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WORKING IN GERMANY

German online bank N26 to create 1,000 new jobs

German online bank N26 said Monday it would hire an additional 1,000 people.

A person holds a N26 bank card.
A person holds a N26 bank card. The bank is set to hire 1,000 new staff members. Photo: picture alliance/dpa | Christophe Gateau

The bank raised more than $900 million (€775 million) from private investors. N26 called it the “largest financing round to date for a digital bank in Europe” that brought the Berlin-based startup’s valuation “to more than $9.0 billion”.

“With our fresh capital, we are in pole position to become one of the biggest retail banks in Europe, all without a single branch,” Valentin Stalf, CEO and co-founder of N26, said in a statement.

The bank plans to add another 1,000 staff to its workforce of 1,500 people worldwide. The new hires will be focused on product, technology and cybersecurity, it said.

Founded in 2013, N26 offers free, online-only banking services and is one of Germany’s most high-profile financial technology or “fintech” firms.

It now has seven million customers in 25 countries.

READ ALSO: What are the best banks for foreigners in Germany

Its rapid growth has rested in part on fast-track identity procedures for new customers.

But N26 has been in the crosshairs of Germany’s finance watchdog BaFin since 2018 after a German news media investigation found that it was possible to open account with forged IDs.

BaFin has repeatedly ordered the bank to step up its internal controls and slapped the company with a 4.25-million-euro fine in June.

N26 said the fine was in connection with around 50 “suspicious transactions” linked to money laundering between 2019 and 2020.

The company said it reported the suspicious operations to BaFin too late for them to be properly examined.

N26 says it has since put in place measures aimed at improving the disclosure of suspicious activities.

“N26 is taking its responsibilities in the fight against the growing threat of global financial crime,” it said last month.

In Monday’s statement, N26 added that it had agreed with German regulators to limit new customers to 50,000-70,000 per month for the time being.

READ ALSO: Why bank customers in Germany are facing higher fees

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WORKING IN GERMANY

Which Bavaria-based companies regularly hire English speakers?

Bavaria is no doubt a beautiful state with a strong economy, but can be a hard place for non-German speakers to integrate. The Local takes a look at job opportunities in Germany’s southeastern 'Free State.'

Which Bavaria-based companies regularly hire English speakers?

Munich ranks third in German cities with the highest total GDP, behind Berlin and Hamburg, but in terms of GDP per capita, it’s higher than both of them.

It also consistently ranks high, often highest, in terms of average household income.

As of 2023, nine of the 40 companies listed on DAX, Germany’s stock index, were based in Bavaria. Seven of those are based specifically in Munich.

While Frankfurt is commonly known to be Germany’s business capital, Munich can claim the title of Germany’s insurance capital, which is saying something, as Germany is home to some of the largest insurance firms in the world, like Allianz.

Beyond the state’s capital city, a number of international companies are based elsewhere in Bavaria, particularly in the Franken region, near Nuremberg.

Which companies actively hire English speakers?

Bavaria, and Munich in particular, is home to a number of companies at the forefront of international business. But the state is known for its traditional, sometimes conservative, culture, which affects its business culture as well.

Whereas companies embracing English as their primary business language are easy to find in Berlin, the practice is less common in the south. That said, there are some notable exceptions. 

Sportswear giants, Adidas and Puma, both have their headquarters near Nuremberg in Herzogenaurach, and regularly recruit English speaking international talent.

“As an international company, our teams reflect the rich diversity of our consumers and communities,” Jon Greenhalgh, Senior Manager Media Relations for Adidas told The Local. “Fostering a culture of inclusion where we value and leverage differences, ensures that we can authentically engage with our employees and truly connect with our consumers.”

He added that around 40 per cent of Adidas’ Germany-based employees are foreign nationals, from over 100 different countries.

Siemens and BMW rank among Bavaria’s top employers, and are also known to hire their fair share of foreigners.

“In Germany, we recently had around 2,000 open positions,” Konstanze Somborn told The Local on behalf of Siemens AG.

He added that Siemens operates in 190 countries. “That is why we value international teams very much…English as a common language is very usual.”

READ ALSO: ‘Which German companies want to hire foreigners?’

Similarly, BMW hires workers from a variety of backgrounds. 

“Every year, we hire lots of internationals and welcome them to the BMW Group,” Dr. Hans-Peter Ketterl, a press spokesman for BMW Group told The Local. 

But not all of these positions are available to non-German speakers.

Ketterl added that BMW’s working language is German in the country, even though, “English is an indispensable entry requirement as the second corporate language in many areas of the company.”

Check job boards and follow best practices

If it’s your first time applying for jobs in Germany, make sure to change your resume to the German format, even for English positions.

While Germany is home to its own job boards, like Xing, LinkedIn is probably the best place to start. In addition to searching for positions based in your preferred location, you can check relevant groups, like Munich Startups, to broaden your horizons.

The English Jobs in Germany website is also a good resource to start with. 

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