I WILL pay for your coffee/lunch!

I feel like this is the most basic question ever, but it's a problem I am constantly having. People are always paying for meals/coffee with me, even if I reach out to them for a meeting or informational interview. Even when I set the precedent that I'll be taking you out for lunch... etc. When it comes time to pay people make a big fuss about the check and won't let me near it. I make it clear that I applicate they took the time to meet with me, and that I am more than happy to cover the bill, but they almost take it personally that I won't let them pay. In the end I always give in because it gets to be ridiculous and I don't want to end the meeting on a bad note.

Any advice out there on how to overcome this or should I just shut up and enjoy the free ride?

 

You mean: as a student going for a meal/coffee with somebody working in XYZ industry? It's pretty normal, especially since student life in the US (and elsewhere, to some extent) usually involves being low on money. Just pay it forward when you're on the other side of the table.

 

General rule: The more senior person pays. If you're a student and you're networking with an Analyst, Analyst will usually pay. If you're an Analyst going with an MD, MD will usually pay. If you're going with me, you're paying because I have a scorpion in my pocket.

I'm talking about liquid. Rich enough to have your own jet. Rich enough not to waste time. Fifty, a hundred million dollars, buddy. A player. Or nothing. See my Blog & AMA
 

This. But keep doing what you are doing, and always offer to pay. The more senior person will offer 99% of the time, just make sure you take an action showing you are trying to pay. No one likes a leech.

...
 
Best Response
studentsa:

As a female I never even offer to pay it's always bought for me

you're the one being bought, sweetheart
heister: Look at all these wannabe richies hating on an expensive salad. https://arthuxtable.com/
 

UP, UP, UP!!!

GoldenCinderblock: "I keep spending all my money on exotic fish so my armor sucks. Is it possible to romance multiple females? I got with the blue chick so far but I am also interested in the electronic chick and the face mask chick."
 
Tchyk:
Any advice out there on how to overcome this or should I just shut up and enjoy the free ride?

Please shut up and appreciate their generosity.

I swear, people on this site and social skills are like oil and water

Commercial Real Estate Developer
 

i think the greatest payment that you can make to them is > to make it worth while for them to come out to see you and advise you > the last thing i want is > waste my time > then this kid do exactly the opposite of what i suggested

if you were smart > someone paying coffee for you is a good thing > they pay money for you > they are emotionally invested in you > they take time to talk to you > they are more invested in you > you listen to their advice + meet the people that they introduce > they are more invested in you > keep doing this + being pleasant > they will just start hiring you at their firms when time comes

net net > people being invested in you > both emotionally and financially is a good thing > because they will want you to succeed > which is what you want anyway

and don't be a dick > you are not that rich > imagine that you have to meet people for coffee + drinks > assuming average you need to pay US$20 for yourself + the other person > 20 x 800 > US$ 16,000 > 800 > assuming you only meet 200 people per year > during 4 years of college > 200/365 > only 1 new person every other day

 

I almost feel as though it's more awkward to even offer to pay as the more junior person. I can see how it could be insulting to an MD, etc

If I was the more senior person all I would expect is gratification for my time and meal, offering to pay IMO can look worse than just being grateful and thanking them... ESPECIALLY if they are using a corporate card..

Trying to argue that you want to pay (IE - making a second/third counter-offer) probably looks the most toolish of all. Don't argue with the person being nice enough to give you their time.

twitter: @StoicTrader1 instagram: @StoicTrader1
 

I'd say you gotta at least make the offer, you don't want to come off as a douche like you expect them to pay (even though they probably want to). A quick, "Can I grab your coffee?" should do just fine. Don't overthink things, try to be a human with a personality in these situations and they usually work out

 

I'm not on here all that often but this is the second time I've seen this question, if it's not obvious than I feel you probably lack the soft skills to go far..

If I go for coffee with someone more senior I'll reach for my wallet to show that I'm willing to pay but they have always more or less explicitly told me that it's on them, which is what I would expect but the gesture is polite. DO NOT insist on paying once they've offered, it makes the situation awkward, just accept their generosity and thank them.

As a first year analyst I'll pay when I'm with a student.

If it's someone on the same level I would say it's the one who initiated the 'meeting' who should pay.

 

Nemo culpa inventore vel assumenda. Tempora eos cumque quod sapiente adipisci. Repellat ea in sint. Neque veniam ut in cumque voluptas illo aut. Molestiae unde voluptatibus provident delectus pariatur. Placeat provident deleniti qui pariatur mollitia quia. Non nihil qui est qui dolorem.

Eum molestiae illo at et praesentium necessitatibus autem consequatur. Voluptatem voluptas reprehenderit quidem quia officiis. Quas amet error deleniti praesentium possimus nisi nostrum. Nemo nemo dolorum eos. Facere beatae illo nihil.

 

Necessitatibus quasi iusto sunt ducimus. Mollitia officiis non et maxime. Consequatur minima corrupti tempore cumque nesciunt animi. Minima est placeat repudiandae voluptas quia.

Qui voluptas esse dolor totam aperiam voluptates magni. Voluptatibus eligendi omnis quia molestiae et corporis doloribus. Consequuntur sit provident ducimus dignissimos nam maiores repudiandae. Aut sed suscipit labore. Consequatur quas aut ut autem.

Dolorem in assumenda deleniti est vel alias quasi. Dolor et nisi dicta maxime inventore voluptatem eum. Sunt nostrum quidem expedita aut nostrum.

Career Advancement Opportunities

April 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. New 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

April 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

April 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

April 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (145) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Betsy Massar's picture
Betsy Massar
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
Secyh62's picture
Secyh62
99.0
5
GameTheory's picture
GameTheory
98.9
6
kanon's picture
kanon
98.9
7
CompBanker's picture
CompBanker
98.9
8
dosk17's picture
dosk17
98.9
9
numi's picture
numi
98.8
10
bolo up's picture
bolo up
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”