Dr. Josef Ackermann, Chairman of the Management Board and the Group Executive Committee of Deutsche Bank AG, at the General Meeting on May 27, 2010.
add value to the organization. Finally, networking is key to identifying sources of personal and professional support and effective mentors to assist in guiding your career.
On the issue of the enforcement of restrictions on compensation: If required by regulatory bodies, banks will of course comply and implement any compensation restrictions imposed on them.
Do you believe that the planned restrictions on compensation will be a discouraging factor for students who are attracted to the industry due to its high pay? Do you think that compensation restrictions can actually be implemented in the United States or Europe, if banks do not want to comply with them? I am not of the opinion that changes in the compensation structures in the financial services sector will have a negative impact on students seeking careers in this industry. Relatively speaking, salaries in the financial services industry remain competitive, and students will continue to be drawn to the sector’s excellent long-term career opportunities. People starting out in the industry know that if they work hard they will be rewarded accordingly.
A lot of students reading this interview hope to have a successful career in the À nancial services industry. If you could pass along one single piece of advice to these students – with respect to their career, education and private lives, what would this advice be? Finding an appropriate work life-balance is key to sustaining a passion for your work. Maintain a healthy focus on your personal life and the well-being of your family. This is essential in this fast paced, highly demanding industry. Continue to seek opportunities to learn and grow as you progress in your careers. Don’t be afraid to make mistakes as there is great value in learning from one’s failures. Finally, remember to always treat others with respect - it goes a very long way. iBR
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I N T E R N AT I O N A L B U S I N E S S R E V I E W
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Fall edition of the IBR magazine at the Wharton School.