The banking and financial world is a universe of its own. Discretion is everything here, you don't like to let people look at your cards. A young trainee at a large German bank gave us a one-day insight into her world, where the flow of money is planned and developed.
It is clear but slightly cloudy on this day in Frankfurt am Main. From the high tower of the DZ Bank you still have a fantastic view far over the city and into the Taunus district. It is impossible to say exactly how high we are. When we changed the elevator on the 38th floor of the building, I stopped counting floors. There are several elevators in the building, some go non-stop, others go to every floor, and others only go to selected floors. When going up and down, you often feel pressure on your ears, similar to how you feel pressure on an airplane when landing and taking off. Elena Nikiforov has gotten used to it. The 26-year-old has been working as a trainee in the DZ Bank tower in Frankfurt for several months. After studying economics at Leibniz University Hannover with a master's degree in 'International Management', the Lower Saxon resident moved her life to Frankfurt: »The tasks in a bank are varied
nowadays. Also for people like me who didn't study finance, but rather international management. I had also known the bank for a long time, so joining here was an obvious choice. You have a wide range of development opportunities here and it is a large and good employer, that was crucial. When Elena Nikiforov speaks, she sounds rather modest. She has a resume that will make most hiring managers' mouths water. She completed her studies with good grades and can also show that she has completed the stay abroad that is now mandatory. As part of a summer school that lasted several months, she went to Shanghai and in between she did internships at various companies, including at the headquarters of Deutsche Bank.
DZ Bank is not a bank like any other. It is a cooperative bank and the central bank for over 900 Volks- und Raiffeisenbanken with over 12,000 branches and is therefore very present nationwide. She also works internationally. Measured by its total assets, it is the fourth largest bank in Germany. The extensive network of a huge company opens up as soon as you start looking into the group. Over 28,000 employees work for the DZ Bank Group in Germany and at locations abroad. Almost half of the employees (47.2%) are female. DZ Bank quickly refutes that
The cliché that still prevails in many places is that the financial world consists only of middle-aged men in gray suits. Those who start at DZ Bank often stay for a long time. The company's statistics show that the average DZ Bank employee remains loyal to their company for over twelve years. The image of a big happy family that is often portrayed in advertising comes to mind and actually seems to be true here.
Anyone who decides to work for DZ Bank as a trainee must always be motivated and be able to get used to it quickly. During his one-year traineeship at DZ Bank, the young graduate changes the group and thus the field of employment several times, depending on the size of the department. On the first day of each day, the group leader will personally introduce you to the new group, the organizational chart and the tasks. The areas of employment of the individual groups are very diverse and range from innovation management to product management in areas such as credit card business and payment transactions or securities processing, to the sales groups whose task it is to travel to the Volksbanken-Raiffeisenbanken and other customers in order to carry out on-site processes and to advise and supervise projects. The flood of information that hits the trainee is huge. Elena Nikiforow smiles: “That's probably the case with every company at the beginning, but the regular changes in departments at the beginning have a big advantage: you get to know your colleagues very quickly and also a lot of people in other areas. You build up your own network and can see in which areas you feel particularly comfortable, also with a view to later working in the company. The last three months of the trainee period are used to see where you want to go." The young woman chose to focus on 'transaction banking in the area of operations and services' for her trainee program. Elena Nikiforow explains what's behind it: »We are responsible for providing and optimizing various banking products and services for our customers, primarily the Volksbanks and Raiffeisenbanks and the corporate customers of DZ Bank. The area of responsibility includes, for example, the development, management, communication, controlling and sales of financial services, for payment transactions, foreign business,
cash, billing and card services or securities processing. We also analyze the competitive situation and the potential of the products and sales measures and thus try to strengthen the competitiveness of our customers. On-site support for customers is important. Elena Nikiforow has been on the move a lot during her trainee program: she has already traveled to Hamburg, Munich, Düsseldorf, Hanover, Stuttgart and the Black Forest over the last few months as part of her work.
A special opportunity that DZ Bank offers its trainees is the opportunity to get to know companies within the association. So if you actually do banking, you can still get a taste of other areas for up to two weeks. Elena Nikiforow is about to do an off-site internship at Union Investment, the fund company of the cooperative financial group. However, she still plans to remain loyal to banking. Because too much is currently changing in the industry. For banks it is about developing the business of the future now. The keywords are 'mobile payment' and 'e-commerce'. What sounds abstract and somewhat futuristic is already influencing the reality of life for more and more people. The trainees are also involved in these subject areas and in the case of Elena Nikiforow, this is where she is particularly interested: “Almost everyone has a smartphone these days and has already bought something from an online shop. And if you can learn and understand what's behind it and how the processes that affect us all so much in everyday life work, then it's very nice and exciting to be able to help shape that yourself." Elena leans back in her chair and grins . You have an exciting time ahead of you in an industry that is currently setting the course for an increasingly online and mobile-based future. She doesn't know yet whether she wants to be a banker for the rest of her life. But she knows that banks offer a wide range of areas of activity: “If after a few years you feel the desire to switch to marketing or human resources, then the bank makes something like that possible. There are many opportunities here to further your education and training or even to completely reposition yourself if you realize after a certain number of years in the job that you would actually like to get to know a new field again." There are also the chances of advancement within the company Company and group are good. So-called career scouts are always around the company and are on the lookout for potential candidates for management and key positions.
The trainees are well connected with each other. You meet regularly, go out together and have at least once in the
A trainee lunch every week where you eat together and exchange ideas. It is not uncommon for these contacts to result in long-term friendships. In addition, each trainee is provided with mentors from the areas of the trainee program, a trainee coordinator and an older trainee as a mentor to clarify questions about everyday trainee life and plan the individual progress plans in the individual groups. Elena Nikiforow is currently in the middle of this program. She has a sponsor who guides her and has recently become a sponsor for a young colleague. Everyone supports everyone in this way, that's what the trainee program says. Social exchange seems to be a particular focus here in the company, people are physically close to each other and the DZ Bank itself, as we are told, has a strong 'lunch culture'. In addition to weekly trainee lunches, you go out to eat with other colleagues and get to know the company, the employees and the overall structure better and better. And for those who prefer to eat alone, there are company sports groups where you can get your daily dose of fitness in the work building during your lunch break. When we left the building later that day
When I leave, I notice that a lot of the bank employees are wearing sportswear. Some have exercise mats or tennis rackets under their arms. Today's banker wears jogging suits and does sports during his lunch break. There were times when something like this seemed difficult to imagine in the German financial world. Today almost all major banks offer their employees something similar. My photographer and I say goodbye to Elena Nikiforow. We take the elevator back down and the feeling of being on a plane comes back again, we have pressure on our ears. In Frankfurt everything is actually a little bigger. Especially the
High-rise buildings. On our way out we pass a bulletin board. A banker then looks for colleagues among his colleagues in order to set up a common band. Next to it hangs the menu of the canteen, which is called Casino here. I count at least six different dishes, not counting salad buffets and soups. “You would have to be a banker,” says Matthias, my photographer. Where he's right, he's right.
Interviews with HR managers
Deutsche Bank, Anke Kirn, Head of Employee and Talent Acquisition Germany and EMEA
UNIGLOBALE: Can people join you with courses other than business administration, economics or economics?
Yes, you can. We also have programs that go into the legal or mathematical and scientific areas, where there are other corresponding areas of focus. Another example is our “Global Technology and IT” area, where we are happy to take students who come from the technical field. You can also join us in human resources as a humanities scholar.
UNIGLOBALE: How much importance do you place on ERASMUS and semesters abroad in your CV?
We attach great importance to the applicant speaking English fluently because English is our corporate language. We like to see stays abroad on your CV so that the applicant has gained some experience in other cultures because we are an international company and it helps to integrate into a certain environment more quickly. But it also depends a lot on the field the applicant is aiming for. We have divisions that have a very strong international focus, such as our technology division. And there is, for example, the “Private and Business Customers” area, which is centered in Germany and therefore less internationally oriented. But English is also needed here.
UNIGLOBALE: What is most important to you in an interview?
It is important to us that applicants be themselves. That they don't pretend or do anything to impress us. Above all, we want to find out: Are we a good fit for each other? Not only the applicant to us, but also we to him with the culture that we have. The applicant should present himself as he actually is, despite all the excitement that is certainly there. Otherwise, it is helpful to be familiar with the economic environment and the banking sector and to know what the challenges and problems are there. It is also important to know the political environment, for example in Germany, and to be able to derive effects that come into play here. Otherwise, the challenges vary depending on the division. Applicants in the field of investment banking should also be prepared for a small arithmetic problem.
HypoVereinsbank – Member of UniCredit, Oliver Simon Head of Learning & Development at HypoVereinsbank
UNIGLOBALE: What remuneration do interns and trainees receive from you?
That is different. For interns, the intern allowance is up to 800 euros per month. The trainees receive contracts depending on their degree, whether bachelor's or master's, and are paid in accordance with the collective bargaining guidelines.
UNIGLOBALE: Are you already noticing the shortage of skilled workers?
We can't complain about a lack of interest from applicants. Declines are only noticeable in areas where analytics are involved, such as risk management.
UNIGLOBALE: How good are your chances of taking over?
The chances are good after completing a trainee program, but less so when it comes to internships. Traditionally, we actually tend to hire people after they have successfully completed their studies.
DZ – Bank AG, Anita Seubert, DZ human resources department, responsible for the trainee programs
UNIGLOBALE: What opportunities do you give trainees to develop?
Our trainee programs are structured in such a way that there is no “one job” from the outset that is or has to be, but rather we work with very individual throughput planning. This means that we really check where the trainee's main interests and talents are.
UNIGLOBALE: The banking business is considered a male domain. What are the opportunities for women?
Very good and we are trying very hard to achieve that. We have been holding our “Student Day” once a year for the last two years to make trainee programs and banking in general interesting for women and to say: Banking is also female, it is no longer the typical male domain.
UNIGLOBALE: Do you pay for internships and trainee programs?
It is very important to us that the intern gains something from the internship. That's why we pay appropriately and the work actually doesn't consist of making coffee or maintaining Excel lists, because it's supposed to help him move forward. We receive support from both interns and trainees. The trainee programs are also remunerated; we are talking about an annual salary between 48 and 52,000 euros. I think that's something to be proud of.
KfW – banking group, Heinrich Gerhard, human resources department, responsible for training
UNIGLOBALE: Do you prefer certain courses of study (business administration, economics, WiWi) or could humanities scholars and career changers also work for you?
In addition to the typical banking courses mentioned, career changers are also welcome as long as they have financial knowledge. How they acquired it plays a minor role.
UNIGLOBALE: How important are international aspects (knowledge of foreign languages, stays abroad, etc.)?
Very good English skills are required for all areas. For the trainee program of the KfW Development Bank division, experience abroad - especially in developing and emerging countries - is of great importance. In addition, other foreign language skills should be available at a good level. In addition to English, the most important languages for us are French and Spanish.
UNIGLOBALE: What stages does a student/graduate go through in your company (during a traineeship, for example)?
All trainee programs last 15 months. During this time, the trainees get to know the respective specialist area as comprehensively as possible. To do this, the trainees spend around 2-3 months in stations in the respective target area as well as stations in interface areas. The trainees are usually deployed in teams in Frankfurt. But there are also assignments in the branches in Berlin and Bonn. During the 15-month program, they gain important qualifications for their target position and establish their professional network. Tutors support our trainees in the specialist departments. They are also accompanied by a personal mentor who coordinates the deployment stations and is the contact person for questions about the program. We human resources officers are of course also available to support the trainees. After each station, the trainees receive detailed feedback so that they know where they stand. During the trainee program, our trainees also have the opportunity to take part in KfW specialist seminars.
Related articles:
The banking and financial world is a universe of its own. Discretion is everything here, you don't like to let people look at your cards. A young trainee at a large German bank gave us a one-day insight into her world, where the flow of money is planned and developed. It's clear but slightly cloudy this day
