Deutsche Bank’s 2019 compensation report is out. For anyone with the bandwith to still be wondering what salaries are bonuses were like on average at Deutsche’s corporate and investment bank for last year, all is now clear.
Last year, the overall bonus pool in Deutsche's investment bank was down 40% on 2018, to €602m. This might explain some of the complaints when bonuses were announced earlier this month. However, given that the number of staff in Deutsche's corporate and investment bank also fell 40% over the same period, people there were even.
This is how average pay stacked up across the investment bank in 2018 and 2019:
Nonetheless, there was some pain at the top end. Individual material risk takers at Deutsche's investment bank (typically senior bankers and traders) received salaries of €664k for 2019, plus deferred stock bonuses of €447k and more immediate bonuses (including cash) of €530k.
The average material risk taker at Deutsche therefore took home €1.5m last year, down from €1.7m in 2018. The chart below shows the split.
If you're junior at Deutsche Bank, none of this is likely to bother you. In line with the bank's policy for the past few years, there are no individual performance bonuses for anyone at assistant vice president level or below in the corporate hierarchy.
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