'Kiss & Tell' - What Kind Of Advance Would You Get For A Book About Your Firm ?

Book And Globe

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.

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