DB ER?
How’s the rep here, been seeing they’ve been hiring a good amount in the past year and expanding coverage. Anyone have any info?
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Based on the most helpful WSO content, Deutsche Bank's Equity Research (ER) division has been undergoing some changes and expansion in recent years. While there isn't specific mention of DB's ER reputation in the provided knowledge base, DB overall is still considered a reputable BB (Bulge Bracket) bank with strong alumni networks and solid groups in areas like LevFin, loan capital markets, and real estate operations.
If DB's ER team is expanding coverage and hiring, it could signal a strategic push to strengthen this division. However, as with any role, the experience will heavily depend on the specific team, leadership, and the bank's broader strategy. If you're considering a role there, it might be worth reaching out to current or former employees to get a clearer picture of the culture and opportunities within the ER division.
Sources: Honest Opinions on Deutsche Bank, DB the only BB not to give full summer pay for interns, Bulge Bracket ER Q&A, efc: Research analysts are the cockroaches of investment banking, Is it really THAT bad with Deutsche Bank & UBS?
Clown fiesta.
ER is total different space in terms of how good a bank is. Will really depend on the analyst that leads the vertical/sector you’re joining.
Really small lol, I didn't see anyone expand coverage at all but not looking hard enough. They have 2 II ranked people (not that II is a sole determinant of success) but overall small presence as DB hasn't been doing great on the IB front either which means they really can't expand ER.
What do you mean IB not doing well so they can’t expand ER? One of the primary ways big banks with struggling banking revenues can try to change that is by hiring research guys who can try to make relationships through coverage.
That being said, there’s really no generalizations to be had about ER franchises overall; it’s highly sector and analyst dependent
What sectors are the ranked analysts?
I work there. Will keep it pretty balanced.
Like every shop really depends on the analyst — there are analysts in my sector at “tier 1 shops” that are worshipped on here that are objectively dumb and I wouldn’t take an offer from them even if I got a raise as well. I love my analyst and my team and wouldn’t be interested in going anywhere else on the sellside.
Ive gotten plenty of looks from buyside / believe i was on the cusp of getting a p72 offer (10+ interviews, 3 case studies) until liberation day happened/was told pod was no longer hiring…and there’s plenty of colleagues who have exited well.
Overall culture is very good among associates — substantially better than other shops based on what I’ve heard from others. Haven’t worked anywhere else but can genuinely say that while I’m not best friends with everyone, I don’t dislike any of the associates here.
Working for DB outside of ER sucks. Super bureaucratic — can’t express how much I despise HR and compliance. tho not sure how different that is from other banks. Obviously you also need to prep yourself for your buddies dogging you for working for a bank that literally always seems to be involved in some kind of fraud, but I lean into it / all you can do is laugh lol
Have concerns with the business model (charging for research directly) as I think it’s a structural loser. There has been a flight of lots of top talent recently / promotion of juniors that has supported this thesis. But im not planning on retiring here so not overly concerned on LT prospects.
In terms of bad analysts to work for that i would try to avoid (Justin in tools, ben and Lee in internet, Lauren in restaurants, tayo in reits), all the other lead analysts are nice / good to work for i think.
Will quickly add that you can’t look at II as a proxy for success at DB. Since we are charging for research it’s virtually impossible to rank in II and it’s not a priority whatsoever for management.
DB really only cares abt clients that pay us aka mostly the pods and some larger LOs and SMs.
In order to rank in II getting votes from the above name brands isn’t enough — you need to get votes from places like the teachers pension fund in Ohio. Other ER shops will offer them research for free in exchange for votes — DB doesn’t do this, so very hard to rank if you’re not already a name brand / passively get votes from ppl when your name/research was pushed at other shops.
Obviously just one example (maybe this is my bias coming in as my team doesn’t rank in II) but I can go on a 30 min rant on why II is a really bad metric for quality of work. The top II ranked analyst in my sector has a double digit IQ, which is a sentiment shared by clients we talk to regularly.
Know one of these analysts well and concur with the above. Be careful.
Who do you consider the best analysts to work for at DB?
Seems to me DB has lost a ton of talent and good analysts
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