Pros
There are a lot of good, smart people working at DB. Interesting deals and structures being done. Still a great name to have on your resume.
Cons
There is an overall culture of bowing down to senior management, like they're kings and queens. Nobody is willing to push back. The ranks of senior management change constantly, and with each change comes a new host of friends and cronies from other financial institutions, each one with their own visions and ideas. No single restructuring or idea is given enough time to gestate to see if it will even right the ship. Before long, the person behind it leaves or is fired / laid off, and then the process starts again. Compensation is a nightmare - get a multi-year guarantee or be prepared to get zeroed out when the bank determines it needs cash more than you do.