Is Deutsche Bank really that bad? (NYC)
Hello everyone,
I was wondering why people criticize DB so much, I mean they are still a BB and recognized almost everywhere, I was wondering if you could tell me some good/bad things about DB. Would you accept an offer from them? Also, what % of their intern class receives full-time offers in IBD? Thanks in advance.
inb4 comparison to RBC
There are 2 kinds of people in this forum. Actual bankers, and people who are applying and trying to be bankers. Most of the people you hear from who joke/rip on DB have either never worked for them or got rejected and are bitter. Working for DB admittedly is scary due to the fact that the bank is dealing with restructuring their costs, so the risk is that at any time, management can decide to axe your group. I personally have had no problems thus far working in IBD.
Thanks a lot for your response, makes a lot of sense. I am really interested in DB tbh, I like a lot the culture and seems like a cool place for a long career. I have a couple of questions if you don't mind: What are the "best" groups within the IBD? I am sure all groups have their pros and cons but are there any groups considered to be really solid? Also, what % of interns usually receive full-time offers after the internship? How is compensation compared to other BB? Thanks a lot in advance!
the best groups at DB are LevFin and Sponsors
I would also like to add on I've heard of people interning at DB and because of budget cuts no return offers or very few of them are given. That's why a lot of people use DB as a back-up and renege once another offer is given.
Heard the opposite. Pretty high offer rates, although London. No clue about NYC.
Yes DB is still a BB, there's really no other way to categorize the bank. But how much is the BB brand worth nowadays? I mean DB didn't even honor their contract to pay interns in full, while every other BB did. Seems like the bank is undergoing extreme cost-cutting measures for NA. Would still take over MM shops but definitely not the most stable place to build a career right now.
Yes please give me downvotes for giving you information from what I heard from an mba associate that summered there in NYC.
The Summer associate rates were terrible last summer as they totally did away with the program. That being said the return offer rates for the summer analysts are always very high (100% for several groups several years in a row and usually 80%+ on average)
If you consider working for a top 10 global bank in the financial center of the world making six figures at your first job, with plenty of opportunity to upgrade to a top 5 bank down the road as bad, or, if you view it in the eyes prestige-whoring students on this forum, then yes - it's just awful.
And no, I don't work at DB
Thanks a lot for your message. Do you know how is DB viewed for B-School applications? I want to do IB 2-4 years and then go to HBS/Stanford/Yale
I mean...Harvard/Stanford =/= Yale in terms of how tough it is to get into their business school. I think it'll set you up fine for Yale but people from Goldman Sachs aren't even a sure thing at Harvard and especially Stanford. If you're going to compare it to other banks in terms of how they are viewed overall then no-one can deny the trail the top BBs and EBs by a margin - that doesn't make it bad, but if you had an offer from one of those other banks you should take it. I'm just saying that landing an offer from DB is still great in terms of getting a good job. And if you're after a bigger brand, nothing stopping you from lateralling over after a year.
RBC not BB, DB is BB
RBC sucks
CONFIRMED RBC IS WORST BANK ON STREET
read the dark towers, tells you everything you need to know about the s&t and IBD culture that has been fostered at DB
it really is the worst.
doesnt give a shit about its employees AT ALL
not just this summer for its interns
i also heard that it did nothing for its houston interns when they closed the office. one day and their internship due to start in 2 months i gone kaput!
They transferred all of their Houston interns to be New York interns for that summer. Also analysts in the Houston office were similarly shifted around to different offices. This is just inaccurate
that is not true. they did give them a decent payoff but did not move all of them to other offices.
source: good friend
All the people shitting on DB on here just show how many people on this site have never actually worked an IB job. Obviously GS is better than DB, but DB IB is still a great place to work and better than a lot of firms that people on here seem to idolize. Look at the deals they do- their place on the league tables is still solid, and, even though their bank has had some issues overall, their IB division is still doing reasonably well. Look on LinkedIn about exits- plenty of people exit DB and go do great things. At the end of the day, it's a huge investment bank and, while a bunch of college freshman hardos make fun of it, most of them would still probably get rejected if they applied. And no, before everyone says it, I don't work there (actually got rejected from DB even though I'm at a 'better' bank now)
It's like the Cornell of the Ivy League. Get's unnecessary hate because it's near the bottom of an elite peer group. That said, there are only a few schools that many will take over Cornell. Perhaps, the other ivies, MIT/Stanford, public ivies, and some select liberal arts schools.
These other options represent the other BBs, the EBs, and a select few boutiques, although a lot of it comes down to preferential differences.
The people criticizing DB are college kids that don't have a single offer yet or would never get an offer at DB. You should always cast a wide net and never think that you're too good for a bank. The reality is that you're not. Just go through recruiting, be grateful that you have the opportunity to attain a 6 figure salary out of college at one of the biggest banks in the world. Once you have offers, you can start comparing and criticizing. Otherwise, you're a wannabe.
As someone who spent two years there as an analyst, I recommend it to no one unless you have no other decent options (besides IND, Lev Fin, maybe sponsors = very good). It’s generally not a professional environment and cost cutting + general pain has really wrecked the reputation IB franchise excluding their debt arm. Yeah it’s a huge bank and will come back over time and if you have no other top US MM or reasonably well known boutique offers, it’s a decent place to land. If you want to work on real M&A deals, it’s 0% the place for you and headhunters increasingly are disrespecting this bank when it comes to recruiting
surprised you put industrials in but left REGLL out.
Maybe it’s changed but when I was there REGLL had an exodus of talent and IND was firing, i spend 0 time following volumes there by industry now
Thanks for your input. How is compensation at DB compared to other firms? Also, how hard is it to be promoted from A2A?
Those questions don’t matter until you get an offer from somewhere. Comp was ok when I left, they were begging people to stay on to associate. Either very low performers or very high performers stay (can lock in top bucket probably for 3+ years)... consistent with other banks from what I understand
How would you compare DB to RBC and UBS?
UBS > DB. I don't really know where RBC stands in the mix.
Ditto on M&A deals. DB is a debt shop and their only real product strength in IB is lev fin. Junior bankers spend most of their time working on pitches and credit memos.
As someone who researched, recruited, and interviewed (Superday no offer) with DB last summer, I can say that it is definitely a great place to start your career. Although their restructuring has a long way to go, the Analysts and Associates I met during the process were incredibly humble, kind, and respectful. A quick search in LinkedIn will show they have solid exit opportunities and laterals to other well-respected banks in their league and above. Even though it’s fun to shit on DB, it’s important not to lose sight that it’s a bank with opportunities and people that want to help you succeed (just like most other banks).
How the heck would you know. You "researched extensively" like seriously dude. How could you have any idea that it is "definitely a great place to work"
I mean it's still decent, but idk why you'd pick it over another BB...
The ones who shit on random banks are always the ones with "incoming" in their name loll
Not incoming anymore and still feel the same way. Besides, I didnt shit on it, I just would prefer working at a BB over it
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