Bloomberg is a giant in the financial services sector, offering finance professionals tools and products that help them analyze markets, make trades, and stay up to date with the latest relevant news. However, Bloomberg also works in media, software, machine learning, and data analytics. And according to Forbes, it’s one of the best employers in New York state for 2022.
But what does Bloomberg do exactly, and what’s it like to work there? In this guide, we’ll cover:
- What Is Bloomberg?
- Bloomberg Careers and Salaries
- Bloomberg New Grad and Student Opportunities
- Bloomberg Benefits
- Bloomberg’s Company Values
- Culture at Bloomberg
- Bloomberg vs. Competitors
- Interviewing With Bloomberg
- Key Points About Working at Bloomberg
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What Is Bloomberg?
Bloomberg, officially called Bloomberg L.P. (limited partnership), is a multi-faceted media, data, software, and finance company based in New York City. Founded in 1981 by Michael Bloomberg, Thomas Secunda, Duncan MacMillan, and Charles Zegar — with a heavy investment from Bank of America through their subsidiary Merrill Lynch — Bloomberg has since grown to employ more than 19,000 workers across 176 global offices in 69 countries.
The main product created and sold by Bloomberg is a software platform called Bloomberg Terminal. This platform allows finance professionals to analyze real-time market data, execute trades and sales, get relevant news updates, and communicate with coworkers. Terminal is one of the most widely used tools for investors and bankers to see the markets as they change and act on those changes.
In addition to Terminal, Bloomberg has a variety of products and services in the media space. Bloomberg News, for example, is a new agency owned by Bloomberg L.P and Bloomberg TV is a 24/7 broadcast news network. Altogether, the company offers over 15 products and services, ranging from a radio station to a service for up-to-date legal research and analysis.
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Bloomberg Careers and Salaries
Careers at Bloomberg are as diverse as its products and services. From careers at Quicktake (the Bloomberg version of TikTok) to Bloomberg Government (a digital resource for congressional staff government affairs workers), no two jobs at Bloomberg are quite the same.
However, most jobs fall into one of the following buckets:
- Developing services and products: This includes engineering, data, and product development roles.
- Financial solutions and customer support: This sector focuses on user support and sales.
- News and media: Many roles in communications and media involve working with Bloomberg News or Bloomberg TV in focus areas like research, news, and media creation.
- Keeping the business running: These are primarily roles in corporate functions and operations, and external relations, such as working with Bloomberg Philanthropies.
Salaries at Bloomberg typically include a complete benefits package and annual bonuses for full-time employees. Salary estimates from recent Bloomberg job postings in New York City include:
- Senior software engineer: $160,000 – $240,000 annually
- Data operations analyst: $70,000 – $85,000 annually
- Data engineer in media data: $160,000 – $240,000 annually
- Project manager for company analysis products: $140,000 – $295,000 annually
- Technical support specialist for Bloomberg Financial Solutions programs: $80,000 – $90,000 annually
- Video production manager: $115,000 – $130,000 annually
- Bloomberg intelligence research associate in fintech and payments: $90,000 – $120,000 annually
- Cinematographer/editor: $80,000 – $110,000 annually
- Employee relations partner: $150,000 – $180,000 annually
Bloomberg New Grad and Student Opportunities
Students and recent grads have a few different paths to get their foot in the door at Bloomberg. Some programs are part of larger diversity and inclusion initiatives focused on sourcing early talent from traditionally underrepresented communities. Other programs focus on readying students for the workforce and helping them build their professional network.
Opportunities for students and recent graduates at Bloomberg include:
Internships typically span from six weeks to up to six months, depending on the role. These internships allow students to expand their professional networks and get training and coaching in their focus areas. Interns are not eligible for benefits packages, but some programs may have financial compensation or other perks, like paid housing.
Bloomberg offers internships in the following focus areas:
- Analytics & Sales
- Customer Support
Past interns rated their experience with Bloomberg internships a 4.7 out of 5 on Glassdoor and 99% of interns would recommend the company to a friend. Some highlights from their reviews include mentions of Bloomberg having unlimited free snacks in the office and nice corporate housing for interns in NYC.
Entry-Level Full-Time Jobs
Recent college graduates and those with less than three years of experience can apply for entry-level, full-time positions with Bloomberg. These entry-level roles heavily involve career development programs to help new hires excel. Additionally, Bloomberg offers courses to teach technical skills, specialized leadership training, and frequent networking opportunities.
Externships are short-term programs, typically lasting only around three days. As part of Bloomberg’s diversity and inclusion efforts, these programs are exclusive to college sophomores who are first-generation college-bound or identify as Black, Hispanic, Latinx, or Native.
Launch is a limited initiative for City University of New York students and certain students in the United Kingdom. Launch is a two week intensive program that immerses entry-level talent into the company’s main business areas, culminating in interviews for internships and full-time roles.
UK students may have the option to enroll in an apprenticeship, which Bloomberg promotes as an alternative option to a traditional college degree. Apprentices have full-time benefits and earn certificates either at a basic or foundational level (programs lasting 15-18 months) or at a degree level (programs lasting 18-48 months). When apprentices finish their program, they can graduate to a higher-level program or transition into a full-time role at Bloomberg.
>>MORE: Learn how to get an internship without any work experience.
Full-time employees with Bloomberg have a comprehensive benefits package. Some benefits afforded to U.S. employees include:
- Entirely covered health insurance with no in-network deductible
- Dental and vision insurance
- Gender-neutral parental leave
- Company-matched 401k
- Wellness coaches
- Trans-inclusive support
- Tuition reimbursement
- Work-from-home stipend
- Back-up child and elder care
- Reimbursement for qualified wellness expenses like gym memberships and mindfulness courses
- Discounted or free access to museums and cultural institutions supported by Bloomberg Philanthropies
- Fully-stocked and free pantry in every office location, offering meals, fresh fruits, snacks, and beverages
On Glassdoor, former and current Bloomberg employees rate the company’s benefits 4.6 out of 5 stars, with some of the most positive comments around health insurance and parental leave. On Comparably, 87% of Bloomberg employees are satisfied with their benefits, which has an A+ rating.
Bloomberg’s Company Values
Diversity and Inclusion
Use recruitment strategies and company and employee policies to foster gender equality, ethnic diversity, disability inclusion, and LGBTQ+ inclusion
Tech and Innovation
Focus on pushing technological advances in AI, machine learning, and language processing to help clients make more informed decisions.
Work in partnership with a vast array of nonprofit organizations to expand access to technology, create a more inclusive economy, foster diverse voices in media, and tackle the world’s biggest challenges.
Invest in sustainable practices through global partnerships, integrate sustainability policies across the business, and push for green policy changes.
Culture at Bloomberg
According to Culture 500, an initiative that scours employee reviews to find the most commonly discussed values, Bloomberg employees talk most positively about collaboration within the company. Employees feel like they can work well within their team and across the company as a whole. However, employees often negatively discuss agility, implying that switching between tasks or departments or keeping up with the changing market can be a challenge within the company.
Employee reviews and ratings on Comparably give Bloomberg an A- score, or 4.3 out of 5, for company culture. Ultimately, according to employees, the lowest-rated aspect of Bloomberg’s culture is professional development. However, 80% of employees look forward to daily interaction with their team, 74% are happy with their work-life balance, and 76% say their work environment is positive.
Bloomberg receives mixed reviews from past and current employees on Glassdoor. The company has an overall 4.1 out of 5 stars rating, with 82% of respondents saying they’d recommend working at Bloomberg to a friend. However, more critical reviews note long working hours, a competitive environment, and micromanagement. On the other hand, positive responses highlight Bloomberg’s incredible free food, the expansive benefits package, and how the coworkers are generally great to work with.
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Bloomberg vs. Competitors
Because Bloomberg works in so many different areas, there isn’t really one direct competitor on all fronts. However, Bloomberg Terminal has some key competitors, namely S&P Global and Refinitiv. Additionally, Thomson Reuters is a key competitor in many aspects.
Refinitiv, previously owned by Thomson Reuters, is a company that provides financial market data, risk assessment tools, trade execution programs, and platforms for economic analysis. Refinitv is now exclusively owned by the London Stock Exchange Group.
Standard and Poor’s, also called S&P, is a public financial information and analysis company based in New York City. S&P Global offers an array of products and services, such as S&P Global Ratings, which provides investment research for investors, and S&P Global Market Intelligence, a real-time data platform that provides customers like investment banks with relevant and up-to-date analysis, research, and news.
Thomson Reuters is a media conglomerate based in Toronto. Like Bloomberg, the company has wide-ranging products, including Westlaw, a database for legal research, a multi-media news agency, and fraud detection programs.
Bloomberg’s Overall Ratings vs. the Competition
|Review Site||Bloomberg||Refinitiv||S&P Global||Thomson Reuters|
|Comparably||4.3 / 5||4.3 / 5||4.3 / 5||4.5 / 5|
|Glassdoor||4.1 / 5||3.8 / 5||4.1 / 5||3.7 / 5|
Interviewing With Bloomberg
Around 55% of Glassdoor responses found the Bloomberg interview process to be a positive experience. However, 28% labeled it neutral, and 17% described the experience as negative. Overall, Bloomberg’s interviews received a 3 out of 5 in terms of difficulty, and most interviews (69%) came from online applications.
Bloomberg’s engineering department is very open about its interview process and provides plenty of tips to help applicants succeed. While not every position will follow these same steps, this information does give an idea of how rigorous and time-intensive the interview process for technical roles may be with Bloomberg.
Engineering Interview Process for Experienced Applicants
- Experienced engineering department applicants begin with a phone interview either with a member of the human resources team or someone from the engineering department. This step helps the company understand the applicant’s interests and general skills.
- A 45-minute to one hour phone interview with an engineering team member follows to test technical skills. This portion of the interview focuses on coding, problem-solving, and the fundamentals of computer science.
- Next, applicants have in-person interviews at a Bloomberg office, which could last anywhere from two hours to an entire day, depending on the applicant’s availability and the number of rounds of interviews. In-person interviews are often with different engineering department members to continue testing the applicant’s technical skills. Many questions are open-ended, and applicants can use whichever coding language they feel most comfortable with.
Engineering Interviews for Entry-Level Applicants
- Entry-level applicants may start with a Zoom interview or a phone call.
- The process then moves to in-person, which consists of two to three rounds of technical knowledge testing with engineers. These interviews will be a mix of technical questions, problem-solving tests, and longer-format open-ended questions so the engineering team can better understand how the applicant thinks through problems.
>>MORE: Get interview-ready with Forage’s Girls Who Code Technical Interview Prep Virtual Experience Program.
Bloomberg’s Interview Tips for Engineers
Bloomberg’s engineering department also offers interview tips and advice for handling their interviews as a student, recent grad, or experienced applicant. These tips include:
- Research the company and the role beforehand so you’ll be better prepared.
- You are allowed to ask for help or clarification during the technical interview.
- Always explain your thought process, especially for the more open-ended questions. There won’t always be a correct answer, and the goal is to see how you think through problems more than your actual solution.
- Listen carefully to instructions and questions.
- Use whichever coding language you are most comfortable with. However, consider the role you’re applying for when choosing which coding language to use.
- Bloomberg’s engineering department also encourages applicants not to worry so much about their wardrobe during the interview and to wear what makes them feel comfortable.
>>MORE: Explore Forage’s software engineering virtual experience programs.
Key Points About Working at Bloomberg
- Bloomberg is a global organization that encompasses a wide range of products and services, including tools for governments, a news agency, and print magazines.
- Bloomberg pays quite well and has a variety of programs for students and recent grads to work their way into the company.
- Overall, Bloomberg has high ratings across sites like Glassdoor and Comparably, with reviewers noting excellent collaboration across the organization, free snacks, and extensive benefits.
- Diversity and inclusion initiatives are a big part of Bloomberg’s values, often expressed through their early-talent sourcing efforts and internal corporate policies.
- The interview process at Bloomberg may be lengthy, but most who have experienced it rated it fairly positively.
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