How much did you spend last year on restaurants/clubs/trips ?

I just finished an estimate of my 2021 expenses and I was wondering if my restaurants/clubs/trips expenses were in line with other people in the industry.

For context, I'm a VP at a PE MF and made c. $600k (base + bonus).

Total 2021 restaurants/bars/clubs expenses : $15k

Total 2021 trips expenses : $25k

Comments (19)

  • Analyst 2 in IB-M&A
Jan 20, 2022 - 7:24am

I'm in a major, albeit LCOL, city not located in the northeast and made roughly $350k in cash comp last year as an associate. Spent ~$25k on restaurants/bars/clubs/etc and ~$25k on travel (had lots of weekend trips for various reasons, not limited to bachelor parties, weddings, etc. + one week-long vacation in the summer where I definitely went a bit overboard). Not married / no kids.

  • Investment Manager in HF - Other
Jan 20, 2022 - 6:19pm

Well to clarify that number, includes wife and kid. Also, with COVID last year we spent a few months working remotely in nice places (I.e., leave the NE in the winter for South America, Caribbean, or New Zealand type stuff). So house rental + flights is included in that figure. 

  • VP in PE - LBOs
Jan 20, 2022 - 1:24pm

Read it quickly and thought you said strip clubs, but apparently just in my head. Glorious days. 

Restaurants: $15-$20k (mainly just take outs)

Clubs: $0 (unless you include daycare for the offsprings, in which case too much)

Travel: $0 (normally in the $10-20k range per year all in)

An abnormal year for sure. As an aside you make more than I do.

  • Associate 3 in PE - LBOs
Jan 20, 2022 - 2:58pm

Made ~$300k excluding carry / co-invest

Spent $20k food / bars (including both home groceries / alcohol and going out), $5k travel. 

Most Helpful
  • Managing Director in IB-M&A
Jan 20, 2022 - 4:24pm

MD at BB in NYC. No wife/children.

2021 total comp: low seven-figures

Restaurant/club expense: $20k

I always prep my own food, so this is mostly family coming to NYC and me paying for them, or night out with friends. I prefer Day Game to clubbing, so spend $0 on night clubs and such.

Dating related expense: $10k (ballroom dancing classes, BJJ classes, comedy clubs etc.). I try to embody Roissy's Skittles Man, so my expense in this category is lower than that of my peers.

Trip expense: $15k

My expenses haven't really changed much from my Analyst days tbh. The only real difference is my housing.

Obviously there are others making less than me who spend more, and OP, I'm sure you also know a few people in the industry who "struggle" despite "only" making $500k/year. Although I am sure you already know this, but don't feel pressured to spend more than you want.

It can feel weird seeing the numbers in your bank accounts grow while your expenses have remained somewhat flat, and seeing your friends and colleagues spend exorbitant amounts on shit that you don't find appealing. Conversely, I have also been told that I was "wasting" money when I spent money on stuff that made my life easier.

Even though I no longer attempt to save money, and just buy whatever catches my fancy, my misc expenses still amount to less than $20k/year. Most of the stuff I am interested in (anime, manga, alternate history) is free on the internet.

  • Investment Analyst in HF - Other
Jan 22, 2022 - 11:08am

Curious how much is your house worth?

Jan 22, 2022 - 5:17am
CompBanker, what's your opinion? Comment below:

Spent about $6k on meals from restaurants (including takeout / delivery) and about $2k on flights + hotels. COVID was a factor, so you could probably double these numbers in normal years.

Rent: c.$100k USD (London is expensive)

2021 Comp: A few million USD after tax, mostly carry. 

Mentorship with CompBanker:

  • Investment Analyst in HF - Other
Jan 22, 2022 - 11:09am

been following you for years, well done btw. after all the realized carry, what's your NW now?

Jan 22, 2022 - 1:45pm
CompBanker, what's your opinion? Comment below:

Numquam deserunt fuga perspiciatis dicta consequuntur. Labore molestiae maxime commodi consequatur in. Sint alias et quia ut iusto nemo. Adipisci tenetur laudantium necessitatibus. Porro odio corporis et inventore. Iure cumque ipsa sit omnis molestias aperiam.

Quisquam dolorem iusto in non et et facilis. Esse est autem aut reiciendis voluptatum fuga et.

Mentorship with CompBanker:

Start Discussion

Career Advancement Opportunities

June 2022 Private Equity

  • The Riverside Company 99.4%
  • Apollo Global Management 98.9%
  • Warburg Pincus 98.3%
  • KKR (Kohlberg Kravis Roberts) 97.7%
  • Blackstone Group 97.1%

Overall Employee Satisfaction

June 2022 Private Equity

  • Blackstone Group 99.4%
  • KKR (Kohlberg Kravis Roberts) 98.8%
  • The Riverside Company 98.3%
  • Ardian 97.7%
  • Bain Capital 97.1%

Professional Growth Opportunities

June 2022 Private Equity

  • The Riverside Company 99.4%
  • Warburg Pincus 98.9%
  • Bain Capital 98.3%
  • Apollo Global Management 97.7%
  • Blackstone Group 97.1%

Total Avg Compensation

June 2022 Private Equity

  • Principal (8) $676
  • Director/MD (20) $595
  • Vice President (79) $360
  • 3rd+ Year Associate (81) $273
  • 2nd Year Associate (183) $266
  • 1st Year Associate (346) $226
  • 3rd+ Year Analyst (27) $157
  • 2nd Year Analyst (71) $134
  • 1st Year Analyst (210) $120
  • Intern/Summer Associate (22) $67
  • Intern/Summer Analyst (250) $58