In theory, junior bankers aren’t as happy about moving into private equity as they used to be: PE jobs pay less than they did and funds have entire teams of juniors crunching numbers for 12 hours a day, so the job’s become strangely similar to banking when you go in at the bottom. If this is the case, though, no one seems to have juniors at investment banks in London, who are still quitting for private equity in their droves.