AI-Written Resumes Complicate Recruitment of Junior Bankers

A recent Bloomberg report revealed that banking recruiters are struggling to hire junior bankers as many candidates rely on AI tools to write their résumés. Hiring processes have slowed down as more applicants submit automated responses and generically crafted CVs.

According to Bloomberg, recruiters can now easily recognize AI-written resumes when they spot overused words such as “meticulous” and “robust,” as well as trite expressions like candidates claiming they played “a significant role in shaping” something. Another challenge recruiters face is that applicants aren’t carefully proofreading the information provided.

“If this person didn’t bother to take the time to build a resume, why would I take the time reviewing it and interviewing them,” said Brianne Sterling, head of investment banking recruitment at Selby Jennings, to Bloomberg.

To recruiters, clichéd resumes like the ones they have been seeing are a sign of alert and the use of AI is making them spend more time testing candidate’s skills to make sure they match with the CVs provided.

“A lot of what these bankers are doing in their first jobs is putting together financial models and presentations for clients. It’s probably an immediate red flag for employers if they see a resume with errors in it or looks generic,” said Jennings.

The banking industry is a highly competitive one. Richelle Konian, founder of Careers On The Move, said certain positions can get around 3,000 candidates. “Someone that gets the seat in the job would have the courtesy and respect to submit their resume with integrity,” she said.

Banks are facing multiple challenges when it comes to AI. Hackers frequently target banks, making cybersecurity one of their biggest AI-related issues. A recent report shared by Zayo revealed a surge of 82% in Distributed Denial of Service (DDoS) attacks between 2023 and 2024 and noted the Financial industry as one of the most affected in the market.