

Recommended Reading

Comments (126)

13y
DontMakeMeShortYou, what's your opinion? Comment below:
monkeyman09:
BB NYC - $20 for dinner, $75 total for the weekend. Taxis are for 10pm or later and anytime on the weekend. Dinner is usually acceptable after 9pm.

I don't see that across the board...

Most places I know are still $25 and $10 for lunch/$25 for dinner on weekends. There are, of course, variations.

13y
Marcus_Halberstram, what's your opinion? Comment below:

$75 dollars for the weekend? Jesus.

I'm at a boutique. We get lunch to $12, dinner to $17. I don't know what the standard times are, I order dinner whenever, as early as 6PM. Our pantry is typically stocked with snacks, microwave meals, fruit, drinks, candy etc... even ice cream sometimes.

Car service is the same... whenever, but I typically dont think its warranted earlier than 9 PM.

Array
  • 1
13y
Marcus_Halberstram, what's your opinion? Comment below:
MoneyKingdom:
Kanon:
@ Marcus - the lunch credit is pretty sweet

previous BB: $25 dinner, $50 wknd, cabs after 9pm.

This was mine when I worked in banking. Cabs after 10:00 now.

Im curious to know what the perks are in PE?

Array
  • 1
13y
HerSerendipity, what's your opinion? Comment below:

It depends on the PE shop. Some bigger places (like Kelson) have their own chef who cooks lunch and dinner. Other places (like my shop) don't have anything by way of meal credit or cars. I think it's mostly because 1) you make enough money to afford that stuff and 2) you're not in the office that much on a consistent basis. When I first got here, I was spending a great deal of time in the office on some new projects. I asked about dinner allowance and got laughed at by some of the more senior associates.

We do, however, have a stocked kitchen/cafe area with tons of drinks, snacks, breakfast bars, etc.

13y
kanon, what's your opinion? Comment below:

...Maybe I'm just out of the loop, but I've never heard of Kelson PE shop. Know of Kelso & Co., but not of the former. But their own chef, that's pretty cool. How big is the firm exactly?

@MoneyKingdom - yeah, it did get pushed back to 10pm. I also heard $25 became $20 but I never bothered to get that confirmed.

13y
HerSerendipity, what's your opinion? Comment below:
Kanon:
...Maybe I'm just out of the loop, but I've never heard of Kelson PE shop. Know of Kelso & Co., but not of the former. But their own chef, that's pretty cool. How big is the firm exactly?

@MoneyKingdom - yeah, it did get pushed back to 10pm. I also heard $25 became $20 but I never bothered to get that confirmed.

Kanon, good catch. Mis-typing on my part. I think it's about 20-25 investment professionals.

www.kelso.com

What's interesting about that particular firm (and i've only worked along side them on a few deals) is that the principals invested a significant chunk of their 8th fund. I forget the exact number exactly.

13y
Shake, what's your opinion? Comment below:

BB - NY

Meal Allowance: $25 if delivered after 7pm during the week. On the weekends, we get $20 for a meal before 3pm and then another $20 for a meal after 3pm.

Car Service: During the week it's available after 9pm (after 8pm for some locations). At all times on the weekends.

Pantries: Limited. I just started recently, so I don't really know how much has been cut back, but there really isn't much. There's the obligatory Flavia machine and milk & cream is available. Although, I overheard one of the assistants saying there was talk in the past about charging for use of the machine. Vending machines/shops/drink bars are stocked well, but at a cost.

13y
mxc, what's your opinion? Comment below:

Multiple on-site restaurants Free snacks, juices, smoothies, ice creams, you name it Comprehensive breakfast Xbox, Wii, massages chairs Taxi service

... Google

13y
gboi, what's your opinion? Comment below:

Multiple on-site restaurants Free snacks, juices, smoothies, ice creams, you name it Comprehensive breakfast Xbox, Wii, massages chairs Taxi service

FYI, as far as i know, the taxi service is only to be used as a last resort if you miss the last shuttle. it's not to be used on a regular basis.

13y
Aviator, what's your opinion? Comment below:
maxcanada:
Multiple on-site restaurants Free snacks, juices, smoothies, ice creams, you name it Comprehensive breakfast Xbox, Wii, massages chairs Taxi service

... Google

This is just for the Mountain View office right ? Not the Manhattan one ?

13y
mxc, what's your opinion? Comment below:

All offices I've been to offer that kind of perks. But I'm off-topic.

13y
GoneTillNovember, what's your opinion? Comment below:

During the week:

$25 for dinner taxi rule is technically after 8pm but never get questioned if its before

Weekends:

$50 per day taxi whenever

Pantry isn't stocked other than one of those Flavia coffee machines and some packets of soup.

13y
leonidus, what's your opinion? Comment below:

Thats because Canada sucks my friend.

13y
cphbravo96, what's your opinion? Comment below:
drexelalum11:
creative:
Nooe! we have multiculturalism! thats always free at any job here! :P

Since when does Canada have minorities?

That is a mighty good point there.

I was going to say the one thing Canada has that the US doesn't is socialized medicine, but the way the current regime...er, administration is fucking things up, we will be there in no time.

Regards

"The trouble with our liberal friends is not that they're ignorant, it's just that they know so much that isn't so." - Ronald Reagan
  • 1
13y
mr_bigglesworth, what's your opinion? Comment below:

Anyone find that people will dick around and stay late, not that there's work that cannot be done in a timely matter, but because they want to milk the car ride and dinner out of it? I know someone who will go in for a couple hours on a weekend, just to get lunch. This isn't necessarily a conscious decision, just the culture. Also to "get ahead" it seems like everyone's into face time. Even if you're not working hard, it looks good if you're the last person left in the office.

13y
ramadjaffri, what's your opinion? Comment below:

My friends at PwC and MBB got their midnight meals taken care of.

Fortes fortuna adiuvat.
13y
Mzzzz, what's your opinion? Comment below:

about 35.

thought about buying dinner/next day lunch together, but i dont because: a) no one else does it, so I dont want to look like the oddman out, and b) a lot of the stuff that is ordered in is pretty expensive, eg, last night mine was about $25 for a decently health thai meal + a soup.

13y
ideating, what's your opinion? Comment below:

Can't tell you how many times a colleague has made himself/herself look really bad by trying to "optimize" allowances.

I know it sounds awesome as a college kid to get $35 for dinner but keep in mind that people notice things. As Mezz said, you don't want to be the odd man out and it's a really stupid thing to be judged on.

13y
Mzzzz, what's your opinion? Comment below:

ya 35 is the hard limit, dont think anyone orders that much though,

20 is doable.

13y
lorican, what's your opinion? Comment below:

£15.

As to how far it goes depends on what I order. For example, I can gorge myself on 4 boxes of gamey sushi and wash it down with 1.5l of Coke, or I can have a nice (somewhat haute cuisine) healthy chicken salad and a can of OJ.

__________ Just my 2c.
13y
MoneyKingdom, what's your opinion? Comment below:

$35?? Not at a US BB. The standard now is $25. (Used to be $35 in 2007, I think JP still does $30). Regional offices have $20 limit. Most of the time, no one cares if you bill it to a client.

13y
GordonsGecko, what's your opinion? Comment below:

Dude I'm tired of seeing you interns and 1st years and even some 2nd years try to max out the $25 ... are you really that broke?

It just shows a lack of class .... buy what is needed and don't skimp on your own comfort but quit acting like the guy who hangs out in the subways and horde food .... its extremely silly and makes others think wtf is up with you.

Everytime someone has done that in my office, it's made them very disliked

13y
tripleD95, what's your opinion? Comment below:

JP got bumped back to $25 from $20. Goldman (last I checked) is still at $20. Maybe they should bump it up before they start losing people to Citi (which, despite their government crutches, stayed at $25 through the whole crisis).

13y
superconnard, what's your opinion? Comment below:

What about LONDON rates?

"What we can, we must; and because we can, we must"
13y
lorican, what's your opinion? Comment below:

^ Depends on the bank and how they do things. Some allow you to hand in receipts, some only do vie urbanbite/seamless web, and others do both. Usually, for receipts the limit is lower than for online orders - discounts I figure.

But the general range of the banks I've heard of was £10-20.

__________ Just my 2c.
13y
cplpayne, what's your opinion? Comment below:
gekko2:
an SA with a fiancée? so you'll be married once you start FT? congrats and good luck.

Thanks, took a different path to IB than most. Served in the military before undergrad so I am 26 and will be married when I am FT.

"One should recognize reality even when one doesn't like it, indeed, especially when one doesn't like it." - Charlie Munger
13y
cplpayne, what's your opinion? Comment below:

No hours are worse than 7 months apart

"One should recognize reality even when one doesn't like it, indeed, especially when one doesn't like it." - Charlie Munger
  • 1
13y
brokencircle13, what's your opinion? Comment below:

Typically, 12 am is a good time to take the car service and people are cool with it. But I think in your case it's fine regardless since you live in NJ. Most analysts live in NYC.

--Death, lighter than a feather; duty, heavier than a mountain
13y
BrokenIncome, what's your opinion? Comment below:
RoyKimGT:
... you just pig out, and order the most expensive shit on the menu.

LOL! Unless you're pigging out on the "most expensive shit on the menu" at McDonald's, your $30 isn't going very far. Tax+tip, etc.

13y
crayon1, what's your opinion? Comment below:

how does the meal allowance work?

do you charge the meal to a corporate card?

or...do you buy it on your own and get reimbursed later?

Also, aren't you liable for the tax portion of the reimbursement? I've interned at a big 4 and I was taxed on my meal reimbursements because it was considered an employee benefit.

Although it may be just a few dollars, something to think about I guess.

13y
PoolSideBanker, what's your opinion? Comment below:
sleepyguyb:
I'm assuming you can order with a few people to save on tip. 3 people, $75 you can get a good meal.

Haha, most normal people will calculate tip based on percentage of the bill, so I don't know if this will work hotshot.

13y
jj80, what's your opinion? Comment below:

either corporate card or seamless web corporate account...or you get receipts and get reimbursed

13y
Bananalyst, what's your opinion? Comment below:
WizardofOz:
my first few months on the job i used to max out my allowance to the last cent.

shit gets old real fast. now i'm happy with just a burrito.

Chipotle by GCS? I live there...though I buy 2 (for lunch the next day).

13y
sleepyguyb, what's your opinion? Comment below:

I normally don't tip by % of food if its delivery, that seems to me to be a rule for eating in. ie if I order 30 bucks of food, ill give 5 bucks tip, if I order 75 bucks of fool, id give 7 bucks tip. Ill increase it, but not at the same % In dinning generally, the amount of service you receieve and therefore pay for is pretty proportional to sales, but delivery is delivery. I don't think its more work really for more food.

13y
mika, what's your opinion? Comment below:

Seems like it would make more sense to tip by weight. $1 for every pound over 5. Or make people tip more for things that are not square. Or really hot. Or so delicious that it is torture to not eat it in the car on the way over.

13y
StreetLuck, what's your opinion? Comment below:
luke77:
Can't you spend your full allowance and then take home your leftovers and eat them the next day for lunch? That way you are pretty much getting 2 meals? Or do they frown on that or something?
That's what I did over the summer..
13y
Jaygatsby28, what's your opinion? Comment below:

NYC over here. Ate at the desk half the time, other half ate with full times when I was a summer. We would just take over the conference room/ recently moved md's office and eat together for 20 min or so.

Luke77, no one frowns on that. If they do go tell them to suck it. Although, I am not sure you will have much food for the next day. I know I ate my leftovers 3-4 hrs after dinner.

Some co's have subsidized cafe where you can get a quick sandwich for $4 that is actually decent. That's what I did for lunch each day.

If you get a chance, use someones seamless if you know they aren't eating. Stock up on Voss water baby...j/k. Seriously grab some water/snacks with someone's unused seamless.

13y
ChickOnDeck, what's your opinion? Comment below:

If it were me, I'd eat everything I could possibly get my hands on. I would order out everyday and eat a ton of gummy bears with whatever left over money I have.

13y
Oconnor, what's your opinion? Comment below:

Would you actually want to waste your time in the morning packing a lunchbox or doing something more important, like sleeping an extra 15 minutes?

13y
WizardofOz, what's your opinion? Comment below:
Oconnor:
Would you actually want to waste your time in the morning packing a lunchbox or doing something more important, like sleeping an extra 15 minutes?

wow.

why take a shit in the morning? if you don't, you can get an extra 2 mins of sleep.

13y
Oconnor, what's your opinion? Comment below:

Yep, that's why you take a dump once you have arrived at the office and shown your face. It's all about time management.

13y
albatrosslee, what's your opinion? Comment below:

Because we all know, if a situation like this ever comes up in the workplace, you damn well better be prepared for it and know exactly what to do.

Don't you have some more important questions on your mind? Like, oh, I don't know, what is the name of that hot broad that works in operations?

13y
Oconnor, what's your opinion? Comment below:

Yeah most of the time the allowance is too generous in terms of just dinner since people buy other stuff for the following day (drinks and sometimes something I can eat for breakfast since I'm a cheapskate). I can't imagine them cutting down on stuff like that too much though since it really doesn't affect the bottom line in comparison to md's taking private jets whereas it will piss off a lot of vp's and downwards.

  • 1
13y
GameTheory, what's your opinion? Comment below:
Oconnor:
Yeah most of the time the allowance is too generous in terms of just dinner since people buy other stuff for the following day (drinks and sometimes something I can eat for breakfast since I'm a cheapskate). I can't imagine them cutting down on stuff like that too much though since it really doesn't affect the bottom line in comparison to md's taking private jets whereas it will piss off a lot of vp's and downwards.

I can't think of one instance in which an MD took a jet, other than for roadshows, which are paid for by the client.

13y
CaptK, what's your opinion? Comment below:

I've got $25 for dinner, plus $25 for breakfast/lunch on weekends.

  • Capt K
- Capt K - "Prestige is like a powerful magnet that warps even your beliefs about what you enjoy. If you want to make ambitious people waste their time on errands, bait the hook with prestige." - Paul Graham
13y
x35109, what's your opinion? Comment below:

120 per diem? do you mean while you're on the road? we have 100 per day when we are on the road. i think people are referring to how much they get to spend per night on seamless. 25 here

13y
curiousmonkey, what's your opinion? Comment below:
x35109:
120 per diem? do you mean while you're on the road? we have 100 per day when we are on the road. i think people are referring to how much they get to spend per night on seamless. 25 here

don't think that's exclusively for on the road.

i was at a boutique consulting firm and we had a very generous limit (more than twice as much as the numbers being bandied about here) for dinner every day, even at the office or client site.

i think on the road we could expense lunch and breakfast as well.

13y
big unit, what's your opinion? Comment below:

"120 per diem? do you mean while you're on the road? we have 100 per day when we are on the road."

Yeh on the road and after 7 pm in the home office. Since there isn't work on Fridays, its pretty much just Mon-Thursday evening. But I think you can pretend its after 7 when you leave and still expense.

13y
joefish, what's your opinion? Comment below:
x35109:
i'm getting fat on 25 dollars a day in the office after 8pm. i can't imagine what would happen if i ate 100 per dinner.

hehe you'd probably eat a lot more sushi :)

13y
SECfinance, what's your opinion? Comment below:

Illo facilis ducimus exercitationem porro non magni sint. Non id rerum praesentium et. Placeat corrupti nihil et autem temporibus.

Non impedit nihil quia porro doloremque. Hic alias ipsa voluptates asperiores inventore aperiam. Veritatis nisi nulla dignissimos quis in. Adipisci nemo ad consequatur officiis aut corporis porro.

Quod ut et provident et exercitationem. Et ut nisi quis ex quaerat. Dolorem placeat fuga nostrum iure ducimus. Beatae dicta quas impedit. Temporibus quasi consequuntur et harum iusto.

MM IB -> TMT Corporate Development -> New Ventures
13y
Flaterfoon, what's your opinion? Comment below:

Voluptas consequuntur aut est repellendus qui dolorum. Adipisci vero numquam esse dolorum fugit non ad id. Quia optio enim sunt. Pariatur dolorum qui possimus qui. Qui dolores adipisci explicabo non dolore labore.

Maiores excepturi atque illo amet. Quia quos voluptas quia libero rerum. In voluptatum harum omnis quo corrupti. Quaerat enim asperiores rem.

Tempora aut distinctio esse commodi corporis voluptatibus velit. Excepturi adipisci cumque voluptate ut numquam inventore. Voluptatum quae molestiae molestiae tempore reprehenderit doloribus.

Dolorem labore aut provident nam. Vitae eos neque consectetur ab. Modi facere et voluptatem et non in voluptatem odit. Debitis id voluptate ipsa ut repellat deserunt. Voluptas dolorem nihil accusamus dolor placeat nesciunt. Dolorum alias ea velit doloremque.

13y
SonnyZH, what's your opinion? Comment below:

Qui ea sed optio eius velit. Illo eos consequatur officiis cupiditate aut autem rerum. Ut nihil voluptatum ea omnis id quasi. Enim commodi dolor eaque et cupiditate maiores assumenda.

Iure non hic repellat ut et rerum odit quis. Rerum sed harum tenetur enim ea. Sunt odio harum deserunt. Incidunt provident qui maiores ad consectetur. Saepe et reprehenderit quasi consequatur.

[quote]The HBS guys have MAD SWAGGER. They frequently wear their class jackets to boston bars, strutting and acting like they own the joint. They just ooze success, confidence, swagger, basically attributes of alpha males.[/quote]
13y
dmm, what's your opinion? Comment below:

Neque autem modi autem voluptatem non qui sit. Veritatis commodi quia voluptate est in. Vero sint ea inventore eaque ipsum culpa culpa. Sequi voluptatibus architecto eum animi tempore repellat.

Voluptates nihil qui natus praesentium ipsam. Nihil et sint unde. Officiis architecto recusandae distinctio recusandae voluptate quod. Laboriosam hic et dolor nisi.

2y
SMNONTG, what's your opinion? Comment below:

Voluptas nihil omnis sint voluptas amet. Non sit delectus qui eos dolorem consequatur dolorem. Rerum culpa sed non ipsum animi ab.

Autem saepe sunt blanditiis labore quibusdam omnis. Maiores sequi illo et voluptas est. Est quisquam ullam id. Itaque commodi dignissimos enim autem optio aspernatur. Beatae nostrum aliquam vel quia.

Velit laborum aut dolor modi odit sed qui. Ut voluptatem voluptatum dignissimos et aut labore. Repudiandae sequi nihil deleniti aliquid qui. Possimus aut facilis sit est cumque. Sit consequatur debitis voluptas mollitia est nisi accusantium.

Possimus ipsam magnam esse laudantium vel et sed. Voluptas quidem voluptate eligendi unde autem cupiditate ea. Omnis eum cumque molestias quia repellendus recusandae. Cumque similique et voluptas. Cumque explicabo nemo non maiores nam nulla. Provident nemo et distinctio optio.

Array
Start Discussion

Career Advancement Opportunities

December 2022 Investment Banking

  • Jefferies & Company (▲08) 99.6%
  • Lincoln International (= =) 99.3%
  • Financial Technology Partners (+ +) 98.9%
  • Evercore (▽01) 98.5%
  • Bank of America Merrill Lynch (▲01) 98.2%

Overall Employee Satisfaction

December 2022 Investment Banking

  • PJT Partners (= =) 99.6%
  • Evercore (▲02) 99.3%
  • Greenhill (▲05) 98.9%
  • Canaccord Genuity (▲15) 98.5%
  • William Blair (= =) 98.1%

Professional Growth Opportunities

December 2022 Investment Banking

  • PwC Corporate Finance (▲14) 99.6%
  • Jefferies & Company (▲05) 99.3%
  • Lincoln International (▲02) 98.9%
  • William Blair (▽02) 98.5%
  • Evercore (▽01) 98.2%

Total Avg Compensation

December 2022 Investment Banking

  • Director/MD (10) $613
  • Vice President (38) $392
  • Associates (220) $255
  • 2nd Year Analyst (139) $163
  • 3rd+ Year Analyst (19) $160
  • 1st Year Analyst (466) $153
  • Intern/Summer Associate (88) $151
  • Intern/Summer Analyst (338) $92