Deutsche Bank Pays Investment Bankers More Than Goldman Sachs

Deutsche Bank AG, Germany’s biggest bank, set aside more in compensation for employees of its corporate and investment bank in the first nine months of 2010 than Goldman Sachs Group Inc.

Deutsche Bank reserved enough money to pay 285,352 euros ($394,499) to each of the 16,194 workers at the division, which includes the securities unit and transaction banking, company data show. That compares with overall personnel costs per employee at Goldman Sachs of $370,706 in the period.

“The market continues to be very competitive and top talent has its value and its price and we cannot ignore that fact,” Deutsche Bank Chief Financial Officer Stefan Krause said on a conference call today.

Investment banks typically reserve a portion of revenue throughout the year to pay staff, granting the bulk of the awards in the form of year-end bonuses. Deutsche Bank set aside 4.62 billion euros for compensation expenses, up from 4.24 billion euros a year ago. Goldman Sachs, JPMorgan Chase & Co. and Credit Suisse Group AG all cut the money they set aside to pay bankers and traders amid a business slowdown.

Deutsche Bank raised the compensation pool for corporate and investment banking employees by 9 percent from a year earlier, while revenue increased 7 percent to 16.4 billion euros. Pay per employee compared with 296,037 euros for each of the 14,309 workers a year ago.

Average pay per worker doesn’t reflect the amount of money employees actually receive. Top executives and revenue producers sometimes receive multimillion-dollar awards, while clerical staff get much smaller salaries.

Deutsche Bank today reported a third-quarter loss that was smaller than estimated as higher profit at the investment bank cushioned a writedown on its Deutsche Postbank AG stake. The net loss of 1.21 billion euros in the third quarter compared with a profit of 1.38 billion euros a year earlier. Analysts had predicted a 1.52 billion-euro loss.

@ Bloomberg.

Altamente tão bué da ricos os alemães com o guito que sacaram com a golpada da AIG/Lehman ou lá que foi. Agora só falta começarem a mandar guito para estes lados !!!! ... mas pera lá ... Portugal é que anda a comprar submarinos aos alemães ao preço de 1 Bilião de Euros com 400 Milhões (ou lá que é) em comissões para a banca... é pá devia ser ao contrário secalhar :/ ... Ei Srs alemães n querem um submarino de cortiça ?