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)

Best Response
Aug 30, 2016 - 4:04pm
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.

Aug 31, 2016 - 12:59pm

oh no!

**How is my grammar? Drop me a note with any errors you see!**
  • 4
Aug 30, 2016 - 4:22pm

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).

Aug 31, 2016 - 6:16pm

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 - 11:00am

What is your justification for not disclosing the figure?

The fool thinks himself to be a wise man, while the wise man thinks himself to be a fool.
Sep 4, 2016 - 12:51pm
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 - 5:42pm

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-probes-deutsche-bank-fo…

http://www.bloomberg.com/news/articles/2016-04-14/deutsche-bank-found-s…

http://www.bloomberg.com/news/articles/2016-04-13/deutsche-bank-settles…

Safe to say that the Tie-Up talks with Commerzbank didn't send a great signal for outlook either.

Aug 31, 2016 - 9:40pm

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 - 11:11am

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