Hi, a friend of mine was just hired for a upper management job which is in the real estate/finance area. he will be presenting the companies business seeking investments and representation from financial planners/broker dealers for a established company which owns projects across the USA. an almost 6 figure salary and comissions and a expense account. He has no office and will work from home and will be responsible for California. He is told he will also have to travel especially to the corporate office by plane. This is his first position as an hired employee and one with a expense account. How much do companies usually offer for a standard expense account in this type of profession monthly and how does the company expect you to use the account, and do they give you a company credit card? one with a with a limit? He is waiting for contracts to review and there was lack of conversation about details regarding the expense account and was told his expenses will be paid for?
There is no precise answer for your question. There is no such thing as a standard expense account. His company will pay the business expenses he incurs on behalf of the company. He will also be provided with some rules as to what is acceptable. For example, his company will pay for his airline tickets. They may pay for his meals while he is traveling, but not while he is at home. He may get a company credit card, or he may have to charge expenses on his own card and submit statements for reimbursement. He may be reimbursed for such as expenses as office supplies, but it is also possible that they expect him to provide those supplies as part of his personal office expense. He may be required to entertain clients, and the expense may be covered by his company, or he may be prohibited from incurring expenses such as entertainment and meals with clients.
Your friend should be careful not to abuse the expense account. It sounds like a nice job, but taking advantage of an expense account to pay for personal expenses can mean losing the job. |
