Bloomberg L.P.

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1 person found this helpful  

AS long as you fit within the system

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

I worked at Bloomberg L.P.

Pros

Variety of positions, though mobility seems to be limited. Free food and snacks and well kept office environment. Decent pay.

Cons

Very big brother like. All systems are centralized so management knows when you walked in and left and when you log on and if you are active. Once you are in a position you are at management's mercy. If you resign there is no returning regardless of the circumstances.

Advice to ManagementAdvice

None. If things work for the company, no need to change. Perhaps more job mobility. As long as employess know what they are signing up for, it works.

Recommends
Neutral Outlook
Disapproves of CEO

1339 Other Employee Reviews for Bloomberg L.P. (View Most Recent)

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  1. 24 people found this helpful  

    Amazing money minting machine is not actually a meritocracy

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

    I have been working at Bloomberg L.P. full-time (more than 8 years)

    Pros

    - Insanely profitable business is one of the most eye-popping money making machines you will ever witness, and those riches can be yours, if they like you enough
    - Willingness to take chances on you, if you succeed, regardless of how young/inexperienced/unqualified you may be on paper; this is great, when you are young and inexperienced, or just lack proper qualifications (no prior sales experience? YOU get to run sales! no business degrees? YOU get to be a COO!)
    - One of the rare companies where R&D is truly viewed as a profit center, which means your expensive projects with grand scope will usually get approved, even when they shouldn't
    - The perks are really great, the insurance and benefits are absolute Cadillac grade - you will only find better at a startup with INTERNET money
    - A lot of the people in the middle and lower ranks of management are actually really good at what they do, work really hard, and can make working there enjoyable

    Cons

    - Management culture is cult-like, holding loyalty, blood and sweat over real talent and wisdom
    - Power struggles at the highest levels of the company (most importantly between the CEO and the head of product) tend to have a bigger role in business decisions than actual business
    - At least a dozen "lifers", who would be utterly unemployable anywhere else, but are worshiped for blood spilled over projects past, hang around in cushy on-the-job retirement positions, billing the company anywhere from $400K-$1.2M annually for jobs that are generally manufactured and pointless ("head of regional businesses", "chief PVF officer")
    - Core technology stack is so massive and yet painfully old that attempting to modernize it is an asymptotic goal. The great technical genius behind Bloomberg 2, what was supposed to be the future of the company (but will never actually ship), was a plan to move to the latest generation of Windows foundation libraries. Windows in 2012! Recruiting and PR will tell you that Bloomberg is using anything that sounds new and cool and all up in that web stuff. Somewhere, someone is doing that, yes. You won't. If you work in R&D, and if you want to succeed and earn the trust and respect of your peers, you will work on C, maybe some C++, and you will at least see Fortran if not change it. And it won't be good C code. It will be the kind of C code that reads "int one = 2;", written by unskilled recent college graduates that were mentored by managers with history majors.
    - Uncle Mike's money spigot runs so fast and hard that managers on the product side are rarely held accountable for failures. With 85% of your revenue coming from a single, huge product sold on a flat price model, how do you measure success? The answer always ends up being some bogus metrics, which the good managers will figure out how to juke and/or just magically explain away while proposing next year's bigger, even more expensive plan, that will not only correct the mistakes of last year's plan but also introduce MORE, GLORIOUS MISTAKES.
    - Severe violation of personal space, this culture has decided that your acceptance is conditional upon their complete and total ownership of your being. Even the most minute discrepancies in your schedule must be reported (publicly) and explained away; all work is logged and diced into spreadsheets put under constant scrutiny; all tickets (and there are zillions of them) go through piles and piles of approvals and re-routing; transparency is taken to an extreme that is disrespectful and psychologically abusive at times.

    Advice to ManagementAdvice

    - Stop sinking zillions of dollars into non-terminal products nobody wants you to make. It doesn't matter how amazing you think the opportunity is, you are not Elon Musk. Thus far every single business you've tried to build outside of the terminal has failed, sometimes gloriously. Just stop. The terminal is what you're good at, and that is nothing to be ashamed of.
    - You are not going to make money in multimedia, but you should keep doing it because multimedia is really part of news, and you need to keep doing news. But stop expecting profit.
    - Stop promoting cronies and loyalists that didn't earn the position on merit. Not all lifers are bad, and there are definitely some impressive people that have settled into senior positions. But the reason you have to keep shuffling around all these upper managers across product/data/R&D is because these people were promoted for the wrong reasons. Get them out of the chain of command and promote the people that are doing the actual work.
    - Stop being so arbitrarily cheap. You see some greedy village idiot from R&D shoving dozens of cans of tuna into his gym bag and it boils your blood. Fine, but lecturing the entire population on moderation and respect just takes the glow off the gesture of free food in the first place, without saving you a significant dime. Give the animals what they want, let the free food spigot flow and party like you're Google in 2014. God knows you could afford it if you just fired one useless crony. It shouldn't be too hard. Put them on a performance plan, set goals for anything that is of material value to you, and then document when they fail to achieve those goals. If a 22-year old Team Lead from R&D can do it, so can you.

    Recommends
    Neutral Outlook
    Disapproves of CEO
  2. 3 people found this helpful  

    Bloomberg R & D

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

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

    Pros

    Nice office. smart people. free food

    Cons

    Long hours. open desks. Lack privacy. No gym

    Advice to ManagementAdvice

    Trust your employees judgement more.

    Recommends
    Positive Outlook
    Approves of CEO
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