What are your perks?

Inspired by a thread I saw on IB asking for what dinner budget was. Understand that there is a bit more nuance perhaps in the PE space so curious to what you guys are seeing. I'll start - at a MF:

  • $30 dinner budget, all days of week. Weekends have to clock in time but pretty lax there

  • Unlimited Uber/ridesharing after work

  • No fitness budget/mo sadly

  • No free swag (no jacket/vest/bag)

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Comments (91)

  • Analyst 1 in IB - Gen
Sep 9, 2021 - 6:37pm

DB, $25 meal stipend, standard swag stuff (bag, water bottle, etc…), but the best is the free legal services!

  • Associate 2 in PE - LBOs
Sep 9, 2021 - 9:40pm

MF PE

~$35 for dinner stipend during week after 8 PM or if working more than 4 hours in a day on a weekend, must be in office

Free catered breakfast / lunch / coffee in office

Car ride home after 9 PM, on weekend can to do and from the office

Think we have a fitness stipend of $800 annually but you have to prove going to the gym x times per 6 months or something like that (honestly haven't looked far enough into it since it's complicated)

Business class travel if flying >2 hours

  • Intern in PE - LBOs
Sep 9, 2021 - 10:21pm

Insane that they ask you to prove how many times you go to the gym for the fitness stipend. I bet the woke fat crowd or whatever would really take offense to that. "Everyone progresses at their own level" or "everyone works out in different ways". 

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  • Associate 1 in PE - LBOs
Sep 10, 2021 - 1:53am

Free catered breakfast/lunch? Man. That's awesome. Business class free upgrade is nice too. 

Sep 10, 2021 - 2:44am

UMM consultant friendly fund 

1) Dinner budget of $50 if in office past 8pm

2) No transportation reimbursed for home

3) Monthly stipend of $1500 (taxable) for tech/food/anything else

4) All business class travel for flights >2 hours

5) Reimbursed subscription to all major business news periodicals 

  • Associate 1 in PE - LBOs
Sep 10, 2021 - 4:06am

UMM 

1) Dinner $50 max after 7pm

2) All business class regardless of hours

3) Phone bill paid 

4) Uber/taxi after 9pm

Sounds about it 

Most Helpful
  • Associate 2 in PE - LBOs
Sep 10, 2021 - 4:14am

UMM PE

1) $40 dinner stipend if you are working past 7 PM (pre-COVID) but now past 5 PM

2) Ubers to and from the office are free after 7 PM

3) In-house kitchen staff that prepares lunch on weekdays. Basic breakfast (cereal, bagels, English muffins, etc.) usually there but sometimes they'll make breakfast as well. Lot of snacks and drinks.

4) Small gym within the office with a fitness instructor who teaches classes 3x a week

5) Business class travel if flying >2 hours (sometimes take corporate jet, think usage has increased post-COVID)

6) Good amount of free swag (pullover, spring jacket, raincoat, vest, duffel bag, YETI water bottle, etc.)

7) Rental car discounts

8) Co-invest opportunities (capped $ amount per deal but fairly generous)

9) ~15 hours of free MBA admissions consulting and $1,000 or $1,500 toward GMAT prep materials and classes

EDIT: We also have a monthly social budget for associate outings and an annual associate ski trip (travel / lodging / tickets / equipment fully covered for associates and plus ones)

Definitely a massive upgrade over banking with respect to perks

  • Intern in IB - Cov
Sep 15, 2021 - 10:49am

Is this Bain?

Sep 16, 2021 - 8:04pm

Incredible. Seeing the MBA consultant / GMAT budget are you guys a 2yr and out program?

  • Principal in PE - LBOs
Sep 10, 2021 - 12:12pm

MM Fund (~$1.5Bn fund size)
 

- No formal dinner budget (effectively $50 though because you need a receipt for anything above that and it's just sort of a pain to go through that whole process)

- First class everywhere (usually take the jet if traveling with a partner)

- $1000/person annual budget for bonding events at each level (associates, VP//principles, admin staff). You can also expense random HH / dinner events outside of this budget  

- $1000/year for general wellness (very loosely defined but can include gym, personal training, home fitness equipment,  massages, masterclass, etc.)

- Other things: very good health/dental/vision coverage that is completely paid for, cell phone and home internet covered, Ubers to office/home are covered 

  • Analyst 1 in IB - Cov
Sep 12, 2021 - 7:15pm

Do those who work at some of the firms with great perks also have good comp?

  • Works at McKinsey and Co
Sep 16, 2021 - 4:45am

My GE firm has some truly amazing perks (see my detailed answer below), along with $500k cash comp + deal carry (which usually adds up to more than my base each year) + fund carry for 1st year post-MBA senior associates, and most importantly very solid WLB relatively speaking (50-60h, barely ever any weekend work)

  • Associate 1 in PE - LBOs
Sep 12, 2021 - 7:25pm

are there any real risks / downsides to disclosing the name of firm if posting anon? would be cool to be able to compare perks

  • Associate 2 in PE - LBOs
Sep 15, 2021 - 10:31am

MM PE ($700M fund)

- Free lunch: Doordash link sent around everyday 

- No transportation stipends (Office in the suburbs)

- First class travel on all flights 

- No health stipend

- Great WLB 

  • Works at McKinsey and Co
Sep 15, 2021 - 12:03pm

Top GE:

  • ~$1000 p.m. "food" budget on corporate card to use on anything from groceries to drinks
  • Uber from office post 7pm
  • Gym in office with classes (though not during COVID)
  • Non-strict budget for whatever team outing we do
  • Monthly free swag allowance
  • Really good health insurance (on par with MBB)
  • Deal carry on every deal you're involved with on top of the fund carry
  • Cash comp in line with MF PE, with pretty good WLB (definitely better than MBB)
  • A bunch of other smaller cool perks (e.g., wellness apps, streaming/newspapers subscriptions etc.)
  • Associate 2 in PE - Other
Sep 16, 2021 - 11:24am

MMPE

Co-invest with fund-provided leverage

Free breakfast, lunch, and dinner (no price limit, just "be reasonable")

Free transportation to/from office

Regular team outings at partners' properties (ski trips in Aspen, summer days in the Hamptons, golf at highly exclusive clubs, etc)

$300 per month to spend on social, professional, or fitness memberships (Equinox, SoHo House, etc)

Flexible spending on the corporate card if at least 4 team members are present (again, "just be reasonable")

First class travel on flights over 2 hours

No limit on hotel budget (same as above)

  • Associate 1 in HF - Event
Sep 16, 2021 - 11:29am

$50bn AUM credit- and real estate-focused firm

- $20 seamless lunch when in-office (select from a rotation of 5-6 restaurants per day shared across the firm)

- $25 for dinner when working past 8pm (also in-office only)

- Ubers if leaving office after 8pm

- $55/month for cell service

- $1000/year (taxable) for gym membership/outdoor recreation (eg ski tickets)/etc, plus large discounts at a few luxury gym chains

- Business travel for flights over 3 hours

- Annual 3-5 day international team outing (at least pre-COVID)

- Very good health, dental, vision insurance (or at least better than I had at BB IB)

  • Analyst 2 in IB-M&A
Oct 13, 2021 - 12:40pm

Dude why do you keep asking this question. Business and personal flights are mutually exclusive. This has been established numerous times at this point. 

Sep 26, 2021 - 5:48am

For me it was $50 dinner budget and rides home (I'd often do rides to the office too with no opposition). Otherwise perks were pretty light compared to banking though we never thought anything of it.

  • 1
  • Associate 1 in RE - Comm
Oct 8, 2021 - 11:51am

MF RE (work under an extremely lax MD)

No time cutoff or budget for dinner expense, but keep it reasonable so really anything under $35 is usually fine and after 8pm is what ill draw the line for myself

Generally can call a car if I'm in past 10 or so

Free office wide lunch one day a week

$1k year gym stipend; apple watch / fitness tracker stipend

All expenses covered during travel (usually ~5-10 days a month?) First class > 4hr flights; jet for weird places if commercial is a pain

  • Associate 3 in PE - Other
Oct 9, 2021 - 9:12am

$100bn + AuM firm in NY.

Pay  - sub 200k TC in NY for top bucket Y1 associates in 2020 with a portion of bonus paid out in stock with three year vest.

$10 - daily lunch stipend only if in office and only through Seamless.

$10 - dinner stipend if you stay past 930 only if in office.  Need to expense individually through expense tool.

Ubers home after 9:30. Need to do expense individually through tool. 

Economy / basic economy flying if travelling for work unless international then allowance of 200 to "upgrade" if you want.  Can fly private if you own said jet and pay for fuel.

Cabs to airport not allowed in certain international offices

$60 / quarter fitness stipend. 

"fun office and team events"  

Annual ski trip that you pay for lift tickets, lodging, and travel there. Company pays for a dinner when you are there. 

25 days of vacation.

No WFH tech stipend. 

Got two waterbottles, a vest, and a gym bag.  

100% back in office in July.

Can list private equity associate in hinge profile.

  • Associate 1 in PE - LBOs
Oct 9, 2021 - 2:06pm

this is rougher than my lmm firm lol. hopefully the hours dont suck at least!

  • Analyst 1 in IB - Gen
Oct 9, 2021 - 7:55pm

What kind of garbage firm is this? $10 for dinner in NY?

No cab to airport - will they expense a bus ticket to the nearest bus station instead then??

  • Consultant in Consulting
Oct 12, 2021 - 8:07am

Leading industry-specialized boutique:

  • $600 annual health and wellness budget
  • $250 WFH IT stipend
  • $25 meal allowance when working after 8PM and Uber home
  • $20 monthly coffee budget
  • 1 extra day off if you've worked 60h weeks for a couple of weeks in a row or 75h in a single week
  • Monthly budget for social events and huge budget for larger more infrequent events (e.g., $30K for Christmas party and there's 15 of us in the local office)
  • MBA admission consulting + MBA sponsorship (2 year post-MBA stay clause)
  • Annual company trips
  • Merch (water bottle, vest, branded notepad etc.)
  • Prospect in IB-M&A
Oct 13, 2021 - 2:03am

Any MFs/UMMs offer MBA sponsorship (tuition reimbursement) for Associates like MBB in consulting do? Seems like a crazy deal where you basically have top mba program paid for and a guaranteed job after?

  • Associate 2 in PE - LBOs
Oct 13, 2021 - 1:00pm

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  • Associate 2 in PE - LBOs
Oct 14, 2021 - 8:55am

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  • Analyst 3+ in IB - Cov
Oct 15, 2021 - 9:05am

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