Bloomberg L.P.

www.bloomberg.com
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3 people found this helpful  

Too many silos, too many MBAs.

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Former Employee - Director in New York, NY
Former Employee - Director in New York, NY

I worked at Bloomberg L.P. full-time (more than 10 years)

Pros

Resume fodder = strong. Talented co-workers = good. Many divisions to interact with = good.

Cons

Young MBAs pushing out all the "old" experienced vets = bad. "New" company execs manage up the ladder well, manage down the ladder very poorly. Company HR only cares about the company, NOT the employees. No lateral growth opportunities. Was a great company years ago, is a toxic company since Mike left.

Advice to ManagementAdvice

Stop listening to only the accountants and the consultants. Get out of the media business, you are no good at running it, except as Mike originally intended: as marketing support for terminal subscriptions.

Doesn't Recommend
Positive Outlook
Approves of CEO

1301 Other Employee Reviews for Bloomberg L.P. (View Most Recent)

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  1. 4 people found this helpful  

    Incredibly good place to work if you can find your spot

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Software Engineer in New York, NY
    Current Employee - Senior Software Engineer in New York, NY

    I have been working at Bloomberg L.P. full-time (more than 5 years)

    Pros

    Interesting work environment, good benefits, good pay, one of the bigger news and financial power houses in NY. If you need to build a resume, Bloomberg will do very good on your resume. If you have the right attitude and perseverance, you can move around and succeed at Bloomberg. However, mind the politics (see cons too)

    Also, for US standards, Bloomberg offers a generous vacation package (4 weeks), and they will be very loyal and generous to their employees (provided you don't f them over). If you have any personal issues or need time for personal reasons, they are very forthcoming and easy in making arrangements.

    Cons

    There are 2 potential downsides at Bloomberg that (if you are lucky and/or skilled enough) you should dearly avoid: inter company and interdepartmental politics and power-plays, and bureaucracy.

    There are a number of managers who earned and build their little power empires in the last 2 decades, and who are clinging on to both their power and their old ways. Avoid these trolls of the 90s at all costs! While Bloomberg is very loyal to its employees, the downside is that these 'bad' managers and their little power tribes are not removed as they should be. THEY ARE PARASITES. If you are skilled and smart, you will learn how to avoid the bad manager vortex.

    The 2nd down is the occasional suffocating bureaucracy. Annual planning and budgeting is not unlike a 3 month ongoing water-boarding experience that has killed many a great business idea. JUST SAY NO to any such bureaucracy! (trust me, you';ll be fine refusing to participate, secretly most management HATES the process, and they'll silently will approve your insubordination)

    Also, the snacks are really not that great. Yes, you get free sodas and coffee, but forget about the snacks, they are horrible....

    Advice to ManagementAdvice

    Keep an eye out for the great people you have. Reduce the red tape, senseless paper and ticketing and any and all other time consuming and outdated 'paper work' and non transparent and silly procedures. Make sure to focus on Fun and Efficiency. Also, fire the bad managers, you know who I am talking about!

    Recommends
    Neutral Outlook
    Approves of CEO
  2. 4 people found this helpful  

    Great Starting Place/Ending Place (for Finance candidates) - Sales and Analytics Targeted

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Sales and Analytics in New York, NY
    Current Employee - Financial Sales and Analytics in New York, NY

    I have been working at Bloomberg L.P. full-time (less than a year)

    Pros

    -Great people, all are friendly, young and enthusiastic
    -Great place to learn finance from scratch as training program is one of the best of anywhere
    -Snacks
    -Best work life balance
    -Good compensation if you "meet expectations"
    -Name brand recognition and very good experience with the software
    -Best benefits of anywhere
    -Can transition to ANY role within the firm
    -Great place to have a start to end career with good support behind you
    -Everyone listens to your ideas and encourages you to act on them

    Cons

    -Do not work a finance job; this is a technology company first
    -Compensation is not built of effort or experience but rather of how long you have been in the company
    -Very poor compensation advancement structure
    -Lack of career progression
    -Difficult to transition to a different job (in finance) due to lack of useful experience
    -Career/Experience is very heavily dictated by your manager
    -No freedom in time management; everything is dictated what you need to do by the minute
    -Potential to get stuck at your current role

    Advice to ManagementAdvice

    -Lead by example
    -Don't tell employees you are hiring less workers and compensating current workers the same (expecting the current workers to pick up the slack with extra compensation)

    Recommends
    Positive Outlook
    Approves of CEO
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