Whats going on at Deutsche Bank, and how will incoming analysts be affected?
So... Incoming full-time analyst in the Equities group at DB. Didn't think this was going to happen when as a Sales and Trading Summer Analyst I accepted the full-time role as I didn't want to deal with recruitment again, but now I'm scared. Will I get fired after a month or two (or even before I start)? Or will the bank transition new hires to different roles? Do you think I should ask my incoming manager?
Your incoming manager is probably getting fired today or in the next few weeks/months along with his whole team and probably doesn't have a clue about anything... This really sucks :/ They might find some role for you but i would prepare for the worst. On the bright side it won't be help against you and it's not an industry wide issues so hopefully you'll find something (Not 2008 type of scenario)
Well, that stinks but I guess at least you're being honest. Do you think they'd hire analysts for a few months and then fire? Or tell them right now not to bother? Also, is it worth going to HR and ask to transfer groups?
Also, if I end up working for a few months and then getting laid off, will it look good or bad on my resume?
I would be very surprised that they hire you to fire you in 3 months. It wouldn't make much sense for yourself either anyway. If I were you I would contact HR to check if there are some roles into which you might transfer, and start applying at other firms today. Mentioning that you had an offer at DB might help a bit.
Where do you mention this in an online app though. Something to put in the CV/Cover Letter?
Certainly I would include it in the cover letter. I would add it to the CV as well, people will be aware of the DB situation and they will understand right away why you're looking for a job while you're enrolled to start at another bank in September.
It's probably not the best idea to be applying for new roles now given that a tidal wave of CVs from ex-DB traders is about to hit the street. Assuming you've kept your job you should wait at least a few months before reaching out to other firms.
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