What It does: Deutsche Bank uses its deep-rooted global network to become a profitable financial resource to companies, governments, institutional investors, and all phases of financial interactions.
Mission: As a global financial force, Deutsche Bank aims to foster economic development and social advancement by directing its services in a positive light.
Size and Presence: Deutsche Bank operates in 9 locations in the United States while employing around 7,700 individuals.
Best Known For: Deutsche Bank is amongst the most reputable global financial institutions with a client-focused business model and relies on its distinctive culture and principles to deliver massive profits.
The good bits: Deutsche Bank promotes genuinely sustainable success by recognizing excellent performance and ensuring collaboration. Everyone is listened to at the organization and they aim to grow with their employees.
The not-so-good bits: Working at Deutsche Bank comes with significant time investments as workers often have to work between varying time zones.
Deutsche Bank developed with an emerging change of finances in 1870. Adelbert Delbrück and Ludwig Bamberger pioneered a team of innovative bankers to challenge the status quo of what conventional banking was at the time.
It was licensed as a joint-stock bank on March 10, 1870, and was created to foster banking transactions between Germany, European countries, and all parts of the world.
Since its inception, Deutsche Bank has been symbolic of its ability to take calculated risks. Hence, it conveniently transitioned to becoming a central figure in German industrialization.
A groundbreaking acquisition of UK merchant bank Morgan Grenfell in 1989 played a symbolic role in the globalization of the bank. This led the bank to enter the US market through New York and a host of other markets.
After over 150 years of existence, the bank still conveniently breathes its mission of fostering economic development by delivering a positive overlay on various investment schemes.
A core aspect of the Deutsche Bank culture is creating an environment where everyone gets a say. It is integral to their work process to make everyone feel, at home, heard, and respected.
Four values guide the growth-oriented environment and these are; integrity, sustainable performance, client centricity, and innovation.
By working through these values, they develop a functional lifestyle guided by sound principles and an innovation that helps them stay relevant and open-minded.
The vibe at Deutsche Bank is one of healthy competition as everyone gets heard. It is friendly yet competitive driving transformation seamlessly to provide employees with a wholesome work experience.
Deutsche Bank uses an elaborate recruitment process to test the mettle of applicants in every phase.
Recruitment commenced with submitting tailored CVs/resumes along with relevant documents in response to different vacancies. The bank provides relevant information on requirements for graduate or intern positions.
Selected graduate or internship candidates are then guided through a plethora of aptitude assessments and interview rounds.
Graduate and internship applicants at Deutsche Bank take on four assessments. These assessments are;
1. Situational Judgment Test - all graduate and internship applicants at Deutsche Bank undergo this assessment test. Candidates are presented with speculative situations and are asked to choose solutions that resonate with them. This timed assessment aims to help the recruitment team understand how compatible candidates are with the values of the bank.
2. Numerical Reasoning - the ability of graduates and interns to analyze numerical problems is tested here.
3. Verbal Reasoning - this assessment aims to understand the English level of graduate and intern applicants. They are tested in different aspects of English with each question lasting 45 seconds.
4. Technical Assessment - for more technical roles, graduates and internship applicants are tested on basic computer knowledge and their understanding of coding.
After the assessment rounds, two interview rounds follow.
The first interview is structured around how compatible the bank’s values are with graduates' or interns' personal qualities. This interview could be in-person or electronically depending on the location of the applicants.
The second interview round is divided into various segments as well. In this round, graduates or internship candidates are linked with several professionals at the bank. This round is more technical than the first.
After completing all relevant assessments, selected graduates and interns are offered employment letters for selected roles.
Being at the forefront of global change, Deutsche Bank is as critical of personal attributes as they are of academic ability. This rigorous selection process has seen them maintain sustainable success for hundreds of years.
Over time, Deutsche Bank has become synonymous with inclusion and growth. To this end, they offer sustainable growth and career progression opportunities for graduates and interns alike.
Graduates and interns are ushered into the bank with an insightful induction where they get inestimable information on the bank’s business model, and technical, and product knowledge.
Graduates gain an extensive introduction to their areas of specialization and are hosted at networking events that help them build the professional relationships they desire.
The bank also combines soft skills training with extensive collaborations to give graduates and interns a boost at the start of their professional journey.
Deutsche Bank claims that its internship programs promise more than interaction with industry-leading professionals. They claim to reinforce proper professional relationships that’ll see interns become global forces of changing themselves.
Interns are offered positions of responsibility and tasked with working with senior professionals giving them a first-hand professional feel.
Their speaker series also lets interns into industry secrets that automated their climb up the professional ladder.
As employees develop professionally, the stars continue to align, sending them sustainable profitable climbs up the professional ladder.
Deutsche Bank takes on a competitive remuneration scheme. Entry-level graduates earn an average of $91,324 annually. They also pay an average of $5,000 in bonuses to employees.
Interns at Deutsche Bank earn around $57,938 annually and are also subject to bonuses.
Deutsche Bank claims to be deeply rooted in community service. They focus on providing essential amenities and providing amenities to ease the population in disaster cases.
They also provide room for employees volunteering to improve the community with their skills. They incentivize employee volunteering and help employees function as mentors, advisors, and advocates.
Deutsche Bank also actively participated in charities through their “matched giving and payroll giving program”.
The latest round of Deutsche Bank’s controversy lies in their over $130 million settlement on charges of foreign corrupt practice act and fraud.
The charges raised against the bank were based on bribery and schemes to hide third-party payments. It was also stated that Deutsche bank violated accounting control rules.