Deutsche Hiring?!

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BBthrowaway

Senior Monkey

IB

4y

Most Helpful

I'll give you some commentary - currently at DB investment banking.

Mid-2018 was without a doubt a tough time at DB. In comparison, end of 2018 and 2019 YTD has been pretty calm. Things are pretty stable, and in fact there's been some hiring going on. LevFin just poached a Jefferies MD, Sponsors hired 2 MDs, Software hired 2 MDs. So there's a sentiment to grow selectively where it makes sense, but I can't picture a mass hiring spree either.

I believe 6 out of 7 industry groups have taken market share this year (~100+ bps on average, Dealogic data), with recent HC / FIG investments at the senior level paying off, and ECM / DCM / LevFin have been doing pretty good as well. For 2019 YTD, we're currently #1 in LBOs by volume / #2 by number of deals (Again, Dealogic data). ECM is currently #4 in the US (mostly off of DB's strong SPAC franchise, so take with a grain of salt). M&A is pretty meh, but DB has never really been a big-time M&A franchise so if you're looking for constant M&A mandates this probably isn't the place.

Culture-wise, it varies tremendously by group. LevFin / Sponsors have really good work-life balances and overall cool people. FIG has a pretty good culture as well, nice people, but they can work pretty hard at times. HC and Industrials are the two groups with toxic cultures, and easily work the longest hours (100+ hour weeks seem to be the norm rather than the exception). HC has lost 3 out of their 6 first year analysts, and IND has lost 5 first year analysts out of ~15. Think that says all that needs to be said about those groups cultures, and it doesn't seem to be that anyone in senior mgmt or HR is working to make it better.

Definitely more to add but I think this should cover the main points you're looking for. Overall theme: things in US IBD are OK, not fantastic, not horrible. The negative headlines you hear about the US investment bank surrounds our S&T operations, which is frankly very much merited.

randomtime

Senior Chimp

IB

4y

This is super helpful, thank you! I noticed you did not mention the TMT group. Is that not a strong group at DB? Can you shed any light on the culture / hours and how hard that group was hit during the chaos?

Leon Dragonov

Almost Human

PE

4y

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