DB - which group to choose? - London

Do sector teams in London also cover Germany? Or do they have their own industry coverage based in Frankfurt for that region?

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The only part I can agree about is choosing teams based on culture. Rest is largely misinformation - as someone who worked there for 5+ yrs and continue to have lots of friends there and see them on deals.

Industrials is by far the best team at DB. It’s one of the strongest on the street.

TMT relatively weaker than US banks but has good deal flow although more financing than M&A.
Consumer - historically not the strongest, Heard good things about the new guy from BoA leading it. 
REGLL - ok but sweatshop. Decent M&A and financing flow.
There is no M&A focused team at DB with juniors but there are MDs who specialise in M&A and they’ve hired a few heavy hitters from elsewhere recently. Don’t know if this changed recently.
LevFin is a good team and activity is picking up again. Like the team there and work with them a fair bit on deals. One of the strongest on the street.

Corp and SSA DCM also nice people who I see on deals and one of the stronger ones on the street.

ECM Europe excluding dach is covered out of London. They don’t just do LSE as indicated above. Didn’t work a lot with them as on the debt side. 

Don't listen to this guy, he obviously doesn't work there as all of his info is inaccurate

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Incoming intern. appreciate the detailed answer. Besides the quality of each teams, I assume we should also look at chances of conversion to FT especially given the poor job market environment. From that perspective, what are the teams to avoid? For instance LDCM/LevFin is considered a top group but heard that getting the return offer is a grind

element_rush

Im at DB, likely saw your CV today along with all the other off cycles. Congrats on getting the offer. Pointers on team selection:
 

• Healthcare: avoid like the plague, awful culture and deal flow 
• Industrials: Emea head is a deal machine, but you will get grinded hard. High churn, some toxic mid level guys, but great learning experience, strong exit opps. Thick skin essential
• TMT: probably one of the best sector teams at DB, perpetually growing, strong MDs. Reasonable mid levels to some extent, but bloated at VP level, so it can get tough for juniors. Overall a strong choice
• LevFin: Strongest product team at DB, and one of the best on the street. Downsized from 40+ last year to 27-28. Definitely has a lot of tough characters who will make your life difficult, but incredible deal flow on the left. Hard to provide insight on this one since its a product vs sector question
• REGLL: Strongest REGLL team on the street last year. Bit lean considering deal flow, juniors up to vps grind hard. Don’t join unless you have a clear interest in RE or Gaming- at the end of the day it’s all corporate finance, and people do lateral, but it’s harder to succeed if you don’t care about the sector
• Consumer: Strongly disagree with comment above, it is quite outdated and out of the loop. DB hired about 3-4 MDs in consumer, incl former head at CS, team is definitely on the up. Also grind hard cause there are no capable guys at all at the mid level, since team basically didnt exist a year ago

DB Industrials is tough but I wouldn't go so far as to call it toxic. It's great experience if you're willing to put in the work. WLB is a consideration as the Industrials juniors are always the last to go home.

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Thanks for sharing! Can you please share your knowledge, if you can, of the return rates in these groups? That'd be truly helpful. Thanks again in advance!

Thanks for answering.