Recently got an offer to join the firm for summer analyst. I know that they aren't the strongest bank out there, but they do be growing their IB business and is trying to expand. Anyone know how they are doing these days and what the bonus/comp looks for analyst?
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“They do be growing their IB practice”
They suck at IB its not a priority for the firm and are losing market share
Still a good training platform / reputation so just get a pe job and get out
To everyone that gave MS, I literally used to work at DB and have seen their own benchmarking of IBD revenues / market share which was decreasing meaningfully YoY despite MD hires. To all the juniors in this thread — you do not want to join a firm that recently went on an MD hiring spree your life will be hell. Some groups have nearly ~2x the number of MDs to analysts. Do the math your life will suck (busy as fuck on nearly only pitches). What the other user said about aging infra / tech is true as well. IBD is an afterthought at the bank and its felt.
I still back what I said where if you have no other options DB serves as a good training platform
Cannot agree more with the above post. There are deals where currently the team consists of 5 MDs, 1D, 3VPs, 1 associate, 2 analysts and 1 grad. Been on projects with 2 many MDs vs analysts and every MD wanted to “contribute” something and 60%of time they could not agree between each other
Ex-DB here, their banking platform in the US is a joke. Even within the bank, no one respects the O&A business. Their bread and butter FIC business has largely kept DB afloat, and those guys have zero respect for the bankers.
It is a priority for the firm to grow their advisory business to have a more balanced revenue mix and RWA. They made several senior hires although result haven’t materialised yet.
Great time to join
Bump - 50 recent MD hires.
Could not be a better time to join.. have made a lot of hires that should start materializing this year. Ignore the noise from people who work at some MM on this website
Most definitely a huge focus on MD hiring - one of the banks that hired the most in these past few years. Still exits fine given current deal flow and better than MM names like Wells/RBC who technically might be above them right now in global M&A rankings, and hopefully, these MD hires will finally push them up the league tables. This is prob the best time to be at DB for a while, and if you don't have any other BB/EB offer, I would take DB and be very happy with it.
Consumer & dig have made several hires. Would you still take industrials or go for the other coverage groups with new hires if you had a choice?
The top 3 groups without a doubt are LevFin, Sponsors, and REGL. I don't personally work at DB so don't know the state of the other groups, but if you are an intern I would try my best to get into one of those 3 groups.
Is it USA or Europe? If it is your only choice - take it Otherwise would not recommend - DB overhired in terms of MDs that cannot even bring any deals. Press-wise might feel that they are great as they recently hired more but mainly they made some of 2021/2022 MDs redundant after 2 years of no deals brought Management is living in Stone Age with some part of infrastructure / support teams (BIS, eval, press) of lower quality than in other BB, if you can still qualify DB as BB I know I might get a lot of monkey things for this but I work at DB and swapped from the other BB - believing in the upward trend but that was the worst career decision I’ve ever made
Are y'all just doing pitch work right now? Or what does your day to day look like in terms of tasks rn?
Team wise, would say 40% pitches 40% zombie deals that have been going for long time, burned many ex-colleagues and actually are unlikely to even get announced, and 20% real deals
generally, MD level of accountability is non-existing if you compare to any American banks. Employees take insane pleasure in being busy / pretending to be busy and that pays off more than actual results
Are you in the US?
Let’s say I have visibility across the pond though it is not a level of visibility you will have in high performing, well conducted American bank
Given Deutsche Bank's recent performance and strategic initiatives, its outlook for 2024-2025 appears mixed. While the bank has made efforts to streamline operations and improve profitability, challenges such as regulatory scrutiny and market competition persist.
New wallstreetoasis GPT bot?
To be honest it seems like they are pushing on IB. I have seen them win some mandates in the sector that I cover over the last 12 months, which I hadn’t really heard much the 2/3 years prior
Which sector?
Seen them win deals in Industrials and TMT
.
What is the focus of the bank if not M&A?
Historically debt but with increased number of credit funds is not such easy bread to win as it used to be
what about DB HC
Echoing another veteran from the jungle, the firm does stand out for analyst training, and hats off to them for somewhat cleansing the brand’s image from past tarnishes – at least for the moment. But, let’s be crystal: its seen as a launchpad, a means to an end, especially if you’re hitting a wall snagging a better offer elsewhere.
Diving into the analyst saga: you kick off as a generalist, flying high with an offer, only to dive into the springtime scramble of having to then place into two groups ahead of the internship. Picture this – a horde of analysts duking it out for limited spots in the few top coveted groups, igniting drama worthy of prime-time TV. Thought you were destined for REGLL? Surprise twist – welcome to FIG!
Peel back the onion, and the core revelation is many high-flyers don’t stick around past the associate/VP stage. Why? The bonus game isn’t winning any medals, especially post the “record-breaking” 2021 parade (just ask how the bonuses were for that year and since). What you’re left with is a disproportionate amount of the B-team brigade, more invested in minimal-effort ladder climbing and impressing the higher-ups than truly fortifying the bank’s future or nurturing junior talent. VP-COV wasn’t mincing words.
Apparently some groups may have turned Big Brother, hawk-eyeing analysts to ensure their butts are in seats by like 8:30 AM sharp, regardless of last night’s marathon. And heaven forbid you contemplate grabbing breakfast or lunch with fellow analysts; optics over well-being, because apparently, it’s crucial for the MDs to see desks filled, even if it means having to eat at your desk... or worse, potentially adopting some... unconventional methods to avoid leaving your desk.
With all the recent expansion, new MDs and hires, you’d think its on an upswing. But it can seem like bureaucracy and playing not to fail are the more cherished traditions. So brace for a barrage of pitching, part of the grand dream to carve out a spot in M&A. And don’t get started on the archaic infrastructure/support/tech – it’s like being stuck in quicksand, constantly redoing tasks thanks to ‘technical difficulties.’
So, if you’re pondering a stint, eyes wide open: it’s a decent training ground and perhaps a necessary evil if you’re out of options. Just be ready for the rollercoaster – and maybe keep an exit strategy in your back pocket.
I started out at DB so a few pointers below and hopefully it helps in making a decision. If I were you, I’d try to get an offer to another firm or rerecruit after you convert. I’d be looking at another BB instead of a boutique (unless top tier EB). Culture and pay wise DB is weak, slightly below the street. The only good thing is the name carries quite a bit of weight, and you should have a decent shot at UMMPE and a very solid shot to lateraling to any bank you want
How was the PE recruiting process from DB? What type of firms do you typically get looks for in on-cycle or off-cycle?
How would you rank levfin, industrials and regl from a pe exit standpoint?
From a PE standpoint it would be Industrials, RE (but for RE exits only) and then LevFin. LevFin exits better for credit.
Why not lower tier EB?
how's the consumer team doin? heard they hired a bunch of ex-CS MDs
They are pitching like hell
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