Do you want to work for Deutsche Bank's corporate and investment bank? Faye Woodhead, Deutsche’s head of graduate recruitment globally (or to be precise, Deutsche's Head of Global Graduate Governance, Planning & Strategy), has agreed to respond to some of your questions on graduate jobs and internships.
We started the process by asking Faye six questions below. Faye has answered some of your questions below that.
Q: Some banks tend to vary their graduate recruitment numbers a lot year-on-year, but we understand that Deutsche is fairly steady - is that right? How many students do you expect to hire globally this year?
Faye: Deutsche Bank has taken a measured and considered view to our graduate pipelines, and takes a long term view when considering junior talent and needs for the future. Restricting that pipeline in years where market conditions are more challenging may result in a talent deficit in future years. That said, we respond to businesses’ individual needs and requirements, balancing long term needs, and ability to offer a high quality experience for all graduate and intern hires. Where we are seeing some changes is in the location of our campus hires. As Deutsche Bank builds its footprint in locations such as Jacksonville, Florida, Cary, North Carolina, Birmingham, UK and Pune, India, we are seeing an increased appetite for entry level hires by various businesses. More information can be found via our careers portal at www.db.com/careers. In conclusion, and in light of all of these points, Deutsche Bank’s Class has remained relatively consistent over the past 5 years.
Q: Can you talk us through your application process? What's the main reason candidates with good academics are rejected by Deutsche?
Faye: All applicants for Deutsche Bank’s graduate internship, training and pipeline programs complete an application online at db.com/careers. As part of this application candidates are required to share details regarding their respective work experience, extracurricular activities, academic achievements (inducing achieved/projected grade results), leadership experience and complete a online numerical reasoning test. Based on this application, candidates are then screened against several competencies and considered to be progressed to interview stage.
All applications are reviewed in line with Deutsche Bank’s core competencies and the graduate profiles needs of the firm. However, Deutsche Bank acknowledges that there are a vast number of talented and accomplished graduates in the market place. We are continually impressed with the caliber of applicants received, but in line with hiring needs, and in line with all graduate employers, must sift candidates who join us at interview stage.
Q: Which are your biggest divisions for graduate recruitment?
Faye: Graduate Recruitment is a strategic priority for all divisions of the Bank and as a firm we are committed to attracting and retaining top graduate level talent. In line with business demand Corporate Banking & Securities has historically taken on the largest number of graduates in the UK, although as our Deutsche Asset & Wealth Management and Transaction Banking businesses grow, we anticipate more opportunities in these businesses as well
Q: Have you seen any reduction in students' interest in banking careers?
Faye: At Deutsche Bank, overall interest in graduate opportunities and application volume has remained relatively steady. However, we have seen a shift in what prospective graduates value in a career. Graduates seem increasingly focused on career opportunities that offer long term growth, development, mobility and flexibility.
Q: What 3 pieces of advice would you give students applying for work at Deutsche?
Demonstrate integrity, honesty and teamwork
Display a passion and interest in the industry – do your research
Be genuine. Deutsche Bank is committed to attracting candidates diverse in thought, experience and background. Candidates should be authentic in the application and interview process to portray their unique skill set.
Q: What differentiates the culture at Deutsche from the culture at other top investment banks?
Faye: At the core of Deutsche Bank’s culture is integrity, sustainable performance, and innovation. Deutsche Bank attracts and develops talented individuals and fosters a culture of teamwork and partnership
Your questions to Faye:
1. I'm looking to apply to Deutsche Bank markets having interned at another large investment bank this summer and was wondering if it is worth me applying for the graduate scheme - or do you fill almost all your spaces via the internship and thus it is best to apply to to the summer programme?
Faye: The internship program does indeed serve as pipeline to the full time Graduate Training Program, we are committed to attracting high calibre intern candidates with the view to convert them to full time Analysts and Associates. However, we are also looking for final year students from campus to join the Graduate Training Program as we value those candidates who have had diverse experiences during the summer. We are currently accepting applications into all divisions, and would encourage you to apply via our careers portal at www.db.com/careers. We interview on a rolling basis, and look forward to receiving your application.
2. Thank you for your offer to ask questions about opportunities for recent graduates. I have already participated in a graduate program (class 2008) at Deutsche Bank. Overall I worked three years at Deutsche (Moscow), that includes the graduate program. Later I resigned to study for my master degree at Cambridge. Now I am a graduate again and wonder which program would be relevant now for me?
Faye: Our Programs offers graduate level candidates a bespoke introduction and overview of the bank and industry, exposing new hires to their global network and establishing the foundations of a successful graduate career. While it would be unusual for a graduate to go through the program twice, we consider each individual case carefully and take into account his or her divisional interest. We would recommend you attend Deutsche Bank’s on campus recruitment events at Cambridge and visit our website at db.com/careers to learn more about the graduate opportunities available.
3. Unlike many other banks, your graduate schemes are only open to those who have graduated in the past 12 months. Your professional hires are aimed at those who already have experience working in a bank. Am I right in saying that you don’t have any opportunities to offer graduates that have graduated more than 12 months ago?
Faye: We would encourage candidates who have completed their degree 12+ months prior to explore professional hire opportunities as lateral roles are not solely available to those candidates with multiple years of work experience. To explore available opportunities candidates should explore our professional career site on db.com/careers.
4. I’m Italian and am interested in a job in accounting, auditing and control. I have a bachelor in economics and finance and am wondering whether to do a 12 months pre-experience masters in auditing. This won’t give me an MSc (which takes 2 years in Italy) but will give me a masters qualification. Will it matter that I don’t have a full MSc if I want to apply for Deutsche’s auditing trainee scheme?
Faye: Deutsche Bank's Training Programs are renowned for the knowledge foundations they create in all hires, irrespective of degree subject, and hence whilst we would never discourage you from pursuing a masters, we are degree 'agnostic' when it comes to academic backgrounds - infact we celebrate the diversity of thought our hires bring with their varying degree subjects. Hence your degree in economics and finance will put you in a strong position for any role in our Finance and Risk businesses. We will teach you what you need to know in order to be successful in your chosen division. So, whether you chose to go on to study your masters or not, you are eligible for our programs, as long as you have achieved a 2:1 or equivalent (109-110 in Italy) at undergraduate level
5. I have 1-2 years experience in IT (non-financial services) and want to move into banking. Would I need to apply for a graduate role or an experienced role?
Faye: Deutsche Bank has award winning Technology platforms - our aim is to deliver world class technology and operations solutions to support and enhance our business, maximise performance and establish GTO as the employer of choice for talented people. To achieve this, we believe it is critical to recruit and develop the most diverse and qualified talent in the market - so we are delighted to hear of your background and interest. With two years experience you should visit our professional careers portal at www.db.com/careers to discover which of our opportunities you would be most suitable for. Good Luck!
6. I interned at another large bank and am thinking of applying to work at Deutsche Bank. Do you fill all your positions with summer interns?
Faye: We are currently accepting applications for our 2014 Global Training Program and would encourage you to visit our website at db.com/careers to apply online. We interview on a rolling basis, and look forward to receiving your application.
7. Could you be more specific about what differentiates DB from its competitors? And is it possible to be recruited onto your global analyst program without having done an internship or summer program at DB?
Faye: At Deutsche Bank, we encourage you to think for yourself. We believe that by working collaboratively with a culturally diverse team across the globe, you can use your individuality to drive forward innovative, market-leading solutions. We believe you will have an impact within the Bank and beyond, you’ll also be given the support, training and voice you need to build a rewarding global career where anything is possible. The support and ownership of the Graduate proposition at Deutsche Bank is something we believe differentiates us - and as referenced last week, our commitment to hiring junior talent year after year.
Candidates interested in the Global Training Program are not required to have completed an internship with Deutsche Bank. In fact, we are currently looking for final year students to join us and value those candidates who have had diverse experiences during the summer. We are currently accepting applications into several divisions, and would encourage you to apply via our careers portal at www.db.com/careers. We interview on a rolling basis, and look forward to receiving your application.
8. What specific skills/requirements do you look for when interns submit their application?
Faye: I believe we recruit highly intelligent graduates who are ambitious and adaptable. They have degrees in many different disciplines. Even though good levels of numeracy are important for some roles, not everyone needs a formal mathematical or financial background. We have very comprehensive training programs that will give you all the technical knowledge you’ll need to build a career with us. Above all, we’re looking for entrepreneurial people who thrive best in a diverse culture where innovation and agile thinking abound. Demonstrate your interests - academia is important but a rounded, and diverse portfolio of skills - whether technical, musical, whether they are based in the arts, science or business, is paramount.
We also ask that In the UK applicable candidates for our Global Training Programs should be in their final year of study and have achieved a 2:1 or equivalent.
9. What is the best answer to this question in an interview: "How do you de-stress?”
Faye: We encourage candidates to be genuine and open throughout the recruitment process. Interviewers are interested in getting to know the candidates as individuals and we would encourage students to be authentic. If you are probed in an interview to share how you manage stress, provide examples of how you've done so in the past. Take the opportunity to showcase what you do outside of your studies - again, sport, music, public speaking, dance, the arts, travelling, or seeing friends and family. Use examples from university, prior work ex, think back to how you've managed exam times or prep for the interview itself. Be authentic and genuine. At DB, it’s important to know that we provide a network for every hire that joins the bank, consisting of a combination of mentors, buddies, managers, alum networks, H.R specific support - there is always someone to help in those more intense working moments.