Deutsche Bank has just unveiled its 2013 human resources report in which it reveals a lot of data about headcount and pay at the bank last year. Here’s what you need to know.
Deutsche Bank is focusing more on what it calls ‘footprint optimization’, meaning essentially that it’s putting more emphasis on moving jobs (and sometimes people) out to nearshore and offshore locations away from places like London, New York, Hong Kong and Singapore. Its build-out of its Birmingham office has been well-covered, but the bank also opened new service centres in Bucharest, Romania and Pune, India for application development and ‘integrated service centre’ respectively. Deutsche is aiming to reach a minimum headcount of 750 for its larger offshore centres. This has affected graduate recruitment.
Not all statistics related to Deutsche Bank’s female employees are positive. The total proportion of women working at the bank has remained relatively static since 2009 at around 42% and just 33% of this year’s graduate intake were female.
However, Deutsche does appear to be putting more emphasis on getting more women into the senior ranks – 18.7% of directors and managing directors are now female, compared to 15.8% in 2009. This is still a tiny proportion of the total, and there’s no indication of whether these women have made it in front office positions – often the biggest challenge – but it does show some (slow) progress.
The corporate banking and securities division has borne the brunt of job cuts since 2010, since when 2,200 employees have departed. However, headcount decreased by a mere 210 in the division on 2012.
Deutsche still employs far more people in Europe than elsewhere, but Asia has been the focus of its recruitment activity last year, with headcount relatively stable elsewhere.
While average ages for employees at Deutsche in the U.S. and Europe (outside of Germany) is around 40, in Asia it’s a relatively youthful 33. This could suggest recent recruitment has been at more at the junior end, or that bankers target the region earlier in their career.
Again supporting the idea that juniors are being hired in Asia, the average tenure among employees in the region is close to five years, compared to over 10 years in EMEA and nearly eight years in the U.S.
In 2010, riding the crest of the post-crisis hiring boom that afflicted most investment banks, pay per head at Deutsche was a healthy €153.7k ($210k). It has, not surprisingly, been falling ever since and last year was a ‘mere’ €125.8k.