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Generous cash component to bonuses at Deutsche

11 February 2009

Sarah Butcher

We omitted Deutsche Bank from yesterday’s ranking of banks by bonus policy, but now have some belated colour on their payouts.

Although the investment banking bonus pool at DB is down an estimated 60%, it seems the bank has been fairly generous.

According to a senior source at Deutsche, bonuses up to £150k are all in immediately accessible cash, with no vesting restrictions.

Above this amount, cash payouts are being deferred for up to four years, but during the deferral period they will earn interest at LIBOR.

Unlike other banks, Deutsche has nothing in the way of clawbacks.

Average compensation at the investment bank was €256k (£229k) for 2008.

Comments (20)

DB were very meritocratic rather than axing everyone 60% across the board - several (particularly at Assoc/VP level) I know were actually up on last year.

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Comments (20)

  • you should quoted FX Trader (who commented on the previous article) for giving you the hint. ahahaahahahah

    w*nkerbanker 11 Feb 2009

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  • This was entirely our own work (not really). Just had to verify that he +Happy Ops girl were speaking the truth.

    Sarah, Editor, eFinancialCareers 11 Feb 2009

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  • DB were very meritocratic rather than axing everyone 60% across the board - several (particularly at Assoc/VP level) I know were actually up on last year.

    Although I thought the cash cut-off was £100k not £150k - might be different in diff areas?

    Structurer 11 Feb 2009

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  • It was an absolute pleasure giving my team their bonuses yesterday. Everyone had had their expectations managed massively down, thinking they'd be down 60-70%, when in fact most of them did a lot better than that, my best people almost at where they were last year. So atmosphere was pretty good people doing better than they hoped, except a couple of MDs down over 80% who frankly should be thankful they still have a job.

    Deutsche Bank MD 11 Feb 2009

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  • Deutsche Bank rock. I love the place. The meritocratic nature where I went from analyst to associate to AVP to Vice President in consecutive years, how well they treat young people who have potential, the culture, the genuine 'one firm' integration, how they didn't punish good people because of their credit/equity prop loss, and their bright future grabbing market share from failing peers.

    Wizard 11 Feb 2009

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  • 150 k in cash....do not know about that...i have it on good authority(and she makes a good breakfast does the lil lady ) that that is wrong  ..or is she hiding it from me.....where do you get your facts from Sarah

    RecentHouseHusband 11 Feb 2009

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  • The 150k figure may be 33% too high, although I had it on good authority that it was correct.

    Sarah, Editor, eFinancialCareers 11 Feb 2009

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  • Sarah, it was £100k for some areas, £150k for others.

    Deutsche Bank MD 11 Feb 2009

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  • Deutsche Bank MD ????  AND Sarah..WRONG AGAIN !!
    Be careful with these figures..you will only annoy people/me. 
    I can personally vouch for the fact that certainly for some the figure started lower than £100k..it sounds petty going on about figs..but dont state what is evidently not correct
    Deutsche Bank MD(?) DONT UNDERSTAND WHERE YOU APPEAR TO BE GETTING YOUR "FACTS "FROM

    GERman 12 Feb 2009

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  • Wizard yo really must be on something man, you have got to be kidding me, don't get me started with DB. In fact politics etc is MORE than other houses..best thing they ever did was to get rid of many senior managemenst, things might start changindg One firm integration??? meritocratic nature? seriously, are you in HR ??

    max1 12 Feb 2009

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