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

Goldman Sachs the Philanthropist?

by Derek Loosvelt  |  August 08, 2012

In a recent ranking of the top corporate donors in 2011, Goldman Sachs ranked No. 2 among all U.S. firms. According to the Chronicle of Philanthropy's annual Corporate Giving Survey, Goldman donated $337.1 million in both cash and products to charitable causes during the year, second only to Wal-Mart, which donated $344.4 million.Goldman wasn't the only the bank among the top givers. Wells Fargo ranked No. 4 with $213.5 million, Bank of America ranked No. 6 with $208.4 million, JPMorgan... Read More >

Wall Street Women Talk Diversity

by Derek Loosvelt  |  July 25, 2012

A recent New York Times article entitled "On Wall St., Gender Bias Runs Deep" points out that more than 50 percent of workers in finance are female but just 3 percent of finance CEOs are women. The piece also quotes Ilene H. Lang, the president and CEO of Catalyst, a New York research and consulting nonprofit that focuses on women's career advancement, as saying that what's holding women back from rising the corporate ladder on Wall Street (and in other macho-cultured industries) is not... Read More >

Bulge Bracket or Boutique IB?

by Derek Loosvelt  |  July 18, 2012

Prior to the financial crisis of 2008 there was little doubt that if you were a Wall Street-minded undergrad or MBA student and were offered a position with a bulge bracket bank (the likes of Goldman Sachs, Morgan Stanley, J.P. Morgan, Citi, and Credit Suisse, among others) you would've accepted without thinking twice. However, that was prior to Fab Fab, the London Whale, Citi almost folding, BofA swallowing Merrill (and keeping a few billion in losses a secret), Barclays' Libor-rigging... Read More >

Does Work/Life Balance Exist on Wall Street?

by Derek Loosvelt  |  July 11, 2012

It's no secret that investment banking analysts and associates work an obscene number of hours per week. Of course, hours can vary from firm to firm, city to city, and group to group. (Bulge bracket M&A bankers in New York, for example, tend to work more than corporate finance bankers in San Francisco.) But overall, I-banking requires junior bankers to work anywhere from 80 hours per week on average up to 110 hours week. And, in some cases, bankers are discouraged from using all of their... Read More >

Required Summer Reading for Recent (Unemployed) Graduates

by Derek Loosvelt  |  June 27, 2012

If you find yourself with a newly printed diploma, without a job, and with some extra time on your hands, here are five books (some nonfiction, some fiction) which will entertain, inform, and inspire: Youth: Scenes from Provincial Life II, by J. M. CoetzeeYou might be surprised to learn that the South African Nobel Prize-Winning author J. M. Coetzee was once an unemployed graduate living in London with few job prospects. Or that the young Coetzee's first proper job was as a programmer for... Read More >

Findings From Vault's 2012 Banking Survey

by Derek Loosvelt  |  June 20, 2012

An overwhelming percentage of investment bankers are extremely satisfied with their jobs. Company culture is deemed the most important factor by jobseekers when deciding upon which bank to join. Prestige is the second most important. A firm's commitment to social responsibility and diversity is the least. Three out of every four bankers are white males. One out of every 33 bankers is African-American. One out of every 50 is openly gay, lesbian, transgender, or bisexual. A large majority of... Read More >

19 Hardest Interview Questions On Wall Street

by Derek Loosvelt  |  June 13, 2012

During the past three months, we surveyed thousands of investment bankers and traders, asking them to tell us what it's like to work for their firms, as well as to rate their firms in various workplace categories, including compensation, hours, culture, work/life balance, and training. This year, a portion of our Banking Survey (which we use to compile our annual Vault Banking 50) was devoted to interviews-we asked bankers and traders to rate their firm's hiring process, as well as to... Read More >

Facebook and Google vs. The Squid and the Whale

by Derek Loosvelt  |  June 06, 2012

We've recently closed our annual Banking Survey and are currently compiling the results. This means that a new Vault Banking 50 is forthcoming soon. (Truth be told, it's coming the first week of September). In any case, the point is that the results of our survey are in and, although I can't divulge any specifics until the rankings release, I can say that there was more than a little movement near the top of the rankings this year, with some smaller investment banks gaining ground on the... Read More >

Yale Grad Who Fought Wall Street Dies at 22

by Derek Loosvelt  |  May 30, 2012

Today I was planning on blogging about an article that was published last week in The Wall Street Journal on the proliferation of liberal-arts colleges requiring students to take classes in entrepreneurship, business, and managing their (future) careers. But while doing further research for this blog I came across an article on the sudden death of 22-year-old Yale graduate Marina Keegan, whose many accomplishments in her short life, I soon learned, included writing a column for The New York... Read More >

Meet the New Squids on Wall Street

by Derek Loosvelt  |  May 23, 2012

Just when you thought it was safe to put your money back in the market (and, say, buy a share or two of a global bank or social network), the vampire squids of Wall Street strike again. And this time, it's not Lloyd Blankfein and gang doing the stinging, but Jamie Dimon and his London whale, as well as James Gorman's high tech underwriting team. It's enough to make even the thickest-skinned investor-and would-be banker-stay on the beach. Yes, it's been yet another horrific couple of weeks... Read More >

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