Good performance is not/rarely rewarded. If you perform well you will get more work or more responsibility, recognition is a very long term thing at BlackRock. Bonus system and promotion process' criteria are not clear (too flexible to give the opportunity to make subjective decisions).
Too much politics. Career progression mainly depends on how good you are at politics, doesnt really depends on your performance.
Creating even short term plans is undervalued. Management provides not clear plans, there are a lot of open questions or essential guidance is missing when a new project/initiative starts.