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For decades, the early years of an investment banking career followed a fairly predictable script—long hours, repetitive tasks, never-ending Excel models, pitch decks, and research assignments. None of this sounds particularly glamorous, but it was how entry-level professionals learned the job. Now that AI is everywhere these days, a new wave of AI startups is seeking to automate the kinds of tasks junior bankers have traditionally handled. So, what does this mean for those looking to start a career in banking?
What Is Rogo?
Rogo was founded by former bankers who understood the problem firsthand: a significant portion of junior-level work in finance is time-consuming, repetitive, and process-driven. Their solution was to build an AI platform trained specifically on financial workflows; everything from market research and valuation analysis to building presentations and investment materials.
The company recently raised $160 million in Series D funding at a $2 billion valuation, with backing from major investors including Kleiner Perkins and Sequioa Capital, and is now used by tens of thousands of financial professionals around the world.
According to the company, its tools can generate Excel models, investment memos, and pitch materials—the exact deliverables junior bankers typically spend hours (or days) creating.
What Will Happen to Entry-Level Roles?
So, if AI can do the work that junior bankers are hired to do, does that mean fewer entry-level roles? The short answer is “possibly,” but what’s more likely to happen is a change in how value is created at the junior level.
Historically, entry-level roles were focused primarily on building models, formatting slides, and compiling research. Now that AI is starting to handle that work, junior professionals will be expected to review and validate AI outputs, interpret results, and connect analysis to real business decisions.
Why This Trend Is Coming from Inside the Industry
AI startups like Rogo aren’t being built by outsiders but rather by former bankers. The founders are drawing directly from their own experience with inefficient workflows and long hours to design tools that strengthen the process.
What this means is that these tools are tailored to real-world problems and not abstract use cases. It also means the people building them understand exactly where automation is most likely to succeed: structured, repeatable tasks that don’t require human judgment.
Critical Skills
If AI is taking over execution-heavy work, you might be wondering what skills still matter for junior-level employees. For starters, technical expertise alone won’t cut it in the age of AI, so what employers are looking for is a combination of good judgment, strong communication skills, solid business understanding, and the ability to interpret and refine AI-generated outputs.
Keep in mind that while AI can generate a financial model, it can’t explain why that model matters to a client or whether the assumptions behind it actually make sense. This, along with the skills mentioned above, is where early-career professionals can still add value.
The New Career Strategy
If you’re pursuing a career in finance (or any field where AI is being applied), it’s critical that you learn how to use AI tools effectively. This means understanding what AI can do well, where it falls short, and building skills that complement AI tools while also differentiating yourself from other candidates.
It’s extremely important that you don’t treat AI as a simple shortcut. Remember, AI is a tool, so treat it like any other workplace tool. Position yourself as someone who can oversee, interpret, and improve AI outputs, and you’ll be far more likely to stand out.
The bottom line is, the “grunt work” that once defined the first years of a career is being automated. In its place, a new version of the role seems to be emerging; one that requires AI-savvy, good judgment, and perhaps more responsibility earlier on. Indeed, the expectations around junior-level work may be changing, but the sooner you can adapt, the more you’ll be able to benefit from it.
Rob Porter is an editor at Vault.
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