Entry-level jobs in the U.S. banking industry have declined nearly 5% since ChatGPT launched in 2022, while mid- and senior-level positions continued to grow, according to a Revelio Labs report based on public employment records, including LinkedIn. According to Sina Finance, citing Bloomberg, Goldman Sachs and Bank of America said this summer that they expected to hire roughly as many interns and analysts this year as in 2025.

Revelio found that entry-level roles declined more at commercial and retail banks than at investment banking and capital markets divisions. The report said the decline appeared specific to banking, while insurance companies continued to add entry-level jobs, and described banking as especially exposed to AI-driven automation and a possible early indicator of its effects on employment structures.

At JPMorgan Chase, Bank of America and Citigroup, entry-level and more senior positions followed notably different trends. Wells Fargo had fewer employees in both levels than in 2022, while Goldman Sachs had more. Bank of America said it had hired more than 14,000 early-career employees annually over the past two years and expected to reach a similar level in 2026.

JPMorgan Chase said it could not verify the report’s conclusions because it was unclear what data and definitions the report used. The bank said its entry-level headcount had remained stable over the past three years and that job-posting data could undercount actual hires, since one listing may lead to multiple hires, particularly in software engineering and operations. Citigroup declined to comment; Wells Fargo and Goldman Sachs did not respond to requests for comment.

Bank of America CEO Brian Moynihan said in an interview in June, “We need young people. We are always hiring talent for the company and working to create opportunities for people.”