Are Entry-Level Jobs Becoming Obsolete? Wall Street Says Yes.
Entry-level work can be done by advanced algorithms and AI for a fraction of the cost. What does this mean for junior workers moving forward?
A headline on LinkedIn recently caught my eye: The Worst Part of a Wall Street Career May Be Coming to an End. The article suggests that artificial intelligence is about to take away much of the grunt work that used to be a “right of passage” for entry-level workers in the finance industry:
“The jobs most immediately at risk are those performed by analysts at the bottom rung of the investment banking business, who put in endless hours to learn the building blocks of corporate finance, including the intricacies of mergers, public offerings and bond deals. Now, A.I. can do much of that work speedily and with considerably less whining.”
It’s no surprise that artificial intelligence is already beginning to eliminate jobs. According to the International Monetary Fund, globally, around 40% of jobs could disappear by the end of the decade.
In the interim, the jobs most at risk are those that require complex decision-making skills — like roles held by executives a…