Why is everyone hating on Deutsche Bank?

Why is it DB are getting a lot of stick recently? Seen a lot of people posting that they wouldn't want to work there?

I understand they haven't done so well recently, but why? what's caused them to suffer? and isn't their restructuring plan a sign that they're adjusting to the new economy and should do well in the future?

Surely Deutsche Bank is still a top place to work, maybe not up there with MS and GS but still strong?

Comments (33)

Aug 30, 2016
Grylls:

Why is it DB are getting a lot of stick recently? Seen a lot of people posting that they wouldn't want to work there?

The majority of people saying that are students who are yet to receive an offer yet think they're a shoo-in for GS TMT / MS M&A.

Grylls:

Surely Deutsche Bank is still a top place to work, maybe not up there with MS and GS but still strong?

Bingo. Still a great bank to be at.

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Aug 30, 2016

I heard Deutsche Bank killed Harambe....

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Aug 31, 2016

oh no!

How is my grammar? Drop me a note with any errors you see!

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Aug 31, 2016

I am sorry for your loss.

Sep 1, 2016

oh no papa!

Sep 1, 2016

Bingo.

Aug 30, 2016

Very bad press recently -> bad morale -> unpleasant culture, job cuts, low bonuses, poor return offer rates (speaking from a US/NYC perspective) would be the first few things that come to mind. Still a BB, so it's got that going for it, but there are certainly legitimate reasons for it to be losing its luster for applicants. Those are definitely things to consider when choosing between DB and other decent banks (i.e. MM/boutique, since there's really no way people are going to take DB over the other BB's).

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Best Response
Aug 30, 2016

That, and the Harambe fiasco

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Aug 30, 2016

Being hit by monkey shit only makes it more ironic

RIP Harambe

=,(

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Aug 30, 2016

Harambe took the bullet no one else would.

Sep 1, 2016

It runs in the family.

How is my grammar? Drop me a note with any errors you see!

Aug 30, 2016

I've seen more kids not get return offers at DB these last two years than at any other large bank. Also haven't heard stellar things about their culture either at several coverage groups.

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Aug 31, 2016

What's DB's return offer rate?

Aug 31, 2016

currently hovering around 62% according to the WSO Company Database, but you'd have to dig into more of the recent company reviews to see the downtrend in recent yrs (if there is one, personally i have no clue)

Aug 31, 2016

Failing stress tests, and being European based are some fairly strong negatives at the moment.

Aug 31, 2016

BTW is it true that Barclays tends to have the best culture?

Aug 31, 2016

Can you describe best culture?

Aug 31, 2016

depends what you mean by best, I have a couple family friends working there, and from what they tell me they work longer hours compared to their friends at other big banks, spoke to one last week and he said he hasn't had a day off work (including weekends) since June. They also said their bonuses (not gonna say the figure) are slighly lower than their friends at other big banks but they said all this is outweighed by the team culture, they said the office banter is 10/10 and everyone just cracks jokes and they said they wouldn't wanna work anywhere else

So I guess they most likely have the funniest culture and a banter vibe but in terms of hours and pay it isn't the greatest

Sep 1, 2016

What is your justification for not disclosing the figure?

Aug 31, 2016

Among other things, it's their notional book value of $76B in derivatives.

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Sep 1, 2016

Think you're off by a few zeros there

Sep 1, 2016

My bad, you're right - it's in the trillions.

Aug 31, 2016

Failing stress tests, horrific profitability and a huge notional derivatives exposure. Just my $0.02.

Sep 4, 2016
EuRates:

Failing stress tests, horrific profitability and a huge notional derivatives exposure. Just my $0.02.

I'd add terrible senior management, a 'hodgepodge' sort of culture due to all the various acquisitions and new teams brought onboard. The derivatives time bomb is huge.

Another thing I noticed when dealing with them in London was that they seemed to have multiple groups doing very similar things and competing with each other. I'd imagine all those groups doing the same thing means excessive headcount (obviously) and couldn't be good for morale (or bonuses).

They are also pulling back bigtime everywhere (just completely closed down their Moscow investment banking office for example (and have a big scandal there as well)).

Sep 4, 2016

Almost certain that DB is a law firm, masquerading as an investment bank. The scandals seem to be never ending:

http://www.cnbc.com/2016/05/06/italy-prosecutor-pr...
http://www.bloomberg.com/news/articles/2016-04-14/...
http://www.bloomberg.com/news/articles/2016-04-13/...
Safe to say that the Tie-Up talks with Commerzbank didn't send a great signal for outlook either.

Sep 4, 2016
East_West:

The derivatives time bomb is huge.

How can you tell from the outside how bad or good a banks' derivatives books are (excluding reading the newspapers)?

Aug 31, 2016

There is a question to the goodies sitting off their balance sheet (derivatives)..

And the fact that they were recently exploring a merger doesnt help either

Sep 1, 2016

Thank you for sharing the information.

Sep 1, 2016

Can someone explain what the derivatives that show up on their balance sheet are? Us balance sheets don't call out derivative balances from what I could tell.

Sep 4, 2016

Curious about this well

Sep 1, 2016
Comment
Sep 4, 2016