There are newer employer reviews for Bloomberg L.P.

Helpful (1)

Great work culture and space

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Current Employee - Senior Software Developer in London, England (UK)
Current Employee - Senior Software Developer in London, England (UK)

I have been working at Bloomberg L.P. full-time (more than 3 years)

Recommends
Positive Outlook
Approves of CEO
Recommends
Positive Outlook
Approves of CEO

Pros

The colleagues are great and the benefits are quite good. The possibility of path and career advancements, as well as international moves are good.

Cons

Coming as an outsider it takes a while to adjust to the very collegiate and child like company culture. They boast a flat structure, but in reality it's quite hierarchical as everywhere.

Advice to Management

What is the strategy once we have penetrated all the sell-side firms? How are we going to maintain leadership in a cost cutting world?

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  1. Helpful (2)

    Bad if you have ambition or experience. Good if you do not have experience or ambition.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Senior Sales - Core Product
    Former Employee - Senior Sales - Core Product

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

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Global reach.
    International workforce who frequently work together in global projects.
    Good reputation with clients.
    Comprehensive internal management and billing systems.
    Benefits.
    Lots of opportunities to learn everything you want about finance, business and investments.
    Private company not concerned with quarterly results.
    Financially stable and solid, with immediate access to a large pool of low-cost capital from its founder and controlling shareholder, Mr Bloomberg, who is very, very rich.

    Cons

    Zero career opportunities if you have experience.
    Employees are treated like disposable razor blades, which are easily replaced and widely available.
    Ambition, hard work and results not rewarded by either promotion or pay.
    Their over focus in finance does not mean you will get a job in the front-office of a bank.
    Pay not tied to transparent performance, but to obscure criteria.
    Company wide under staffing, over working, numbness and demotivation.
    Mindset, vision and management vastly dominated by white, male, Americans and British.
    Lack of career opportunities at more senior levels means you might do the same job for years, which is very negative for morale and negative for creating a portfolio of updated marketable skills.
    Dangerously overexposed to, and overdependent of, a single product that might become obsolete, the Bloomberg terminal, and to a single cyclical client type who has not grown since 2008, global financial market players.
    Difficult to create meaningful new revenue sources to complement the Bloomberg terminal.
    Company replaced the go-get-it culture its founder had by a back-to-the-wall micro-management bureaucracy from the senior managers Mike choose to run his company.
    Sales staff easily spends more time filling CRM, management, travel, billing systems and assorted reports than selling!

    Advice to Management

    Value and show respect for your employees.
    Create career opportunities for experienced staff.
    Reward the top performers who really sell your products.
    Be careful not to become a great typewriter factory to avoid eventually becoming obsolete!
    Do not manage the company like a bank with short term objectives that are constantly changing, Bloomberg is solid technology with fat long term contracts!
    Bring back entrepreneurial risk taking and accept its uncertain outcomes.
    Definitely adopt newer technologies.
    Modernize your business model, which is not delivering growth.
    Embrace new markets.
    Re-engineer your processes.
    Think globally and be open to new ideas. Regret to inform NY is not the only source of new ideas for revenue growth.
    Bring in new accountable professional managers to grow the firm again, not your over prudent personal friends.

  2. Helpful (2)

    Good place to work

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Sales and Analytics in London, England (UK)
    Current Employee - Financial Sales and Analytics in London, England (UK)

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

    Recommends
    Neutral Outlook
    Approves of CEO
    Recommends
    Neutral Outlook
    Approves of CEO

    Pros

    Great office culture (very friendly, transparent, open, young), great work life balance, nice extra activities and optionals, good atmosphere, not bossy atmosphere where ideas can be heard and people feel free to speak up, very sensitive to diversity (internationally, minorities etc...)

    Cons

    Not very stimulating career path for an ambitious graduate in finance world, work is not stimulating (basically a knowledged customer service)

    Advice to Management

    Try to find out ways of stimulating the career path of individuals, maybe trying to set up an alumni scheme or something to facilitate exit into banking if people want it for a more rewarding career at some point (which would also help sales) similar to management consulting could be helpful

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