Deutsche Bank reduced salaries and bonuses at the investment bank, which also includes sales and trading, by 14 percent to 5.34 billion euros last year from 6.24 billion euros in 2012, the company said. The compensation fell 23 percent in the fourth quarter from a year earlier. “We are keeping an eye on the competition and the pack that we’re competing with for talent,” Jain said. “What we are doing is something the whole industry is doing at varying speeds.” The bank hasn’t lost a “material” number of investment bankers after overhauling its compensation system, which includes staggering annual bonuses over a longer period, he said. [Bloomberg]

Comments (6)

  1. Posted by guest | January 29, 2014 at 2:42 PM

    mmmm….cupcakes…

    -frosting quant

  2. Posted by Guest | January 29, 2014 at 2:52 PM

    That's cuz there's not many place to jump ship to.

  3. Posted by Guest | January 29, 2014 at 3:01 PM

    The moment my MD gave me a Christmas card with a wrinkled $100 inside, I knew… I knew…..

    - DB Traffic Quant

  4. Posted by UBS FICC VP | January 29, 2014 at 4:32 PM

    That you were the top performing VP in your group? That was my reaction.

  5. Posted by Guest | January 29, 2014 at 4:38 PM

    Top performer also gets a $25 gift card to Applebee's I believe.

  6. Posted by How it is | January 29, 2014 at 11:56 PM

    DB Jacksonville>>>Cap One McLean > SunTrust Atlanta > GS Houston