**Bank of America Corp.** is taking a firm stance against its investment-banking analysts exploring opportunities outside the company. In a move to curb the tide of defections to private equity firms and competitors, the bank is now requiring junior bankers to disclose any job offers they've accepted elsewhere. Failure to comply could result in **redeployment to another department** within the bank.

### The Inside Scoop
According to insider sources, managers are directly approaching junior bankers, urging them to reveal any pending employment opportunities. Those who admit to accepting offers face the likelihood of being **shifted to a different role or department**, a strategy seemingly designed to retain talent within the bank's ecosystem.

This development highlights the **intense competition for young talent** in the finance sector and the lengths to which institutions like Bank of America will go to maintain their workforce.

Bank of America Corp. is pushing its investment-banking analysts to disclose if they’ve accepted jobs elsewhere and telling them they face redeployment if they do so, the latest attempt by Wall Street lenders to stem defections to private equity firms and other rivals.

Bank of America's Bold Move: Junior Bankers at Risk of Reassignment for Job Hunting

**Gen Z is desperate for work.** Battered by **artificial intelligence**, employers worried about **tariffs**, and hamstrung by a lack of job and internship experience, many college graduates are fighting to secure jobs even as **rents remain high** and sizeable college debt payments loom.

The number of job listings for the entry-level corporate jobs traditionally available to young college graduates has fallen **15%** even as the number of applications for each job has accelerated **30%**, according to the career platform Handshake. For the first time on record, joblessness among the highly educated has climbed above the overall unemployment rate, the Financial Times reports.

![Brianna Linehan attends a recent career expo at the University of Connecticut's School of Business. The job market for Gen Z is harder than it has been in years, economists say.](https://s.hdnux.com/photos/01/54/16/34/28370690/7/ratio3x2_960.webp)

Many graduates, living at home while applying madly to online jobs, never hear back from their targeted employers, leaving them continually retooling their resumes and cover letters.

"80% of the time, I don’t hear back," said Maeve Stone, 22, a recent college graduate from West Hartford.

For others, like Kayleen Yacyk, who graduated from the University of Connecticut in May, it's worse. She estimated she has applied for more than **150 jobs** without even a single returned phone call.

"You spend all these four years learning and being prepared to enter the world, and now I don't have anything to show for it," Yacyk said. "I have a lot of friends in the same boat."

A survey released this month found that nearly **one in four Gen Z workers regret attending college**. The survey, by Resume Genius, found 23% regret going to college and 13% would’ve chosen a skilled trade or no-degree career. The feeling is particularly acute for men, with 28% expressing regret.

The labor market for recent college graduates “deteriorated noticeably,” dipping to **5.3%** in the second quarter of 2025, with the underemployment rate for college grads at more than **41%**, according to the Federal Reserve Bank of New York. That's the highest reading since 2021. Among those who graduated last year, **58%** are still looking for their first job, according to Kickresume.

![A recent career fair at the University of Connecticut in Storrs.](https://s.hdnux.com/photos/01/54/15/32/28366515/7/ratio3x2_960.webp)

“AI is taking away some of these entry-level jobs,” said Kelly W. Kennedy, director of transformative learning and career education at UConn. "When they take the entry-level jobs away, they are taking away the steppingstones. What is that doing? It means the next level of job is going to require more skills and more degrees.”

Waterbury job coach Valerie Martinelli agreed.

"They are getting boxed out," she said of recent college graduates seeking work. "The job descriptions are almost that of a mid-career rather than an entry-level position. (Employers) feel they can get so specific in their job applications, requiring people to know this exact thing. They are not looking for the person who knows enough to learn. They are looking for this perfect unicorn that knows how to do absolutely everything."

That leaves a younger generation, already grappling with **more debt** and more **mental health challenges** than previous generations, frustrated, dejected and confused.

"The job descriptions are not written for a recent grad," Kennedy said. "They are written for an ideal candidate. So you have risk-averse Gen Z who won’t apply because they don’t understand the job function. They get personally offended if they get rejected and I say it’s not personal, it’s AI."

Yacyk, a marketing major who returned home to Pennington, N.J., after college, said, "At this point, we all expected to have jobs."

She now works as a server at a country club, despite looking for a professional position since October 2024.

"I just hope they see potential and give me a chance, but clearly that has not been the case for me," Yacyk said. "Everyone is applying for jobs, even people who graduated last year."

Still, Yacyk is more fortunate than most. She graduated without college debt. About **30% to 40%** of students take out loans to pay for college, with the average student loan an estimated **$536 a month**, according to Education Data Initiative. Most college graduates must begin paying those loans within six months of obtaining their degree. But many college graduates, even those with coveted internships, are not even getting replies to applications.

Fred V. Carstensen, a UConn professor of finance and economics director of the Connecticut Center for Economic Analysis, said he believes continued uncertainty over tariffs, coupled with more than **125,000 federal layoffs** that have saturated the job pool with skilled professionals, has made companies cautious about hiring.

"They want to fill in (positions), but they don't want to fill in with neophytes," he said. "They want someone who already has the skills established. Part of what you're doing when you are hiring young people is, you don't know what their strengths are, and right now, given all the uncertainty, they're saying, 'Let's just be cautious because we just don't know.'"

Now, those cut from federal positions will be tough competition for new grads.

"You have very experienced people who are leaving the federal government," Carstensen said. "Look at all the lawyers who have been sacked. These are good attorneys. Everybody's going to have a hard time. If you're freshly minted, you're going to be facing a very, very hard time. And for the next few years."

Carstensen said he anticipates **four years of uncertainty**.

As a generation, Gen Zers tend to be risk-averse largely because social media can so swiftly expose a gaffe, Kennedy noted.

“They’ll say, ‘Do I have to call?’ a connection,” she said. “They don’t like to look foolish. They are uncomfortable with the human connection because it leaves them in a vulnerable space.”

At the same time, they crave authenticity and “they want meaningful work,” Kennedy said, which can be at odds with an ecosystem increasingly dependent on AI to screen job candidates.

The challenges for Gen Z come from without and within, Kennedy said. Many grads in their early 20s, hampered by a lack of job or internship experience because many of those opportunities were shut down during the pandemic, have a romanticized vision of what work is, and often are unable to match their values and skills to jobs.

“They are thinking about these jobs like they’re dream jobs. There are no dream jobs,” she said.

Stone, who graduated from Skidmore College in May, said, "I honestly thought that things were just going to fall into place. I’ve had two internships so I feel like the natural progression should be to get a full-time position."

A management and business major, Stone completed an internship with Global Atlantic last year.

"I just feel frustrated. And I was trying all year. Just give me a chance. I know myself and I know I’m a hard worker. I’m motivated. I’m creative and determined. I think if I was given a chance, I could really perform," she said.

Part of the difficulty is the job-search process itself, which has been upended by applicant-tracking systems and AI.

![Barbara Zerillo, Post University's director of the Center for Career and Professional Development.](https://s.hdnux.com/photos/01/53/53/64/28228891/7/ratio3x4_960.webp)

"It is a whole new ball game with the job search," said Barbara Zerillo, director of the Center for Career and Professional Development at Post University in Waterbury. "Resumes are getting scanned by AI or an applicant-tracking system before any human eyes see it."

Kennedy said many candidates simply prompt ChatGPT to create resumes and cover letters that include every job description keyword into a resume, a process she actively discourages.

“It's a battle of AI versus AI. Recruiters are in a pickle right now," she said. "The actual system they thought was going to make life easier now is making life challenging for them.”

Job search sites like Indeed and LinkedIn have made it so easy for applicants to apply to jobs that human resources departments are inundated with hundreds of applications for a single position. The New York Times reports that the number of applications submitted on LinkedIn has surged more than **45%** in the last year. The site now receives an average of **11,000 applications per minute**, the Times reports. That's likely the effect of the strategy Martinelli calls "spray and pray," in which applicants just hit "apply" to any position for which they might qualify.

"I'm against it," Martinelli said. "It takes absolutely no time. You can do 100 of those a day. Employers have gotten too smart. They don't want you overusing AI. It doesn't look good."

To cope, many take gig work. About **4 in 10 millennials and Gen Zers** have side jobs, according to research by Deloitte. Nearly **20% live with their parents**. As a generation, they are struggling with money. In the past year, credit-card delinquency rates were highest for those ages 18 to 29, according to the Wall Street Journal, despite young adults trying to rein in spending. The Journal reported on data from Circana that found spending in stores and online among 18- to 24-year-olds dropped **13%** between January and April.

Kelly W. Kennedy, director of transformative learning and career education at UConn, said, “AI is taking away some of these entry-level jobs."

Gen Z's Job Hunt Crisis: AI, Tariffs, and the Vanishing Entry-Level Dream

## The Entry-Level Crisis and the Talent We Can’t Afford to Lose

Unemployment among recent college graduates **reached 6.6 percent in May**—a four-year high—dampening spirits after the celebrations of their hard-earned degrees. The downturn has disproportionately impacted younger workers, with many struggling to secure their first professional roles. We are grappling with the **steepest unemployment rate for recent college graduates** in the U.S. in more than a decade. This is more than a labor market statistic. It’s a challenge to long-term competitiveness. Allowing this trend to continue risks draining the workforce of the energy, optimism and innovation this generation could deliver. We can’t let this break the spirit of our young people.

Surveys point to two major culprits limiting opportunities at the entry level: **persistent economic pressures and the rapid rise of A.I. tools**. This is one of the most shortsighted mistakes that businesses are making right now. Rather than viewing young people as a cost due to training needs or lack of experience, employers should shift focus to what is gained from **flexibility, adaptability and tech fluency** that young people bring to the table. Gen Z should be regarded as a critical cohort in today’s workforce.

### Flexibility for a changing workforce

The World Economic Forum’s Future of Jobs 2025 report forecasts that while **A.I. will displace 9 million jobs** in the next five years, 11 million new jobs will also emerge, many in roles that don’t yet exist. Many of these roles will undoubtedly be pioneered by the youngest professionals as they find their footing in the workforce. One thing is clear: the nature of all jobs is likely to change as A.I. penetrates the workplace. It’s often said that hiring should never focus on specific skills for a particular role, as those skills will inevitably evolve. Young professionals, with their **agility, flexibility and commitment to continuous learning**, are particularly well-positioned to adapt, making them uniquely suited to thrive in a shifting skills landscape.

### The true natives of the A.I. era

Gen Z is not just adapting to A.I.; they’re growing up with it. As **digital natives and significant stakeholders of the A.I. revolution**, they are essential in testing, experimenting and institutionalizing how we use A.I. During the siloed era of the pandemic, many young people honed advanced technology skills in virtual environments. It is often the youngest person in the room who is using new tools, ones that may not show up on a resume or be used in traditional applications but are highly relevant in today’s hybrid and digital-first workforce.

PwC’s latest Global Workforce Hopes and Fears Survey indicated that only **20 percent of senior executives and 17 percent of managers** use generative A.I. daily, compared with **82 percent of young leaders** aged between 22 and 39, according to research from Google Workspace and The Harris Poll. As active adopters, young employees can be leveraged as first movers, in-house A.I. specialists and reverse mentors who can guide more experienced colleagues through new technologies. That requires more than token inclusion in projects. To harness the potential of A.I. in the workplace, organizations must empower young people to lead conversations, fostering a more inclusive, collaborative and future-ready work.

### Fresh perspectives, energy and optimism

The workplace is changing faster than ever, and the skills employers demand are **evolving 66 percent more rapidly** in A.I.-exposed roles. In such a fast-changing environment, infusing teams with fresh perspectives and optimism is not just beneficial—it’s essential. When we recognize Gen Z professionals as digital natives, teachers and current leaders, we unlock new opportunities for creativity, adaptability and fresh thinking. Young employees bring an eagerness to experiment, a hunger for learning and a resilience under uncertainty. Today’s technological landscape requires a new way of thinking for how we can upskill and mentor young employees to make a real impact in the workforce, even if it means departing from traditional entry-level career paths.

### A generational imperative

Despite these seismic shifts in the nature of work and the discouraging statistics about the entry-level labor market, the potential contributions of young professionals are vast. Half of the world’s population is under 30 years old. They are the generation poised to address urgent global challenges, from climate change to societal inequality. The World Economic Forum’s 2025 Global Shapers Impact Report highlights how youth-led projects are already **driving meaningful change globally**.

Young people are the key to a better future, but they’re not going to reach their potential unless we invest in them. Business leaders have a responsibility—and an opportunity—to mentor young professionals, and offer them critical career opportunities. This investment is a two-way street: seasoned leaders share industry wisdom, while younger colleagues offer insights into emerging technologies and evolving cultural trends. This exchange is how we future-proof our organizations and ensure that innovation, empathy and adaptability remain at the heart of business.

Amid rising graduate unemployment, Gen Z’s agility and tech skills may be the key to workforce competitiveness.

Gen Z: The Untapped Powerhouse Reshaping the Future Workforce

## **The AI Revolution and Gen Z's Career Prospects**

In a job market that seems increasingly hostile to **Gen Z graduates**, with **AI agents** and **ghost jobs** becoming the norm, **OpenAI CEO Sam Altman** offers a contrasting perspective. He believes that **this is the most exciting time to start a career, perhaps ever**. 

### **The Tools of Tomorrow**

Altman highlights the unprecedented capabilities available to young professionals today. "A 25-year-old in Mumbai can probably do more than any previous 25-year-old in history could," he stated on the *WTF* podcast. This is thanks to the **advanced tools and technologies** that are now at their disposal, far surpassing what was available in previous generations.

### **The Reality for Gen Z**

Despite Altman's optimism, the reality for many **Gen Zers** is stark. **Entry-level positions** are dwindling, and employers now expect new graduates to possess **fully developed skills** from day one. **AI tools like ChatGPT** are taking over tasks that were traditionally the domain of junior staff, making it harder for young professionals to gain a foothold in industries like tech.

### **The NEET Crisis**

The situation is so dire that **4.3 million young people** are now classified as **NEETs** (Not in Education, Employment, or Training), a testament to the challenges facing this generation in a rapidly evolving job market.

### **Altman's Envy and the Future of Work**

Interestingly, Altman admits to feeling envious of **Gen Z's career prospects**, suggesting that the jobs of the future—exploring the solar system or roles with **sky-high salaries**—will make his early career look "boring" by comparison. He draws parallels between the current **AI revolution** and the advent of computers, emphasizing that **creativity and idea quality** are now the only limits to what young professionals can achieve.

### **Divergent Views on AI's Impact**

While Altman and others like **Bill Gates** see AI as a tool for **enhancing productivity and creating new opportunities**, some tech leaders warn of its potential to **displace jobs**. **Anthropic CEO Dario Amodei** predicts that AI could eliminate **50% of entry-level white-collar jobs** within five years, leading to significant unemployment.

### **The Path Forward**

The key to navigating this uncertain landscape, according to Altman, lies in how **Gen Z integrates AI tools** into their skill sets. As the job market continues to evolve, adaptability and innovation will be crucial for the next generation of workers.

Billionaire OpenAI CEO Sam Altman has a message for Gen Z graduates: ‘This is probably the most exciting time to be starting out one’s career, maybe ever.’

Sam Altman's Vision: Why AI Era is the Best Time to Start Your Career

**Real Madrid**'s star forwards **Kylian Mbappe** and **Vinicius Junior** are entering what former player **Steve McManaman** calls the "biggest season" of their club careers. Despite Mbappe's impressive tally of **44 goals and five assists** last season, Madrid fell short as Barcelona clinched a domestic treble and his former team, **Paris Saint-Germain**, achieved a historic treble, including their first **UEFA Champions League** title.

Vinicius, too, couldn't replicate his pivotal role in Madrid's **2023/24 league and Champions League double**. McManaman, in an exclusive with **TNT Sports**, emphasized the need for both players to elevate their game under new manager **Xabi Alonso**. "They were very underwhelming last year," McManaman noted, pointing out Madrid's second-place finish to Barcelona and the necessity for Mbappe and Vinicius to contribute more defensively and collectively.

### **Trent Alexander-Arnold's Madrid Challenge**

**Trent Alexander-Arnold** is another player under the spotlight, with McManaman praising his adaptation to life in Spain. The return of **Dani Carvajal** from injury promises "great competition" for the right-back spot, offering Madrid depth and quality.

### **Marcus Rashford's Barcelona Loan: A Fresh Start**

**Marcus Rashford**'s season-long loan to **Barcelona** from **Manchester United** represents a crucial reboot for the England international. With competition from **Lamine Yamal**, **Robert Lewandowski**, and others, Rashford has a golden opportunity to reignite his career at one of the world's most prestigious clubs.

McManaman sees this move as an "incredible opportunity" for Rashford to prove his worth and potentially secure a permanent transfer, highlighting the competitive yet supportive environment at Barcelona.

Real Madrid star forwards Kylian Mbappe and Vinicius Junior are set for the "biggest season" of their club careers, according to former player Steve McManaman.

Mbappe and Vinicius Face Defining Season at Real Madrid, Says McManaman

## **Why Employers Should Focus on Early-Career Talent in Insurance**

There are significant **short- and long-term benefits** for employers to hire students, recent graduates, and others early in their careers for insurance roles. Here are nine expert-backed strategies to attract and retain top talent:

### **1. Establish Mentorship Programs for New Hires**

Pairing experienced brokers with new hires during their first 6-12 months can **boost retention rates to 85%**. Structured programs with clear milestones and shadowing opportunities help newcomers build confidence in this complex field.

### **2. Create Training Pipeline for Curious Learners**

Stop chasing "perfect resumes" and focus on **curiosity and communication**. A paid training pipeline for smart, hungry individuals with zero experience but the right attitude can yield some of your strongest team members.

### **3. Launch Branded Insurance Career Academies**

Create **experiential learning academies** that combine skill-building, industry education, and real-world projects. This approach attracts candidates, improves retention, and positions your company as a long-term talent developer.

### **4. Leverage Carrier Partnerships for Referrals**

Tap into carrier referral networks to find candidates with solid insurance fundamentals but seeking a more entrepreneurial environment. This strategy can **increase retention rates to 94%**.

### **5. Implement Employee Referral Bonus Program**

Offer **$500 bonuses per successful hire** to current employees. This turns your team into recruiters, reduces cost per hire, and ensures candidates come with trusted referrals.

### **6. Engage Students Through Campus Recruitment**

Send employees to college campuses to meet graduating students. This builds long-term contacts and helps identify future leaders early.

### **7. Partner with Universities for Real-World Challenges**

Collaborate with universities to run **"Insurance Innovation Challenges"** where students work on real claims scenarios. Top performers can transition into internships or full-time roles.

### **8. Develop Career Discovery Pipeline for Candidates**

Focus on **educating candidates** about the career potential in insurance. Informational sessions and "day-in-the-life" stories help them visualize the role before applying.

### **9. Use Assessments to Identify Suitable Candidates**

Assessments like the **SPQ Gold FSA** can help identify candidates with the motivational profile suitable for insurance sales, saving time and resources.

By adopting these strategies, employers can **build a robust pipeline of early-career talent**, enhance loyalty, and future-proof their workforce.

There are important short- and long-term benefits for employers to hire students, recent graduates, and others early in their careers for insurance roles. We reached out to nine hiring experts to get their thoughts: Establish Mentorship Programs for New Hires I’ve seen the best results come from establishing mentorship programs where experienced brokers are paired with new […]


Bank of America's Bold Move: Junior Bankers at Risk of Reassignment for Job Hunting

Summary:

Bank of America mandates junior bankers to disclose any accepted job offers from competitors

Non-compliance could lead to redeployment within the bank, not termination

This strategy aims to reduce defections to private equity firms and rivals

Reflects the high-stakes competition for young talent in the finance industry

The Inside Scoop

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