Wall Street Interns Trade Excel Sheets for AI Prompts

Wall Street internships are undergoing a fundamental shift this summer as banks move from debating generative AI to mandating its use. Instead of spending their entire onboarding focused solely on accounting and Excel, this year’s cohort is expected to master AI tools to handle mundane analysis from day one.

Firms like Citadel and Citadel Securities have already baked AI fluency into their recruitment process, assessing candidates on their ability to apply the technology to real-world financial problems. Fabian Figi, head of campus recruiting at Citadel Securities, expects these AI-native interns to take on meaningful responsibilities far earlier than their predecessors. Training providers, such as Training the Street, are now integrating stress-testing and fact-checking protocols into their onboarding programs to ensure juniors can identify AI errors before passing work up the ladder.

While industry leaders remain split on whether these tools will lead to a smaller overall headcount, there is a clear consensus that the role of the junior banker is evolving. David Haeberle of the Indiana University Kelley School of Business notes that while foundational knowledge remains essential for verifying AI outputs, the daily responsibilities are shifting toward the work typically reserved for midlevel associates. Despite the potential for increased efficiency, experts warn that the grueling pace of Wall Street is unlikely to soften. Instead, firms are expected to raise the bar for daily output, effectively leveraging the new technology to increase the volume of work rather than shortening the workday.