Deutsche Bank 2028 first-round interview guide

For
2028 summer analysts
Sources
13 cited

Passed the Deutsche Bank online tests? Here is how the live first round works, who calls you, what each group has asked and how quickly the superday invite comes.

A student in a gray crewneck sitting on a made dorm bed with a phone held to one ear, a closed laptop and an open spiral notebook of handwritten notes beside them, blue winter dusk through the window.
Deutsche Bank's first interview in the US is usually live: a 30-minute call by phone or video with someone from the hiring division.

Key facts

  • Format: Usually a live virtual meeting with the hiring division. US first rounds have been 30-minute one-on-ones on the phone or on Zoom.1,6,9,12
  • Length: One 30-minute interview in New York Sales and Trading (Oct 2026, summer 2027); two 30-minute first-round interviews in New York Corporate Banking the same month.6,7
  • When: After the online tests. Deutsche Bank says it takes about six weeks from applying to an interview invite. For summer 2027, New York first rounds ran in January 2026 and again in fall 2026 (Fall Hiring).1,5,4
  • Investment banking: New York investment banking (Jan 2026, summer 2027): basic technicals on the valuation methods and simple accounting, market knowledge and deals you have followed.5,11
  • Corporate Banking and Markets: New York Corporate Banking was conversational, on your resume, internship, teamwork, feedback and why Deutsche Bank, with hardly any technicals. New York Fixed Income was mostly behavioral (both Oct 2026, summer 2027).7,6,11
  • After it: Corporate Banking heard about the superday the day after the first round (Oct 2026, summer 2027). In New York investment banking the whole process took under a month (Jan 2026, summer 2027).7,5

Deutsche Bank asks you to know how it differs from other banks and why your division suits you better than another, and US first rounds have asked why Deutsche Bank and which team you want.2,7,11

What the Deutsche Bank interview looks like

  1. Where it sits

    Deutsche Bank runs an application, an eligibility screen and online tests, then an interview, then a superday. It tells you after the tests whether you are moving on. The first interview is usually a live virtual meeting with the hiring division, about six weeks after you apply.1

  2. Who calls you

    Someone from the group you applied to. Expect a 30-minute one-on-one, on the phone or on Zoom. A Boston full-time first round was an unannounced call from a first-year analyst (Oct 2025, full time), and one investment banking summer analyst first round, office not given, was in person with an associate and a VP.1,6,9,10,11

  3. One round or two

    Most US processes have had one first-round interview. New York Corporate Banking ran two 30-minute first-round interviews before an in-person superday (Oct 2026, summer 2027), so ask your recruiter how many to expect.6,5,7,9

  4. What they ask

    It depends on the group. New York investment banking asked basic technicals, the valuation methods and simple accounting, plus market knowledge and deals you follow. Corporate Banking stayed conversational on your resume, teamwork, feedback and why Deutsche Bank. Fixed Income was mostly behavioral, with a question on how you were learning about the markets.5,7,6,11

  5. How to answer

    Deutsche Bank wants to hear why you are right for it and why it is right for you, how it differs from other banks and why your division suits you more than another, in your own words rather than with AI tools. Its New York recruiter asks you to show enthusiasm and a willingness to learn.2,1

  6. After it

    The superday invite can come fast: the day after the first round in Corporate Banking (Oct 2026, summer 2027). For summer 2027 one New York superday fell on Feb 4, 2026, and in Fall Hiring New York moved weeks ahead of San Francisco.7,3,4

Before your first round

  • A quiet room and a charged phone, since some first rounds are a call; for Zoom, test your camera, audio and Wi-Fi.
  • Your resume beside you, with a sentence on every line, since the conversation often runs through it.
  • A one-minute answer to why Deutsche Bank and why this division over another.
  • For investment banking: the three valuation methods, a DCF and how depreciation moves through the statements, each in about a minute.
  • One or two deals in your group, with the buyer, the price and your view.
  • For Markets: how you follow fixed income, and one view on rates.
  • Three stories with a result in each: a team, feedback you took, something you learned that changed how you worked.
  • Your phone on and nearby in the weeks after the tests: one full-time first round was an unannounced call.

The questions

Expect a conversation that starts from your resume and your reasons for Deutsche Bank. Investment banking adds basic technicals and deals; Corporate Banking and Fixed Income have been mostly behavioral.5,6,7,11

  • Fit and motivation: Tell me about yourself, why Deutsche Bank, which team you want.
  • Behavioral: Teamwork, feedback, something you learned that changed how you worked.
  • Technical: The valuation methods, a DCF and simple accounting, for investment banking.
  • Markets and deals: Deals you have followed, how you follow fixed income, macro and M&A.

Which division question you get

Investment Banking, New York
Jan 2026 (summer 2027): after an IQ-style test, a first round on the valuation methods, simple accounting, market knowledge and deals you had followed. Two behavioral MD interviews followed.5,11
Corporate Banking, New York
Oct 2026 (summer 2027, Fall Hiring): two 30-minute first-round interviews, conversational, on resume, internship, teamwork, feedback, why corporate banking and why Deutsche Bank. Superday news the next day.7,11
Fixed Income, Sales and Trading, New York
Oct 2026 (summer 2027, Fall Hiring): one 30-minute one-on-one, online and mostly behavioral; asked how you were learning about fixed income markets.6,11
Strategy and Business Development, New York
A 30-minute Zoom first round of basic behavioral questions; no second round followed.9,11
Full-time analyst, Boston
Oct 2025 (full time): an unannounced call from a first-year analyst, on behaviorals, the tech market and macro factors affecting M&A.10,11
Capital MarketsBest guess
Expect the investment banking blend with more on financing: a recent bond or loan deal and where rates are going.

The Capital Markets line is our best guess from the investment banking first round and the bank's financing focus in the prep guide.

Example questions and how to answer them

Technical"Walk me through the main valuation methods."5,11
  1. 1Name the three: comparable companies, precedent transactions and a DCF.
  2. 2One line each on how it works.
  3. 3Say which usually gives the highest value: precedents, because they carry a control premium.
  4. 4Close on when you would lean on each.

Tip: Asked in the first round of a New York investment banking process in January 2026 (summer 2027). Keep it to a minute, then expect a follow-up on one method.

Example answer, written by Intervyo (not a real candidate)

Written by Intervyo as an example. There are three main methods. Comparable companies values a business on the multiples similar public companies trade at, such as EV to EBITDA. Precedent transactions uses the multiples paid to buy similar companies, so it is usually the highest, because buyers pay a control premium. A DCF projects free cash flow, discounts it at the cost of capital and adds a terminal value, so it values the business on its own cash flows. I would show all three as ranges, leaning on the DCF for a stable business and on comparables where the outlook is hard to forecast.

Markets and deals"What deals have you been following in this space?"5,11
  1. 1Pick one deal in the group you applied to: buyer, target, size, when.
  2. 2Give the logic in one line: why the buyer wanted it.
  3. 3Give one number: the multiple, the premium or how it was financed.
  4. 4End with your view and one risk.

Tip: Part of the New York investment banking first round in January 2026 (summer 2027). Have a second deal ready, since follow-ups often ask for another.

Example answer, written by Intervyo (not a real candidate)

Written by Intervyo as an example. I have been following a large industrial company's purchase of a smaller automation business, announced this fall for about $3 billion. The logic is growth: the buyer's core market is mature, and automation software sells into its existing customers. It paid around 18 times EBITDA, a high multiple for the sector, and funded most of it with new bonds. I think it makes sense if the cross-selling comes through, but the risk is that the buyer has paid for growth while taking on debt at today's rates.

Fit and motivation"Why Deutsche Bank, and which team do you want?"7,2,11
  1. 1Say what sets Deutsche Bank apart from other banks for you.
  2. 2Name the team and why it suits you more than another division.
  3. 3Link it to something you have done.
  4. 4End with what you want to learn.

Tip: Asked in New York Corporate Banking's conversational interviews in October 2026 (summer 2027, Fall Hiring). Deutsche Bank's own advice asks for exactly this: how it differs and why your division over another.

Example answer, written by Intervyo (not a real candidate)

Written by Intervyo as an example. I want to start in Corporate Banking because I enjoy the lending side of finance: working out whether a company can carry debt and how to structure it. Last summer I spread financials for a regional bank's commercial lending team, and the credit memos were the part I liked most. Deutsche Bank stands out to me because its corporate bank serves multinational clients across cash management, trade finance and lending, so an analyst sees how a client's whole balance sheet works. I want to learn how a relationship grows from one loan into the rest of the bank's products.

Behavioral"Tell me about a time you learned something that changed the way you took part in a project."9,11
  1. 1Situation: the project and what you were doing at first.
  2. 2What you learned, and from whom or what.
  3. 3What you did differently because of it.
  4. 4The result, with a number if you have one.

Tip: Asked in a New York Strategy and Business Development first round, a 30-minute Zoom of behavioral questions. Use it for feedback questions too.

Example answer, written by Intervyo (not a real candidate)

Written by Intervyo as an example. In a consulting club project for a local nonprofit, I was building the donor analysis and kept sending my teammates long spreadsheets. Our project lead told me nobody was reading them and asked for one page with the three numbers that mattered. I rebuilt my updates around a short summary and a single chart, and attached the detail for anyone who wanted it. Our meetings got shorter, and the nonprofit used my one-page summary in its board meeting. Since then I start every piece of work by asking what decision it is for.

Markets and deals"How are current macroeconomic conditions affecting the M&A market?"10,11
  1. 1Start with rates and the cost of financing.
  2. 2Add valuations and confidence: how far buyers and sellers agree on price.
  3. 3Name one recent deal or trend.
  4. 4Close on what you expect next.

Tip: Asked on an unannounced call from a first-year analyst for a Boston full-time role (Oct 2025, full time). Summer first rounds test market knowledge too.

More Deutsche Bank interview questions

Fit and motivation

  • “Tell me about yourself.”7,13

    Corporate Banking, New York, Oct 2026 (summer 2027)

  • “Why investment banking?”13

    Listed by a prep site for Deutsche Bank summer analyst interviews

Technical

  • “Walk me through a DCF, then go deeper into its parts.”11

    Investment banking summer analyst first round, office not given; in person with an associate and a VP

  • “What is a DCF?”8

    Investment banking intern, Honolulu; a phone screen came after the online test

  • “Why can a DCF or an EV/EBITDA multiple not value a commercial bank?”12

    A prep site's note on where Deutsche Bank technicals lean

Behavioral and markets

  • “How have you been learning about fixed income markets?”6,11

    Fixed Income, New York, Oct 2026 (summer 2027)

  • “How do you prioritize tasks?”13

    Listed by a prep site for Deutsche Bank summer analyst interviews

  • “Tell me about feedback you received and what you did with it.”7

    Corporate Banking, New York, Oct 2026 (summer 2027); a topic, our wording

Practice for Deutsche Bank with Intervyo

Start free to practice Deutsche Bank questions and track when it opens. Go deeper on Deutsche Bank with the pack, or cover every firm you apply to with the Season Pass.

Free

Try it and track Deutsche Bank

$0no card

Sign up free
  • 2 HireVue-style questions, scored
  • A resume review and a cover letter
  • An online assessment in the real format
  • The tracker, with alerts for 5 companies

Season Pass

Save 63%

Every company you apply to

$16.58a month

Get the Season Pass
  • 20 live AI mock interviews a month
  • 130 HireVue-style questions a month, every company
  • 150 online assessment runs a month
  • 5 superday simulations a month
  • 30 resume reviews and 90 cover letters a month

$199 a year, or $44.99 monthly. Cancel any time.

How long to hear back after the interview

Deutsche Bank says the interview invite comes about six weeks after you apply, and in general it does not reject anyone until a program is full. After the first round, the superday invite has come within days.1,2,7

  1. Oct 2025 (full time)

    Full-time analyst, Boston

    An unannounced call from a first-year analyst, on behaviorals, the tech market and M&A.10

  2. Dec 2025 (summer 2027)

    Summer analyst, New York

    An assessment invite a few days after applying; the thread asked when phone screens and first rounds would follow.3

  3. Jan 2026 (summer 2027)

    Investment banking, New York

    IQ-style test, a technical first round and two MD interviews, all in less than a month.5

  4. Feb 2026 (summer 2027)

    Summer analyst, New York

    A superday on Feb 4. In the two cycles before, first rounds and superdays ran in March and April.3

  5. Sep to Oct 2026 (summer 2027, Fall Hiring)

    IBCM Coverage, New York and San Francisco

    New York first rounds came first, then New York offers; a San Francisco banker said first rounds would follow once full-time recruiting eased, and screening calls came weeks later.4

  6. Oct 2026 (summer 2027, Fall Hiring)

    Corporate Banking, New York

    Two 30-minute first rounds, superday news the next day, and a final decision a little over a week after the superday.7

  7. Oct 2026 (summer 2027, Fall Hiring)

    Fixed Income, New York

    Online assessment, one 30-minute first round and a superday, all online, over one to two months.6

Deutsche Bank has run later than other banks in some cycles, so a quiet January is not always a no.3

Best guessExpect the superday call within a week of the first round. If two weeks pass, send your recruiter one short note; New York has moved before other offices.

What happens after the interview

  1. Online application

    A short form and your resume, for one role in one country.1,2

  2. Online assessment

    Done. An eligibility screen, then online tests with 96 hours a set.1

  3. First round (live)You are here

    This page. Usually a live 30-minute interview by phone or video with the hiring division; two in some groups.1,6,7

  4. Superday

    Usually two 30-minute interviews, online or in person; with two managing directors in New York investment banking.5,6,7

  5. Offer

    An outcome call within a week, with feedback, and two weeks to decide.1

First round vs superday

At Deutsche Bank the first round is a short live call that often carries the technicals; the superday puts you in front of more senior bankers.

Format

First round

One live 30-minute interview by phone or video; two in New York Corporate Banking (Oct 2026, summer 2027).6,7,1,9,12

Superday

Usually two 30-minute one-on-ones, online or in person.5,6,7

Who

First round

Someone from the hiring division, sometimes a first-year analyst.1,10

Superday

Managing directors in New York investment banking (Jan 2026, summer 2027).5

Content

First round

Valuation, simple accounting and deals in investment banking; conversational elsewhere.5,7

Superday

Mostly behavioral; both New York investment banking MD interviews were.5,6

What comes next

First round

A superday invite, the next day in Corporate Banking.7

Superday

An outcome call within a week, with feedback.1

2028 summer analyst status

For summer 2027, New York first rounds ran in January 2026, and again in fall 2026 in Fall Hiring. Deutsche Bank's next US early recruitment window runs from Dec 15, 2026 to Jan 16, 2027, so expect the next first rounds from about January 2027.1,4,5

FAQ

Is the Deutsche Bank first round live or recorded?

Usually live. Deutsche Bank says the interview may be a live virtual meeting with the hiring division, and US first rounds have been 30-minute calls by phone or on Zoom.1,6,9,12

How long is the Deutsche Bank first round?

About 30 minutes. New York Fixed Income had one 30-minute one-on-one, and New York Corporate Banking two 30-minute interviews (both Oct 2026, summer 2027).6,7

Is the Deutsche Bank first round technical?

In investment banking, yes, at a basic level: the valuation methods, simple accounting and deals you follow (New York, Jan 2026, summer 2027). Corporate Banking and Fixed Income first rounds were mostly behavioral.5,6,7

When does Deutsche Bank send first-round invites?

Deutsche Bank says about six weeks after you apply, after the online tests. For summer 2027, New York first rounds ran in January 2026 and again in fall 2026 (Fall Hiring), with San Francisco weeks later.1,5,4

How soon after the first round is the Deutsche Bank superday?

Within days. New York Corporate Banking heard about the superday the day after its first round (Oct 2026, summer 2027), and the whole New York investment banking process took under a month (Jan 2026, summer 2027).7,5

How should I prepare for the Deutsche Bank first round?

Know why Deutsche Bank and why your division over another, as the firm's own advice asks; know your resume line by line; and for investment banking, practice the valuation methods and a deal you follow.2,5,7

Interview at other firms

Sources

Firm pages first, then dated candidate reports. Last checked Nov 9, 2026.

  1. 1Deutsche Bank: Prepare for your application (application deadlines and process)
  2. 2Deutsche Bank: Early careers FAQ
  3. 3Candidate discussion on a public forum: DB SA 27 timeline (from Dec 2025)
  4. 4Candidate discussion on a public forum: Db Fall SA'27 Hiring Process (from Aug 2026)
  5. 5Candidate report on a public forum: Investment Banking Summer Analyst interview, Generalist, New York (Jan 2026)
  6. 6Candidate report on a public forum: FIC Summer Analyst interview, Sales and Trading, New York (Oct 2026)
  7. 7Candidate report on a public forum: Corporate Banking Summer Analyst interview, Generalist, New York (Oct 2026)
  8. 8Candidate report on a public forum: Intern interview, Investment Banking, Honolulu (May 2025)
  9. 9Candidate report on a public forum: Strategy and Business Development Intern interview, New York (May 2026)
  10. 10Candidate report on a public forum: Fulltime Analyst interview, Boston (Oct 2025)
  11. 11Candidate reports on a public forum: Deutsche Bank Interview Questions (2026)
  12. 12Aced: Deutsche Bank Investment Banking (IB) Summer Analyst Interview Guide · prep site
  13. 13Aced: Deutsche Bank Investment Banking Summer Analyst Interview Questions · prep site

Intervyo isn't affiliated with, endorsed by or sponsored by Deutsche Bank. Formats change between cycles and divisions, so always follow the instructions in your own invite.