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Pro: It Saves You Money/You Will Probably Drink Nicer Booze than Usual
The nice thing about office drinking—perhaps the nicest?—is that you usually are not buying your own drinks. It's usually put on a company card or something and so you can, as Virginia Smith mentions, "pre-game" by drinking at work before going out, thus saving you a lot of money. Virginia also notes that when your boss is buying drinks, he or she usually buys much nicer stuff than you could usually afford to buy. The benefits of this do not need to be explained.