Employee Review

  1. 5.0
    Current Employee, more than 10 years

    Thoughts after a decade in Bloomberg Sales

    May 9, 2019 - Enterprise Sales in London, England, England
    Recommend
    CEO Approval
    Business Outlook

    Pros

    * Outstanding company to work for in terms of aptitude of people, healthy office culture, investment in product development and quality of product, relentless high touch focus on the customer. All the benefits you might expect from a global FinServ firm. 401k match, quality healthcare benefits, generous vacation time, in-office perks etc. * Generous base salary especially through career progression and out-performance. Sales bonus compensation is not directly tied to target/quota achievement making for a much more consultative, relationship based and less aggressive sales environment for clients. Qualitative / culture based metrics ensure high performance is not only based on quota, territory etc. * Move towards more of a dollar quota culture in recent years is positive. Especially for Bloomberg terminal core sales staff this presents an opportunity to become a true enterprise account executive, versus traditionally selling units / terminals. This in turn becomes a more transferable experience. The high calibre sales people at Bloomberg I know of have embraced this change. * Exceptional sales support network for post sales client support from the Analytics department and wider product/support groups. This takes admin-weight off sales significantly and has improved massively over the last 5 years. * Whilst a healthy pressure exists to hit quota, Bloomberg sales is not a cut-throat sales environment like e.g. Salesforce. This promotes a much healthier, collaborative working environment where sales are not stepping on each other. There is monetary recognition of collaboration and other BBg culture metrics. * Strong culture of internal promotion especially into leadership positions -most of which are filled through home-grown talent. For me personally this was recognized through generous compensation at each stage. Still a concerning lack of female talent promoted to sales management, despite recent efforts to change this.

    Cons

    * Sales ability to construct and negotiate on deals is getting better with a move towards book-of-business enterprise sales, but still remains inflexible compared to most other technology/enterprise sales roles. This limits a sales person's autonomy and personal development with things like deal and proposal construction. * Whilst management maintains an 'informal' policy towards working remotely it is still seen across the sales department as inflexible and something that should be asked for on an infrequent basis. Traditional in-office culture of first-in, last-out will probably live on until there is a change in senior management. This has been a top reason for attrition over many years as other companies embrace this. * Sales people must be prepared to put in significant time and effort to learn the full suite of Bloomberg solutions (which is vast) in order to be successful in hitting targets. Gone are the days (thankfully) of silo'd sales groups within the company, where core terminal sales sold/serviced the terminal only. Enterprise selling is a welcome change. * Bloomberg's product range is vast - both on and off terminal. The ability for the company to move nimbly and pragmatically in response to an industry challenge such as regulation (e.g. Mifid II) has proven to be difficult with so many product verticals and groups behind each not talking/working in tandem. Can lead to often frustrating and fragmented engagements with clients looking for holistic solutions. This has been acknowledged at a high level and continues to be a focus. * Senior management are often not the most dynamic in terms of employee (in my case sales force) engagement. Would love to see more engaging, higher energy motivational sales meetings / wraps / town halls. Can often be down-beat and lacking positive energy.

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  1. 5.0
    Current Employee

    Terminal Interface

    Jul 27, 2021 - Senior Process Executive in New York, NY
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Easy to access Good coordination with analyst in IB chat and so on.

    Cons

    There are only pros, that's the only cons.

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  2. 5.0
    Current Employee, more than 1 year

    Great workplace

    Jul 26, 2021 - Business Analyst in New York, NY
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Large stable revenue base drives a healthy culture that can focus on long term strategy. This is in contrast to e.g. a bank, which never knows where its next meal is coming from.

    Cons

    A bit of a fragmented culture, where different functions have developed independently. However, that creates a fun sort of job, which is about discovering what others have already built and deciding how best to merge.

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