2012 Wall Street Bonuses, Here's An App For That!O
So I came across a post in the forums by Thagoodlife titled, 2012 / 2013 Investment Banking Bonuses and wondered, wouldn’t it be great if there was a way to compare IB comp with your alma mater, WS colleagues, or the world? This past week employees of and received their 2012 comp but as either of their employees wouldn’t it be nice to see how their comp ranks against or employees? Well it turns out that last weekend William Wright of Financial News tweeted about a developer calling themselves nEuroRecovery, created an iPhone app that does exactly these things! Read on to get a brief overview of what it does and where to get it…
Simply enter your bonus, location, position, years of experience, division and your bank (optional), and your bonus will automatically appear on the League Table.”
These are the words by the developer in describing how to use their app, Banker’s Bonus 2013.
Aside from that, it's pretty much it besides a few other simple features like…
• The ability to enter an amount and see how it ranks globally
• Comparisons by location, position, experience, and division
• A global league table similar to the FT IB one
Given it' simplicity, would you WS monkeys find this app useful or not?
The primary concern mentioned by William Alden of DealB%k is that is there no verification process for submissions. So it’s entirely possible for bogus, inflated, deflated, or generally misleading figures.
Further, it seems that the developer is a European by mention about the possibility of EU comp caps. This statement though might explain why there are two, 1-star reviews on iTunes (see the bottom of the page here) and perhaps this app may have a compatibility issue with American iPhones if it was developed there.
Also, I don’t think the price point is in-sync with successful app-pricing models like that of Angry Birds or a traditional price of $.99. I think it has to show a lot more value than what it is for $11.99.
What is a fair valuation for this app and how could you model it?
In my opinion, I think such anonymous information disclosure can be beneficial to both IB and . It can bring to light competing by firms for similar positions in IB. Also it serves as it can bring stronger candidates to IB positions and become marginally more efficient at allocating comp to better-than-prevous employees. In other words, the disclosure of profits can motivate the most talented and driven to firms who pay higher for the same positions, ending in a win-win situation.
Do you think this could become a viral app among WS, why?
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