"At the junior level, most jobs tend to involve grunt work. You don't need to have a high level of expertise, but you need to put in a lot of hours. That work can be easily done by AI. In investment banking, AI can easily edit and build financial models when we make pitch books."
"When I graduated from Lancaster University with a master's degree in finance in 1997, I couldn't find a job in London. I had to return home to Singapore after I ran out of money. To make things worse, I had to continue my job hunt amid the Asian financial crisis."
AI has made entry-level hiring more difficult by automating routine tasks that once justified multiple junior hires. Junior roles often involve long hours of non-expert grunt work that AI can perform, enabling firms to hire fewer analysts. In investment banking, AI can edit and build financial models and produce pitch-book material, leaving senior staff to review outputs. Job seekers should not be discouraged because job searches have always been challenging. Career paths can pivot from middle-office roles into front-office positions through persistence and skill development, as a banker moved from risk management to a front-office managing director role.
Read at Business Insider
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