Online Application
You are required to fill in a form with some questions about your background, your interest in the company (e.g. 'how did you get to know this opportunity?'). Moreover, you need to attach a CV and a cover letter as part of this form.
How to respond for success
Use a basic template (avoid CVs that are too creative for these roles). Also, try to include at least one business experience (even if unpaid) that can be relevant to Banking and Finance, and include action verbs that highlight what you did. Make sure to clearly state what you did in your other experiences - even if non-financial - and select relevant factors about your university experience (e.g., are you part of any business/commercial society?). I'd also advise you to include some hobbies and extracurriculars that you might further describe during an interview.
For your cover letter you need to provide the following:
Introduction - Summarise the main reason you are applying to this programme and briefly introduce yourself. Paragraph 1 - Why this sector? Did I take part in interesting experiences that made me realise the importance of finance? Paragraph 2 - Why Deutsche Bank and why an Insight Programme? (e.g., to meet ambitious people, to gain an insight into financial services, to leverage this experience in a future application for a 2023 Summer Internship). As I am interested in ESG, I included some data about DB's engagement in sustainability to show some research. Conclusion - Briefly (very briefly!) restate what you said in the main body of the cover letter and thank them for considering your application.
Remember that this role is very general and it is meant to be an introduction to financial services, so you don't really need to show extremely relevant experience. It is crucial to demonstrate your curiosity and genuine interest in the programme and in the company. Also, always try to network with someone at DB, so that you can include their name in your application form!
Expect an immediate response before progressing to the next stage.
Online Tests
You will face 3 different tests, a numerical reasoning, a logical reasoning and a situational judgement test. As for the cognitive ability test, it is similar to most used by other firms, so you just need to prepare and find some simulations online. For the situational one, carefully read through the DB values and think about them when you are answering the questions. However, do not overthink and try to be as real as possible.
Example task
The numerical reasoning test is made up of percentage calculations and reading data from graphs. The situational judgement test contains questions about your personality, questions about your behaviour in certain situations and contexts (e.g., 'if your coworker cannot meet this deadline, what would you do?')
How to respond for success
I carefully read through DB values and tried to do my best highlighting the strengths of my personality.
Expect an immediate response before progressing to the next stage.
Video Interview
This stage was right after the online tests, so expect to advance immediately to this stage. When you start the video interview, expect the questions to appear on your screen and 1 minute to think about the answer. Then, you have 3 mins to reply but you can also finish earlier.
Example task
Expect questions along the lines of: "Why this role at DB?, Why this division/programme, What do you think you’ll learn from this programme at DB?"
How to respond for success
Even though I did the interview online at home, I dressed up formally. I tried to be as calm as possible, and to be clear in my answers. You have enough time to think about your answers, so keep a notepad next to you to draft something. Take some notes but don't write exactly what you want to say, otherwise it is going to seem staged.
Expect a 1-month wait before progressing to the next stage.
Video Interview
This stage was right after the online tests, so expect to advance immediately to this stage. When you start the video interview, expect the questions to appear on your screen and 1 minute to think about the answer. Then, you have 3 mins to reply but you can also finish earlier.
Example task
Expect questions along the lines of: "Why this role at DB?, Why this division/programme, What do you think you’ll learn from this programme at DB?"
How to respond for success
Even though I did the interview online at home, I dressed up formally. I tried to be as calm as possible, and to be clear in my answers. You have enough time to think about your answers, so keep a notepad next to you to draft something. Take some notes but don't write exactly what you want to say, otherwise it is going to seem staged.
Expect a 1-month wait before progressing to the next stage.
Phone Interview
This stage was a phone interview with an analyst, which lasted about 15 minutes. I prepared by asking other analysts on LinkedIn about their experience, and I also drafted some answers to motivational questions trying to tailor them to Deutsche Bank values.
Example task
I was asked personal and motivational questions, with no technical questions asked. They were along the lines of:
Tell me about yourself? Why Deutsche Bank? Tell me a recent news story. You disagree with a teammate about something, what do you do? How did you do your research about Investment Banking?
How to respond for success
I tried to show I did as much research as possible, and I demonstrated deep understanding of DB values. Remember to show genuine curiosity. Ask the analyst about his/her experience at DB and what they particularly like about their work there.
