COMMENT: I love working for Deutsche Bank. My colleagues are delusional about pay

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COMMENT: I love working for Deutsche Bank. My colleagues are delusional about pay

I work for Deutsche Bank and I'm fed up with reading all the complaints from people who don't. If you don't like it here, then leave - go and find a better job with better pay somewhere else. You can't? Oh, what a surprise. 

After all the complaints about Deutsche Bank bonuses last week, I'd like to ask my colleagues what they really think they're worth. There's a lot of delusion around this. - For example, there is no way that someone who books $10m selling FX should get the same as someone selling distressed debt. The addressable audience is far bigger for FX, the level of expertise is lower, and the bank's ability to monetize client activity is lower. It's patently ridiculous to pretend this isn't the case. And yet plenty of FX people here (and probably elsewhere) seem to maintain the fiction that they're underpaid. 

So, my message to my colleagues is this: take a long hard look at yourself before you complain again. What makes you think you're worth so much? - If you're trading flow FX with Blackrock there is absolutely no way you should be paid on a par with someone originating financing opportunities with corporates.

Stop comparing yourself to other people who are more vital to the organisation and who generate better revenues than you. And then stop whinging about it in public.

Personally, I think Deutsche Bank is a great place to be. If you work in credit trading at any other bank your job will be far, far less interesting. There's a reason people stay at Deutsche Bank. - It remains one of the most inventive banks on the Street and it has the balance sheet to back it up.

So, if you don't like it here, then leave - you won't find a better alternative. And yes, my own bonus was exceptional.

Have a confidential story, tip, or comment you’d like to share? Contact: sbutcher@efinancialcareers.com in the first instance. Whatsapp/Signal/Telegram also available. Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Eventually it will – unless it’s offensive or libelous (in which case it won’t.)

 

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