What it does: Deutsche Bank Philippines provides corporate banking and investment banking services.
Best known for: being the offshore banking unit of Deutsche Bank AG, a German multinational financial services and investment banking company
Staff stats: more than 2,000 employees
Financials: Php53.06 billion in total assets as of 2021
The good bits: Successful candidates will enjoy a competitive remuneration package that includes a 14th-month pay, annual salary appraisal, and performance bonus.
The not-so-good bits: Many entry-level employees work during odd hours. Insiders said that it’s common for analysts and associates to work on graveyard shifts.
Germany-based Deutsche Bank AG started in the Philippines by having a representative office in 1975. It has provided corporate banking and investment banking services as an offshore banking unit since 1977.
By 2005, Deutsche Bank AG expanded in the country after it established Deutsche Knowledge Services (DKS). It functions as a wholly-owned subsidiary and shared service center for financial, global technology, and operations.
As of 2021, Deutsche Bank Philippines ranked as the 25th-largest universal and commercial bank in terms of assets. The Bangko Sentral ng Pilipinas reported that the company had more than Php53 billion in total assets.
Insider cited the abundance of learning opportunities at Deutsche Bank Philippines as one reason for a productive workplace. For others, the bonuses like the 14th-month pay fuel their motivation to perform well.
While work can be demanding and stressful, employees said that most people are willing to help when necessary. It’s likely because many of them can empathize with the struggles of meeting deadlines and working long hours.
An unhealthy work-life balance presents the biggest challenge for new hires who work on night shifts. Fresh grads should also anticipate overtime work during peak business seasons for the company.
Deutsche Bank Philippines’ local and international competitors include Bank of the Philippine Islands, BDO Unibank, Citibank Philippines, HSBC Philippines, and Metrobank.
In 2020, DKS faced a tax complaint from the Commissioner of Internal Revenue. The case involved whether the Deutsche Bank’s subsidiary foreign affiliates and clients were non-resident foreign corporations (NRFC) that operate outside the Philippines.
The Supreme Court ruled in favor of DKS after presenting evidence that its affiliates and clients are indeed NRFCs. DKS also showed proof that the NRFCs don’t operate in the country.
Deutsche Bank AG’s 2020 corporate social responsibility projects in the Philippines and other Asia-Pacific countries have benefited over 468,000 people. These projects focused on community development, education, enterprise, and volunteer work.
Deutsche Bank Philippines offers an attractive remuneration package for the right candidates. Fresh grads, however, should contemplate if it’s a worthwhile trade-off for potentially working during irregular hours.
Despite a challenging work-life balance, there are plenty of internal mobility opportunities at Deutsche Bank Philippines. In other words, fresh grads won’t be stuck in the same role for several years.
Deutsche Bank Philippines’ general hiring process begins with an online application and ends with at least two interviews. Like most companies, the bank’s recruitment stages have become a virtual process amid the COVID-19 pandemic.
Fresh grads should customize their CVs to fit the job description. Deutsche Bank Philippines expects a cover letter from each applicant.
An HR representative contacts pre-screened candidates for a phone or Skype call, which may last for up to 45 minutes. Applicants should prepare for behavioral questions such as career plans and reasons for joining the company.
Those who pass the initial interview would then speak with the hiring manager. Some previous candidates said that they attended a panel interview, so it’s wise to prepare for one.
Most of the questions during this round will determine a person’s competency and technical skills. The hiring manager will also want to know how a person reacts to workplace situations (eg time management).
It’s rare for fresh grads to sit down for a third interview. If Deutsche Bank Philippines deems it necessary, a candidate would meet with a company executive.
Previous applicants said that they got an employment offer after two to four weeks, depending on the job’s urgency.
Entry-level roles such as accountants and analysts at Deutsche Bank Philippines may earn at least Php20,000. On the other hand, an inexperienced analyst at DKS may earn between Php16,000 and Php18,000.
Fresh grads should remember that academic background, job interview performance, and skills will largely determine their starting salaries. It also helps if they know how to negotiate their compensation packages.
In terms of benefits, insiders said that Deutsche Bank Philippines and DKS offer a generally similar benefits package including:
Fresh grads may find it difficult to join Deutsche Bank Philippines because of limited opportunities. They would have better chances of finding entry-level roles such as analysts and associates at DKS. Most people in these roles finished a finance-related course.
These courses may include a Bachelor’s Degree in Accountancy, Business, or Economics. Computer science and IT graduates may also join DKS as analysts or associates.
Some insiders said that employees may need to ace a panel interview before landing a promotion. Even if someone isn’t keen on pursuing a bigger role, the company still requires them to undergo training.
For instance, analysts may have to complete 200 hours of training as part of their job. The training sessions eventually become useful when employees finally decide to pick among several internal mobility opportunities