Deutsche Bank equity researchers say they were underpaid. Now they're leaving

efinancialcareers.com:

Last year wasn't the best year for bonuses at Deutsche Bank. Across the bank as a whole, the bonus pool was down nearly 9% and the average bonus was at its lowest since 2012. Amidst the squeeze, Deutsche Bank's New York-based equity researchers claim to have been punished: one research insider says some bonuses were just 10% of salaries. 

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Deutsche Bank isn't commenting on this claim, but the alleged pay squeeze may have something to do with a sudden rush for exits.

In recent months, at least three senior equity researchers have left Deutsche Bank's New York office. 

The most recent of the departures is Emmanuel Rosner, a senior autos analyst, who joined from Guggenheim Partners in 2018 and who has just gone to Wolfe Research, an independent research firm. 

In July, Amit Mehrotra, a Deutsche Bank transportation analyst, left after 12 years for UBS. 

And in April, Neena Bitritto-Garg, a senior biopharma researcher who only joined in September 2023, became founder and president of Ensho Therapeutics. 

Other recent exits include Joe Ahlersmeyer, a homebuilders researcher, who went to investor relations in April, and Juliette Lafille, a research salesperson who was at Deutsche for less than a year before joining BTIG. 

Sources say numerous salespeople have also left for UBS. 

Some insiders contend that last year's pay is the main issue. «The best people weren't down all that much,» says one, adding that it's more the fact that Deutsche researchers in the US are open to decent outside opportunities now that the bank is adopting a German-first 'Hausbank' approach. 

Nonetheless, the exits may augur badly for the future. Many of Deutsche's equity researchers have worked closely