Former Goldman VP Greg Smith is said to have bagged a $1.5m advance to expand his New York Times OpEd into a fully-fledged book (out next month). We wondered how much a similar level employee would get for a 'kiss and tell' expose at other firms.
Here's our best estimates:
The truth is, it's the general public's fasination with Goldman which places such a high value on Smith's story, and no other firm employee is likely to come anywhere close to obtaining a $1.5m advance for writing something similar.
However, there's still money to be made if you work / worked at one of the firms detailed below, have an interesting story / expose to tell, and are willing to take on the lawyers in a bid to get published (not recommended).
Anyway, here's our list:
Barclays - $250,000
Lehman Brothers - $250,000
JPMorgan - $200,000 (if you worked closely with senior executives, were involved in the Bear Stearns transaction and had a front row seat at the time Lehman collapsed)
Merrill Lynch - $200,000 (if you were able to detail exactly what was going on in the lead-up to the financial crisis, cover John Thain's tenure as CEO and the 2008 sale to Bank of America)
UBS - $200,000 (if it gave an insider's account of last year's rogue trading scandal)
Bank of America - $100,000 (if you had some entertaining things to say about Ken Lewis and his management team, and had a seat at the table when the Merrill Lynch losses started to pile up)
Bear Stearns - $100,000
Royal Bank of Scotland - $100,000 (provided you were able to reveal stuff about Fred Goodwin and his management team, the ABN AMRO deal, and the collapse of the firm)
Cantor Fitzerald - $80,000
HSBC - $80,000
Morgan Stanley - $80,000
Lazard - $75,000
Citi - $70,000
ICAP - $70,000
Standard Chartered - $70,000
Credit Suisse - $50,000
Deutsche Bank - $40,000
Nomura - $40,000
And the rest ? Probably a big fat zero.