Does anyone here work at or know a lot about BlackRock?
i know they are massive but realistically are they the best in the biz? someone said they are the JPM of AM but i don't know enough about AM landscape to truly make that call. i get they are the biggest but is that the only relevant metric?
curious to hear what their worklife is like. particularly the sales/rel mgr roles
is pay good at the junior/middle levels (VP and below)? hours wise what's it like? what's the corporate culture like? what is "average day" like?
do they keep expanding with acquisitions or are they good at growing AUM naturally? how do they even "get" business?
Don't work there - some general context to help place them.
Starting at the last point first - Blackrock would look very, very different without the financial crisis where they acquired IShares from Barclays. That in and of itself makes up probably 20 or 30% of their AUM, which is like $7 trillion total at this point. Give Fink credit for betting on ETF's - it's paid off in spades. That franchise is just a monster - it's everywhere, on every platform, with every option under the sun available, in any vehicle... hard to overstate the sheer breadth of what they do. Aladdin is, well, known by name virtually anywhere you go as a risk analytics and investment platform.
Based on what I saw last - probably 50 or 60% of their assets are based on just index funds - another trend they caught on. Size wise, similar to Vanguard as a comp. So, again, as you consider how they grow - they simply grow by existing. I could cynically tell you that they are ostensibly a marketing firm in large part (Vanguard gets that knock sometimes) but it's not entirely untrue. They are so ubiquitous that it's hard to get away from them. Go look at a pension fund or other allocation - they show up more times than not. Even their OCIO business, a rounding error on their overall AUM at $130 billion - is one of the largest in that space. Their 'cash' business - the one that people are punting nowadays - is like $700 billion... which is larger than Wells Fargo's entire AM unit or larger than Federated, a huge liquidity player. They are a monster globally.
They've gone heavy into sustainable solutions and ESG options that integrate into virtually anything they do. JPM is probably a fair comp, where they can basically give you virtually anything you want, need or never knew you wanted - all in one place. That ostensibly should help them continue to grow or at least maintain their level of assets into the future. Which is really the game at this point - everyone is trying to either get scale like Blackrock in whatever they do or occupy a niche that you can be near the top at.
thanks. that's really useful and exactly the kind of info i was looking for.
what's it like as a firm?
is it true that they are the new "government sachs" in terms of influence with governments? and if so, how does that even work out?
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