Citi's Internship Applications Soar to Unprecedented Levels

Financial News has uncovered some surprising facts about internship applications in investment banks. Contrary to previous claims, it appears that banks did not hire significantly fewer interns this year compared to past years.

In fact, JPMorgan's UK summer analyst program saw an impressive 85% of interns receiving offers for full-time positions at the end of their internship. Goldman Sachs also reported a significant number of interns, with 2,500 this year compared to 2,600 in both 2025 and 2024.

However, there is one bank that stands out from the rest: Citi. Applications for Citi's summer analyst and associate roles skyrocketed more than four times in a single year, reaching 52,000. This is significantly higher than applications to JPMorgan (up only 10% last year) or Goldman Sachs (250,000, implying a 30% decline from the previous year).

It's unclear why Citi received such a large number of applications, but some speculate that it may be due to the increasing use of AI and machine learning tools in job searching. One student interviewed by Financial News reported planning to make 500 AI-fueled applications, but admitted to being ghosted by employers.