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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

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, 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 >

Work on the Wild Side: Lessons From the Life of Lou Reed

by Derek Loosvelt  |  October 30, 2013

Lewis Allan Reed, better known as Lou Reed, the iconic front man for the legendary New York City band the Velvet Underground, passed away this week at the age of 71. During his lifetime, Reed, through his music and lyrics, built a worldwide fan base of millions of people. He also served as inspiration for at least two generations of musicians. It was said (allegedly by Brian Eno, another rock icon and Reed collaborator) that "only 30,000 people bought the Velvet Underground's début record,... Read More >

Q&A With Rani Nazim, a Female Executive Director at Morgan Stanley

by Derek Loosvelt  |  October 23, 2013

Rani Nazim is an Executive Director in the Fixed Income Division at Morgan Stanley, where she trades investment grade bonds and credit default swaps. She has worked for Morgan Stanley for the past nine years. Recently, she sat down with Vault and answered questions concerning the current state of female diversity in investment banking, what it's like to be a woman on Wall Street, and Sheryl Sandberg's "Lean In" philosophy. Below is an excerpt from that conversation.  Where did you grow up... Read More >

Reading Munro and Murakami Improves Interviewing Skills Says Study

by Derek Loosvelt  |  October 09, 2013

Last week, the New York Times highlighted a recent study conducted by two psychologists from the New School that apparently proves that reading literary fiction can help you become a better interviewee. Say you are getting ready for a blind date or a job interview. What should you do? Besides shower and shave, of course, it turns out you should read-but not just anything. Something by Chekhov or Alice Munro will help you navigate new social territory better than a potboiler by Danielle... Read More >

Is Silicon Valley Just as Decadent as Washington and Wall Street?

by Derek Loosvelt  |  October 03, 2013

In a recent interview with online arts and political magazine Guernica, George Packer, a staff writer for The New Yorker, talks about his latest book, The Unwinding: An Inner History of the New America, which was published earlier this year and was inspired, in part, by "the failure of Wall Street, the failure of Washington, [and] the bottoming out of the economy." Here's how Guernica describes the book: As a work of history, the "unwinding" refers to a protracted process of ideological... Read More >

1,825 Days Later: Wall Street After the Crisis

by Derek Loosvelt  |  September 18, 2013

Five years ago this week, Lehman Brothers infamously filed for bankruptcy, Merrill Lynch was force-fed to Bank of America, and 80 percent of AIG was purchased by the Federal Reserve Bank of New York in exchange for $85 billion in debt in what was the largest government bailout in U.S. history. In other words, this week marks the fifth anniversary of the financial crisis of 2008.  In the ensuing months of that brutal September '08, hundreds of thousands of Wall Street workers lost their... Read More >

The 16 Most Disgruntled Analysts on Wall Street

by Derek Loosvelt  |  September 11, 2013

Last week, Vault released its latest Vault Banking 50, a ranking of the best investment banks to work for in North America. And for the first time, a non-bulge-bracket bank ranked No. 1 in the rankings: The Blackstone Group. As mentioned, Blackstone's rise to the top spot underlined the fact that many of the largest Wall Street banks have grown somewhat out of favor with jobseekers as well as with clients and employees, not to mention the public, which has little to no empathy for the... Read More >

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... 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 >

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