BlackRock Reviews in Philadelphia, PA Area

Pros

Decent work life balance
Decent comp/benefits

Cons

Be prepared to give your life blood to Larry. Please genuflect upon entry
Middle management is forever swinging back and forth running to and fro trying to anticipate what the founder fathers want.
Power and decision making is too centralized
Infrastructure is barely hanging on..trying to support the various lines of the business (I.e Aladdin, Asset Management, Accounting clients, BRS clients)
Never open to outside ideas (esp. those hired from outside the firm). Our way rules
Very very political. Suck up or skate out

Advice to Senior Management

Open up the think tank and the different ways things can be done. It's not the small BlackRock anymore with 30 employees.

Pros

- Highly respected firm
- Experience will look good on resume
- Flat organizational structure
- Senior managers are approachable
- Good facilities in Wilmington - cafeteria, covered parking lot and gym
- Good benefits

Cons

- Limited career advancement opportunity, especially after the merger of Merrill Lynch Asset Management.
- Limited internal mobility
- Office politics
- Employee contribution is not recognized or rewarded, some groups are better than the others
- Long hours, no work/life balance

Advice to Senior Management

Senior management should pay more attention to employee career development and promote internal transfers. Reward should be based on individual performance not job titles.

Pros

BlackRock provides great pay and benefits to entry level workers. Also, provides the opportunity to take on as much work as you desire.

Cons

Little respect among coworkers, however, at the same time it feels as if it is just one big boy's club.

Advice to Senior Management

Management should be atleast somewhat aware of what is going on at all levels of the spectrum. Too often, they seem disengaged from the rest of the company.

Pros

good for resume
pays for cfa
some people are fun
pay is good for claymont
alot of room for personal growth

Cons

pay is not good for philadelphia area
same thing over and over again
copy and paste professional
VERY long hours - a 8-8 is normal/minimum - if you work less you are looked down upon
heaven forbid you have something to do on a friday night at 9 pm.
BRS is very operationally demanding

Advice to Senior Management

focus more on the welfare of the employees. you could say who cares but then you are left with an employee who questions himself and then says who cares. That will lead to disgruntled employees and people wasting BLK time to post warnings to others on this website. BUT larry- your my boy. smart man ha

Pros

BlackRock is the go to firm for investment management and risk analytics. It is a great name to have on one's resume. Beyond that, BlackRock is a great learning experience. Employees are sharp and willing to share knowledge. The firm is supportive of ethical behaviors and is increasingly encouraging non-profit involvement. The BGI transaction is opening doors to even more opportunities.

Cons

The hours are long. The perks are decreasing. The pay is ok. This is not only relative to BlackRock but rather to the industry as a whole in recession times.

Advice to Senior Management

Career development efforts need to be given more consideration by upper management. In addition, there is an urgent need for more life in BlackRock's view of "work-life" balance.

Pros

I get to work with some of the most knowledgeable and hard working individuals in the industry. Working for an industry leader.

Cons

Individuals are not always promoted based on performance. Management often plays â??favoritesâ?� which leads to deserving individuals missing out on career advancing opportunities.

Advice to Senior Management

Reward individuals based on their performance and ability, do not play favorites and give employees honest feedback and advice to advance in their careers.

Pros

Where else can someone earn $65K+ working a help desk? Company is located in an aesthetically appealing Class A office park in suburban north Wilmington with amenities such as covered parking, onsite exercise facility and cafeteria. Many employees rant about their compensation and "greuling" overload of work, but in reality BlackRock pays well above market rate for many positions and employees find time for leisurely pursuits regardless. With TARP proceeds, the company should not have a problem paying interns $1200 per week! Upper management staffers mostly find themselves on easy street as working for BlackRock is like working on Wall Street!

Cons

Not being "in" with the right people at BlackRock could amount to stressful working conditions or the premature end of your career. The company has experienced a wave of layoffs and reportedly another wave of headcount reductions is planned between June and August, 2009. During your tenure at BlackRock you will observe many fine articulate people working hard and others doing not much other than shooting rubber bands! Gossip central is alive and well at BlackRock and it's not uncommon for many peers to know your many personal details. Heads-up: Be aware that while the building facility is comfortable and secure, you probably will at some point come to discover your privacy invaded as many IT people have unfettered access to your computer and server files in addition to all conversations on your company-issued BlackBerry, and all without your prior knowledge or consent! While all companies have IT compliance and acceptable-use policies and procedures in place governing such, sometimes one has to wonder if NY management is asleep at the switch! Some leaders at BlackRock have awoken to the reality that it may be some time before the economy returns to an upswing and when it eventually does, competitors may be in a much stronger position due to the fact they've cut costs by managing more aggressively, right-sizing and by outsourcing some components. Bottom line: If you end up employed by this company, don't spend the money you haven't yet earned and be sure to keep your resume current and on-tap! Future bonus payouts may not be as lucrative as they once were and many staffers are wondering if they will continue to be able to afford the many luxuries they have become accustomed to working at BlackRock. Also, due to supply cutbacks, you will need to blow your nose on your own tissues!

Advice to Senior Management

Take the opportunity to get to know your employees, contractors and contingent workers! Expect greater accountability from your workforce and understand that failure to properly safeguard your IT infrastructure and manage your human assets will ultimately enhance the positon of competitors. As leaders you should obey employment law particularly governing fair hiring, termination and severance practices else you put yourself, your company, its employees and investors at greater risk of litigation.

Pros

Salary was comensurate with experience.

Cons

Political enviornment, everyone seemed to be only interested in preserving their own career.

Advice to Senior Management

Employee development is key even if those people are not seeking a CFA.

Pros

Very competitive pay versus other companies in DE. Surrounded by very knowledgable colleagues. But many are two faced. Most people act like your friends but everyone is out to step all over you in order to get ahead.

Cons

YOu will have to say goodbye to your family. Once you join blackrock you will have absolutely NO work/life balance. Just get ready to sacrifice the next 5 - 10 years of your life and work 12 hour days. During interview they will avoid this question about "how many hours/day will you work?" Once you come on board its leave at 8pm and come in 8am or else. Stay away from Holiday.

Advice to Senior Management

Realize that the people working underneath you have families and a life outside your little cubicles. Stop treating your employees like you OWN them once you join BlackRock.

Pros

prestige of the company, general strategic development and position on the street

Cons

limited advancement opportunities, incompetent middle management, long hours

Advice to Senior Management

Stop being so biased, learn how to handle complicated issues, be more open-minded