Bloomberg L.P.
3.2 of 5 1,025 reviews
www.bloomberg.com New York, NY 5000+ Employees

Bloomberg L.P. Reviews

Updated Mar 31, 2014
All Employees Current Employees Only

3.2 1,025 reviews

                             

75% Approve of the CEO

Bloomberg L.P. President and CEO Dan Doctoroff

Dan Doctoroff

(579 ratings)

63% of employees recommend this company to a friend
112 Employee Reviews Back to all reviews
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12 people found this helpful  

I am trying very hard to forget the years I worked at Bloomberg

R&D Programmer (Former Employee)
New York, NY

I worked at Bloomberg L.P.

Pros- Comprehensive training on the finance world and how money works
- Comprehensive R&D training for new programmers to help them get acclimated to their jobs
- Most teams are filled with programmers constantly striving to improve the products and the large code base they are working with (or in some cases, are stuck with).
- Management encourages teams to stick to 9-5 mentality except during the worst crunch periods, which are scarce.
- If you are ever forced to work late, there's free "night-time" company shuttles to get you quickly home & to your bed, no matter how far away you live.
- Good sexual and personal harassment training. Makes clear what peoples' boundaries are and where the law & the company stands on it.
- Good perks: Health & disability benefits, Gym Membership, Free Snacks to chomp on while you write code, most of them healthy.
- Decent company match in their 401k program.
- Occasional speaker seminars from big names in the finances and programming industry.

Cons- Management favors certain subordinates over others due to personality traits, not ability to perform the job.
- Management focuses too much on time estimates & performance metric measurements, and too little focus on providing proper guidance to subordinates. Subordinates are often left in the dark on how to approach tasks correctly.
- Management often ignores subordinate accomplishments, and instead focuses on their mistakes, using them as a verbal & written weapon in yearly reviews, resulting in managers looking good to their managers, while the subordinate is demoralized. Management is also poor on properly suggesting how to help a subordinate fix or resolve mistakes.
- Too much focus on code "appearance" policies, and not enough focus on testing the code people write. It is almost as if management wants programmers to release mistakes to customers so they can blame the programmer when something goes wrong.
- R&D Training at the time I was an employee was almost 3 months long, with much of the material not even relevant to the job itself you get once you're done with training. There is clearly some miscommunication between the Training Instructors and the Programmers.
- Skilled programmers are often "promoted away" from programming into management, even if they are not good at managing people.
- Business is too focused on short-term quarterly earnings and refuse to let programming teams invest time on projects that could improve the company over the long term.
- Programming teams within company are too isolated from each other with almost no inter-team communication and very little lateral movement between teams. Every team appears to be "trying to do everything themselves".
- Depending on which group you're in, you could be stuck with "mundane code maintenance" instead of the more interesting job of coding new or enhanced features in the company products.
- Too many proprietory technologies. If you work here for too long, then leave to work elsewhere, you often end up "relearning" equivalent technologies.
- Even if you get a good yearly review, your raise is typically lower than the increase in overall cost of living in the New York City area.
- One nice manager I had was "banned from the floor" of a different programming group for catching bugs in their product & bringing it to their attention. People shouldn't be punished for doing the right thing.
- Typical workspace environment is full of hundreds of people (with no walls or cubicles) and can get very noisy. 10 people chatting is no big deal, but 100 people chatting is distracting when you're trying to code & rushing to make a deadline. Be prepared to be most productive in the late hours, after most people gone home, or at the very least wear some headphones with music playing to tune them out.
- Managers and business groups peer-pressure employees during company parties to "get in" on their mentality and whatever activity they're up to. If you disagree with what they're doing due to ethical or religious reasons, or you "don't get" what they're up to, you are immediately made fun of and ostracized.

Advice to Senior ManagementManagement needs to properly motivate subordinates and help them improve, and focus less on emphasizing their mistakes and demoralizing them. Through habitual destructive criticisms, management successfully made me believe I was a bad programmer and a bad person. I was later surprised at the next company I worked in to learn that none of this is true. It took a lot of therapy to remove Bloomberg management's effect on me. Also, the programming teams should cooperate a little more with each other, and this can reduce some of the inefficient redundancies. I can go on & on all day with more advice to management, but most of it is properly summarized in the con section.

No, I would not recommend this company to a friend

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4 people found this helpful  

Backwards technology, unambitious employees

Software Engineer (Former Employee)
New York, NY

I worked at Bloomberg L.P.

Prosthe pay and the name.

Consvery mediocre employees, no guts. This isn't sell side, this isn't buy side. It's just back-office. A lot of churn for new employees in the company, the lifers there obviously are just clocking the hours. Also I might add way too many indians and asians in the technology area. Hard to get communicate through their thick accent sometimes.

Advice to Senior ManagementStop treating it like a 9-5 job and then panicking when its crunch time.

No, I would not recommend this company to a friend

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12 people found this helpful  

Get things done

Senior Software Developer (Current Employee)
New York, NY

I have been working at Bloomberg L.P.

ProsGood salary
Good benefits
beautiful office in the center of NYC
very good summer corporate party

ConsBloomberg's motto is: Get Things Done.
You should develop your application as fast as possible. Nobody asks you about design. Nobody asks you to write any documentation.
Just get things done.
As the result Bloomberg has tones of spontaneously designed and not documented code.
Most likely you will be hired to support this code.
You will have to fix bugs and improve code which should be redesigned 10 years ago. But nobody will let you redesign it. Just get things done and fix the bug as fast as possible.

Every day you will get new tickets to fix. This is the way how you will learn your project. The only way you could understand what to do is to ask your mentor.
You will be very lucky if your mentor be able to explain you what you should do. He just has no time because he has a lot of tickets too.

Bloomberg is chaos. If you like chaos this place is just for you.
BTW please ready book "Bloomberg by Bloomberg"

Advice to Senior Managementwho I'm to give advises to the management. They have very big and very profitable business. It works for them. The question is: will it work for you?

No, I would not recommend this company to a friend

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9 people found this helpful  

Run - As far as and as soon as you can

Anonymous Employee (Former Employee)
New York, NY

I worked at Bloomberg L.P.

ProsNice building
New york location
Good food
Financial information access
Good trainings but mostly wasteful because of poor management in real teams

ConsYear 1- You will learn quite a lot new stuff(on your own), work on all challenging fast paced stuff .You might still end up working under managers who have less educational background, skills and outside bloomberg experience who will actually be insecure of you and will try to make your eval bad for that. Believe me, they don't care at all about product in all this. I also think this is the case mostly because these tls are pretty aimless themselves in their goals. They do bachelors in some totally different field, join financial firm with software development for money. Looks like they are not at all clear about their aim in all this and not true to their profession.
Year 2- Its still ok. you will still get to learn something.
Year 3- Lot of repetitive, mechanical work
Year 4 and onwards - If you still stay here, you will become completely useless for software development in outside world.

Advice to Senior ManagementIs it worth to advice management to do something about management itself? The points mentioned above in first year are very important. They make the impression of company on new candidate. Look for managers/tls who are early and prematurely promoted to their positions. They are mostly the ones who employ these wicked strategies.

No, I would not recommend this company to a friend

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8 people found this helpful  

In the beginning (10+ yes) they treated you like you mattered but things sure have changed, now you are just a number.

Data Analyst (Current Employee)
Skillman, NJ

I have been working at Bloomberg L.P.

ProsPaid health insurance
Free food and snack
Cds

ConsInept group leaders think they are glorified managers but really have no experience managing people.
No praise for a job well done or all the extra hours put in, instead pointing out all your weak areas with no help to improve.
Giving out awful performance reviews just setting you up to fail and pushing you toward their chopping block.
Awful human resource management - the are not there to help you but instead to back up the team leaders.

Advice to Senior ManagementHire people to manage that actually have some experience in management. Take care of your employees and you'll see people that are happy to come to work and give 110% of themselves. Stop treating people like they are part of an assembly line. Go back to the way Bloombeeg intended to have his company run. You are losing good people over insignificant amounts of money and compromising people's health in the process!

No, I would not recommend this company to a friend

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8 people found this helpful  

Difficult experience *do not wish this for anyone*

Anonymous Employee (Current Employee)
Skillman, NJ

I have been working at Bloomberg L.P.

ProsThe benefits are the only thing that stands out at Bloomberg.

ConsNo life. Just work long hours.

Advice to Senior ManagementManagement are difficult to deal with.

No, I would not recommend this company to a friend

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7 people found this helpful  

Bad

Financial Software Developer (Current Employee)
New York, NY

I have been working at Bloomberg L.P.

ProsFree Food, Flexible work hours(if you do not work in trading systems),Corporate Perks, Health Benefits package

ConsBackstabbing, Managers behave like dictators with no accountability throughout the chain of command, outright lies on performance reviews,performance is proportional to psychophancy, culture of meritocracy and fairness being systematically dismantled, basically a H-1B sweatshop, blame the person you don't like instead of the real culprit and get him/her fired.

Advice to Senior ManagementPlease leave the firm now..

No, I would not recommend this company to a friend

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6 people found this helpful  

Stifling H1-B sweatshop

Quantitative Developer (Current Employee)
New York, NY

I have been working at Bloomberg L.P.

ProsIf you need to break into new areas, there may be opportunities here, if you can find management sponsorship, but that will be challenging.

ConsRules will prevent you from accomplishing much of anything. There will be constant interruptions, profound political resistance to any substantive innovation, 100 hour work weeks, and no flexibility.

Advice to Senior ManagementThere are some amazing human resources in your organization, but they lack the authority and opportunity to add value. Get people to do what they do best naturally, rather than forcing them to act as machines.

No, I would not recommend this company to a friend

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14 people found this helpful  

Very incompetent middle management

Software Engineer (Current Employee)
New York, NY

I have been working at Bloomberg L.P.

ProsFood is great ,
location and building is very good
pay is ok
there are some real bright people at developer levels

ConsThis company, though mainly based on the the main terminal software, can never become a true software development company. And the worst part is management don't have the vision to see this happening. This is mainly because most of the middle management (team leads) is filled with people having no development experience apart from bloomberg itself and that too a lot of non-computer science people. What senior management should understand is that there is a subtle difference between just programming and actual software development. Anyone from any background can learn programming or a language/scripting within a short frame. However that does not necessarily indicate that they can develop a good software. Unfortunately people here don't understand this. And since the leadership at technical level has these major lacks, the company is loosing key talents at the developer level who are never allowed/given chance for good development techniques due to middle layer (Mainly because leads have never done that and they just want their juniors to follow what they say). Eventually good developers will leave the company and go to a better place. No compensation/other benefits can stop this happening, but just the cleanup of the middle layer. That's precisely the reason the software isn't that great enough, just that its still in market because it does not have real software company as a competitor in Financial Markets. The day isn't far when companies like google, ms seize this opportunity and bring better financial software to market, which will definitely put company in a lot of trouble

Advice to Senior ManagementIn software field one has to continuously improve to keep ourselves live in market and can not just have predefined/traditional methods/technologies. Also please do some real thinking about review process and reviews done and middle management selection. These are mostly done on the basis of favoritism and who shows off more work than actual work.

No, I would not recommend this company to a friend

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7 people found this helpful  

Looks great from the outside looking in....

Anonymous Employee (Current Employee)
New York, NY

I have been working at Bloomberg L.P.

ProsFree food, company pays for good benefits, exposure to some very smart employees

ConsManagement is horrible - my manager couldn't spell properly and I had to continually check and re-write his/her e-mails before they went out to others. I was even asked by other departments to not let him/her near them because he/she didn't know what they were talking about and made everything worse. Operating system was extremely archaic and instead of using technology that was already out there the company instead spent millions of dollars trying to make their own mediocre devices. Many "star" employees were hired because they were FOM - Friends of Mike - and were paid exorbitant salaries while dragging down the entire business. They would let go and outsource entire departments without any warning at all. Due to the use of only their operating system and their devices if you stay at the company for more than 2 years you are deemed unhireable by other companies because you have been "bloombergized"- you pretty much lose your entire skill set unless you go home after work and study...which is what I had to do before I left.

Advice to Senior ManagementDon't promote people to managers just because they have been there for a while. If someones entire department quits in under a year you should take a good look at why they left and try to make some changes or else you will always have the high turn that you do. Give people a chance to move up and pay your people properly and maybe they wouldn't leave in droves.

No, I would not recommend this company to a friend

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