Deutsche Bank Analyst Interview Questions, Process, and Tips

Round: Test
Experience: Jumbled but can be classified into 3 major categories: Quantitative (CAT level), Data Interpretation and Current Affairs in Finance (e.g. India's GDP, Nifty's Year High level etc.)
1 subjective question (Compulsory) e.g. Identifying most suitable acquisition target for a firm using the information presented in a table. There is no correct answer to such questions.They were interested in the approach the way you justify your answer.
Tips: Follow financial media regularly over the Autumn semester (Economic Times, Reuters). Each candidate is given an opportunity to ask questions to the desk Heads. Make sure that you ask relevant questions. You will have many of those as you try to understand the business in detail.Do not spend too much of time on a particular question (this particularly applies to DI questions).
The pattern of the test may vary year to year.CAT preparation helps.
Total Questions: 40

Round: networking session
Experience: It was held in Kolkata in early November for shortlisted students. Heads of various desks were present to introduce their business and to answer queries. It is supposed to be non-evaluative. It turned out to be an excellent platform to understand the exact nature of the job.
They had given some GD topics based on latest financial happenings.
Tips: It was very informal and the purpose was to emphasize the importance of keeping updated with the news.
Dress well. It is extremely important.

Round: mentor interaction
Experience: Every shortlisted student was allotted a mentor for a month post networking session. Mentors typically comprise of KGP alumni currently working with GMC.
Tips: Personally, mentor interaction turned out to be very amicable for me. You can get all the queries resolved directly. It helps to seek a feedback on your preparation from the mentor.

Round: Behavorial Interview
Experience: Around 15 minutes long. I was quizzed about the resume. Major emphasis was on coursework since ours was only the 2nd batch of MSc Eco. Internships were also covered in detail. This was followed by a few current affairs questions and my intention of joining DB etc,
Tips: If you have multiple shortlists, they try to ensure that you are really interested in DB.

Round: Technical Interview
Experience: This was around 20-25 minute long. It was held by 2 senior managers. For the initial part, it was purely technical. Given my finance background, I was asked questions on binomial option pricing and option trading strategies. Since my MSc project was closely related to one of their desks, major part of the interview involved discussion about the same.
Tips: They made us feel very comfortable. Most of us were made spot offers at the end of the interview.Make sure that you are comfortable explaining you internships/projects in a lucid manner. Be sure about your career goals as they are really interested in this particular area.
Be careful while using finance jargon in your answers. This may invite new questions. If you answer them, it reflects extremely well. But the opposite also applies.

General Tips: They do not have a bias towards any particular background as such. However, a few pointers definitely set your resume apart:
1) Decent CGPA (Not a prerequisite though)
2) Projects/internships involving quantitative work
3) Financial Certification like CFA/FRM (The importance is overstated on campus. Clearing the exam is not enough and does not guarantee a place in the shortlist. One has to defend the finance background in a grueling interview. On the contrary, people with no finance background can do well by scoring handsomely in the written test.)
4) Relevant coursework (Finance courses from VGSOM/HSS).
A quality leadership/teamwork experience is a plus. They are interested in the lessons you learnt during your tenure in the position of responsibility you handled.
No specific criteria is used on the projects front. However, internships belonging to one or more of following categories set you apart:
1) Quantitative nature of work (either a research project or industry project)
2) Significant responsibility
3) Strong outcome (Publication, appreciation etc)
Make sure that you can speak at length about your internship experiences.
Skill Tips: Quantitative ability is a must. It supercedes all other parameters (including financial certifications). Above average performance in the written test is a must. For people with no finance background, do practice puzzles from 'Heard on the Street' and 'How to Move Mount Fuji'. Both the books are available on LAN.
Programming skills is NOT a must. However, experience of working with statistical packages and relational databases is a plus. If your resume says that you are proficient in Excel, they may ask you to write macros for simple tasks.
Written test: CAT preparation (even if you are not serious about IIMs )
Current affairs
Interviews: Know your CV well, practice puzzles and brush up your finance fundamentals extremely well if you portray yourself as one with a finance background.
Skills: Quanitative ability, Puzzles, Statistical packages help, Soft skills
College Name: IIT KHARAGPUR

Round: Test
Experience: They were very similar to CAT type questions.
Cut-off is very low compared to mock-CATs. So if there are about 35-40 questions, answering 18-20 correctly should suffice. Soft skills play an important role here.I think there was no negative marking. Build a strategy how you are going to mark the questions you couldn't attempt.
Some questions are tricky. Don't fall for them.
Tips: Preparing for CAT will help anyone to clear the written test.
Total Questions: 40

Round: Group Discussion
Experience: All the shortlisted students were given some 5 topics to prepare for. They were the current financial issues across globe.
Tips: This was different from last year.Never ask any questions about work life-balance, work hours or get too much into detail about their project (asking about their risk management practices, etc).

Round: Behavorial Interview
Experience: Two MDs took my first round of interview. My interview was about 50 minutes (30 mins is average). Reason for lengthy interview was one of my financial projects. I explained at length to them, which itself took about 25 minutes. Otherwise they concentrated on some basic questions like what is CDF and its properties? Integrate arctan(x). Bayes theorem based problems.
Tips: Some of my friends were asked puzzles. Substantiate everything on your CV. Read the basic concepts of your branch. Prepare for some HR questions - have unique and different answer. Avoid using words like passion, etc.
Read some basic subjects - no matter what department you are in.Avoid bookish answers for HR questions. Rather relate them to your past and answer.

Round: HR Interview
Experience: Rest of the content of my CV was covered.More questions were asked about subjects, certifications, projects etc.

General Tips: Puzzles are very important for non-finance people.
One important note : Certifications ( CFA, NCFM, FRM, PRM or actuaries) doesn't fill all the voids in your profile. A good profile without CFA will get you the shortlist but not the other way.
Completing 1 or 2 financial projects is beneficial. Make sure you know everything about the project and beyond. What more could have been achieved? What is the expected result?
Anyone with low CG should be involved in a lot of extra-curricular activities and elaborate how the experience will help in the financial industry.
College Name: IIT KHARAGPUR

Round: Round 1
Experience: My first interview started off with a quick chat with a VP on Ideatrics (which was indeed a confidence-booster, showing that they had done their homework). There were 2 other interviewers on the panel, one of which didn’t pose any questions throughout the interview. Thereafter, a couple of quick questions were asked on cities which I enjoyed travelling to while I was in Europe. This was followed with a composition of a 30-second ad campaign for Tourism Barcelona. Hence, I was all softened up for the rigors ahead. What followed was a barrage of puzzles from an IIT-K alumnus, who fired approximately 10-12 puzzles in a 7-8 minutes span. She made sure to test most of the areas. Though I was able to do them, the time given to come up with a complete solution was pretty short. Hence, it was imperative to give a gist of the solution and explain the approach in a concise manner. One thing which was visible was that the puzzles had some variations or provided incomplete information (though I am not very sure that was intentional or not). So, you are required to ask questions which fill up the gaps. This also acts as a check to see whether the candidate is reproducing mugged up solutions or not. I was well prepared for this, hence this round passed off on a positive note despite its pace. With things such as current affairs and finance still untested, I was pretty upbeat.

Round: Round 2
Experience: I waited a bit for my second round and interviewed with Opera in the meantime. The panel at DB this time comprised of 4 people, with another one who kept moving in and out. This round was on basic prob. and statistics, with questions on skewness and kurtosis, wherein I was asked to draw and compare their plots for securities with different characteristics. A couple of puzzles were asked as well, though there was nothing out of the blue regarding puzzles. A 4-person panel was indeed daunting, with constant challenges being raised on the solutions provided by me, probably to ruffle me up a bit. Again, working up from the basics helps in this case to illustrate the correctness of your solution.
After this round, I was slightly less confident. I was informed that I would not be having any more interviews
and I approached to interview with Diamond.
One thing which bothered me was the fact that no questions were asked on current affairs, neither on economics nor on finance. This was my strongest point as I had done enormous amount of research on everything ranging from DB to markets in general. Even the CFA L1 material was hardly touched upon. Before I was presented with the offer, I was asked some questions on my strengths and weaknesses and why I wanted to join DB. I was adequately able demonstrate my interest in DB and that was the end of it.

General Tips: Campus Placements can be an excruciating experience, but an in-depth analysis of your strengths and
weaknesses beforehand can help you focus on your goals. I had an inclination towards Finance since the
beginning of my program at IIT Kanpur, illustrated by the fact that I have done all my internships in related
fields. Time spent in Munich strengthened my belief and I decided to pursue opportunities in Finance, both in campus and off-campus. But as there are a significant number of consulting companies which visit our campus, I decided to undertake a 5-month internship at KPMG, which provided me with a flavor of both the worlds in an international setting.

General Prep.:
Being an economics student, the options have been neatly narrowed down for you. One can apply in companies which are only open for all the students; hence Finance, Consulting and Analytics (as they are known at IITK) were the fields where I had to concentrate upon. I started preparing solely for finance, with Deutsche Bank and Capital One topping the charts on my list. Preparations were focused on preparing for the aptitude tests taken by most of the companies. Reference materials comprised of the CAT preparatory material and a few websites for puzzles. Apart from that, constant feedback and review of the CV was an ongoing process. Appearing for some mock tests arranged for by the SPO was indeed helpful.
Skill Tips: I was interested in DB, having done some research on the company in general and the profile they offered at IIT Kanpur in particular. DB conducted a white-paper challenge by the name of ‘Ideatrics’ during August-September. This provided me with an opportunity to visit CIB Centre, Mumbai in person. I feel that this experience motivated me further towards preparing for placements in general and DB in particular. Being selected as the campus winner proved to be an icing on the cake. I would advise you to actively take part in such activities if time permits. Apart from the obvious brownie points which you earn on winning the
competition, it gives you an insight on the day-to-day work which you may be doing if recruited.
College Name: IIT KANPUR

Round: Test
Experience: It was DB. They first took PPT in main Audi. Audi was completely filled with students and I was sitting on the last seats still thinking about my GS test. When they told in PPT that they had taken only 8 students last year, it made me realize that out of about 600 students currently present in Audi (I thought 600 was good estimate for students present in Audi),my chances are 0.01 % approx.. It made me shivered and I stopped thinking about anything even the job and became casual. This casualness worked. So, I suggest you to be normal and don’t panic. Because, nervous is going to make your situation only worse. DB took two tests. First test was normal aptitude testing mainly your speed in which I had solved 22 questions out of 25 when people on an average had solved only 14-15 questions and even lesser. Second test was quant based test which had 6 questions-two from probability, two from linear algebra, one from class 12 ( I don't why they gave this question ) and one from algo. Thanks to MIT OCW and Pratik poddar, I did very well in it and solved all of them. Only question which I did wrongly was of class 12 because of overconfidence. After that test, I regained my confidence and did well in all other written tests. Most of these tests were simple aptitude tests but with lesser time. So, you need to have good speed to solve these questions. Finally on announcement of short listing results, I was shortlisted into both of my dream companies even after screwing In GS test. Moreover, I was one of the two guys in whole IITK , who was shortlisted for DB quant profile. It made my day. I talked to our seniors working at both these companies and started preparing for interview.

Round: HR Interview
Experience: First one was on the phone by a DB guy on HR interviews. He asked me why not higher studies, why DB, if asked by both GS and DB, which one would you prefer and some others. Believe me if you are having a high CPI, you have to prepare for the question “why not higher research” definitely.

Second was on the skype. He asked me puzzles related to algorithms, probabilities for one and half hour. Again,
thanks to Pratik poddar, Baswana sir and some hints from the interviewer, I did well in it. Whenever you have any problem, do ask for hints to interviewer.
On the D-day, I had been shortlisted into 4 companies in which two were DB and GS– my dream. First one was with DB and I had same interviewer from the skype. As, I had already met him, I became casual with him. He took my interviews for almost two and a half hour. Fortunately, it was my day. I solved all the problems with some hints from him. Then, came HR interview at DB. He asked about my family, parents, relatives, my childhood, my dream and some basic finance questions.Thanks to SPO volunteer Saurav at DB (something happened which you need not know), I was called. I went there leaving my 3rd round of GS. Again, DB guys asked me few questions on exchange rate which I answered perfectly. Finally, they offered me the job. To be frank, I wanted DB job more than GS, but seniors suggested me to go to 3rd round of GS too. When I went there for my 3rd round, I don't know why but they asked me to leave. Anyway I was happy as I had gotten job in one of my dream companies .

General Tips: Overall I can say that you must hope for the best and prepare for the worst. So make sure that you are prepared on all counts. You never know what might go wrong (I have taken it from Abhinav Jain) and do try to make every single event of placement favorable to you. Who knows which event is going to make your day. In case, you have any query related to DB or quant profile, you can ask Saurav Yashaswee, Y8 batch of Maths Dept.. He helped me a lot during preparation and undoubtedly, is one of the best persons to ask questions on quant profile and DB, who is going to be present in the campus during your placement session. In any case, you can contact me on facebook.
Skill Tips: Before starting, I want to clarify that this feedback is only an indicator of things which I believe about
placements and have tried to do during placement session. It has helped me but you should choose it only if you feel that it is going to help you too. You can include stuff like how did you narrow down to your career plans, the sectors which you were targeting and the rationale behind choosing them, difference between your expectations from the placement process and what you encountered finally, what you did to prepare, what you missed out on, what you think should be done, about the tests and GDs that the companies took, your thoughts before the final placements, about CAT, GRE, GMAT etc. and other fun stuff.
1. Making Resume:
Your resume is, if not the most then, definitely one of the most important things to decide your future career. It doesn't only help companies to shortlist you but also help you to decide your future path, inpreparation of HR interviews and knowing you better. If you have made your resume correctly, then itclears most of the doubts related to your carrier like whether you are made for job or research, if job thenfinance, consulting or core and if research, then which field. So, do devote a lot of time in making your resume. Proper way to make a good master resume is sit down alone for few hours, try to recall all the big,good or small (believe me even a small achievement can help you to get a good job or university as it hashappened in my case in getting into Deutsche Bank) achievements of yourself and make a list of all thosethings in good words. Show this resume to your friends, seniors and incorporate their feedbacks. Give thisiteration for at least 3-4 times. If your master resume is made perfectly, then making the resume for company specific is very easy. Oneimportant thing which you should note is if you feel that you resume is overqualified for a company; try tocut a few points from your resume. I have seen that few of my friends have put the same resumes for companies of the first day to last day and even when they were selected for the first day company, theyweren't even shortlisted for the 3rd or 4th day companies as companies felt that they were overqualified.
Please try to avoid this mistake.

2. Attending PPTs:
Attending PPTs and workshops of companies help you make a decision about selecting the companies inwhich you want to go. Do attend PPTs of companies about which you have no idea or the companies you are aiming. As, in my case, attending PPTs helped me to reject few companies which I was aiming. Try to be attentive during PPTs and do take notes of some special characteristics of a particular company (likestructure, compensation, work, seniors present in that company) as it will help you in some HR questionslike why this company, why not others, where do you see yourself in this company after five years and itwill also reflect your interest in the company to interviewer.

3. Selecting sectors or companies:
Your resume, work of a company and your interests help you decide the companies which you dream of and the companies which you feel that you are sure to get into. Try to make two list-first -of your dreamcompanies and second-of companies which you think you have a chance given your profile, your CPI, yourextra-currics, internships etc.. People generally try to prepare for their dream companies and not for otherlist of themselves. So, what happens is that if you are not getting into your dream company (Your dreamcompany in most of the cases is going to be dream of about 80% of batch of IITK), you have also reducedthe chance of getting into a company of your second list as you haven't prepared for that. Also, prepare for the worst. If you aren't getting into any company of both the list (which generally won’t happen ), thenwhat next (CAT, MS/PhD, IES, IAS or opening your band etc.).In my case, it was clear to me that my dream job was getting into DB quant or GS. On rejection, try for IBM,Adobe, Qualcomm, Intel ( as a wireless and signal processing engineer, you don't have much choice even in core), Erricson. On rejection even in these companies, try for MS or PhD in any university.

4. Talking to your seniors:
It is one of the sections in which IIT Kanpur lacks from other IITs. Try to contact seniors of the companies of your lists. Show them your resume, ask them how to prepare for the company, ask whether you are suitable for the job. They have experience of the company as you and also as an insider in the company and in some cases, they may recommend you for the job.

5. Written test:
Believe me even if you don't have good extra currics or a good CPI, even if you have done well in writtentests of companies, you will be in the race of your dream company. This is one of the areas in which IITKanpur always lacks. I have seen few of my batch mates having higher CPI, good internships, good extra currics but couldn't make into even shortlist because of written tests. Do prepare for it seriously. Even if you aren’t preparing for the CAT exams, try to practice time or CL’s study materials, most importantly of Probability, Permutations and DI section. Some companies put direct questions from previous CAT exams. Remember one thing that most of the times, it isn’t test of knowledge but of speed. Speed will come only on practice, not by only knowing things. Also, some consulting companies ask questions related to English Grammar, Vocabulary, so take a look at this section too from CAT study materials, if you feel that your English is weak.

6. Quant and Core Preparation:
If you are looking for quant companies, then you also need to revise your basic maths (like linear algebra,probability, some common distributions like uniform, normal, binomial), basic data structures and algorithms from DS and some puzzles from different websites and books (like of Pratik poddar, 40 puzzlesin probability, CMU toad). If you aren’t finding good study materials for maths or algorithms, use MIT OCW(it has helped me a lot). Make sure that you understand the basic concepts behind these things because they may ask any type of questions related to these topics and you will be answer only if you know theconcepts. For core companies, you need to revise some of basic core courses. For EE guys, if you are looking for VLSI, brush up EE 370 (most imp.) and EE 210. If you are looking for signal processing/communication profile, brush up basic DSP and communication concepts. Some questions were also asked from Kalman filter and wavelet transforms which I had no clue. So,be prepared for surprises. Also brush up C coding and basic data structures as it is generally asked in most of the EE core companies. Do note that you need to prepare seriously for your core companies too as after the interviews of first and second day’s companies and their rejection, you don’t have both time and mind to prepare for them. Finally note that these tests are not tough. These are the students who make it tough. So, never panic in the tests and try to give your 100%.

7. HR interview:
After being shortlisted into a company, Do not take HR questions lightly. You should prepare for somequestions like tell me about yourself, why this, three strengths and weaknesses. Practice these questionswith your wing mates and try to make proper eye contact while answering these questions.
College Name: IIT KANPUR