Six learnings from Deutsche Bank’s ‘Unofficial Guide to Banking’
October is the month. If you want to apply for an investment bank's graduate programme, starting July 2015, you need to do so in the next four weeks, or so. If you want to apply for a graduate job at Deutsche Bank you need to do so by November 2nd.
With this sense of urgency in mind, Deutsche Bank has been pushing its 'Unofficial Guide to Banking', the informal DB take on banking careers which (we believe) has been in existence since circa 2008. It's not clear whether the guide has been updated for the current crop of aspiring bankers, but it contains plenty of illuminative points for anyone wondering how Deutsche (unofficially) sees the world.
1. Deutsche Bank says a banking career will make you rich, but not that rich
Specifically, the guide says: 'Will a job in banking make me millions? You may earn more than in another industry, but a private jet will still be a stretch.'
2. Deutsche Bank says you can't just pretend to be passionate about a banking career
“To be successful, you must be able to demonstrate passion for your work. Genuine passion is hard to fake.”
3. Deutsche Bank says that - yes - you will be worked to death as a young M&A banker
"But before you decide [to work in corporate finance], also be aware that the first year will be the hardest working year of your life."
4. Deutsche Bank says that finance jobs in banks are better paid and more interesting than working for the Big Four
The guide claims that banking finance jobs are for people who are, "willing to work hard, learn on the job and take on more responsibility for better rewards than in a similar role within an accountancy company."
5. Deutsche Bank says don't bother with the trading floor if you're emotionally fragile
"You’ll need to be confident, quick to learn, sociable and assertive when needed...This is a role for the thick-skinned!"
6. Deutsche Bank says that you can judge what a bank's like to work for by its corporate social responsibility initiatives
"Check out their [banks'] corporate social responsibility activities too – always key to the culture of an organisation." [Deutsche Bank has a full report on its own CSR initiatives here.}