Deutsche Bank is making some 18,000 job cuts globally this year, but there are still small pockets of hiring at the firm in Singapore. As we’ve been reporting in recent weeks, these include credit trading, transaction banking, asset management, technology, private banking, risk, and onboarding. Asian investment bankers may not be as sought after at Deutsche, but the bank at least finished a fairly respectable ninth for APAC (international and ex-Japan) investment banking revenue in the year to end-September, according to new figures from Dealogic.
In August, as part of CEO Christian Sewing’s sweeping global overhaul, Deutsche reorganised its investment bank in Asia by folding its financing and structured debt operations into the division, naming James McMurdo as vice chairman of investment banking, and making several other senior appointments. While Sewing has said that Deutsche’s current IB-focused redundancies will affect all regions, he’s also singled out Asia for future growth. Getting a Singapore-based investment banking job at Deutsche in 2019 or 2020 will therefore be difficult, but certainly not impossible.
But is it worth even applying for a job at Deutsche’s Singapore investment bank, given the competition it faces from the dominant players in Southeast Asia? Credit Suisse, DBS and Morgan Stanley were the top-three banks for IB revenue in the region for the first nine months of this year, according to Dealogic.
One of the factors you’re sure to weigh up is how much Deutsche is likely to pay you as an investment banker in Singapore. To find out more about front-office IB salaries and bonuses at Deutsche Bank in Singapore, we looked through compensation figures on Glassdoor across the four seniority levels that the website has sufficient data for: analyst, associate, vice president and director.
How much will your salary and bonus be at Deutsche Bank in Singapore?
Pay at Deutsche in Singapore obviously varies from employee to employee, so the figures in the table below should be seen as approximate guidance. Moreover, we only reviewed high-range annual salaries and cash bonuses for top performers at Deutsche, because they better reflect the earnings of front-office investment bankers.
Deutsche Bank declined to comment on its Singapore pay. As we’ve reported previously, the German firm has a global reputation for paying large salaries, even by investment banking standards. The Glassdoor data indicates that Singapore is no exception.
It’s possible to earn a six-figure salary as an analyst in Deutsche’s front office in Singapore. Analysts can potentially take home S$154k a year in base pay, according to the self-reported Glassdoor figures, although that salary is likely to be for a top-performing third-year analyst rather than for a fresh graduate.
The Glassdoor data suggests that investment banking associates at Deutsche in Singapore are paid about S$210k and can pocket bonuses of around S$65k, depending on performance.
Vice president IB salaries at Deutsche in Singapore are approximately S$280k, while bonuses can reach roughly S$85k at that level of seniority in the front office.
Deutsche directors, meanwhile, have the potential to earn almost S$400k a year and their bonuses can exceed S$100k, according to Glassdoor.
Investment banking salaries at Deutsche Bank in Singapore
Image credit: Anna Anisimova, Getty
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