Cons: pay is WELL below market value across front, back and middle office functions. People are generally jaded due to low P&L generation as well as less deal flow due to DB's recent reputation on the Street. Because of the aforementioned factors, DB is losing out on young talent rapidly because they are unable to compete with comparable offers other investment banks are giving to those who have decided to jump ship. Moreover, recruiters are actively reaching out to and poaching Deutsche employees due to the current state of the place. It's sad because in its hey-day, DB was probably one of the top European investment banks to work for and now everyone talks about it as though its a modern day Titanic.
Senior managers are also being pushed out due to being too expensive. Even those higher-ups who do generate P&L have been let go because Deutsche simply cannot afford to keep them on payroll. Cost-cutting is the name of the game and it has sadly made for a very angry and frustrating work environment.
Lastly, Deutsche's infrastructure is so broken and bureaucratic it makes it virtually impossible for front office to generate new business. If a counterparty wants to set up a subaccount to trade a certain product with DB, the process takes weeks when it should only take 10 minutes. If an entirely new client wants to trade with us, forget it... that process can take months. Sometimes, by the time an account gets up and running to trade, the client is so disenchanted with our disorganized onboarding process that they decide the hassle isn't worth it.
Overall, I gained a lot of knowledge during my three years at DB. It was honestly an awesome place to start a career and build a decent nest egg, but if you're looking for A-grade comp at an uber competitive investment bank, look elsewhere as DB will only provide you with enough to get by and the place itself isn't terribly competitive because they can't afford to be.
