Is Deutsche Bank one of your top choices for starting your investment banking career? Getting in isn’t easy, just like with other top investment banks.
However, you can boost your chances by understanding what makes the firm different from other investment banks, getting familiar with their recruitment process and preparing well for the interviews. This Deutsche Bank interview guide will help you understand what to expect and give you insights for landing your dream job at the firm.
Deutsche Bank is a German multinational investment bank and financial services company based in Frankfurt. Founded in 1870 to support foreign trade and boost German exports, it has grown into one of the top banks for investment bankers. With offices in around 57 countries, it holds a strong presence across Europe, North America, and Asia.
Deutsche Bank's main business divisions include the Investment Bank, the asset management arm DWS, the Corporate Bank, and the Private Bank. Within its investment banking sector, there are two key divisions:
While its performance in M&A and equity capital markets doesn’t match up with other bulge bracket firms like Goldman Sachs, JP Morgan, and Morgan Stanley, Deutsche Bank still holds a strong position in the financial industry. For example, it ranked 12th globally in investment banking fees in 2023 and climbed to 8th place in the first half of 2024. Additionally, Deutsche Bank frequently secures a spot among the top 10 for fees in debt capital markets and syndicated loans.
In most locations, there are three interview rounds at Deutsche Bank. The IB graduates recruitment process at the firm includes an online application, online assessments, a virtual interview, assessment centre, and final offer.
Let's have a look at each of the stages of the recruitment and interview process at Deutsche Bank below.
Stage 1: Research Opportunities and Apply
The first step of the Deutsche Bank recruitment process is sending your application. But first, you’ll need to research the opportunities available and note the application deadlines. If you are about to complete college or graduated within the last 12 months, you can apply for the Deutsche Bank investment banking graduate program which lasts one year.
If you graduated more than 12 months ago, it's best to apply directly to other open positions within Deutsche Bank's investment banking division. The bank also visits various colleges to identify and recruit top talent. Be sure to check the events section on their official website to see if and when they'll be visiting your campus.
Once you have found the most fitting opportunity, submit your application through their portal with a polished CV and completed application form. Pay special attention to matching your qualifications against their specific eligibility criteria for the role.
Stage 2: Online Assessments
If the Deutsche Bank recruiters like your resume, you will be invited to take online assessments. The stage begins with an initial eligibility screening. If you turn out to be eligible, the next step in the stage is a Situational Judgement Test in all regions except the US. This test examines your decision-making abilities in banking scenarios to let the recruiters know how well you align with the bank’s values. You'll have a two-week window to complete this first evaluation.
👉 Read our article about the Situational Judgment Test and find out everything you need to know about this part of the interview process.
Then you’ll take Behaviour and Ability Assessments that examine your personality traits and analytical capabilities. These tests specifically assess your critical reasoning skills. Deutsche Bank provides detailed feedback reports to offer valuable insights into your performance and areas for improvement.
Stage 3: Virtual Interview
After successfully completing the online assessments, you’ll progress to the virtual interview stage. If you’re in the UK or APAC region, this may take the form of a recorded video interview. In this setup, you won’t interact with interviewers in real time; instead, your responses to a series of questions will be recorded and reviewed later via the platform used by Deutsche Bank.
In other regions, this stage is typically a live virtual interview, which could be your first direct interaction with Deutsche Bank's hiring team. These interviews are usually scheduled about six weeks after you submit your application, giving you valuable time to prepare. Use this period to deepen your knowledge of Deutsche Bank’s investment banking operations, analyze recent deals, and understand its position in the market.
Stage 4: Assessment Centre or Super Day
If you successfully navigate the virtual interviews, the next stage is the super day or assessment centre. It’s the most intensive phase of Deutsche Bank's investment banking recruitment process. You'll participate in a full day of evaluations, typically at one of their major offices. The day includes competency assessments that test your analytical abilities and technical knowledge of investment banking fundamentals.
You may also get a rigorous case study analysis, followed by a technical interview where you'll need to demonstrate your understanding of valuation methods, financial modeling, and market dynamics. Expect multiple rounds of interviews with senior bankers who'll evaluate both your technical abilities and cultural fit.
👉 If you want to learn more about the process during the Super Day, check out our article on the Investment Banking Superday!
Stage 5: Joining Deutsche Bank
If you successfully complete the Assessment Centre, Deutsche Bank typically aims to provide their decision within a week. If you’re selected, you’ll receive an offer package and have up to two weeks to decide. This timeframe gives you the opportunity to thoroughly review the terms, consider potential negotiations, and make a decision about whether the offer aligns with your goals.
Once you accept the offer, you'll gain access to Deutsche Bank's Welcome Hub. The platform provides essential onboarding materials, helps you connect with future colleagues and outlines what to expect in your initial weeks. The bank ensures you're well-prepared before your first day in investment banking.
The timeline of the recruiting process at Deutsche Bank from initial application to final offer can take one to three months. However, the timeline might be longer or shorter depending on individual cases and regions.
You can keep track of your application process by signing in as a 'Returning Candidate' through Deutsche Bank’s online application tool. You’ll only need your email and password to know whether you’re awaiting a decision, are about to move to the next stage, or have been disqualified at any step.
Deutsche Bank recruiters expect you to have a solid understanding of the role you’re applying for, the investment banking industry, and the firm itself. So, during your interview, you should be ready for questions that test your knowledge in the following areas:
Preparation is key to standing out in your Deutsche Bank interview. Here’s an overview of what you need to know to excel and leave a lasting impression.
Know the Firm Inside Out
Study Deutsche Bank's recent major deals, focusing on their strengths in specific sectors and geographical regions. Pay particular attention to their European market leadership, especially in Germany, and their strategic focus areas like M&A advisory, debt capital markets, and restructuring services.
You can also track Deutsche Bank's quarterly earnings reports, current CEO's strategic vision, bank structure, and recent organizational changes. Also, understand their competitive position against other bulge bracket banks, their unique cultural aspects stemming from the German heritage, and their post-2019 transformation strategy focusing on core investment banking strengths. All this information is available on the official website, and will help you show your interest in the company.
Practice Behavioral and Fit Assessments
Behavioral and fit assessments play a crucial role in the recruitment process for nearly all top investment banks, including Deutsche Bank. That’s why thorough practice is essential. Situational judgment tests often assess how you would handle scenarios like client interactions, team conflicts, or ethical dilemmas.
To stand out, use the STAR method to craft clear and memorable answers that highlight your leadership, teamwork, and problem-solving skills, tailored specifically to the investment banking environment. Be prepared to articulate your motivation for pursuing a career in investment banking and explain why Deutsche Bank is your top choice.
Additionally, Deutsche Bank’s recruitment process includes ability tests, so it’s important to practice quick mental math, market sizing problems, and logical reasoning exercises to build your confidence.
👉 Try our Stress-Question-Tool and practice tackling the behavioral and fit assessments!
Practice Case Studies and Technical Questions
Investment banking case studies at Deutsche Bank usually focus on valuation, M&A analysis, and leveraged buyout scenarios. You might be asked to value a company using comparable analysis, calculate accretion/dilution in a merger, or determine the optimal capital structure for a leveraged buyout. Example: "How would you value a private European manufacturing company?"
Technical questions focus on core investment banking concepts. Expect detailed questions about DCF analysis, trading comparables, and transaction experience. For example: "Walk me through the impact of depreciation increase on three financial statements" or "What's the difference between enterprise value and equity value?".
👉 Check out our case library and prepare yourself for success in your case interviews!
Conduct Mock Interviews with Peers
Mock interviews simulate the actual Deutsche Bank interview environment. So, having effective sessions can help you manage stress and improve the quality of your responses. You can do mock interviews with peers, friends, or family. Participating in multiple mock sessions with different interviewers can help you practice handling various interviewing styles and unexpected questions typical in investment banking interviews.
You can also record your mock interviews to analyze your body language, tone, and response structure. The people you practice with should be able to give helpful feedback, but it's a good idea to also observe yourself and spot anything they missed.
👉 Find peers at our meeting board to practice your interviews together?
Work with a Coach
If you really want to save prep time, receive expert feedback, and increase your odds of acing the interview, consider working with an IB interview coach. An experienced investment banking interview coach provides insider knowledge of Deutsche Bank's specific interview process and culture. They can identify gaps in your technical knowledge, refine your answers to common questions, and provide real-time feedback on your interview performance that you can't get from self-study or non-experts.
Your coach will help tailor your story to Deutsche Bank's expectations, strengthen your financial modeling skills, and prepare you for the intensity of the Super Day. They can also provide industry insights and help you understand the nuances of different investment banking roles within Deutsche Bank to improve your interview success rate.
👉 Explore our coach overview to find an expert who will help you excel in your Case-Interview!
Breaking into Deutsche Bank’s investment banking division is tough, but with focused preparation, you can stand out.
Start by thoroughly understanding Deutsche Bank’s structure, values, and recent deals—this shows genuine interest. Prepare for the behavioral assessments with STAR-method responses that highlight leadership, teamwork, and problem-solving.
Brush up your technical skills on topics like DCF analysis, valuation, and financial modeling, and practice case studies to handle challenging questions. Mock interviews with peers can help you to refine your answers and build confidence, but consider working with an IB coach if you want expert guidance.
With the right strategy and persistence, you’ll significantly boost your chances of landing the job. We wish you best of luck! 🚀
