BlackRock – “Make sure there is a formal recruiting program for MBA's like you have one for PhD's and new Analysts.”

Pros

Enormous amount of information sharing.
Very relaxed culture in terms of attire, interaction.
People are very respectful in terms of not losing their temper or criticizing each other openly.

Cons

The firm doesn't market itself well to experienced, new hires - it is difficult to get a clear idea of what the job involves in some groups... especially on the fixed income side. There is also a tedious learning curve with respect to mastering database systems before you have an opportunity to actually do interesting work. Finally, there is a culture of 'pay-your-dues' which appears to stem from the fact that the firm was built organically i.e. many new hires from college are now senior management. This approach has its disincentives.

Advice to Senior Management

On the fixed income side, do not hire experienced MBA's unless you can give them roles which are aligned with their skill sets. It can be frustrating to do tasks that don't leverage your strengths.