Significant entry-level job and internship declines — competition rising + finance layoffs broadening + AI automation threats
Key Questions
How much have entry-level jobs and internships declined in NYC?
Bloomberg reports a ~37% drop in NYC entry-level jobs (~30k fewer) from 2022–2024, with internships declining ~50%. This reflects rising competition and broader market pressures.
Which finance firms have announced layoffs in NYC?
Goldman Sachs cut 343 NYC VP jobs due to AI, Amazon eliminated 800 Manhattan corporate jobs (Oct 2025-Jan 2026, citing taxes and culture), with similar actions at Morgan Stanley, JPMorgan, Citi, and Bank of America.
What risks does AI pose to junior and mid-level roles?
76% of employers see a 50% automation risk for jobs; AI-driven layoffs at companies like Atlassian and Block are squeezing juniors and mids.
What mitigation efforts are underway in NYC?
Initiatives include NYCEDC/Flatiron/17 workforce organizations targeting 2026, city halls, women in tech events, and roles like Innovation Analyst for CS grads in AI/ML/DS.
How competitive are finance salaries despite layoffs?
Finance roles remain competitive with salaries ranging from $210-275k, even amid broadening layoffs.
Bloomberg ~37% NYC entry-level drop (~30k fewer, 2022–2024), ~50% internships; Goldman 343 NYC VP AI cuts, Amazon 800 Manhattan corp jobs (Oct25-Jan26, taxes/culture), Morgan Stanley/JPM/Citi/BofA; 76% employers see 50% automation risk; AI layoffs (Atlassian/Block) squeeze juniors/mids. Mitigations: NYCEDC/Flatiron/17 workforce orgs (2026), city halls, women tech events, Innovation Analyst (CS AI/ML/DS). Finance $210-275k competitive. Status: developing.