Deutsche Bank engineering pay 2024: What you can earn from analyst to director

12 March 2024

3 minute read

Deutsche Bank engineering pay 2024: What you can earn from analyst to director

Working in tech at Deutsche Bank might have been a drag in the past, but times might be changing. Deutsche has been making sweeping changes to its tech stack and recruiting ex-Goldman Sachs partners to lead its transformation.

However, is the pay competitive? Using data from Levels.fyi, we've broken down pay at the bank by both seniority and location to find out.

How much do you earn as a software engineer at Deutsche Bank?

While not quite up there with the likes of Goldman Sachs, Deutsche Bank is fairly competitive with its global average pay. Its entry level tech analysts earn more than those at Citi, and its directors seem to earn similar amounts to executive directors at Morgan Stanley (both have minimal data points at that seniority, however).

Of course, the team you choose to work in can matter a lot more than your seniority. One VP in quantitative development on Levels reported total compensation of $183.7k in London.

Deutsche Bank has also established a 'distinguished engineer' accolade to reward its most valued technologists. While it usually comes with a promotion, it's not clear whether it brings a better compensation package with it.

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Where does Deutsche Bank pay its engineers the most?

Like the majority of banks, New York is Deutsche Bank's top paying location for talent, but it lags behind significantly compared to the US banks.

In the US, Deutsche Bank has a dedicated technology hub in Cary, North Carolina; most other banks have opted for Texas offices. While the two regions tend to pay similar amounts, Deutsche Bank falls a little short here too.

In Europe, pay at the bank's Berlin headquarters is only narrowly behind its average pay in London. Berlin also had the most data points by a significant margin, indicating the office there is bustling with engineers.

Deutsche Bank's European counterpart to its Cary office is in Bucharest. Data is more sparse in the region, but pay for software engineers roughly averages at $28k

Deutsche Bank declined to comment for this article

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AUTHORAlex McMurray Reporter

in
inctn
14 March 2024
They are lacking behind in many countries. This year they took the 'best' decision: to provide employees zero ( 0 ) raise in many countries.
They mentioned that they took this decision across the board, showing they don't care at all about performers vs the ones running invisible (just doing the task, nothing more). no distinction between employees.
Killed motivation, performance, innovation, but most importing showing they don't care about people. (on top they called back to the office 3 out of 5 days).
One of the arguments they brought to the table was that jobs have froze and are going over stagnation in term of numbers (that is more or less so), but did not took into consideration that over the last years there was total inflation of more than 25%, why bother to compensate some.
This can be verified by asking any DB employees from tech centers. People will avoid DB, at least in my country.
However, time will tell if this was a good decision on their side.

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