Bloomberg Sales and Analytics or SA?
Hey guys, real quick question... Received an invite for Bloomberg's Sales and Analytics Program interview in NY. I'm wondering what to expect for pay and also what exit opportunities would exist after? Further, I have been speaking with a MM in NY about an analyst gig. The MD said they are not currently considering additional analysts, but are thinking about interns instead. My hopes are on IB; nevertheless, given this economy, is it worth holding out for a SA that could lead to full-time or should I explore the Bloomberg opportunity further? Thanks, much appreciation!
I got invited for the same thing. Sounds like an 8-5 deal, wow. Anyway, insight is appreciated.
What does one have to do to get an invite for the summer analytics position Bloomberg (preferably London)?
They're less interested in how much you know about Finance and would rather see students that are determined to learn. This may be cliché but it's entirely true. Lots of their analysts are Arts majors.
Do ECs and gain lots of experience. Focus on reading the FT and knowing the basics (e.g. what are bonds, equities, etc...).
Just go to the interview, what do you have to lose?
The Bloomberg thing definitely isn't IB; if your goal is IB, you are best served continuing to look for a SA somewhere.
That said, yeah, not like you have anything to lose.
As an undergrad, you should go to almost every interview you get.
You never know who you will impress or what you will find interesting.
You never know what your options will ultimately be.
Good practice interview too.
Thanks for the feedback guys, much appreciated. I will definitely check it out at the very least.
Dirk Diggler when did you apply? Do you go to to a target school? And how long did you have to wait since submitting your resume before you heard back from Bloomberg? Was this an OCS opp?
I heard back from them the next day via email, saying "we wanna set up a phone interview with you"
Hey, when you get the job and I double tap help asking a question make sure you answer it. Nothing is more frustrating than having 3 help windows open and all I get is some rookie answer.
Seriously, pay is pretty solid. Building is real nice. Kind of like king of the corp finance jobs in my book. Not IB, but in this economy a job is better than none.
+1
My buddy's been working at Bloomberg for maybe 6 years now and is just reaching the 100k mark now for salary+bonus. It's a good enough job - hours aren't too bad and the building really is cool, but there's really not much in terms of exit ops.
You're learning a very specialized skill (what other company gives an F if you understand the intricate details of how Bloomberg's system organizes historical sovereign debt yields?) so if you spend two years and realize you hate it, you're going to have a harder time switching into something else.
Go to the interview, but if you want IB I'd bust my ass to get other interviews lined up as well. Don't want to slide into a highly specialized career just because it's the first interview you got.
Several of my coworkers who made it to the trading floor (still in tech, though) came from Bloomberg. For analytics developers, it's a decent place to land.
I dunno. I started in credit analytics within my firm and moved over to the equities side. Yes, every firm/job seems like it has a lot of boring/non-transferable work. But then you run into some problem at a different firm, and a lightbulb goes off and you say, "I saw the exact same problem in a different context back at my previous employer. Here's one way of fixing it." This kind of thing happens about 1/3 of the time that we run into a problem- it was 1/2 the time before I left corporate bond analytics, so I lost a little, but I still think that's pretty good.
Knowing in intricate detail how Bloomberg prices bonds is going to help you when you work on JPM's bond pricing system, or even when you're working on a system for setting bids/asks on master limited partnerships.
Last week, I had a senior risk manager ask me what's the best way to get EXACT market data from some of the pricing services we use. Well, I had a similar situation with a risk manager on the corporate bond side two years ago. I get back to him and ask him what assumptions his model is using- if he's using some sort of long-term fundamental model like a lot of risk managers use, we can probably assume no-arbitrage and that makes his job 10x easier. Whaddaya know, in fifteen minutes, I just saved a guy who's time is worth about $300/hour about 50 hours of work. This is something that would have taken me a day or two and a trip to my manager three years ago- and I'm still not 100% sure we would have asked the right questions to make sure HE asked US the right question.
I'd go to the interview. If you show up at Bloomberg and discover that you'd be working for brilliant people who want to share their knowledge and wisdom with you, that really merits some consideration even against a decent offer from a BB. You will probably have long, boring days working on excel spreadsheets that nobody will ever look at and helping users find the power buttons on their computers in a blackout, but hey, bankers do a lot of similar stuff, too- everyone does a lot of tedious work their first few years. If this is something you're passionate about, that they're passionate about, and it pays enough for you to comfortably save 20% of your income (pre-tax or take-home), I say go for it. If you're learning stuff about the markets- even what goes on behind the scenes in a complex pricing system- your career will take care of itself in the long-term.
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