Bank of America hires 4,000 interns as applicants surge

Bank of America is bringing in nearly 4,000 summer interns and campus recruits this year, even as more than 240,000 people applied for fewer than 2,000 spots—pushing acceptance to about 0.8%. The bank says AI is reshaping what new hires do, with more training

On a Wall Street timeline that already moves fast, this year’s internship intake is arriving with an even sharper twist: AI is starting on day one.

Bank of America is hiring nearly 4,000 summer interns and full-time campus recruits this year, split roughly evenly between the two. Josh Bronstein, the global head of talent, said around 240,000 people applied for fewer than 2,000 internships—an acceptance rate of about 0.8%. Bronstein said applications ticked upward this year. likely because AI tools make it easier to apply and because competition has increased.

The math is stark, but the bank’s message is steady. CEO Brian Moynihan has previously said the firm. which employs more than 213. 000 people. has cut operational and processing roles while continuing to hire in key areas like relationship management. technology. and cybersecurity. Bronstein told Business Insider that junior hires remain a strategic priority. especially as the bank looks for “career-minded” applicants who can see themselves staying there. He said the “vast majority” of interns typically get a return offer.

“We are being very intentional and thoughtful about the investments that we’re making for the long term through hiring,” Bronstein said. “That includes our campus class. We believe this is an important pipeline. It is a deliberate approach.”

Bronstein said he can’t predict whether or how the number of young hires will change—“it’s hard to have a crystal ball”—but he argued finance has weathered other waves of technological change and the bank remains committed to entry-level talent. This summer’s interns, he suggested, are walking into a transforming Wall Street where AI reshuffles workflows and career trajectories.

Intern work is shifting. Bronstein said that while interns used to help draft pitch decks and build models that AI tools can now handle, many will be expected to use AI for those tasks instead. That means more time goes toward higher-order work.

AI is also changing how the bank finds candidates. As the “half-life of technical skills” continues to shrink. Bronstein said Bank of America is looking for young applicants with strong “human skills. ” like judgement and agility. He said technical talent still matters. but the capacity to do the tasks that remain after automation matters just as much.

Moynihan echoed the theme in a Fox & Friends interview on Wednesday. He said the bank wants candidates who demonstrate “intellectual rigor” and “curiosity.” “Study something deeply, learn about it, but keep that curiosity to a whole bunch of other subjects,” he said.

When the interns start on Monday. Bronstein said they’ll be among the newest Wall Streeters using AI from the moment training begins. He said interns will receive AI training specific to their line of business. and the bank is working through how to train young people who will no longer do much of the manual. fundamental work that once defined early years on Wall Street.

“You’re seeing a shift in the entry point that these teammates are coming into,” Bronstein said. “We’ve got to give people the experiences in a simulated way quickly. so that they have the judgment that they otherwise would have gained by doing some of those tasks in their first year or two. that now. or soon. AI or other technology can do.”.

For applicants, the pressure is clear in the numbers: nearly 240,000 people chasing fewer than 2,000 internships. For the bank, the pressure is different—turning AI-driven efficiency into a training model that still builds a pipeline. Bronstein offered a reminder that the objective is long-term: the campus class isn’t just hiring. It’s a deliberate investment.

If you’re interning on Wall Street this summer or have a tip. the report invites readers to contact the reporter via email at atecotzky@insider.com or Signal at alicetecotzky. The note adds that readers should use a personal email address. a nonwork WiFi network. and a nonwork device. and includes a guide to sharing information securely.

Bank of America internship applications campus recruiting AI training Wall Street careers talent acquisition acceptance rate