How bad is DB these days particularly for ASOS starting and career trajectory and pay. A lot of articles about people and teams leaving before bonus season. It sounds bad from the outside. If you have any other choices should you forgo DB at this point?
https://news.efinancialcareers.com/us-en/322273/d…
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Not great considering what happened in Frankfurt yesterday.
Doomed Bank.
It's a race to downsizing before the bank implodes and German taxpayers have to bail it out. Then you'll see bad things in Germany.
The thing with DB is that they have a massive pension program that goes way back, so there is a lot of deadweight no-value-add senior bankers who are incentivized to just stay and ride it out (or get fired and receive their owed severance), regardless whether the bank burns to the ground or not
I still think if you're strictly aiming the 2-years-then-PE there is value to DB (particularly in Europe) given the brand name and strong sponsor dealflow (I'd say on the advisory side they're more dependent on sponsors than ever, so you will get the LBO experience you seek as a junior) but if you're aiming a long term career, definitely better to jump to a US investment bank or European banks with strong US presence (Barclays, Credit Suisse)
I think the most important thing about getting junior experience is the guys above you. DB clearly isn't the strongest IB going and those above wont be the best to learn from, and so I think if you have / can get offers elsewhere then you should go elsewhere. That said if you can't get offers elsewhere I don't think it would destroy your career / stop you going to other organisations / industry's later on as it will be more down to you. You just may have to accommodate your learning elsewhere and look at more intense networking. I have constantly seen all the big US banks recruiting in London at the "senior analyst", associate, VP level etc over the last 18 months or so. Therefore I think there is always a strong chance to lateral later on in your career if you feel like that's a path you want to take.
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