1/20/13

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 GS and MS received their 2012 comp but as either of their employees wouldn't it be nice to see how their comp ranks against UBS or DB 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...



FEATURES

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?


Banker's Bonus 2013 App Screenshot



SHORTCOMINGS
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?


OPINIONS
In my opinion, I think such anonymous information disclosure can be beneficial to both IB and BB. It can bring to light competing comps by firms for similar positions in IB. Also it serves BB 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?

Comments (16)

1/20/13

No. The lack of verification makes it essentially worthless.

2/7/13

Asatar:
No. The lack of verification makes it essentially worthless.

How would you envisage the verification process? Would you be happy to give your work email? As far as i know banks got pretty good surveillance of email correspondence coming in or out of their servers.
1/20/13

Hey guys, my bonus this year was $4.8 million.

1/20/13

newfirstyear:
Hey guys, my bonus this year was $4.8 million.

Well, according do that sweet app, you are being underplayed by about $995MM!

Anybody else find it fishy that a "director" of 14 yrs experience spelled "City Group" incorrectly?

1/20/13

That is why he is just a "director"

1/20/13

Reviews from the App Store are saying that this a fraud... it's $11.99 folks

1/20/13

Idiotic.

1/20/13

if anyone can download and use it, I wouldn't bother

How big is yours?

1/20/13

I can't believe this post made it to the top of my WSO front page. This is retarded!

1/24/13

Thank you all for your opinions and just maybe others will see this post and will save them the $11.99 for a NYC burger instead. With such a high price, poor reviews, and no verification process you monkey's really threw the poop at this app and I'm not going to argue! The only reservation I have is this comment...

Reader54:
I can't believe this post made it to the top of my WSO front page. This is retarded!"

At least seven others seem to find it interesting enough and positively commented. So then explain to us what's so retarded about reporting to WSO on a new app (that's been out for a week) that calculates WS bonuses?

Who Am I? | See what GMngmt is all about at About.Me

2/7/13

Hmm it looks like they dropped the price to PS4.99.. Now even RBS guys can afford it ;)

2/7/13

stay tuned for the 2013 WSO Compensation Report coming out in a few weeks... it should put this app and others like it to shame.

2/13/13

WallStreetOasis.com:
stay tuned for the 2013 WSO Compensation Report coming out in a few weeks... it should put this app and others like it to shame.

Sound good, but from what i can see WSO doesn't verify their data entries either

2/13/13

Sunaina:
WallStreetOasis.com:
stay tuned for the 2013 WSO Compensation Report coming out in a few weeks... it should put this app and others like it to shame.

Sound good, but from what i can see WSO doesn't verify their data entries either

No, we don't verify the entries but we do have contacts into most of the banks that can verify many of the ranges... and we do scrutinize every single entry that is made to ensure it is in this reasonable range or that the interview insights are realistic

Most of the people that fake it make it very obvious (for example, those trying to hit the character limit just type in something repeatedly just to gain access before we read it, block thier account, etc)...so while not a perfect system, we believe people adding to the database have very little incentive to lie since it's anonymous anyways.

2/7/13

This post made me curious so I downloaded the app.. What's odd is that I do not see this 99999999 bonus on the top of the list... instead there are a lot of "hidden" bonuses at the bottom of it.. I presume these are false entries... So maybe there is some kind of verification process after all.

WallStreet Prep Master Financial Modeling