Deutsche Bank 2019 IB - am I screwed?
Hi guys, I know there are a lot of experienced people in the industry here, so I want to address a concern I have.
I took a Deutsche Bank summer 2019 offer for Corporate Finance (their investment banking division) for NYC. How will this affect me in the long run, given the cuts in IB and how they are not doing too well at the moment? Is there any chance they would cut my spot by summer 2019, leaving me with no junior year internship? I may be overthinking this, but I want to bounce these thoughts off the community here. What have you guys heard about DB from inside the industry? Thanks guys.
Hey, I was wondering when did you get the offer and when did you apply?
I recruited for them over the summer and got the offer then (early June?)
I'll bite. Posting this from a throwaway because people would probably know who I am based on my main account's post history.
I'm at DB. I am of the opinion (and most people internally) that we're now starting to stabilize. Layoffs in the IB division proper are done, staff turnover has been pretty quiet over the last month, and management has been making a concerted push to really invest/grow groups that have not been our strongest in recent years. Healthcare has been hiring a lot of new people, FIG has brought in a whole new slew of seniors (former global head of GS FIG Celeste Guth is now head of DB FIG, many directors/MDs brought in from GS/other strong banks) and the Sponsors/REGLL/LevFin groups remain top 3-5 on the Street at what they do. The cuts in early summer were fat that was long overdue for a trimming (inept associates/VPs, and directors/MDs that weren't generating revenue) and a Natural Resources group that quite frankly had never been a contender.
Many things can change over the course of a year (hell, there could be another recession and even the GS 2019 intern loses their offer), but I'm confident that there won't be any more shocks to our US investment bank in the near future. Nobody in my group is concerned about job security (knock on wood, hope I didn't jinx myself lol). Even when the Houston office closed some (note: not all) of the interns were accommodated in other offices.
TL;DR - you are fine dude. If you want to discuss this at length, PM me and we'll chat.
Thanks man - this is along the lines of what I've been hearing, but I guess media over-sensationalization got the best of me. Glad to hear you're doing well!
Stop believing the noise and take every finmeme account's jokes with a grain of salt as they're on the outside listening to the same garbage the media is putting out for clicks. BBthrowaway is correct. You'll be fine, and are entering the bank at arguably the most optimal time.
andddd celeste guth has left. Do you have any updated thoughts on the situation at DB/starting there?
Nothing to be concerned about.
While I don't work at DB, I've always thought in general the best time to join is a company is directly after rounds of layoffs
This is true. Look for chaos / "disruption" (god I fucking hate that term but it's applicable here), be willing to do anything and everything to help the group / firm grow and prosper. Fill the spots that need to be filled and you'll move up quickly. One good thing is if you kick ass it will be noticed.
As an intern, you're probably safe. Interns are cheap. But I've already have had 40% of the people who graduated in my year who went to DB reach out to me looking for opportunities to jump ship. Maybe the analyst who works there has a better perspective than I do, but at the VP/Associate level, it does not look pretty.
Hi! Just wondering, how did the interview process go for you? I have a phone interview with them tomorrow and I definitely want to be called back for final rounds. I would appreciate any advice - thanks!
is this for IB capital markets?
yes
+1 Has anyone heard from DB SF Superday last friday?
yep
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