The highest meal allowances in banking are probably not at Citi or Deutsche Bank
If you’re going to work in banking, you’re going to work long hours. That’s just part of the job. Luckily, if you’re in the office past a certain time, the bank will feed you. Or at the very least, give you some money to feed yourself. How much money you get can vary quite significantly depending on where you work, however.
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A recent report by finance influencer Litquidity makes these variations clear. Based on over 2,000 responses from within the industry, it says the highest dinner stipends on Wall Street are at boutique bank Centerview Partners. Centerview apparently offers its people up to $60 per meal. The figures in the report are not verified by the banks in question.
Centerview's alleged allowance is extremely substantial, covering pretty much any meal within delivery distance of its Midtown office. For example, a Centerview banker might order themselves a “Prime Hand Rubbed Marinated Beef Rib,” from local Korean barbeque place “Rib No.7”.
Elsewhere, bankers are going hungry. Litquidity's figures suggest that the two lowest banking meal allowances were at Citi and Deutsche Bank. Deutsche Bank already has the lowest allowance in London. Last time we checked, it was only offering UK employees £19 ($24) to spend on dinner. In New York, Litquidity's figures suggest that both Deutsche and Citi offer $25 stipends to late-workers.
Deutsche Bank’s location on the Upper West Side might offer a few more options at the alleged $25 limit than Citi in Tribeca. Deutsche Bank's employees could order a “Chicken BLT Sandwich” at Match 65 Brasserie, but would not be able to afford the restaurant’s “Grilled Organic Chicken Paillard”.
Citi bankers would be able to order a “Crocchette di Patate” or “Calamari all Griglia” from nearby Italian eatery Piccola Cucina Estiatorio.
The above exceptions aside, Litquidity's figures suggest that stipends are between $30 and $40 for bankers in the US. Both UBS and Goldman Sachs offered the same $30 allowance. It's worth stressing again that the figures are not verified by the banks themselves.
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