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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

Want to Work for Google or Microsoft? This New Social Media Tool Can Help

by Derek Loosvelt  |  October 08, 2014

Each fall, thousands of college seniors studying computer science and engineering face a difficult decision: Do I accept the full-time job offer I received from the firm I interned with over the summer? Or do I forego that offer (which has a shorter shelf life than milk) and hope that a better offer comes my way before I graduate? Until recently, these 20- and 21-year-old students were on their own when taking a stab at making the right choice. But now, thanks to a tool called Explore Your... Read More >

Business Majors Are Most Bored At Work, Science and Engineering Majors Are Most Financially Secure

by Derek Loosvelt  |  October 03, 2014

It used to be that you studied business in school not because you wanted to change the world and have a meaningful career but to make bank and feel financially secure. But now it appears that majoring in business won't get you job-love or money. According to a new poll conducted by Purdue University and Gallup Education, people who majored in business are much less engaged with their jobs than those who majored in science and engineering, arts and the humanities, or the social sciences and... Read More >

Can the Guy Who Lured LeBron Back to Cleveland Convince You to Live and Work in Detroit?

by Derek Loosvelt  |  October 01, 2014

The new Forbes 400 was announced this week, and although the same guy (Bill Gates) ranked No. 1 for the 21st year in a row, there are a handful of notable new billionaires on the list. The highest-ranking newbie, at No. 62, is WhatsApp co-founder Jan Koum. Earlier this year, Koum sold his mobile messaging business to Facebook for an extremely cool $19 billion. (Incidentally, Facebook CEO Mark Zuckerberg, though no longer the world's youngest billionaire, did grow his fortune by $15 billion... Read More >

Careers in Whistleblowing

by Derek Loosvelt  |  September 24, 2014

Didn't get the bonus you were hoping for? Your firm's salary freeze going on a decade? Rents rising faster than a helium balloon torn from the wrist of a three-year old boy? Not to fear, because the SEC's whistleblower program is here-and could just be your ticket to a life outside of a four-by-four foot cube in a dungeon-like room with no sunlight in sight. As reported by Reuters earlier this week: An anonymous tipster living abroad will be receiving more than $30 million, in the largest... Read More >

Would You Rather Be Poor and Happy in Portland or Rich and Miserable in New York?

by Derek Loosvelt  |  September 17, 2014

Although there are few job opportunities in Portland, Oregon, and its skies are gray more often than they're blue, unemployed young people keep moving to the city in significant numbers. According to the New York Times (and to handful of friends of mine who've migrated to the Pacific in recent years), the reason they go west is for the natural beauty and easier-going lifestyle. That is, no one's moving there for work or money. David Albouy, an economics professor at the University of... Read More >

Why Are Wall Street Women So Unsatisfied?

by Derek Loosvelt  |  September 17, 2014

Last week I examined how much better Ivy League grads have it on Wall Street compared to non-Ivy Leaguers. This week I turn to women vs. men-specifically to women and men at the two most prestigious investment banks on the planet: Goldman Sachs and Morgan Stanley. I was curious to see, parsing our latest Banking Survey data, the difference between how men and women at GS and MS rate their respective firms in various workplace categories. I admit that I expected men (since they make up a... Read More >

Do Ivy League Grads Have More Fun on Wall Street?

by Derek Loosvelt  |  September 10, 2014

If you went to undergrad at one of the so-called Ancient Eight and work on Wall Street, chances are you're having a much better time than your non-Ivy League-educated colleagues.  That's what data from Vault's latest Banking Survey suggests. Consider the below table, in which we compare the ratings that Ivy League-educated banking professionals gave their firms in various workplace categories with those that non-Ivy League grads gave their firms. We've also included the percent difference... Read More >

How to Survive an All-Nighter

by Derek Loosvelt  |  September 03, 2014

In college I used Mountain Dew and NoDoz. When I worked in investment banking, it was coffee and cigarettes. In grad school, I added black tea to the caffeine and nicotine mix. As it turns out, none of these concoctions is a particular healthy one to survive working an all-nighter. Which is what they were being used for. However, I wasn't too far off with at least one part of my homemade all-nighter survival remedy. In a recent article entitled "What the sleep doctors won't tell... Read More >

Vault's 2015 Banking Rankings Are Live

by Derek Loosvelt  |  September 02, 2014

Earlier this year, Vault surveyed nearly 3,600 banking professionals at more than 85 of the top banking firms in North America. We asked these professionals to rate their peer firms on a scale of 1 to 10 based on prestige (they were unable to rate their own firm and were asked to only rate banks with which they were familiar). We also asked them to rate their own firm in terms of compensation, hours, firm culture, work-life balance, business outlook, overall satisfaction, and other quality... Read More >

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