How Much Do Bankers Make?

Online, May 29, 2013 (Newswire.com) - Over 5,700 professionals from 1,000+ institutions in 54 countries have already contributed their salary data.

The Story
Emolument was started in 2012 by Olivier Beau de Lomenie and Thomas Drewry. In 2011, Thomas, who had been a financial services head-hunter for 11 years, suddenly realised the absence of reliable market data on bonuses and salaries: both clients and candidates would be asking him constantly to help them with remuneration figures but the information he could provide was based on a small sample and therefore anecdotal. So he approached Olivier, a former classmate, about building an online platform that would allow professionals, originally in banking & finance, to contribute their data anonymously. In return, users would have free access to aggregated market results broken down by title, location and sector. Emolument was launched in October 2012 and is on a mission to provide greater transparency about what professionals really earn and to help them make more informed career decisions.

Where does the data come from?
Directly from professionals. In line with our free 'contribute-to-consume' model, professionals enter their own data before being given full access to Emolument reports.

How do you keep the data reliable?
Upon submission, new entries are automatically queued in order to be individually reviewed by our specially trained team of experts. They benchmark each entry against sets of existing Emolument data, and scan them for inconsistencies; should they not pass our stringent examination process, they are immediately terminated.

How relevant is the data?
We define every job category very precisely and carefully with the help of industry insiders. Professionals wishing to contribute are able to find their job descriptions with ease, drilling down to a highly granular combination of activity, location and title which is entirely relevant to them. This in turn allows us to compute statistics with unparalleled relevance too. We are constantly refining our categories and we welcome any feedback and comments on how to further improve them.

How up to date is the data?
Emolument reports are live: they are instantly updated as soon as a new contribution is validated and released into the database. Moreover, reports can be filtered by year should users wish to view only the most current statistics. New entries into any particular report can also be flagged by email alerts, allowing users to browse the most up-to-date data as soon as it is available.

Is Emolument really anonymous?
Absolutely. There is no link whatsoever between contributions and specific email addresses, thereby ensuring complete anonymity. Individual entries will never be passed on to a third party, in line with the Data Protection Act 1998. And employers' names will not appear in job reports until 10 individual contributions have been validated.

Contact us:
Alice Leguay ([email protected])