Bloomberg L.P. Reviews | Glassdoor.co.uk

Bloomberg L.P. Reviews

Updated 22 February 2019
2,995 reviews

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3.7
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Bloomberg L.P. Founder Michael R. Bloomberg
Michael R. Bloomberg
986 Ratings

Employee Reviews

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Pros
  • "work life balance is pretty good" (in 219 reviews)

  • "Excellent staff perks from medical to free food and drinks" (in 347 reviews)

Cons
More Pros and Cons

  1. "Good Place to hone your skills"

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

    I have been working at Bloomberg L.P. full-time

    Pros

    -Editors have a lot of time to guide/help you
    - Food

    Cons

    Can't think of any at the moment


  2. "Enterprise Sales"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Enterprise Sales Representative in London, England
    Current Employee - Enterprise Sales Representative in London, England
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Bloomberg L.P. full-time (More than 5 years)

    Pros

    Open cultural, places to learn knowledge, experiences

    Cons

    management style in some departments

  3. Helpful (5)

    "Pretty good company that could be so much better and has no desire to be"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in London, England
    Current Employee - Anonymous Employee in London, England
    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO

    I have been working at Bloomberg L.P. full-time (More than 5 years)

    Pros

    Caveat that your entire experience like any large company depends on what department and seniority you hold. My review for pros and cons centers on experiences in the financial products realm, not engineering, news or media. In terms of pros, Bloomberg has some great, really good, and good things going for it.

    There are some genuinely talented, smart people who when given the chance can do some great work. The culture and environment is extremely energised and lively, and there is always a buzz in any of the top notch global offices. The Bloomberg Way of start executing, building, or doing first and figure out as you go along can be very powerful (but also detrimental as outlined in cons).

    The benefits are overall generally strong (especially in the US with no healthcare premiums) but not over the top. Some great cultural benefits and partner programs.

    Philanthropy is a huge part of the company and there are numerous ways to feel a part of that. The majority of company profits do go to funding Mike Bloomberg's philanthropic initiatives, which if you are aligned with those (like me) then it's great. There are also weekly (if not daily) ways to get involved in countless other volunteering initiatives.

    Cons

    The thing that strikes me is that Bloomberg is a pretty good place to work, but could be so much better some real leadership, but never will. The simplified main issues come down to:

    - No true leadership or management from the top down & zero culture of communication
    - Total disempowerment of employees and no willingness to take risks
    - Now, now, now instead of stop and think for 2 minutes (or god forbid using data and information to make decisions)
    - Total lack of transparency on everything (mainly salary and career) despite claiming to be THE transparent company

    And the two things that make all of this worse
    1) the company generally thinks it does all of the above well, which makes it inauthentic because everyone knows it doesn't
    2) nobody really cares that much to change any of it.

    Leadership & Management
    I have never seen such a successful a company so successful with such poor management, leadership and communication culture. Poor isn't really the right word really. It's more non-existent.

    You rarely hear from senior positions on the direction of various areas of the business, and if you do it's in a once or twice a year email. The generally held belief that I have heard stated numerous times is "people will figure it out. Tell their manager and it will filter through".

    There is a pervasive belief that the company is still a startup, so we will just email people and they will get the memo. But nobody really gets the memo and it creates mass confusion on what everyone is and/or should be doing. It's kind of like Where's Waldo (Where's Wally for the Brits), where you're trying to find Waldo, but looking around and wondering what the hell is going on in this picture only to realise it's mass chaos.

    They still do things from when the company first started in the 80s and beat the chest about it, even though most people look around and go, really? Maybe we should look at what is being done now? But as you will see below, there is zero desire to change anything as it works for the most senior of management (but nobody else).

    On the inauthentic piece above, this is actually the one area where they don't really claim to be great. It's sort of, yeah we aren't really good and don't really care about improving.

    Disempowerment & Taking Risks
    The lack of empowerment with most people is daily and widespread, with few able to make their own decisions beyond what their favourite snack is (Amazed btw at how many pro comments are simply just 'the snacks are amazing). Doing things that will rock the boat? Never, despite the fact that is what the company needs. As stated, the worst part about this is how much the company promotes taking risks, trying new things, and not wanting the status quo, which is pretty much all anyone ever gets.

    Now, now, now
    So few people stop and take the time to do things that make sense. The company has been largely successful for many years, and there is a level of arrogance that Bloomberg is unassailable to disruption. Seeing companies like Reuters and others go through challenging times makes people even more bold in that position. I have truly never seen a company so bold in it's self-ego when customers are publicly stating they want to get rid of Bloomberg and form side companies to try and unseat the incumbent.

    You would think that would make people stop and look at trends, analyse the situation and then make decision. The Bloomberg Way is go out and do and the good times will roll. Except that they don't and things are vastly less successful than they could be.

    Lack of transparency
    Despite claiming to be the company that essentially invented transparency it is one of the least transparent places I have ever worked. On a purely salary and HR level, there is absolutely no understanding of how you are paid, what you need to do to improve that, etc.

    There are minimal opportunities to advance outside of being a 'Team Leader' which offers no real benefit because they have no culture of management so nobody knows how to do it properly. Again - let the people just figure it out, which would be fine if the company were 180 but it is 18,000.

    Case in point, the internal idea board where employees could share any idea about something, from I think we should have a family day to why don't they have a gym in the building, was removed last year because 'management communication practices and ticketing systems' were in place to flag issues. What that means is employees have no place to voice concerns or raise issues. HR is non-existent and ombudsman.

    Inauthenticity & Desire to Improve
    This is the hardest piece to swallow as an employee. The company is simply inauthentic in its culture these days and is totally out of touch with the employee base. Even things like how active Bloomberg is in diversity & inclusion, there are tons of elements where Bloomberg beats there own chest where they could be so much more ahead of the curve.

    Employees used to believe in what was being sold and no matter how manic things would get, they felt it and wanted to be a part of it. But the human element has gone and with all of things outlined above, people no longer feel it. People will stay of course as they have created the classic comfortable-enough pay structure, but they will never keep real talent there. I think another review said 'fake it till you make it' and that is 100% true.

    Amazingly, employees want a lot of the things listed above and there is simply zero desire to do so. It all works for management and things keep going with the bottom line improving, but there will come a tipping point where it may not be tenable.

    Advice to Management

    Clean out the old guard and put anyone in charge that actively leads and that people want to follow. Don't just talk up things like taking risks and being transparent, actually back them up and be transparent with your people instead of treating them all like children. Empower people to make decisions like work hours, dress, etc and don't tell them every single thing that has to be done from when they enter to when they leave.

    Look ahead instead of dwelling on Mike Bloomberg 'bringing transparency to financial markets' and let your people try and get ahead of the clear market challenges. Inspire change or people will burn out on your message and grow tired of its inauthenticity, especially when you aren't transparent about anything.

    I truly respect Michael Bloomberg as a world leader but he needs to put someone in charge that actually wants to actively run a business, be around, get to know the people that work for him (or here's a novel idea...her!). Instead we get the most inactive non-existant leadership that want to lead us into the future but have no clue how to get there, and most of us just hoping we aren't on the ship for that ride.


  4. "Global data anlyst"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Neutral Outlook
    Approves of CEO

    I worked at Bloomberg L.P. full-time

    Pros

    truely global environment
    canteen
    really care about employee welfare

    Cons

    you can either be really proactive and competitive to develop your skills or your work can be redundant


  5. "Financial Sales and Analytics"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    No opinion of CEO

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

    Pros

    salary, people, location, training, technology

    Cons

    target, micromanagement , pressure, quantity over quality


  6. "Good experience, hard work"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Producer in London, England
    Former Employee - Producer in London, England
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Fast-paced, responsibility, interesting co-workers, good office benefits

    Cons

    Shift work, competitiveness with other colleagues


  7. "Great opportunities to grow but going downhill"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Implementation Specialist in London, England
    Former Employee - Implementation Specialist in London, England
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    - Great salary/bonus
    - Pantry with lots of food and drinks
    - Lots of people to network with
    - Beautiful office

    Cons

    - You can feel overworked and micromanaged for the littlest things
    - Upper management completely ignores you
    - You could feel locked down in your department due to them requiring your coverage and can feel difficult to move on

  8. "No work-life balance"

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

    I worked at Bloomberg L.P. full-time

    Pros

    Free food in pantry; good healthcare benefits

    Cons

    Zero respect for work-life balance; bullying of new mothers completely tolerated and even encouraged; terrible people managers who have complete disregard for employee wellbeing


  9. "Enterprise Sales"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Bloomberg L.P. full-time

    Pros

    Good environment and facilities (pantry)

    Cons

    Sometimes to much micromanagement and overlapping

    Advice to Management

    Be more flexible


  10. "Good benefits and opportunities"

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

    I have been working at Bloomberg L.P. full-time

    Pros

    Competitive salary, good benefits; global company means you get lots of opportunities to move location/departments

    Cons

    Size of organization means often dealing with bureaucracy