Wall Street Banks Cut Entry-Level Hiring as AI Automation Squeezes Global Graduate Opportunities

Major Wall Street banks are slashing junior analyst positions by up to two-thirds, with artificial intelligence automating tasks that historically launched banking careers and affecting millions of fresh graduates worldwide, particularly in India. Goldman Sachs, JPMorgan Chase, Citigroup, and Barclays have announced significant reductions in entry-level hiring as AI systems increasingly handle pitch book generation, financial modeling, and data analysis—work that junior analysts traditionally performed. JPMorgan CEO Jamie Dimon stated that AI "will eliminate jobs," while Goldman Sachs President John Waldron described employees as a "human assembly line" ripe for automation.