I've done the "let's get coffee/lunch" thing 25-50 times. Maybe once or twice I've paid on my own (usually w/ 1st yr analysts who probably didn't know shit from dick). The people I've lunched with almost always offer to pay (I'm pretty sure most banks let their bankers expense this).

 

If the employer offers to pay for the lunch, take it, especially if he's the one who set up the lunch meeting.

Also, if he's buying, make sure your meal costs less than his does.

 

If a banker suggests meeting over food, they will offer to pay and will expense it to the firm. This is assuming that you're not meeting with a 1st year analyst as the OP says.

 

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