Deutsche Bank Offer

There definitely will be opportunities to lateral after your SA. Take the offer right now and continue to recruit if you can. If you get something better then great, if not then you still would have a chance to lateral after your SA or after you start full time. Despite the recent turbulence, DB is still a well-regarded name in the industry and will validate your ability as an analyst. So you should be in a good shape regardless.

"GrandJury" Some good advice in this thread, but there are some very strong voices coming from a bunch of fucking idiots. OP, please do not listen to said idiots.

1. DO NOT accept the DB offer unless you're also planning on continuing to recruit so you can ultimately reneg. I'm assuming you are a pretty qualified candidate and have the ability and competency to hopefully land another IB SA offer.

There is so much downside to accepting the DB offer. Let's say you accept the offer and in 3 months DB announces they're cutting even more headcount and has to downsize their incoming intern pool. You could get fucked and then at that time you're too late to recruit at other IBs. You'd be fucked.

1. DB is NOT a good IB shop. That one clown in this thread that keeps on promoting DB is probably a bank teller in Salt Lake City. Fuck that guy.

2. The people that are saying, "oh just take the SA and then you can lateral for FT" are dumb AF. You're going to be doing zero live deals because literally everyone above you will be trying to look for a new job. You're going to be extremely unmarketable compared to the kid that wants to jump ship from JPM to Evercore because he hates BBs.

3. In the off chance that you do your SA there, your time will be miserable. The culture is going to be toxic, negative, and overall just a drag.

4. GTFO while you still can.

5. jsdkfjsadkfj = squid.

I came here on a Sunday to concur with this. Certain groups within DB did pretty well but its clear shit is falling apart. That idiot promoting DB - you are obviously off of your rocker and can fuck right the fuck off...

Everyday I get a batch of resumes from people at DB IBD applying to us (beyond the analyst level). Yes, underperforming MDs and Directors or those in the groups that are getting cut have been or are getting driven out....plus a lot of those who are left behind are looking actively to jump. DB US has been on the decline for awhile and we have hired selectively over the last years from DB...after a few years of talents leaving DB, the consensus I think is that most of those MDs and Directors and VPs still left at DB are not the strongest ones we would even want to hire at this point. One other similar example is Greenhill...that’s another sinking ship with talents leaving left and right and we’ve been poaching people from Greenhill selectively. Probably give another year or so there won’t be that many good talents left at that place either.

Banking is a people business...just because DB didn’t physically shut the whole place down in the US doesn’t mean there is good business (human capital) still remaining. It’s a vicious cycle - A and B rated talents leaving for other banks, left with C and D talents...hiring A and B talents from outside to replace those who left will be too expensive for DB at this point...

"Dryicewall" Alright seems like we have a lot of opposing views here.

I'm currently FT in DB NY CF (not going to say which group), so here's my two cents. It's entirely true that the firm is axing roles in IBD and ST in NY. But the fact is that those that were axed recently were not making money for the firm and they already knew it was coming. Those whom I know that left were able to transition to other BBs/MM roles easily. Also, majority of those that were axed are in senior positions that were adding too much cost to the firm. At a junior level, this is hardly a problem AFAIK. Morale isn't really that bad as what you read in those sensationalized news articles. DB isn't doing a full scale retreat of IBD and going back to Europe. It's just cutting out the unprofitable parts faster. It's something any bank would do.

So im just saying - take all the comments here with a pinch of salt. Half the people here are uninformed kids that base their comments on what they read from WSJ or efinancial.

you are really naive

Still bored.

Ad Hominem attacks: 1. Of course I work at DB - the amount of info about my background available on this site is pretty substantial 2. Nice burner account 3. I've been posting to this board since most people on this thread were in elementary/middle school. (Rabble... get off my lawn!)

I thought I was very clear with the "Yup layoffs" that there are layoffs across DB (yes in banking too). The major cuts of entire functions (100+ people) are in S&T land.

Maybe I was unclear on the exit opps point. I said you can get a "decent job" from anywhere. Then I clarified that GS trumps all (not just exit opps, but LT resume building, brand outside of banking etc.). I didn't mean that there are not different exit opps.

The rest of stuff in the post seems fine broadly speaking.

"PowerMonkey" "Quick someone is wrong on the Internet".

I'm a little bored tonight so I will help out on this thread. Again a ton of misinformation on this thread from people who don't work in banking or even understand the dynamics of getting a job.

To the OPs question 1. If you are in any of the groups that haven't been shut down, yes you will have good deal flow. DB is a debt shop and you will be on every LBO and levfin deal that happens. 2. Yes you can totally parley a SA position to a FT position someplace else if you hate your experience 3. If you liked the people that you interviewed with from the core school (who will be the analysts and associates you work for) take the job. If not don't. 4. Basically any analyst stint can get you a decent job afterwards. Doesn't really matter in the long term. (Unless you are going to GS, but you my friend are not)

Other thoughts 1. DB is not exiting US IB 2. The unit that is doing layoffs includes S&T jobs, prime brokerage and a bunch of other stuff DB is terrible at 3. Yup layoffs 4. Most groups have no more churn than any other BB on the street 5. If you really believe that WF or RBC is better than DB, please oh please go work there and get paid less than market 6. DB pays market for everyone below VP. Sadly, at VP and above there is a 20% or bigger discount 7. You can get the same job out of DB as anywhere else. DB is a debt shop, PE uses debt, PE uses DB.

TLDR: Accept a job with people you like. This job is easy. All analysts get paid a multiple of the median income in this country for less work than they were doing 5 years ago.

TL also DR: DB is just fine. Better than when billions of fines were coming every 3 months.

that's funny. how many analysts did levfin take this past year? your intake is around 80-120 analysts on any given year so i'll give you 10% at best. oh, the culture at levin... AFIK - all dartmouth bros. good group though.

sponsors? sure you have "PE" exposure but they dont run their models

TMT = may as well be dead Consumer = basically dead, not a strong group to begin with Industrials = some hope but culture is interesting M&A = joke and culture is toxic Sponsors - see above Levfin - see above healthcare = dead energy = gone

so yes DB is not exiting IB but you should consider stop drinking the DB koolaid.