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Derek Loosvelt is Vault's senior finance editor. Derek has a BS in economics from the Wharton School at the University of Pennsylvania and an MFA in creative writing from the New School. His writing has appeared in several online and print publications. Previously, he worked in investment banking as an M&A analyst and associate.
It almost seems too good to be true. According to a recent Northwestern University study of more than 2,400 employees at a certain tech firm, when low performing employees sit near high performing employees, the low performers improve their performance by up to 16 percent. Productive employees-those who finished tasks quickly-raised the output of slower colleagues by 8%. Effective employees, who could handle customers' problems without referring them to co-workers to fi Read More >
Every year, Vault surveys thousands of investment banking professionals, asking them to tell us about life at their firms. We ask about culture, compensation, hours, training, and many more areas, including the hiring process. With respect to the hiring process, we ask professionals which traits an ideal job candidate needs to have to get hired. In the past, and again this year, banking professionals told us that the following traits are highly important (and, in some cases, requ Read More >
If you're a recent college or grad-school grad still looking for a city to begin your post-school life, or an experienced profesional itching to change your home base, you'll want to take a look at these eight cities. The eight leading U.S. tech hubs account for slightly less than 10% of U.S. jobs and about 13% of overall job postings. But the cities - Seattle, San Francisco, San Jose, Austin, Raleigh, Washington, Baltimore and Read More >
Although, on average, interns are making a lot less than they did seven years ago, interns for Silicon Valley firms are making more than they did in recent years. And so, depending on where you sit on the earnings scale and where you are in your career, this is either encouraging news (if you're an engineering student) or discouraging news (if you're not in tech and are unhappy with your comp). In any case, here's what students are pulling down these days in their summer jobs. < Read More >
Every day you write numerous emails. Most you probably write quickly, even if they're work-related. However, chances are that, each day, there are at least a few highly important emails that you have to get just right. This means they require more time and more thought. These emails could be notes to clients or colleagues, cover letters to prospective employers, or follow-up emails to interviewers. They could also, of course, be personal emails. Whatever the case might be, these emails... Read More >
Erika Nardini, an award-winning executive and unlikely CEO of bro-ish satirical sports blog Barstool Sports, likes to text interview questions to prospective new hires on the weekends. And she likes to text stuff like, "What's your game plan for the day? What companies do you find interesting and why? Give me an example of a failure. What type of environments DON Read More >
Each year, business school career service professionals from around the world gather at the MBA Career Services and Employer Global Conference. This year, the event took place in San Francisco, from June 27 to June 30. Attending the conference were more than 500 professionals, including international student career expert Marcelo Barros. This week, Vault spoke with Barros about his experience as a presenter at the conference, what came out of the conference that could benefit international... Read More >
In the past few years, Amazon and Walmart have been fighting a war to win all of your disposable income. That is, at some point, in the near future, it's likely that just about everything you buy, from books and music to food and homes, will be sold to you by one of these two companies (or, perhaps, just one of them). And, lately, this war has been getting bloodie Read More >
Although New York Governor Andrew Cuomo declared this to be the "summer of hell" for daily commuters, there's a lot to be thankful for if you work in the New York area, or in any area across the country. Here are four developments that should have even those employees with the most hellish commutes shouting, "Hell, yeah!" 1. More Companies Are Offering Summer Fridays< Read More >
In recent years, in male-dominated industries like finance and technology, there's been a big push to hire and retain more women. On Wall Street, most top banks now have female affinity networks aimed at encouraging women to join the banking industry and to network with each other once they join. Most banks also have significantly changed their recruiting efforts to ensure that they hire more women. And although Wall Street banks have been largely successful at hiring more women at the... Read More >
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