Bloomberg L.P. Reviews in New York City, NY | Glassdoor

Bloomberg L.P. New York City Reviews

Updated August 18, 2017
124 reviews

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124 Employee Reviews

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Pros
Cons
  • Bloomberg's work-life balance isn't for all (in 83 reviews)

  • Long hours, poor work-life balance (in 142 reviews)

More Pros and Cons

  1. "It's over"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Manager in New York, NY
    Current Employee - Manager in New York, NY
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Bloomberg L.P. full-time (More than 10 years)

    Pros

    Fast paced, beautiful office spaces

    Cons

    Bloomberg has changed. The culture was a community, and now it's cut-throat. Longer termed employees are being marginalized and pushed out. Teenagers are being put in charge of experienced employees. Bloomberg is out of runway. It's a job, not a career. It's not the company it was.

    Advice to Management

    You should have sold 5+ years ago. Your failure to understand market timing, to figure out a way to continue to grow, has become your downfall. You have failed.


  2. Helpful (2)

    "Thinking about Analytics at Bloomberg LP? RUNNNN!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Help Desk in New York, NY
    Former Employee - Help Desk in New York, NY
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Bloomberg L.P. full-time (Less than a year)

    Pros

    Pantry
    Health Care
    Nice team mates
    Pays the bills while you're looking for a real career path

    Cons

    -Analytics is a misnomer: It's a call center position. The job does not set you up on a path for a "career" in analytics or anything else. It's a dead-end job.

    -No transferable skills or knowledge that can help you seek other opportunities in finance. This is not a finance company, but a FinTech company. It does not help you in Fintech either because you don't learn about business dev or technology.

    -No options for promotions or a path for advancement. Moving horizontally to a sales role is the only option to get away from the grind of help desk. Don't be fooled by the roles of specialist, advance specialist thinking these are career advancement. It's just made to keep the oiled machine running. And people get stuck there with no where to go. These roles have no careers horizon or transferable skills outside of Bloomberg.

    -When you leave, you have no marketable skills. You will have to start from the bottom in whichever industry you choose, including working as a financial analyst...

    The wise ones figure this sham out very quickly and either leave as soon as they can or take an MBA class or CFA certification course, so they can be more "marketable" and in the meantime have money to pay the bills. Those who take a little longer to figure this sham, end up going to grad school to start over from the bottom and pick a different career unrelated to finance. I figured out this sham about a month after I was done with the training and was working as a generalist. I left after 8 months and reading other reviews here that confirm my observations, I'm happy I did not waste my time there.

    Advice to Management

    Since no one in management cares to read this part, I'll take the opportunity to warn again anyone applying to analytic: RUNNNNNNNN! Don't be a willing slave to managers who were lucky to join when Bloomberg started or at the earlier stages. There are no longer any growth opportunities for anyone joining now.

  3. Helpful (9)

    "Software Engineer"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Software Engineer in New York, NY
    Former Employee - Software Engineer in New York, NY
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Bloomberg L.P. full-time (More than 3 years)

    Pros

    I know well with the engineering department; not too familiar with other departments.
    - One of the most prestigious names in the financial industry.
    - A rich number of opportunities to get experience in multiple areas in finance.
    - As in New York, Bloomberg pays well for entry/mid-level employees.
    - One of the best benefit plans in New York.
    - Offices are really nice (fish tanks, free food).
    - Great work/life balance in some teams.

    Cons

    Again, I can only judge it in an engineer's points of views:
    - Just so-so tech infrastructure among financial companies (not even counting some HFT firms). They use extremely out-of-date infrastructure that many had abandoned in early 2000. The key thing is: software engineering is NOT the money-maker; technical improvement is always secondary to "keep things working as they are because clients need foobar before next week". In fact, even among financial companies, Bloomberg's tech infrastructure is no more than the average. You would be crying once you get into this company and learn what they're still trying to get on-board is something that mainstream has been using since 10 years ago. Seriously, take a look at what’s popular 10 years ago and you’ll know how slow and frightening that Bloomberg moves ahead.
    - However, compared to regular tech companies (not even to mention the big names), Bloomberg's tech stack is something that engineers may feel shame to talk about at their class re-unions. In fact, this is the most critical thing for young engineers who'd like to keep sharp in tech. To put it in the simplest way: Bloomberg (at its best eng teams) offers great opportunities to make single-cylinder combustion engines. Other tech companies provide engineers with some engines (proprietary and/or open-source) and they end up making rockets and space shuttles. At its regular teams in financial divisions, the tech stack is just... It’s all about the business logic. NO TECH!
    - No respect to former employees. Bloomberg never hires back former employees as loyalty is a key. So if you left, HR is not likely to take you serious anymore because they know you’re not coming back. This happened to many of my colleagues who left the company. They got poor or even no support from the company for tax, health, immigration and legal needs. Some of them got into troubles because of that. Just sad.
    - Blame-based performance evaluation system (they'll tell you it's merit-based but nope). Not too many chances/incentives to outperform.
    - Work/life balance at some teams can be disastrous.
    - Any fault is recorded. Low tolerance to faults, especially in divisions that make money.
    - Pays much less than the top tech companies.

    Advice to Management

    No advice.


  4. Helpful (5)

    "Toxic culture of people who play favorites; anti-woman"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Editor in New York, NY
    Former Employee - Senior Editor in New York, NY
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Snacks, generous health benefits, 401k match is good

    Cons

    Bloomberg's best days as a high-growth tech firm are way behind it as clients continually look for ways to get rid of terminals; passive investing is getting more popular, eliminating the need for a high-priced terminal that often functions like a high-priced chat service; news department is beholden to big clients that quash stories; HR department is a joke -- constantly making mistakes; not friendly to women. Never worked with a pregnant woman, probably because family is forbidden.

    Advice to Management

    Keep doing what you're doing, regaling in the heady days of yesteryear with the old frat boy mindset and close-minded way of doing things. Really out of step with today's work force.


  5. Helpful (3)

    "Terrible work environment, pay increases are far less than the rest of the company"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Equity Research Analyst in New York, NY
    Current Employee - Equity Research Analyst in New York, NY
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

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

    Pros

    Good benefits such as health etc..

    Cons

    The moral and work environment in this department is at an all time low. For such a company that tries to promote transparency the whole time, this department does the complete opposite.

    Management does not look after existing employees and shows this every year with minimum pay increases, instead using the money to pay ludicrous wages for people they pull in from the street who end up writing garbage.

    Management has turned what could be a great research department into a hamster wheel. The same nonsense is regurgitated on a regular basis and takes away from what could be insightful ideas generated. More and more people continue to leave the department and are fed up with how it is being run into the ground.

    Advice to Management

    Listen to and reward current employees before everybody leaves. Stop letting senior analysts ruin the environment for everyone.


  6. Helpful (4)

    "Warning: This is not a research job, don’t be tempted to apply if you think it is!!!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Bloomberg Intelligence Equity Analyst in New York, NY
    Current Employee - Bloomberg Intelligence Equity Analyst in New York, NY
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

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

    Pros

    Hours are a lot less compared to if you were doing this elsewhere. Good benefits such as health etc..

    Cons

    Let me start by saying that if you think that this is a research department you will be horribly mistaken. This department reports into news and is nothing more than a glorified department of news. You will be lucky to find any form of analysis that you could use to form an investment decision and if you did use it as investment advice for your clients I would be very worried. This isn’t necessarily because of the analysts it’s more to do with the direction and strategy from management.

    There are some very bright, intelligent and talented analysts and associates here and there also some very overpayed, lazy and unqualified senior analysts that have more or less won the lotto by getting paid the sums they do for putting out what they call research. These senior analysts and management are one of the reasons for poor morale in the department and why most people are looking to get out. In the majority of cases this is where washed out and incompetent senior analysts come to retire and die.

    The only worrying thing is why does management continue to spend the sums they do to hire such incompetent analysts that they believe are well known in the market place and will bring a reputable franchise with them when it always continues to prove otherwise. The downside to this for the rest of the employees is that when it comes to the end of the year, associates and company analysts end up with a 0-3% pay increase because management has wasted so much money elsewhere or only look after the select clique.

    The management structure also means that the people rating you and the people that you report to at the end of the year don’t actually work with you and have no way of properly understanding the work you have done or carried out during the year. This usually results in a farce of an end of year review, as its based purely on hearsay. In fact one of the senior analysts (one of the better senior analysts) recently left because he had no control over some of the other analysts who were below him in the same industry and left due to the poor quality of research.

    There are three way you will join this department:
    Senior Analyst: This is where you are expected to have 15+ years of experience covering your specific industry and are expected to be a well know figure in that space. In reality these are people with a very unknown or poor track record and in some cases haven’t even covered that industry before. On the plus side if you can secure a senior analyst role it’s like winning the lottery in terms of the amount of compensation that management will throw your way.

    Company Analyst: This is where you will have had a couple of years on the street covering your industry and you come in as an experienced hire. In most cases this is where the smart employees are, but unfortunately are constantly shot down by the senior analysts and management.

    Associate: This is where you will come in as a junior. DO NOT DO THIS!!! It will be damaging to your career. You will know nothing about financial modeling, you will probably work for a senior who has no idea what they are doing and you will never get a job on Wall Street with the Bloomberg Intelligence name on your CV. This will pigeon hole you for life.

    This could be a great department but given the Senior Analyst clique and managements strategy it just isn’t. It is a giant blackhole on Bloomberg’s finances with no ROI. If management scrutinized what was going on a bit more, there is a good chance the department would be shut down. Senior people in Bloomberg Intelligence are regularly lying and misleading the senior management in the company.

    Advice to Management

    Listen to your employees more. Senior management outside the department needs to take a closer look at what is going on.


  7. Helpful (3)

    "It's a Job not a carrer"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Global Data Analyst in Skillman, NJ
    Former Employee - Global Data Analyst in Skillman, NJ
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Bloomberg L.P. full-time (More than 3 years)

    Pros

    Free Food. Breakfast, Lunch, and Dinner is covered.
    Good Benefits.

    Cons

    Work is repetitive. Data entry all day.
    No transferable skills.
    Flat Structure.
    No Room for growth. There are people there that have been in the same position for 20 years. Add that along with the sheer Nepotism that goes on in this place. it's a old boys club in the Skillman office. The dusty old men there will literately stop you in the hallway/bathroom/cafeteria just to make you suck up to them. It's worst than high school if you are not down with the clique. If you have any drive or self worth this not the place for you. The petty politics and repression will crush you if you allow it. You will be exploited until you get fed up and just quit. I honestly believe that is embedded into the culture in the Skillman office and Management wants it that way.

    Advice to Management

    None. Just because you have been there since the building open doesn't mean you're better that anyone else. Get over yourself and realize that there is entire world outside of Business Park. Maybe you should treat people with a little bit of dignity then maybe you'll get little more out of them.

  8. "Electronic Trading"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Electronic Trading in New York, NY
    Former Employee - Electronic Trading in New York, NY
    Negative Outlook
    Disapproves of CEO

    I worked at Bloomberg L.P. full-time (More than 3 years)

    Pros

    Free food

    If you're reading this you probably have potential job interview or got a job offer. My personal advice to you: RUN!

    Since I quit Bloomberg I've been the happiest in my entire life!

    Cons

    Management sucks
    If you misspell words on your ticket you get shunned
    The global management team really has no clue about anything that goes on in the department
    Both ETI and ETS managers are lazy and sit on their *bleeps* all day doing nothing but talking on the phone and texting
    The people who actually do work get no credit for it

    Advice to Management

    You need to figure your HR dept out Bloomberg the whole place it turning to crap.


  9. Helpful (5)

    "looks good from far, far from good."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Dayton, NJ
    Former Employee - Anonymous Employee in Dayton, NJ
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Good benefits, free food, that's about it.

    Cons

    lying, embedded, idiot know nothing management, and HR treating employees like children. Assigning projects that took away from the actual work that needed to be done, then criticizing productivity.

    Advice to Management

    Quit


  10. Helpful (3)

    "Not the best place"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Analytics Representative in New York, NY
    Current Employee - Analytics Representative in New York, NY
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

    I have been working at Bloomberg L.P. (Less than a year)

    Pros

    the snacks, the people, and the building

    Cons

    The analytics department is probably the worst department to work for at Bloomberg. Too much politics, no room for advancement, management only caters to their favorite people and make sure those people the opportunities, nothing is transparent, too metric driven they don't care about you as an individual , the role is mentally draining, (not worth it for the salary)

    Advice to Management

    be better at your jobs


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