Her CLSA colleague Kelly Wong typically takes clients to a sporting event, show or dinner and drinks about two or three times a week. She has also started taking them to spin events.  Read MoreWatch out! Jobs that are in danger of disappearing  "I plan to do in the future a Barry's bootcamp and a CrossFit event," said Wong, whose clients are often grateful for the opportunity to incorporate fitness into their busy workdays.  Flywheel Sports co-founder and CEO Jay Galuzzo is accommodating more Wall Street events than ever at his Manhattan locations.  "We have seen it from our very first studio opening," said Galluzzo, who debuted his first high-tech spin studio in the Flatiron District in 2010. "It was really Wall Street salespeople bringing in three, four or five clients to an evening class in lieu of the business dinner or drinks. We have seen that increase everywhere in the past few years."  After the classes, he sees many business partners and their clients discussing work in the facility's common area which is stocked with fresh fruit and water.  "You take a class and it's an icebreaker with the client," said Galluzzo, who doesn't believe a hard, sweaty workout would be a turn-off to doing business.  Read MoreThe best and worst cities to start a career  But what if you're drenched in water? Or mud?  It appears Tough Mudders events are also becoming a top destination for firms who are trying to grow their business relationships.  At the events, participants run a 10- to 12-mile race which includes climbing over walls, jumping through 80,000 pounds of ice and water and sprinting through dangling wires charged with 10,000 volts of electricity.  Not only are more companies such as Bank of America and UnderArmour doing team-building at corporate events there, more clients are coming, too, Alex Patterson, Tough Mudder's vice president of brand, said. In fact, corporate sales last year surged by 800 percent.  "It's the new way to do business," Patterson said. "It is a little uncomfortable. But, that is what breaks down the barriers. You are getting to know someone. You are literally shoving people over a wall."  Read MoreThink you have the worst job? Check the list  Brian Epstein has been shoved over a wall, run through mud and shocked by electricity.  The 28-year-old who works in the audio visual industry has done a few Tough Mudder races with friends and even has a tattoo commemorating his participation. Tough Mudders are, according to the company's web site, "hardcore" 10- to 12-mile obstacle races designed by British Special Forces "to challenge the toughest of the tough."  "I like the camaraderie," said Epstein, of Atlanta. "I would be more inclined to do business with someone who would do this with me. It would show the willingness of the person to step outside their comfort zone."  Epstein doesn't think getting sweaty or muddy in front of potential clients is relevant anymore as the need for work-life balance grows in corporate America.  "I think it shows the ability to work cooperatively and it could even show you the inward personality of someone you are working with based on their desire to help out other members that may not be part of the team," Epstein added.  Not everyone thinks it's such a great idea.  Read MoreThese college majors will get you a job ...  Austen Shantz, who has completed a Tough Mudder, said he would never ask a client to do the race with him.  He said that it could be embarrassing if you don't complete the race or get injured—which he saw a lot in his last race.  And, this could sabotage a business relationship before it even gets off the ground.  "Physical performance and physical activity carries a certain amount of humility and bravery to a certain extent, " said Shantz, 29, an IT business analyst also from Atlanta. "It is something that is so long and taxing on the human body. And, it could break you down a lot. I wouldn't want a potential client to see this."
Wall Street is starting to take more clients and business partners Tough Mudders and spin classes in lieu of just dinner and drinks.