BlackRock FAQ

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8 English questions out of 8

14 December 2018

What is health insurance like at BlackRock?

Pros

Unlimited Vacation and sick days Good healthcare benefits Somewhat progressive culture relative to other large financial institutions Analyst program is a strong way to build your network

Cons

Compensation was really poor Management was unorganized, combative, and flat out awful Some managers are extremely unprofessional and violate HR rules consistently They let talent walk out the door frequently The management tries to sell the work as being interesting and related to finance, but it is neither There are often lulls in the workflow and there isn't a lot of learning that goes on The (Financial Markets Advisory) FMA group is a financial crisis legacy group that has 1/2 of the revenue it used to with 3x as many employees and all the smart people have left Exit opportunities aren't very good as you aren't doing any real finance work Other groups at BlackRock don't respect the FMA group as FMA is essentially Deloitte's consulting group at BlackRock

Good healthcare benefits

14 December 2018

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31 March 2020

Does BlackRock pay for a gym membership?

Pros

*should start by saying this is the only Multi national I have worked for* - huge resources to learn and develop, particularly for those with a wider interest in finance than their specific area - flat hierarchy with largely open and friendly leadership. Challenging (respectfully) more senior colleagues is encouraged in creating a more rounded debate - many opportunities for those ready to ask for and take them (people put this as a negative but it’s down to you to direct your own career) - learn how a huge company operates in terms of structure, risk management etc. Transferable skills and knowledge to take to less developed businesses. - through the coronavirus period, management has gone to huge lengths to reassure staff and has been on top of everything going on - decent salary plus benefits (again unsure on comps) but large pension contributions are very welcome - a focus on output and actual contribution rather than hours worked. This also (in our team) facilitated flexible working, e.g gym at lunch, if it leads to better business outcomes - This is a huge bonus for me.

Cons

- a lot of people at VP/D level who don’t want to make decisions and are happy to cruise - creates bottlenecks for more junior talent. Choose the team you’re joining carefully to ensure there is scope to grow your role. - a lot of meetings which routinely overrun with little, if any, useful output. Many of these run by the aforementioned group. - trying to push through any change is difficult beyond your own area - lots of layers of approval - the business is very US centric. They are taking steps to address this via regionalisation of the business etc, but it remains a very clearly US centric business - depending on who your manager is you may find yourself lacking a genuine career sponsor and that opportunities are actively reduced (not for me but have seen with colleagues) - this is specific to certain people and will always occur in a business of any significant size. There are options for internal mobility that can help alleviate this as well.

Advice to Management

Always look for opportunities for junior talent to come through. If there aren’t any or where people aren’t good enough, be honest and empower managers to have these very difficult conversations.

This also (in our team) facilitated flexible working, e.g gym at lunch, if it leads to better business outcomes

31 March 2020

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23 January 2019

Does BlackRock offer sponsored degrees?

Pros

Plenty of smart people Eager to apply new approaches

Cons

Low bonuses Not significant tuition reimbursement

Not significant tuition reimbursement

23 January 2019

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2 January 2020

Does BlackRock offer unlimited holiday?

Pros

Having the BlackRock name on your resume garners respect and is great for your career long term. There are few good teams and if you have a role there, you’ll have a generally good experience. Unlimited vacation is nice but doesn’t make up for the gap in compensation.

Cons

Where to begin. * Pays well below market rate. * Highly political and not a meritocracy as management claims. * Mediocrity thrives here. * High turnover over the last couple of years with the culture carriers leaving. * HR that never investigates actual cases of bias, exclusion, harassment or retaliation. BlackRock has a great PR team and management has positioned themselves as a place that’s’ treating employees well, paying for performance, championing diversity & inclusion, and doing what is morally correct. This all couldn’t be farther from the truth! BlackRock’s comp structure hasn’t kept up with the market and you can expect to be paid 40% below what competitors pay. When you raise this they basically tell you that you can leave and make 50% more elsewhere. The firm is highly political and is far from the meritocracy they proclaim to be. The promotion process is full of bias and they are failing at promoting people with different ethnic backgrounds, even though management proclaims diversity makes the firm better. Mediocrity thrives at BlackRock as high achieving individuals are leaving at alarming rates. Turnover has been abnormally high the last year and a half. Gender and racial bias reign supreme in certain divisions of the firm. They fail at supporting and promoting diverse employees and especially women of color regardless of strong performance. Bias and exclusion run high at BlackRock with instances of exclusion, harassment, bias and retaliation being flat ignored by HR and their policies are a complete joke. Managers are supposed to report these issues to HR immediately and they don’t. I’ve experienced and also witnessed multiple cases of exclusion and harassment but nothing has ever been done to remedy these situations. HR will listen to you and say they have to investigate and then get back to you. They never actually do. Meanwhile the perpetrators of these issues are promoted and given more responsibility. While they have made tiny strides on recruiting diverse talent into their analyst program, they struggle with retention and you’ll see very little diversity above VP. My suggestion, work here for a couple years to have on your resume and then leave.

Advice to Management

Instead of shaking your finger at other companies, clean up your own house first.

Unlimited vacation is nice but doesn’t make up for the gap in compensation.

2 January 2020

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11 November 2019

Does BlackRock offer housing assistance?

Pros

Nice location, pay pretty well as an intern, people friendly, nice and smart

Cons

No housing, Return offer relocate to Atlanta

No housing, Return offer relocate to Atlanta

11 November 2019

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8 English questions out of 8