Deutsche Bank 2018 --- Top groups, Exit opps, Pay (Bonus)?

hocogrind's picture
Rank: Gorilla | 591

How is Deutsche Bank's investment banking division in NYC looking in 2018 and onwards? Specifically looking for data on SA -> FT return offer rate for different groups, exit opps, top groups, and how have the analyst's bonuses been in the last couple of years? Thanks guys

Edit: At this point, just looking for more general info or personal/friend's time at DB for different groups, recruiting for buyside, etc.

Comments (55)

Apr 7, 2018
Apr 7, 2018

WOW shit

Apr 7, 2018

Well shit lmao... should this be taken seriously? Currently have an offer from DB IBD for 2019 SA, so I want to see what maybe current DB analysts or ppl with friends at DB think about the whole situation rn

Apr 7, 2018

Best guess would be not to take JPMorgan's top banks analyst too lightly. You shouldn't be looking at exit opps at this point anyways either.

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Apr 7, 2018

Would appreciate inputs from current/former bankers

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Apr 7, 2018

How long do you have to accept the offer?

Apr 8, 2018

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Apr 7, 2018

If Cryan stays, DB IBD business in the US will be scaled back. All over the news at the moment with succession issue. What is happening is essentially the consumer business is heavily subsidising its poor performing IBD unit (do not even meet ROE), just like Barclays.

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Apr 7, 2018

@MrK25" Thank you for your insight on DB's future. For someone who is working at an EB as an analyst (looked through your profile), what is your honest opinion on DB in terms of exit opportunities, best groups, deal flow, compensation etc. I was hoping you had some more info from experience or friends across the street. I would really appreciate a brutually honest answer, as I am trying to make a decision for next summer.

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Apr 7, 2018

I'm based in London so most knowledge on exits is related to Europe. Wouldn't know to comment on exits in US.

Apr 7, 2018

DB IBD is solid in Europe. For USA caution is best advised, cuts may be ahead especially for S&T.

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Apr 7, 2018

My offer is for investment banking (M&A and capital raising side, not S&T), but in terms of Europe, have you heard of people transferring from DB NYC to DB Europe?

Apr 9, 2018

Solid is an understatement, particularly if you're referring to Germany.

DB's IBD in Germany is elite.

@buylmt" yes, it is possible to move from NY to Europe and vice versa. This sort of move is common across the European banks... Usually on a rotational basis. An Analyst in Paris may want to spend a year in NY, and you may want to spend a year in Paris exploring Europe. Banks are very good about making rotations like that happen.

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Apr 7, 2018

Was your superday on 4/6?

Apr 8, 2018

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Apr 7, 2018

congrats! when did you get invited to the superday?

Apr 7, 2018

There's gotta be current/former DB bankers on WSO... not even something you heard from friends or colleagues?

Best Response
Apr 7, 2018

Congratulations on the offer! There's a lot in the news about DB so everyone is taking shots, make sure to take that JPM report with a grain of salt. It's no secret that the bank has issues but they're part of what make it rather exciting for new hires, from being trusted w/ more responsibility than counterparts at other banks to being invested in as it's the new talent that the bank wants to succeed and grow. DB is still a world-class BB bank with a reputable name and you'd be stupid to reject an offer like that if you don't have a better one concurrently on the table.

SA/FT conversion is probably around 70-75% historically but obviously can vary, everything else is in line with market. Don't obsess over exit opps and all that other stuff. If you're a strong candidate you'll make the leap, and you can always do FT recruiting with this experience if you find DB is not for you.

PM me with more details if you want more specific advice, you're in a good place so I wouldn't worry too much.

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Apr 7, 2018

Yeah to build on this, had some friends intern at DB last summer. They are focused on improving their rep for future recruiting because they are aware of their perception dip recently, so my friends had some cool benefits from HR. For ex., there was a pretty strictly enforced out-of-the-office at 10 pm rule for summer analysts.....which is pretty sweet. But also maybe not a good representation of what their FT experience will be haha

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Apr 8, 2018

Hey could you PM me? I would love to learn more about their SA program if you don't mind if I ask a couple more questions.

Apr 8, 2018

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Apr 8, 2018

Thank you so much for all of that info, really appreciate it. Unfourtnately I'm out of PMs for the day. Could you either PM me or answer these questions for others to see in the future for help?

Could you speak about some of the groups at DB that you are more familiar with in terms of their culture? Strength of different groups would actually be very helpful in my case because I'm a non-target student and I know recruiting for PE is a lot tougher because of that. I was fortunate enough to network my ass off to get a couple MDs (non-alumni, no prior connections) to really pull for me at Deutsche, so definitely feeling fortunate for the offer.

And lastly, how has the pay in terms of bonuses been for its analysts in recent years? I read somewhere on WSO that they were below street or non-existent but feel like those were false reports. Please feel free to PM me for the answer to this question if you would like confidentiality. Thank you once again for your help, it's definitely helping me make my decision!

Apr 8, 2018

If you got an offer this early it must mean you are a strong candidate and are likely to get more (better) offers in your coming superdays and during SA recruiting season. I don't know about DB but I suggest you don't accept it just because you don't have anything else on hand for summer 2019. It is still very early. Try to leverage it for a better bank or try to get some sort of group specific offer, scholarship, [something to make it worth it].

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Apr 8, 2018

No worries. LevFin is strong, same with REGL and M&A I guess. If you're interested in pursuing M&A in Germany it's pretty top tier. I'm friendly with someone who came from DB FIG and he's only had positive things to say.

Interesting point to consider: mobility. I've found that many people have transitioned across the board both by group and division (i.e. banking > markets or vice versa, ops>fo, etc), it floors me each time. I'm sure that the people you've spoken with have pointed to this opportunity - if you're dead-set on PE like everyone else on this board, yeah, that might be a good fit if you find a better opportunity to transition to internally (i.e. switching groups or whatever). In all honesty, a strong candidate will make it anywhere they want. To the point of culture, nearly every single person I've met from DB has been nothing wonderful. Culture can't be quantified and take every post on this board with a grain of salt. You have the offer in hand, might make sense to reach out to your MDs and ask if they can help intro/whatever so you can better gauge ahead of placement day what you want exactly based both on the group coverage and the people involved.

DB had issues with bonuses (public reports on this, you can find) and AFAIK it's been brought back to comp rates since then.

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Apr 8, 2018

Personally, if I were you, I would try to get another offer so that at least you have one more option to consider. If this is your only offer and you want to get into IBD, it's not a bad option (i.e., it's the only option you got...). If I had other offers, would I accept an offer from DB? Most likely not - I would advise against it.

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Apr 8, 2018

Yes I second this as well. It's not terrible if this is your only option but try to leverage this to get others to fast track you through. Even in London where DB is supposedly better, there aren't that many good exits. Pay / bonus is really not competitive at all, compared to other BBs / EBs.

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Apr 8, 2018

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Apr 8, 2018

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Apr 8, 2018

Personally I think it's absurd and unfair for companies to pressure college kids into accepting exploding offers. it's the reality of the recruiting game and I get why they do it...but it's really not fair.

One potentially controversial way you can go about doing is the following:
(1) Accept DB offer
(2) Interview with other banks
(3) if you get better offers, accept that other offer
(4) Back away from DB

Look out for yourself - it's not fair for these banks to be pressuring kids into accepting offers this way

I would, in most cases, advise against doing it this way though.

Alternatively:
(1) go with DB
(2) Get a return FT offer
(3) leverage that to get other FT offers

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Apr 10, 2018

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Apr 10, 2018

Could anyone share specific names of Upper MM or MM PE firms that you've seen former Deutsche bankers at and what group they were in? Definitely leaning towards signing, but want more info on exit opps especially since the future within DB may not be so bright

May 16, 2018

Former analyst in the Oil and Gas group is at Carlyle, analyst from consumer is at Argentum Capital Partners, analyst from FIG is at Vista Equity Partners, analyst from FIG is at American Securities. You can search LinkedIn and filter by past employer Deutsche Bank and use private equity as a keyword.

Jul 18, 2019

This didn't age well.

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Aug 23, 2019

Bump 2019 opinion? Ibd

  • Prospect in IB-M&A
Aug 28, 2019

FSG
LevFin
REGLL
Indsutrials

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  • Prospect in Other
Aug 28, 2019
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Aug 28, 2019