I do tech investing, although as a manager of the fund I also have a hand in crafting our expense policy, which we try to make comparable with our peers. We are competing for talent after all...
Policy is business for everyone on trips beyond a certain number of hours. Economy otherwise. You are welcome to upgrade to a higher class at your own cost, or fly a higher class if it's roughly the same price or cheaper. Since we book so closed in to our travel, prices between F and J tend to narrow quite a bit.
When creating our policy, I was very much opposed to tiering by rank. But it's easy for us to maintain a universal policy, as we are a very small operation by headcount. If we had greater than 50 employees, I think some level of segmentation would be warranted. And many of our peers offer private jet usage for general partners. I felt like giving a universal policy that applies to all of our employees was a trade off for not permitting private jets.