Deutsche Bank analyst bonuses: 2nd years happy, 1st years not
Deutsche Bank bonuses were announced on Wednesday. Deutsche Bank isn't commenting, but juniors at the bank say Deutsche's second year analysts were much happier than its first years.
Deutsche's first year analysts in London received bonuses of just £10k ($13k) to £30k according to insiders. Second years at Deutsche are understood to have received bonuses of £30k to £50k.
This is in addition to their salaries of £65k and £70k respectively.
"The mood across the floor ranged between okay to bad," says one first year analyst at Deutsche. "Lower bonuses were partially expected due to the climate and to rumoured low numbers across the street, but people were quite disappointed nonetheless."
As we reported earlier this week, Morgan Stanley analysts are also feeling unloved.
Low bonuses are unsurprising given that global investment banking fees were at an 11-year low in the first half (according to Dealogic). Deutsche Bank has also been spending heavily on hiring new senior bankers and might be disinclined to be overly generous to juniors who can be easily replaced with new graduates anyway.
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