Would you use an app that shows how your cash bonus ranked vs peers, with the full range?
The app verifies cash bonuses received into your bank account and then allows you to rank based on IB, team, and level e.g. "You are the 3rd highest earning Analyst 3 at JPM in FIG"
The data is live for every pay cheque and show all the verified amounts e.g. #1: $130,000, #2: $125,000,...., #20: $52,000. Obviously excludes unrealized equity and other deductions.
Based on my old team's tradition of writing our bonus numbers on little pieces of paper, putting them in a hat, and then laying them out so everyone could see the range. No one knew whose numbers were whose - but you knew where you ranked.
We're looking for NYC based founder members to help launch before 2024 Bonus season in Q1 25 (and have cool merch to give away too)
ignorance is piss
Never happened.
Lol don't underestimate the power of Desperation + Tequila
Cringe and you know it
Ouch. Sounds like someone doesn't get invited to beers...
I got forced to do the “hat reveal” game. Even though it was supposed to honest I’m pretty sure everyone still added $$$ onto their number. Less BS in PE but we do something similar.
What's the incentive to be dishonest if it is anonymous?
Fuck with everyone else's mind.
Hell yeah!
Nothing worse than getting screwed by the MD...
Is the app live, where do I sign up?
I don't think anyone would do this
70% interested... but your right it's a big jump to actually use it.
What would make you want it? Or is it just not for you?
Such an app would probably appeal to analysts and associates. I'm not fully aware of VP level comp in the US but here in the UK, anything over £250k is deferred in stock so if you were on a £200k base and got a £250k bonus, only £50k of that bonus would hit your account (post tax). I like the idea, however I have no doubt banks would use any means possible to try to shut it down and penalize employees they found out had posted comp info, hence you would have to have water tight data security in place.
100% agree. Once comp shifts to equity it's impossible to compare without self attesting, which is exactly what we want to avoid. Equity vesting and being paid out in cash would be captured but you are 1, 2 or more years behind the curve.
Also at a Junior level it's more easy to jump firm or even team if you think you are too underpaid.
Tokenised security and the new bank APIs are what make this possible. Anything else just wouldnt be secure enough. We full expect to get banned...
Waitlist is live on joinrankedDotcom
Still slots for Founder member meet ups on Thurs 24th and Friday 25th in NYC...
Merch has landed.
The verifying bank stuff won’t be well received, but this could get some traction although prob not enough to warrant building something for it (unless just a side project).
BofA AN1 gonna get 15k and be #1 across all groups
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