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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

50 Best Investment Banks to Work For

by Derek Loosvelt  |  September 03, 2013

Earlier this year, Vault surveyed nearly 3,500 banking professionals, asking them to rate their peer firms in terms of prestige, as well as their own firms in several quality of life categories, including compensation, hours, culture, business outlook, training, and overall satisfaction. A weighted formula* was then applied to these ratings to create the 2014 Vault Banking 50-a ranking of the best firms to work for in investment banking. And so, below, in descending order, are the investment... Read More >

Death of BofA Intern Shines Brighter Light on Killer Workweeks

by Derek Loosvelt  |  August 21, 2013

Last week, a 21-year-old Bank of America intern in London died after reportedly working three all-nighters in a row. Although the cause of death has not yet been determined-there have been reports that the investment banking intern, Moritz Erhardt, suffered from epilepsy, and neither BofA nor anyone outside the bank has substantiated rumors that he worked 72 hours straight-the news is shining a rather bright light on the long workweeks and high stress that young bankers routinely deal with... Read More >

Will the London Whale Swallow Jamie Dimon’s Swagger?

by Derek Loosvelt  |  August 14, 2013

Yesterday it was just a rumor but today it became official: the U.S. has filed criminal charges against two ex-JPMorgan traders in connection with a controversial trading position/scandal commonly referred to, for its largesse, as the London Whale. The position (a trade in credit derivatives) went extremely south last year and so far has cost JPMorgan more than $6 billion. What the U.S. is alleging is that the two traders attempted to hide the losses and in the process committed wire fraud... Read More >

Fab Fab Tourre and Wall Street’s Ongoing Image Crisis

by Derek Loosvelt  |  August 06, 2013

Just over a handful of years ago, working on Wall Street carried nearly unmatched prestige for undergraduate and MBA students. It was widely accepted that only the best and brightest from the top schools in the country were admitted into skyscrapers housing the likes of Goldman Sachs, Morgan Stanley, Merrill Lynch, and a defunct firm formerly known as Lehman Brothers. But come 2007, when it was discovered that those same firms played more than a small part in bringing the U.S. economy to its... Read More >

You Don't Have to Work on Wall Street to Work on Wall Street

by Derek Loosvelt  |  July 18, 2013

To many people, the phrase "Wall Street" conjures a young Michael Douglas, hair slicked-back, red suspenders over his shoulders, manicured fingernails curled around a microphone, standing at the head of a classroom filled with eager MBA students as the words "Greed is good" proudly spews forth from between devil-red lips. To others, it conjures a line of imposing skyscrapers inside of which clean-shaven men in blue and gray Italian wool lean back, place their feet on desks, and speak into... Read More >

On Wall Street You Might Get Vacation, But You Can’t Take It

by Derek Loosvelt  |  July 03, 2013

Investment banking analysts and associates notoriously work very long hours. It's not uncommon for a corporate finance analyst at a prestigious bank in New York to regularly work more than 90 hours each week, or for an M&A or restructuring associate to put in more than 80 hours week after week. And it's not even all that unusual for first-year analysts at busy Wall Street firms to log in more than 100 hours in a single week (which means, on average, working more than 14-hour... Read More >

How To Have Summer Fridays If You Don't Have Summer Fridays

by Derek Loosvelt  |  June 21, 2013

Many moons ago, when I worked as an associate for a small investment bank in New York, there was one particular managing director who commonly scheduled Friday morning meetings during the summer in Connecticut, not far from where he lived. I was often involved in these meetings, which meant I had to wake up rather early in my East Village apartment on those summer Friday mornings to get to Grand Central Station and take a Metro North train heading north, to Connecticut. This wasn't always... Read More >

Where's the Love for Working Fathers?

by Derek Loosvelt  |  June 12, 2013

Often forgotten in the conversation about the difficulty of raising children while cultivating a career is the other half of the equation: working fathers.  Of course, historically, since working fathers have been the primary breadwinners of American families and mothers the primary caregivers, there hasn't been much sympathy for fathers when it comes to helping them achieve a better balance between their work and home lives. However, given that women are now increasingly becoming the... Read More >

How Citi Bike Could Change Your Life at Work

by Derek Loosvelt  |  May 30, 2013

There is a lot to dislike about Citi Bike, New York City's new bike-sharing system. First of all, there are five Citi logos plastered onto each Citi Bike. This means, once all 10,000 Citi Bikes are in circulation, there will be 50,000 new Citi logos clogging the streets of New York. Citi, which paid $41 million to fund the program, could very easily have put just one of its logos on each bike. Or, better yet, could've left the logos off of the bikes and just put a few of its logos on the... Read More >

Dear Class of 2013

by Derek Loosvelt  |  May 22, 2013

Dear Class of 2013, I know what you're thinking. 'Why didn't I just drop out of high school, create a simple blog service, then sell the darn thing to a company down on its luck for a you-know-what's-cool one billion dollars?'  No, seriously. College is much more than a path to gainful unemployment. It's about connecting with your peers. It's about sitting in your dorm room, alone, eating Doritos, Facebooking, tweeting Kierkegaard and Louis CK quotes, choosing between the Early Bird and... Read More >

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