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HSBC's London bankers are complaining about their lost food allowance

HSBC may have kept its bankers happy with large bonuses for last year, but it is irking people in other ways. 

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Some London-based employees at the firm say the bank has effectively stopped paying food allowances to juniors while it undertakes office maintenance work that's expected to continue through to August 2024.

Whereas London bankers could previously receive a food allowance if they worked past 8pm, the maintenance work means that people are being asked to vacate the premises by 7.30pm. Free food is not on offer to people working outside the office, ergo while the office is being renovated, free food is no longer a thing. 

"We now have to arrange our own food whether we work until midnight or 2am," says one junior. "We have to spend an hour or two shopping and then try and chase the VPs and senior bankers when we're back."

The negated food allowance was seemingly worth up to £23 a night.  

HSBC didn't respond to a request to comment.  

Two other HSBC juniors confirmed the temporary predicament. However, one said different teams are differently impacted. Only the second floor of the building is being renovated, and this houses leveraged finance and debt and equity capital markets analysts and associates. M&A bankers can seemingly still expense their dinners. 

Photo by James Butterly on Unsplash

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AUTHORSarah Butcher Global Editor

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