Compensation Watch ’22: Deutsche Bank Strats
Even discounting the discomfiting feeling aroused by having cops routinely sniff around your place of work, there are lots of good reasons to perhaps be considering an exit from Deutsche Bank. This is apparently especially true if you happen to be a member of its strats team, which had seen a number of senior people put in their walking papers and can’t seem to find anyone to replace them. And there’s more to it than just not wanting to have to live with the shame of having “Deutsche Bank” appear on your résumé for the rest of your life.
Sources internally say the exits were spurred by poor pay, overwork, and a decision to place the strats under the central risk officer, meaning they weren't classified as front office employees and received smaller bonuses as a result.
Well, it’s apparently more expensive to lose anyone worth a damn on your strats team than it is to pay them, even for Deutsche Bank, so we’ve got good news for those who haven’t yet found an exit.
We understand that the salary rises of 10%-20% are being dispensed in a targeted manner, implying that the people DB can least afford to lose will get the most bountiful increases.
Well, maybe it’s more like OK news.
One DB strat says that even after the most recent increase, pay is still below rivals. "DB strats were given no annual pay rise of inflation adjustment for the past few years," he claims.
Deutsche Bank just hiked salaries for its strats by 10-20% [efinancialcareers]
