2023-10-03 04:55:00
Margaux Fodéré / Photo credits: VOISIN / Phanie / Phanie via AFP
modified to
7:21 a.m., October 3, 2023
If you are one of the 80% of executives who do this, you have noticed that with inflation, expense reports are becoming more and more expensive. In 2023, 52% of executives spent more than 100 euros on expense reports per month, unprecedented according to an Ifop-Mooncard study. So much so that one in six executives has already been in a bank overdraft situation, or one million people.
“Where last year I might have between 800 and 900 euros in expense reports, today I am between 1200 and 1500 euros. It’s almost half of my salary” admits Camille at the microphone of Europe 1, who with her sales job invites customers to the restaurant several times a week. In addition to the increase in prices, the time for reimbursement of expense reports has lengthened in the company. A double punishment for Camille.
“I have to ask my mother to lend me money”
“Before I had of course small overdrafts, like everyone else, between 50 and 100 euros but at the end of the month. Today, when everything is paid – my personal expenses, expense reports etc – on the 10 for the month I’m at minus 400. So we’re not getting by at all.” Her employer was open to advances on expense reports, but the process is too complicated, Camille believes.
So she tries to limit the cost of her meetings even if that is not enough: “I have an overdraft authorization but it does not exceed 15 days, and as at the moment I do not have much working capital , at 31 years old I have to ask my mother to lend me 400 euros for just two weeks. To be able to fill the gap and not pay an agio due to the time it takes to reimburse the expense reports.
Like Camille, other executives have already found themselves overdrafted this year, a direct consequence of the rise in prices, explains Sylvain Montoro, the financial director of Mooncard: “mainly, the expense reports concern catering, transport and energy. These are items which have increased significantly in recent months and therefore naturally the expense reports have followed the same trend”.
And the phenomenon especially affects young executives who live outside the Paris region, because they pay a lot of fuel costs.
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