About Deutsche Bank
Deutsche Bank is a German bank that was founded in Berlin in 1870. They now have their headquarters in Frankfurt, work in 58 countries across the globe, and are dual listed on the German and New York Stock Exchanges. The company is a universal bank meaning that they have four major divisions: private, corporate, and investment banking, and asset management. In 2020, their total assets were valued at over a trillion euros, making them one of the biggest financial companies.
Deutsche Bank Application Process
The recruitment process includes: online application, online assessments, and multiple interviews. Most people report that it takes about a month, but this can be longer depending on what is asked of you. There are different expectations depending on location and sector that you have applied for, so make sure that you research the details of your chosen role before applying.
While good numeracy skills are important, Deutsche Bank accepts applicants with degrees in any discipline as long as they can prove that they are suited to the role. There are comprehensive training programmes that are designed to help those in their early career develop the necessary technical skills, so don't let this deter you.
A key tip for applying to Deutsche Bank is to be quick. Their applications are on a rolling basis, which means that once they have enough applications they will close the opportunity before the deadline. If you see a role that piques your interest, put in your application as quickly as you can in order to make the cut.
For the online application you will be asked to submit a CV and answer some motivational questions about why you want to work for Deutsche Bank. It is advised that you also provide a cover letter so you can give as much detail about you, what it is that attracted you to Deutsche Bank, and why you are interested in the particular division you have applied for. This information can give you the edge over another candidate who does not show their research and enthusiasm as recruiters are looking for those who show commitment to the company and the potential for a life-long career.
Deutsche Bank Situational Judgement Test
Once you have submitted your online application, you are invited to take a mandatory situational judgement test. This test is given to assess how well your values align with Deutsche Bank's by presenting hypothetical workplace scenarios and asking you to choose the most effective way of handling the situation.
These tests are not based on prior knowledge, but are more about personality testing and predicting how you are likely to behave in the workplace. However, you can still prepare for these by researching the company and finding out more about how they practice business, so that you can make sure that your answers are more in line with what they are looking for. Deutsche Bank has a culture guide that thoroughly explores the company's values and work ethos, which is a great resource to use to learn more about whether or not it is the place for you.
Taking practice situational judgement tests is a great way to become familiar with the kinds of questions you will be asked and how they are marked. The test that Deutsche Bank will give you will be tailored towards real-life experiences on the job that you have applied for, but it is helpful to understand the kinds of responses to professional situations that are expected.
Deutsche Bank Numerical Reasoning Test
Numerical reasoning tests are widely used in financial jobs as proficiency with numbers and numerical data is vital to the sector. These tests are used to show those who have stronger skills with numbers and processing financial information, which can be a helpful predictor for who will perform well on the job.
A numerical reasoning test will most likely take the form of a financial reasoning test, which presents questions as financial questions regarding profits, currency, and tax. These will require skills such as arithmetic, ratios, percentages, and reading graphs.
Check out our 2021 guide to numerical reasoning tests here.
Deutsche Bank Verbal Reasoning Test
Employers like Deutsche Bank like to use verbal reasoning tests to help identify candidates with strong communication skills and the ability to process information at a rapid speed. Verbal reasoning skills are just as important as numerical reasoning, even in the financial sector, as they show you are able to work with clients, perform well under pressure, and have good comprehension skills.
The final stage of the process is the interviews, and is the most time consuming as you will have to meet with multiple hiring managers. Usually, these will be vice presidents of the division that you have applied for, sometimes candidates also meet with HR.
Depending on what you have applied for there may be a technical interview that will go over previous experience and your understanding of relevant concepts and skills.
Deutsche Bank interviews are heavily motivation based, meaning that they want to be convinced that you are invested in the role and in the company even before you start. This passion and enthusiasm will set you apart from other candidates as it shows that you are willing to learn and understand how to apply your previous experience to the Deutsche Bank goals. Research tips from Deutsche Bank include reading their annual report, identifying why they are different from other banks, and why you are more suited to the role you have applied for than any other department.
Some of the key values and skills that Deutsche Bank are assessing during their interviews are:
- Drive and proactivity
- Technical and numerical ability
- Judgement and integrity
- Communication and influence
- Critical reasoning
- Business acumen and awareness
If you can reach out and speak to current staff, that can be a hugely helpful resource in finding out more details about the everyday working of Deutsche Bank and what will be expected of you once you're there. You should also go through your previous experience and find connections between the skills you have and what Deutsche Bank are looking for - this can be especially impressive if you do not come from a financial background as it shows diverse thinking and how you can bring a new perspective.