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Derek Loosvelt

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.

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All Posts by Derek Loosvelt

WARNING: Working on Wall Street Kills

by Derek Loosvelt  |  June 03, 2015

In the wake of two recent deaths of young Wall Street bankers, it seems a good time to revisit the subject of punishing hours in investment banking. In case you hadn't heard, earlier this week news spread about a 22-year-old Goldman Sachs analyst who'd fallen to his death in what appears to have been suicide. Sarvshreshth Gupta-an analyst in Goldman's telecommunications, media, and technology group who grew in India and received an undergraduate degree from Wharton-had complained to his... Read More >

Does Hiring Based on 'Cultural Fit' Encourage Discrimination?

by Derek Loosvelt  |  June 01, 2015

My first job after graduating college was working as a financial analyst for an investment bank in New York. A couple weeks into that first job, one of the associates I worked with told me how the behind-the-scenes decision making process went in my hiring: The managing director of the group in which I worked wanted to hire another candidate with a higher GPA and better (more directly-related) internships. However, this associate, an alumnus of the same college I went to, as well as a... Read More >

The Wildest and Craziest (and Maybe Most Helpful) Commencement Speech of 2015

by Derek Loosvelt  |  May 27, 2015

Except for processed meat and pie, there's nothing America loves more than comebacks, underdogs, and crazy rambling acceptance speeches. Which means America must love Matthew McConaughey, the Texas-born actor who staged quite a career turnaround on his way to an Academy Award in 2014, and gave quite a strange speech upon accepting that award. More recently, the wild eyed and wild bearded McConaughey visited the University Houston to dole out some career advice to the graduating class of... Read More >

Where the Self-Made Billionaires Work

by Derek Loosvelt  |  May 27, 2015

Forgetting, for a moment, that money is the root of all evil, that money can't buy happiness, and that it's easier for a camel to thread the eye of a needle than for a rich man to enter paradise, let's talk about billionaires. More specifically, let's talk about self-made billionaires, because anyone with a head and a heartbeat can inherit a billion, but not everyone can make a billion on his or her own. And so, first, let's go to the latest billionaire survey by UBS and PWC to find out... Read More >

The One Job Robots Can’t Do (Yet)

by Derek Loosvelt  |  May 21, 2015

"The robots are coming! The robots are coming!" This is more or less the thesis statement of Martin Ford's latest book, The Rise of the Robots: Technology and the Threat of a Jobless Future. According to Ford, who is the founder of a Silicon Valley software development firm and an author of a previous book about robots in the workplace, there's almost no job that a machine can't do these days, thanks to incredible advances in artificial intelligence. What Ford describes, and what other... Read More >

What Will Your Career Look Like When You Retire?

by Derek Loosvelt  |  May 21, 2015

One of the reasons David Letterman gave for his retirement from late-night television was his inability to create the type of viral YouTube videos that his younger competitors (Jimmy Fallon, Jimmy Kimmel) have been doing to great success for years. So perhaps it's fitting that one of the best segments of Letterman's final episode was the below music video of sorts that incorporates clips and stills from Dave's 33-year career. It's a video bound to be watched again, and again, and again. And... Read More >

Forget Goldman and McKinsey, Take a Gap Year Instead

by Derek Loosvelt  |  May 20, 2015

Australians and Europeans have been taking them for decades, and now the practice of taking gap years-ditching the workforce or school for a short time and instead living and working abroad-is catching on in the U.S. And studies show that it might in fact help academic and job performance. Many academic experts argue that a gap year improves students' performance later on, makes them more mature and more independent. A study at Middlebury College in Vermont found that its students who had... Read More >

Wall Street’s Return: Wonderful or Frightful?

by Derek Loosvelt  |  May 18, 2015

It's official: Wall Street's back. That is, the banking industry is just about back to where it was before the financial crisis of 2008 with respect to both profits and staffing. And so, depending on where you stand, the Return of Wall Street is either a sugary sequel to a superhero blockbuster, or a gory sequel to a frightening slasher flick. Masters of the Universe Chances are if you're about to embark on a career in finance, or are a seasoned securities professional, or are an Upper... Read More >

57-Year-Old Proves It’s Never Too Late to Work for a Start-up

by Derek Loosvelt  |  May 18, 2015

Not all start-up employees are unshaven twenty-somethings who wear T-Shirts, sneakers, and jeans to the office. In fact, some are unshaven fifty-somethings who wear T-shirts, sneakers, and jeans to the office. One such employee is Jerry Weiss, a former Citi and JPMorgan Chase banker who, at 57, is by far the oldest-and most experienced-employee of a New York-based start-up called Bond Street. Through three decades, Jerry Weiss wore coats and ties to the offices where he managed credit... Read More >

9 Tips for Breaking Into Advertising

by Derek Loosvelt  |  May 13, 2015

The final episode of the final season of AMC's Mad Men airs this Sunday night. And if you've been watching Matthew Weiner's masterful series during its seven-season run, you've seen, among other things, all of the following: the show's central ad man Don Draper nailing numerous ad pitches; up and coming ad woman Peggy Olson coming up with numerous ad slogans; slick salesman Pete Campbell expertly schmoozing numerous top clients; and carefree and full bearded art director Stan Rizzo... Read More >

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