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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

Dear Sam Polk (A Letter to a Wealth Addict)

by Derek Loosvelt  |  January 24, 2014

Dear Mr. Polk, I read (re-read) your January 18, 2014 New York Times op-ed, "For the Love of Money," with great interest and even greater admiration. Currently, I'm a third-year college student at a school in Boston (☺), and, like the young Sam Polk, before he realized that he was addicted to wealth, I, too, am very enthusiastic, to say the least, about pursuing a career on Wall Street. Which is the reason I'm writing you today. Although I know that you are a very busy man (I know that you... Read More >

The Revolution Against Open-Office Plans Has Begun

by Derek Loosvelt  |  January 16, 2014

Although 70 percent of the American workforce now works shoulder-to-shoulder in football-field sized rooms without anything as much as an iPhone-thin wall separating their desks, studies continue to show that open-office plans are detrimental to employees' concentration, productivity, creativity, stress level, and job satisfaction, not to mention their health. The following is an excerpt from a January 7, 2014 New Yorker article called "The Open-Office Trap" written by Maria Konnakova:  In... Read More >

The Werewolf of Wall Street

by Derek Loosvelt  |  January 09, 2014

The greed is unimaginable. The hubris is pornographic. And the smug, arrogant mask on the main character's face will make you clench your fists and grit your teeth with rage. No, I'm not talking about the latest Scorcese-DiCaprio collaboration but the latest PBS Frontline documentary, "To Catch a Trader," which follows the U.S. government's insider trading investigation of self-proclaimed Hedge Fund King Steven A. Cohen and his eponymous billion-dollar hedge fund empire.  The special,... Read More >

Best and Worst of 2013: The Year in Work and the Workplace

by Derek Loosvelt  |  December 19, 2013

When it comes to career-related news and developments, there was a lot to celebrate in 2013. There was also a lot to condemn. And below, in no particular order, is a collection of bests and worsts from the year in work and the workplace. Best Use of a Beastie Boys Song to Attempt to Increase the Number of Engineers Who Are GirlsToy company GoldieBlox thought it had hit gold when its ad using the Beastie Boys' song "Girls" received more than 8 million views. However, when Mike D and Ad-Rock... Read More >

Our 13 Most Popular Blog Posts of 2013

by Derek Loosvelt  |  December 18, 2013

During the past year, our readers wanted to know which firms topped our annual rankings of law, banking, accounting, and consulting firms. They wanted to know how to write letters of recommendation for themselves and how not to write follow-up letters to employers. They also wanted to know why women aren't doing a better job of networking, and if an M.B.A. is still worth their dime and a damn. And perhaps above all else, they wanted some simple tips on how to succeed on the job. Here, in... Read More >

From Intern to CEO: Mary Barra Named GM’s First Female Chief

by Derek Loosvelt  |  December 11, 2013

I grew up in the 1980s a few miles north of Detroit, and during that time in the area it seemed like every third classmate of mine came from a household whose father worked for one of the Big Three automakers-GM, Ford, or Chrysler. I also remember quite a few fathers working for auto part manufacturers. However, I don't recall any of my classmates' mothers working in the automotive industry. In fact, few of my classmates' mothers worked full-time jobs at all. In 1980 I was eight years old.... Read More >

How to Avoid #AskJPM and Other PR Nightmares

by Derek Loosvelt  |  December 05, 2013

A few weeks ago, JPMorgan's supposedly harmless Twitter exercise #AskJPM-in which the bank invited Twitter users to pose career-related questions to JPMorgan Vice Chairman James B. Lee Jr.-quickly backfired, and instead of asking Lee Jr. questions, the Twittersphere took the opportunity to tell JPMorgan and its management team what they really thought of them. Tweets like the following were posted (with the #AskJPM hashtag) by the hundreds: "What's your favorite type of whale?"; "Do you feel... Read More >

The Great American Internship Alternative

by Derek Loosvelt  |  November 21, 2013

Slowly and steadily, a national emergency has been emerging on our nation's highways, and it has nothing to do with rising gasoline prices and everything to do with the aging population of our country's finest long haulers. That is, many of America's most experienced truck drivers-integral cogs in the national freight and shipping machine-are approaching retirement age, and there aren't many wannabe young long haulers in line to take their place. In fact, there's such a truck-driving labor... Read More >

Nail These 9 Tricky Interview Questions and Wall Street Will Hire You to Intern

by Derek Loosvelt  |  November 13, 2013

Although working for a bulge-bracket investment bank is no longer a model-and-bottle proposition, it's still one of the most lucrative first jobs you can get right out of college or MBA school. And if you want to land at Goldman, one of the Morgans, Credit Suisse, Deutsche Bank, Barclays, or BofA, you're likely going to have to get in through the summer door. That is, you're going to have to first land a summer internship with your bank of choice, because these days, with competition so... Read More >

Why Goldman Sachs’ New Saturdays-Off Policy Won't Work

by Derek Loosvelt  |  November 07, 2013

Last week, when I clicked on the headline, "Goldman Sachs Pushes Junior Investment Bankers to Take Weekends Off," I assumed I'd be sent to a URL containing the words Comedy Central, or Funny or Die, or perhaps The Onion. Instead, to my surprise, I was taken to Bloomberg.com, where, in place of what I assumed to be a piece of satire, was a real piece of news, which included, among other quotes, this one from David Solomon, Goldman's co-head of investment banking, explaining the rationale for... Read More >

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