Bloomberg L.P.

  www.bloomberg.com
  www.bloomberg.com
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6 people found this helpful  

Good place to start, BAD place to stay

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

I worked at Bloomberg L.P. full-time (more than 5 years)

Pros

Impressive office, exposure to high level financial professionals, well respected and recognized company name, good to have on resume

Cons

Toxic work environment with low morale. The company places absolutely no trust in their employees and as a result you feel like you are in kindergarten/constantly looking over your shoulder. Environment turns even the most motivated and intelligent people bitter. Mediocracy is rewarded - top performers are not compensated accordingly, rather they are overloaded with tasks beyond their job descriptions. After a few "review periods" of this, the top performers decide to do less and fly under the radar, or they simply quit. There truly is NO motivation to outperform. One of the company values is "transparency", yet its the exact opposite. Secret meetings and whispering by managers is commonly seen. You are not treated like an adult nor are you trusted, so employees do not feel valuable. Feeling valuable is a key component of employee satisfaction and success. Many of the managers are absolutely clueless and lack basic business and interpersonal skills, and you are constantly asked to bring them along to your client meetings. After a while you realize the cool office and free snacks are there strategically to distract employees from the truly unpleasant environment.

Advice to ManagementAdvice

Compensation should be completely redesigned so there is actual motivation to work hard and outperform. I had some really great years and "ok" years and saw no difference in how I was paid or the opportunities I was given. Put more trust in your employees and let them know they are valuable assets to the organization. A "do the right thing" corporate culture will take you farther than a culture of fear and resentment. Identify weak managers and remove them from their management positions! (Not just team leaders, but regional managers as well). Recognize the low morale and make some much-needed cultural changes.

Doesn't Recommend
Negative Outlook
Approves of CEO

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