At my bank we get $15 to spend on meals when working late -- I feel like this is low compared to rest of the street.
I would love to get this increased, but first I need some supporting peer data.
Please drop a quick reply with the amount you get per night, and the name of your bank if possible. Also, if "your friend works at XX bank and gets $25," i'd appreciate that type of information as well.
Thanks so much, guys.
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You may remember i solicited your info regarding Analyst salaries a while ago. I got great responses and was able to get everyone at my bank a $10,000 raise... so i'm hoping for a repeat here!
Sent PM
I would say the majority of BBs is between $20-$25. A few had the $25 limit and ended up dropping them during the downturn.
I should caveat that I've been out of banking since YE'08.
PM sent, hope it helps
Not sure how large your bank is, but can one analyst really change their policies?
If you can update the original post with the answers you got from PM that would be great.
25
here's what i have so far:
Barclays Capital, Chicago, $25.00 Blackstone, New York, $25.00 Broadpoint Gleacher, New York, $30.00 Credit Suisse, New York, $20.00 Crowe Capital Markets, Chicago, $25.00 Deutsche Bank, New York, $20.00 Goldman Sachs, New York, $25.00 Houlihan Lokey, Chicago, $25.00 Jefferies, New York, $25.00 JP Morgan, Chicago, $25.00 Merrill Lynch, Chicago, $20.00 Moelis & Co., New York, $25.00 Perella Weinberg, New York, $25.00 RBS, Stamford, $20.00 UBS, New York, $25.00
Add Bank of America and Wells Fargo @ $25.00 for NY/Houston/SF/LA/Charlotte
I believe Citi NY is also 25
Does your bank lowball you all the time or what?
Isn't GS $50 on weekdays and $75 on weekends?
Anyone from Morgan Stanley, Piper Jaffray, Peter J Solomon?
Thanks again for the responses...
Houlihan Lockey Restructuring Group: $40 for dinner. $10-15 for lunch. yea i know its crazy...
^^damnnnn...do they also pay above street compensation?
I work at a private bank, they don't really give us money for dinner.. we just get big bonuses in Dec-- nobody complains.
MS is either $20 or $25, can't remember whether they've changed it
MS changed it to $20 I believe
No one cares, take ur 10k and gtfo. This is for investment bankers you ratfaced loser.
Qatalyst- $150
To the OP - I think it's safe to say that your firm is cheating you with $15 for dinner.
Renaissance Technologies $20 / $25
Most restructuring shops give lunch and dinner. We get $15 lunch, $25 dinner. Weekend work same as above plus you can expense breakfast.
If we have an exceptionally brutal couple weeks, we can sometimes let loose and go out to a nice restaurant and expense it to the client (sometimes only expense half the bill depending on how expensive, or if its something that will be scrutinized).
hlhz rest is 20 for lunch in LA. pretty ridiculous #. I heard the analysts definitely get paid above street( well, last year at least)
Thank again, everyone.
Can anyone speak for Harris Williams?
So given that the avg is about 25$, what do people end up doing for diner ? you still grab a sandwich and eat at your desk or just get a nicer meal delivered ? Thanks in advance
Get it delivered (seamless). Funny thing is most people have their favorites that they eat multiple days a week, even though you have hundreds of options.
True that, I eat the same shit all the time. On the weekends I get a bit more adventurous.
So what's everyone's favorite 25$ dinner?
Sushi, quick and easy and no mess. Also easy to drop if you have to do something, then come back and eat it later.
"seamless web" is the name of the website that most of us use to order food. i dont even have to tip the delivery guy. it is all taken care of. i order in every evening, often with my fellow associate. the two main dudes in my group are out quite a bit and they allow us to use their allotment if they aren't eating with us.
oh, and we get $25 for dinner. i must say it is one of the nicest perks. it's SO easy to order something really nice from seamless web.
we don't get money for lunch. there is unlimited fruit in the morning and coffee. but no stipend
all the asian plates sushi, sweet & sour chicken, bulgogi
Seamless ftw!
Probably one of the best perks, IMO.
Unfortunately, Im not in IB.. and I dont get $ for lunch/dinner..
do you get a meal allowance in toronto?
is it similar to the us guys? like $20 CAD? and what about cars home from Bay street
could you expense something to a place like whole foods? or just restaurants?
can u spend the money on alcohol and sex?
We get 25.
Also use seamless web to order as you can tip via the order and stack that onto the firm also.
We also can use taxis or town cars to get home with our corporate cards if we are later than 7pm (ie every day virtually).
Same as mexico bankers. Who the fuck cares?
Success.
Thanks, everyone.
Congrats!
Wow thats awesome! congrats!
Do Summer Analysts get the same dinner expense?
it's not really lowballing as it is your bank is just terribly slow to respond to (or unaware of) changes across the street. many bulge brackets lowered the dinner budget to $15 during the worst of the recession (i think more for PR reasons than actually worrying about firms' bottom lines), and subsequently raised it back up to $25, due to a combination of improved environment (i.e. PR hostility) and employees bitching.
either way, congrats, and kudos to you for taking initiatives.
have heard some banks bumping the limit up to ~$30 or more. anyone have an update on how much they get? and at which bank?
What led you to comment on a thread from 7 years ago?
$25 at my BB
I was searching for threads relating to perks and didn't want to create a new one
Well due to inflation and the commonly referred to 'Trump' bump, my bank's dinner stipend has increased from $25 in 2010 to $327 today.
Wow, goddamn. Enjoy your taco Bell dude.
"Incoming Analyst".... I'll be sure to leave a few soft shells for you, ask HR for them once you start
The dinner allowance and analyst camaraderie are about the only things I miss from my IB days.
30, based in SF
$25 - boutique in SF
$30 at my MM, been that way for at least 2 years.
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Friends from PwC and EY that I've talked to (just for point of reference) get $15 and $20 respectively. That's in a small market too (in the midwest, not Chi/NYC/DC/Phila)
One of my family members is an executive for an insurance firm on Wall Street and gets $75 for dinner. Didn't want to be too specific, but he also said it varies from city to city even if it is the same company.
any updated numbers on seamless per bank?
Interesting
not a bank but $40 in PE
$30 if at home office - MBB
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