Bloomberg L.P. Reviews | Glassdoor

Bloomberg L.P. Reviews

Updated October 16, 2017
256 reviews

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Pros
  • Got in as a data analyst straight out of college; lots of peers with the same experiences, good work-life balance (in 178 reviews)

  • Open work environment, free food, nice colleagues (in 314 reviews)

Cons
More Pros and Cons

  1. Helpful (6)

    "Your job marketability will sink"

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

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

    Pros

    Other than compensation and benefits, there are none.

    Cons

    Working with antiquated technology all the while being micro-managed. You will have very little freedom to make improvements

    Advice to Management

    Overhaul yourselves.


  2. "sales manager"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook

    I worked at Bloomberg L.P. full-time

    Pros

    good company at terminal level

    Cons

    terrible media company. worst management ever

    Advice to Management

    GFY

  3. Helpful (2)

    "Great place to be if...te gusta mucho trabajo!!"

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

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

    Pros

    Somewhere to work as a backup plan between jobs.
    Free toilet paper.
    Free snacks.
    Free training how to be a better Bloomberg employee.

    Cons

    Stacked ranking
    Stacked ranking destroys a culture. Period. Speaking teamwork is lipservic, but really there are no teams or in other words you are a team of one since stacked ranking. Best to the hard-working employees trapped there with no place else to go.
    B and C bosses, which means if you are an A player you will not be promoted as that would upend the B and C bosses. True or I couldn't say it.

    Advice to Management

    No advice to management or else I'd have to bill you for it.
    Actually you are your own just rewards, since your company is in big trouble, the industry is evolving and terminals have stopped growing you will have to deal with an irate mayor B who will demand more busy work.


  4. Helpful (15)

    "Global Data Analyst"

    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
    Approves of CEO

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

    Pros

    The office is sleek and modern. Fish tanks line the walls and the glass door conference rooms create an open atmosphere. The kitchen has a lot of healthy snacks and 3 free meals a day is a luxury most other offices don't have.
    The people for the most part are all really nice and there is a good feeling of camaraderie amongst a lot of the younger analysts.
    The salary and the benefits are second to none and the global company events like the New York summer picnic as well as philanthropy are amazing.

    Cons

    Ok, here it goes. This office is a sinking ship. The entire department is an outdated mix of 20+ year analysts who are so complacent in their current roles that the first whisper of automation makes them cringe with the thought of losing their jobs. The attrition rate among younger employees is astronomical as they realize within 6 months of being there that this is the biggest waste of time and effort since their freshmen year art elective.
    If you enjoy working with data, and by that I mean entering digit after digit without giving any thought whatsoever to what it means, and who uses it, then send in your resume their looking for people like you.
    There is no room for growth, although they will tell you differently through all the different seminars and information sessions. You start in data, you will end in data, unless you actively look for something better outside the company. And the reason for that brings me to my final point...
    The upper management of Global Data in Princeton, NJ is the most inept, unintelligent, smug, condescending, bureaucratic, and just downright incompetent bunch of individuals to run a department. Most of them have been there since the building was opened, which somehow legitimizes there sense of entitlement. They preach transparency and collaboration yet they offer no insight and no growth opportunities, unless that means making their jobs easier so they have more time to talk about little league in the kitchen. They pick favorites with a nice smile and they let the rest fend for themselves. If you have any sense of self-worth, keep searching Glassdoor for jobs.

    Advice to Management

    Engage the skilled employees or watch them leave.


  5. Helpful (12)

    "Epitome of Mediocrity with Wannabe Wall Street Culture"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Data Analyst in Skillman, NJ
    Former Employee - Data Analyst in Skillman, NJ
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

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

    Pros

    I worked as a Data Analyst within the Global Data department for several years. Overall I'd say this is a great place to work for those who want to simply collect their paychecks (pretty decent amount too) without all the stress often associated with similar salary range in any other firms. Keep calm and tag data, then you shall be rewarded with a peaceful and decent life. I have no idea how anyone can leave a 4- or 5-star review of this place, but I am very happy for them that their experience working at Bloomberg was significantly better than mine. Here are some things I liked about working there:
    - Free breakfast, lunch, and snack at the cafeteria - obligatory mentioning of the free food for the employees. I know it's cliche, and almost all past reviewers mentioned it, but it does save a lot of money for food. Don't expect anything too fancy, but hey, it's free. With that said, I should also mention that it's pretty sad for a workplace when almost everyone lists free food as their favorite part of their job.
    - Very flexible hours and incredibly easy job – during my time at the firm, I never had to work late or come in during weekends/holidays. Most people come in after 8am and the office is deserted by 5pm. You only spend 2-3 hours each day actually doing your job (I agree with the person who called it “dystopia” – if you have to spend more than that, you should seriously reconsider your life), and are free to do anything you want (read the news, pretending to do work, etc) for the rest of the day. The job itself is incredibly easy, and I seriously doubt that you need a college degree to do any of our daily tasks.
    - Great benefits and decent salary – Bloomberg employees get some of the best benefits out there (health, dental, vision). You also get unlimited sick days on top of your 4 week paid vacation. I also think that the pay is pretty decent for what we do, at least for the NJ-based employees. I’ve read some reviews here (perhaps they worked in NYC) and heard my colleagues regarding how they think they are underpaid compared to “their friends who work for banks and other financial firms.” – I disagree with them. For what we do and how much work we do, I think the pay is fair. It’s pretty embarrassing to hear some of them comparing themselves to traders and PMs on the Street.
    - *Some* great colleagues and constant collaboration – Like many other reviewers mentioned, you will meet some very bright colleagues in the firm. I also like that the company does a good job of promoting collaboration (both within the team/department and outside), so you can team up with smart people to work on interesting projects. The problem is that these people are rare, and they always end up leaving after several years because the job itself is nothing but repetitive and mindless. I have truly enjoyed working with some people during my time at the firm; I just wish I met them elsewhere so that we would work on something that actually mattered.
    - High degree of freedom – most of the managers in the department are clueless and have no idea what is going on and what you are working on. This means that you have unbelievably high degree of freedom, and can get away with almost anything. You can literally not do any work for one full week and no one would say anything to you, so long as you remember to ask your managers how their weekend was, how their dogs are doing, how their kids did in their baseball/soccer game, etc. By the end of your first year, you will become an expert in small-talks and master the art of superficial smiles.

    Cons

    - Boring job – when I applied to work at Bloomberg, the job description sounded like it will involve at least some research/analysis of various asset classes (depending on what team you get assigned to). In reality, the job is basically a glorified caller center worker who tags data. My days consisted of moving data points from point A to point B, and dealing with angry clients asking why we make stupid mistakes. Occasionally, you are given some “projects” which are either just simple and mind-numbing mass data corrections, or some aimless “improvement” requests that die down without real solutions several months later. I felt like my brain cells were slowly dying of inactivity during my tenure there.
    - Clueless managers and apathetic colleagues – it’s true what they say about how quality of your work experience depends on the people you work with. Most managers are completely clueless, and they are where they are only because they’ve been working in the company for so long (and their peers who are actually qualified presumably left the firm long time ago). They have no idea how to run a department/team, but still love bossing around because they are delusional and power-tripping. They act as if they are in Wall Street by throwing around finance/management jargons and acronyms that have no applications to our operation, and seem to be only occupied with pleasing their own managers. I felt like I was in a big frat house where the managers were busy “bro-ing” with each other and their managers. In terms of your colleagues, there are three types: 1) those who are ambitious, smart, and motivated; 2) those who are neither smart nor motivated; and 3) those who are smart, but not motivated. Of those in the three categories, people in the first category quickly realize the limitation of the department and leave as quickly as possible. Thus, you are left to work with those who can’t perform because they lack the skills/intelligence, or won’t perform because they just don’t care. Either way, the quality of work that gets done is mediocre at best. The worst part of all of this is that before not too long, you will find yourself in one of the latter two categories at some point if you decide to stay for too long.
    - Laughable technology – for a company who claims to be a leader in the financial data business, the technology used in the firm is a joke for the most part, and once again, mediocre at best. The management refuses to invest serious money into developing a better system; instead, they only invest in cheaper patching-up solutions just to get by.
    - No growth opportunity – the company has a very flat structure, which means that there are very few management positions available. You learn absolutely nothing that is applicable outside of your team, so most people are stuck doing the same things year after year. If you are smart and good at what you do, your chance of being promoted actually seems to decrease since they are worried that they won’t be able to find a suitable replacement for you. There are options to apply to transfer internally (or to NYC), but the competition is very tough, and even if you are able to transfer, more likely than not you will be doing similar tasks that you have been doing – just with a different asset class. Those who are motivated/smart enough to learn new skills don’t even bother applying internally – they simply leave the firm.
    - Long lines for bathroom stalls – I don’t see any previous reviewers mentioning it, but this is a real problem in the Skillman office. I don’t know what they do (nor do I want to know) in the bathroom stalls, but regardless of when you go to the bathroom, there is *always* a line for stalls. It wasn’t rare for people to wait 5-10 minutes in line. Apparently going number two is a privilege in that office. My current colleagues think that I’m making this up, but sadly, I’m not.

    My apologies for the long review, but in short, if you have even half a brain and think that you have a shot at being successful at any other place, do yourself a favor and stay away from this place.

    Advice to Management

    Instead of pushing away all the promising younger employees, wipe out all the low- and mid-level managers, especially the ones who have kept the same position for nearly a decade. It’s clear that there are so many other employees who deserve to be promoted, and keeping the current managers will only further decrease the morale level among the analysts. They should also consider bringing managers from outside the company who have proper management experience and skills. Finally, stop lying to the job applicants about what their responsibilities will be. Bloomberg is NOT Goldman or JPM, so stop acting like one.


  6. Helpful (13)

    "I agree with the person who called it 'Dystopia'"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Data Analyst in Skillman, NJ
    Current Employee - Data Analyst in Skillman, NJ
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

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

    Pros

    The hours are not bad at all, working 8-5 or less depending on your team. When at work, it is very easy to only actually do roughly 3 hours of work per day and spend the rest browsing the news (as a shockingly large number of people do), or working on your resume & linkedin, or writing scathing glassdoor reviews. 401K and all benefits are great. There are some really great people here as well, it's just that most of them will be out the door sooner or later for a better opportunity.

    Cons

    The work is incredibly tedious and unfulfilling, few people here are passionate about what they do, management is for the most part underqualified and unenthusiastic about change, and daily work is mired in laughably outdated software and workflow tools that are incredibly frustrating to use and in many cases have not been updated since the 90s.

    To top it all off, you're in central New Jersey with slim prospects of moving to another Bloomberg office within 18 months, which leads to high attrition rates and low morale among young employees and a collective sense that this is a place where careers go to die, and should be used temporarily as a stepping stone while you study for the CFA. People jokingly call 'Global Data' 'Global Data Entry', and this name fits.

    Yes, data processing may be inherently tedious work, however that is greatly exacerbated when the department has collectively shrugged its shoulders at any legitimate efforts to utilize the widespread advances in technology and data processing automation of the last 15 years, instead relying on questionable and incredibly outdated tools and processes (literally, in many cases these ave not been updated at all since the 1990s). Management talks the talk of leveraging technology (OMG the crowd! codecademy!), but in most cases these solutions are far too little too late and are further hurt by a lack of any legitimate R&D support. Analysts with little to no technical background (who are further surrounded by older employees with no desire for change) can only do so much.

    Compared with the glamorous Bloomberg offices in NYC and the rest of the world as well as the incredible funding we pour into the (money-hemorrhaging) news department, the Skillman office feels like the forgotten stepchild of the Bloomberg corporate family.

    Advice to Management

    First off, take a look around and recognize how overpaid and underqualified you are to be the management of this relatively important department at a global company. Congratulations: you made it, somehow.

    Second off, recognize the fact that having 90% of your management team be people who have spent their entire lives in central NJ and who have spent their entire careers within one office at Bloomberg is not a good way to run this department, unless you are hoping to run it into the ground.

    Then, take a look at the massive attrition rates you have among younger employees and realize that few people want to spend their early/mid twenties living in suburban NJ hoping daily that they'll somehow get transferred to New York. This is a great way to lose tons of young talent, which is one of the few things that management here is really fantastic at. Again, congratulations.

    Then, when looking to orient your department in a more technology-driven direction (or even just any direction that's not laughably inefficient), cause it's 2016 and manually inputting data on barely readable screens built in 1997 isn't really acceptable anymore, try getting HR to hire people with actual CS and programming skills and backgrounds rather than throwing people without any experience into technical roles and hoping something good will happen (hint: it probably won't). Work in the Skillman office seems to have been frozen in time since 2004 and with every passing year things get less and less efficient and young employees get more and more frustrated (and leave).


  7. "Micro-management"

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

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

    Pros

    Free snacks
    Clean office
    Access to a lot of news around the world
    Great if you're right out of college but not a long term job

    Cons

    Managers don't know how to manage
    You are graded on everything you do
    Metrics make no sense
    Feels like you're a child in school
    TURNOVER RATE IS HIGH!

    Advice to Management

    Get rid of the metrics- you make your employees suffer and therefore the turnover rates will always be high. Employees will leave and go to other places where you aren't graded on your every move.

  8. Helpful (7)

    "An absolute nightmare"

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

    I worked at Bloomberg L.P. full-time

    Pros

    -The people I worked with (team members) are wonderful. Extremely hard working and good people.
    -Nothing else.

    Cons

    -No work/life balance
    -Totally incompetent managers who have never done the job that the team they are ''managing'' does.
    -Managers do nothing. My manager attended Bloomberg University courses (which tend to be classes that promote self image, and horoscope styled ''personality'' courses) and little else. No help or input was ever heard from her, only criticisms which were unwarranted-due to the fact that she didn't understand anything about the department and never worked in it prior to becoming a manager. How did this happen you may ask? It happened because higher management also has no clue and do nothing.
    -Extremely understaffed department. Team of 10 people handed 60,000 inquiries in my last month.
    -Compensation in laughable.
    -Bloomberg is 'big brother' personified. Tabs are kept on every single move you make.
    -The level of Micromanagement is absurd. I felt I was treated more like a toddler than an adult.
    -Hypocritical managers: I was reprimanded for being late by two minutes once, while my manager wouldn't scold others who walked in 30 minutes late every day.
    -Culture of fear. Managers live to intimidate their team members.
    -Every single thing you do at Bloomberg must be recorded in their internal ticketing system. If your manager didn't like the way you record something, you will be threatened with termination.
    -Open seating floor plans are usually a good idea, however at Bloomberg this means you get 2 square feet of your own space before you bump into your neighbor. If one person on your floor is sick, everyone will be sick within 3 days. Absolutely no privacy.
    -Culture of Brainwashing. People who have been at Bloomberg for over 2 years can not form a sentence in or out of work without saying ''Bloomberg'' at least once.
    -Bloomberg pretends that there is good career advancement, but in reality, all roles are glorified call center type roles. Pay increases for employees are less than inflation rates.
    -Since the pantry offers free (junk) food, the management believes they own you outright.
    -Bloomberg stunts professional growth as employees never see outside business practices and are trapped in a Bloomberg bubble.
    - Plus hundreds more.

    Advice to Management

    You need to hire managers who understand the job of the team members that they ''manage''. Stop playing favorites, and appreciate your workers as we are the ones who are directly in charge of your success. Countless changes are needed.


  9. Helpful (4)

    "Bloomberg"

    StarStarStarStarStar
    Former Employee - Data in Plainsboro, NJ
    Former Employee - Data in Plainsboro, NJ
    Doesn't Recommend

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

    Pros

    Free food, volunteer opportunities, company matching for some philanthropic donations

    Cons

    too many management levels, inexperienced leadership, no positive feedback, low employee morale


  10. Helpful (4)

    "A company that reneges new grad full time offer"

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

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

    Pros

    Princeton office provides free lunch.

    Cons

    I received an oral offer as R & D software engineer a year before my graduation. Three months later, their recruiter gave me a phone call and reneged it, without caring or taking any responsibility of the other offers and interviews I have declined for them.

    I received an oral offer over the phone after interviewing them on campus around end of Sep, 2015. Since I still have a year left in school and only taking two masters courses, I asked for a part-time intern opportunity to work in their Princeton office, mostly to get familiar with their teams and development environment. Before the intern started I told their manager about my availability constraints ( only available this semester & winter , and would take time off during exams ) and they told me it's fine and sent me an part-time intern offer letter to sign on. On the contract it says "Expected work hours per week : 10 hrs". Also, either the manager or part-time offer letter mentioned anything about its potential impact of my full-time offer.

    Then I interned at a team throughout Nov.2015 - Jan.2016, worked mostly 4 days a week, averaging 25 ~ 30 hrs for the weeks I came to work. I took a whole week off during finals and another week during Christmas and New Year.

    The program itself is very disorganized : No intern / new hire training, no clarification of performance expectation, no assigned project, and no desk. Yes I never had a desk assigned to me throughout the entire internship. I was told to fix bugs in their current production code and I worked closely with my mentor on daily basis. I managed to fix all the bugs they assigned to me and my code went to production.

    After telling them I wouldn't be able to work part-time after my last semester starts, as we agreed upon before I start interning, I received a phone call from Bloomberg's recruiter couple weeks later said they would renege on my full-time offer. "Based on your review from your team, your technical ability has no problem, but it's the communication issue. Therefore we decided to not give you full-time offer". Later that night I called my mentor and he told me he knew what I did, he was satisfied about my performance since I was able to pick up their project and fix bugs quickly. He insisted to keep me in the team, but their team lead who never assigned anything to me or worked with me claimed I am not dedicated to the company since I took days off during final. Recruiting team did not take any responsibility of the other offers and interviews I have declined, insisted the decision is final and there's nothing I can do about it.

    I talked to my friends and professional engineers who had experience with Bloomberg. This company has a terrible record of reneging people' offer / fire new employees during their recruiting process. They basically don't care about how it would effect your career as a software engineer. You are a new grad who is not experienced with employment laws / process, and they would do whatever they need as long as they think it would benefit their company. Be very careful if you are considering Bloomberg as your full-time employer, they have reneged / fired people before they join, during their new hire training, even in your first six months.

    After all this is a company which would say "Technical ability is fine, but team lead doesn't like your communication " to renege an incoming engineer's offer.

    Advice to Management

    Be a bit more professional and considerate in hiring process. I have never experienced any company as big as Bloomberg that would be so shameless.


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