Mayor Bloomberg’s financial news empire, a.k.a. Bloomberg LP, which runs Bloomberg Radio (WBBR/1130) and Bloomberg TV, started in New York 31 years ago.
Bloomberg still holds a majority ownership in the media company that controls one-third of the $16 million global financial data market.
But all is not beautiful at Bloomberg, which has its “world headquarters” next to Bloomingdales on the Upper East Side.
The Website, Glassdoor, which provides background information on jobs and companies, also allows reviews. Those usually anonymous comments give additional insight into the “Glass Tower” on Lexington Avenue.
At last check, more than 500 current and former “Bloombergers” gave reviews to the site.
The prevailing positive is that the privately held company pays competitive salaries. But that doesn’t mean all employees are loving life at Bloomberg. Don’t take my word it. Here’s a sampling of some disgruntled employees.
A current senior software engineer says working for Bloomberg is “great for some, horrid for others.”
Another current senior software developer writes: “There is a lot of bureaucracy. Decision making is slow and inefficient.”
This former sales representative says in the Advice to Senior Management category:
“None – the company is what it is, and will always operate in a particular way, regardless of the high-employee turnover. Contrary to popular belief, there has been no significant change in management style over the past 12 years.”
A current advanced specialist has this criticism.
“Lot of qualified colleagues have left to pursue other opportunities – very poor job by senior management in keeping top talent.”
And this former senior software engineer delves into the Bloomberg culture as a negative.
“You have to be workaholic. No work life balance. The later you leave every day the more your higher manager likes you irrespective of what you do.”
Finally, a former anonymous Bloomberg employee has these stern recollections of management.
“No matter how hard you work, and no matter how well your annual review goes, compensation and bonus levels have already been decided in advance and seem totally unrelated to performance. Some of the most-clueless workers end up in charge. Talent does not equal growth. We were always told that “Bloomberg is a meritocracy” but many workers end up stuck in the same position for many years.”
Editor’s note: In terms of full disclosure, I was a radio anchor at Bloomberg from 2006 to 2009, when more than 100 staffers were laid off.